For the last 30 years, self-storage has been the fastest growing commercial real estate venture and it forecasted to exceed $30 Billion within two years. With more than 50,000 locations nationwide, demand is high and competition is fierce. That means that if consumers can’t find your facility, they can easily find another. In order to be competitive, it’s necessary to spend money on advertising so that your business can be visible and be successful.
What method of advertisement is going to get your customer’s attention?
- Could it be a billboard?
- Finding your website on Google?
- Maybe it the local yellow pages?
Anyone of these can be good at drawing in new customers, but spending money on multiple methods of advertising isn’t an effective way to manage your ad potential. After all, purchasing various forms of advertising can be expensive and A much more cost-effective solution is to use intelligence or more appropriately call intelligence reporting.
Call intelligence reporting helps to remove speculation and fine-tune your campaign. For example, a location could purchase multiple toll-free and local numbers that can be used in various marketing campaigns and channels, each forwarding to the phone number of your target location. Our product, TeleTracker, makes real-time call intelligence a reality for local self-storage businesses. This lets your team know who’s calling, and how they found you, as soon as the phone rings.
Various factors such as the number of calls, the length of calls, and caller ID information can be traced back to each number. After finding out which method generated the best leads, it’s easy to see where ad revenue should be invested. This is because you’ll be able to see which channels of advertising with most successful at generating leads and ultimately lead to a closing the most deals. You’ll also see which advertising channels were weak, and be able to figure out if it’s either worth the investment to continue.
Call intelligence reports can be used to improve the quality of your facility’s customer service. Think of these reports as a safety net. If your business missed a call, that deal can still be closed. You’ll know when the call came in, and who called, so a follow-up call could lead to a great sale. Phone call analytic reports also tell you when call volumes spike so that your team will be better prepared for an additional volume of calls, based on trends. Reports can also be cross-referenced with what units people are willing to rent from a facility or even how frequently a regular caller may call in. When frequent customers call, call intelligence reports allow your agent will be able to go through their history faster and spend less time verifying who your customer is and assist with calls faster. Based on the call intelligence history, your agent can easily figure out if there’s a good chance of encouraging them to upgrade to an air-conditioned unit.
The price tag typically associated with data collection and analytics services has restricted start-ups in the storage industry from gathering the type of information that will allow them to compete with the big boys. Trends are important when it comes to sales. Comprehensive call tracking reports will allow you to forecast peak rental periods, and how to better manages your marketing budget as a result. Then determine how much to spend on the various marketing efforts in order to attract new tenants.