Several years ago, Inside Self-Storage posted the results of a move-in survey. That study provided some interesting data on the demographics of self-storage usage. One of the data points that surprises no one is that 80% of storage customers use a promotion or discount on move-in.
But when we extrapolate that information, what becomes clear is that all self-storage centers offer some sort of deal to new customers. So how can you rise above the rest? The most effective way is to create customized offers.
Customized offers will give you the edge that you need to get attention in a competitive storage market. And the best way to design a customized promotion program that catches the eye of the right customer is to leverage your customer data.
Build an Ideal Customer Profile
Looking at the survey, it’s apparent there are different kinds of people who use storage units, for different reasons and for various lengths of time. Some of these rentals will be of greater value to the unit owners than others. By combining data to create an ideal customer profile, you can begin testing promotions to see which appeals most to that profile.
For instance, perhaps the most valuable unit rental for you is a long term rental. From your customer base, who rents for that longer term? Is it a particular income level? For a particular reason?
This data, when combined, will paint a picture of the customers you want to attract most. You’ll know if those customers are families or students, long term or quick turn over renters, large units or small. This knowledge is incredibly powerful. Once you have that information, you’ll have a profile of who you want to attract.
Offers that Speak to Your Customers
Once you have a picture of your ideal customer, start digging into the demographics of your area. For instance, let’s say your most profitable customer is families who are moving that have a household income greater than $80,000. It’s easy to pull together demographic data from the service areas around your storage centers. Marrying that data together gives you an idea where those that fit the profile live. That’s the group to target with offers that are the most attractive to them.
The last step is to compare the customer profiles you’re targeting with the kinds of offers you have seen work for them. This will guide you to create incentive programs customized for particular groups in specific regions.
Thanks to the nature of the storage industry, you already have a wealth of information at your fingertips. From previous customers to current renters, you have addresses and zip codes, lengths of stay, and more likely than not, what kind of promotion they used.
Use this data to gain clarity on who you want to attract, and then make it easy for them to choose you with customized offers. These will be the offers that make it hard for that them to say no to your services.
You already know they are going to use an offer or discount. Leveraging your data will ensure you’ve got the best offers, for the right customers.
Now that you have a strategy for finding those great customers, make sure you’re working with a payment partner that will help you give them the kind of service they deserve, as well as a partner that is invested in your success, like Forte. Contact Forte to find out how we can help your business by calling us at 866-290-5400 or emailing us at firstname.lastname@example.org.
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