Keeping Watch Over the Competition

Written by: Jeanne Dotson Posted: 7/6/2017
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At self storage industry shows, one of the most requested marketing tools from facility owners and managers is easy access to competitive information in their market. It is time consuming for facilities to run their own business while also keeping an eye on what the competition is doing. After all, remaining competitive in your market is imperative for self storage businesses.

To help alleviate this pain point, look for a tool that allows you to make crucial storage rental rate decisions based on market facts. Competitive data can provide you with real-time pricing intelligence from local competitors, so that you are always one step ahead of your competition. It is also best if this information is accessible through an easy to use tool or dashboard.

Look for a tool that will provide information on:

  • how your facility’s prices compare to other facilities in your target market
  • competitor pricing broken out by unit size as well as storage unit type
  • the percentage of your units that are overpriced and underpriced compared to the average in your area
  • a map to determine which facilities are being used in the market comparison

How can you utilize this competitive pricing information?

There are a variety of ways this type of information can be used to make strategic marketing decisions. For example, it can help you identify the storage unit sizes, prices and specials that will be most effective in your pay-per-click ads, social media posts and other marketing materials. If your facility is thinking about adding new storage units to your facility, having this information could help determine which unit sizes are needed in your market. This type of data can also be helpful to identify trends of which other facility owners and operators may not be aware.

The self storage industry is highly competitive. All owners and managers need the proper tools in place to help them make data driven decisions. Make sure you know what is out there to make those decisions based on the facts in your market.

About the Author

Jeanne Dotson is the director of Internet marketing strategy at The Storage Group. The Storage Group has over 60 years of combined storage industry experience. A dedicated team of Internet marketing professionals specialize in Market Intel, Reputation Management, Website Design, Search Engine Optimization (SE0), Pay-Per-Click Advertising (PPC)and Local Listing Management. The Storage Group was the first in the self storage industry to create an online rental tool known as ClickandStor®.

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