3 Ways to Increase Self-Storage Revenue
Running a business can be challenging and stressful, no matter what industry you are in. But those running a self-storage come with their own unique challenges. Not only are your audience and customers completely unique but marketing to them is also very different from any other company so you will need to take a different approach.
This is especially true in this economic climate where customers are starting to look to cut expenses and tighten purse strings. With many countries globally on the brink of recession, businesses are looking for all the help they can get for expansion.
So, how do you, as a self-storage business owner, look at expanding your business and increasing your revenue? We spoke to several companies to find out what their secret to success is and how they go about attracting new customers.
Create a Workable Business Plan
Whether you currently have a business or are looking to start one, a business plan is absolutely key to the success of your brand. A business plan not only helps you guide the strategic direction of your company but also assists in helping you secure funding. A self storage business plan will provide any stakeholders and investors with the information they need to know what the ROI is of investing in the business.
So, how do you go about writing a business plan? There are a few essential elements that you will need to include in your business plan:
- A customer breakdown. List who your customers are, what their demographics are, and what specific needs they have.
- A competitor breakdown. Who is your immediate competition? What are their offerings? What are their price points? How extensive is their customer base?
- Define your USP. What services or offerings do you have that are different from your competitors and what is your unique angle?
- Breakdown of your services. What kind of self-storage units do you offer? Do they come with insurance? Are they heat controlled? Are they low-cost units? If you offer VIP units, what can your customers expect? Are there any add-on services that you offer?
- An operational breakdown. How is the company structured? What processes do you follow? What is the management structure like?
- Your marketing and sales strategies. How do you focus your marketing and what channels are you going to be using? What is your marketing budget?
- Your strategic trajectory. What are your achievable goals for the next six months, year, and five years? How are you going to achieve them?
This is critical for not only your stakeholders and third parties, but also for yourself. If you line up solid goals in your business plan, you are more than likely going to meet them.
Focus on Qualified Leads
There are a number of ways to make sure that the leads coming into your company are qualified. And it really does take a lot of lead generation efforts from your side. There are a number of ways that you can refocus your efforts to make sure that the leads that are coming into your website will actually convert to customers.
Firstly, focus on your lists and databases. You will want clean data in your mailing lists, with email addresses that are attached to real people. But with this, you will want to be sending them good content and emails that appeal to them.
If you are struggling to build up these lists, look at doing some web scraping. Essentially, web scraping is the use of software or code to pull information from the internet and turn it into a presentable form. With this, you are able to collect vast amounts of data that will help you build up your leads and lists.
Upgrade Your Website and Web Presence
Everything can be done online these days. And this includes your digital marketing. So, take a step back and look at your website and see what needs to be done on it to overhaul it for the ultimate customer experience.
Not only will you want to look at the aesthetics of the site, but you will also want to look into your SEO and keywords. Remember, keywords show up on your customers’ searches, so if you want to appear on the top of the page at all times, you not only have to have the right keywords in place but you will also want to put money behind this.
Many companies fall short with their digital marketing by not boosting social posts and not taking out paid ads. This is the only way that you can make sure that qualified leads who are actually interested in your services can find you, especially those outside of your direct audience.
Know what your customer wants to see, and cater to that. Focus your entire business solely on the needs and desires of your customers, and make sure that comes through in your business plan, as well as your marketing and messaging. The more content you get out that they want to see, the higher your conversion rates will be.