G5’s Self Storage State of the Industry Report for the first half of 2018 is now available to download. The report is a comprehensive overview of economic outlook, current industry policies, upward trends and challenges. It also includes specific markets to watch and how those markets will interact with innovative digital advertising channels.
Report Recap: Market Trends
The self storage industry is in a period of high growth, increasing demand and outpaced development. Self storage developers and investors are committed to two distinct groups of people: millennials and baby boomers. Both groups are choosing multifamily over single-family homes and may need additional storage space to meet their needs. Waiting to purchase a home or downsizing from an established family home are driving the demand for more self storage units for these two groups.
This year, the self storage industry is expected to deliver 48 million square feet of new storage space, outpacing even 2017’s high levels (Marcus and Millichap). However, the industry may be facing a 9.7% national vacancy.
What to Expect: Report Analysis and Predictions
The current Self Storage Investment Forecast National Report from Marcus and Millichap was analyzed for valuable insights on primary and secondary markets, including investment outlooks and rent trends. Based on Google data, the report assesses self storage search and advertising trends and the role of mobile devices in paid search.
The report pairs demographic insights with digital advertising analytics to show how the top 10 markets to watch will compete during the second half of 2018. Insights include cost per click (CPC) averages, peak search months, mobile use and upward trends.
Digital Marketing Trends & Landscape
Driven by the ease and convenience of mobile technology, consumers, regardless of what they are looking for, expect to find the right answers, right now, online. Your prospective customers are no different and need to be able to complete the entire self storage customer journey, from discovery to lease, online.
We also discuss the power of the mobile device on where your website shows up on the search engine results page.
Emerging Technologies: Augment the Customer Experience with AI
The impact of Artificial Intelligence (AI) in marketing has only begun. When coupled with human-powered creativity and strategy, AI will deliver fully personalized advertising, market predictions and more efficient sales strategies.
We answer a number of questions marketers are asking: What is AI? How can it empower my team? Is it capable of meeting the needs of my audience?
Download the Full Report
Too busy to do industry research yourself? We have removed the guesswork from what to review and how to analyze so that you can focus on converting leads. G5’s Self Storage State of the Industry Report, Q1 and Q2 includes data-driven insights, market predictions and industry-specific strategies that will help you make the most of your marketing budget and time this year. Take the demo to learn more.