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Do you like competition? Are you driven by beating someone else to the punch and winning the game? If so, if you are not in the self storing business, then you are in the wrong game. Now of course, some of you might be a lawyer, sports player or some other type of competitive profession, but this industry is right now more competitive than ever.
What is great about the industry being so competitive is that the self storage customers are going to benefit greatly. No one really wants to put their belongings into a storing space, but they have the need to. That is why the first person with the idea hit the ground running with self storing. It is assured when the first building was erected, that person did not believe, at that point there would be so many different companies out there fighting for the dollar of the customer.
Self storage customers are some of the smartest people when it comes to finding what they want. Now there are many people who are looking for storing for the first time, but they are still aggressive to get what they want. Self storage customers usually will call maybe two or three places looking for the best deal. They will open up the yellow pages and start dialing phone numbers to storing facilities looking for who will give them the best price. For most, that is the fundamental flaw that the managers on the phone or one of the other associates have to overcome.
Currently, we are all being programmed to find the best value for our money. Money is tighter than it has been for years and we want a great value in what we needed. When it comes to the self storage customers , they believe that they need to find the cheapest price, but in reality they need the best space for what their needs tell them.
You will see if you could listen to some of the calls the managers take at the facilities, the customers call, ask for a certain size space, they hear the price and they try to end the call. In most of their minds, they do not want to hear what is next. If they are going to rent from that facility they will come down and give them money. What most managers do is that they stall before they give the price and then try to sell them on their individual facility. That is the best way to do it. The associates at the facility need to be able show the caller the value of renting there so they do not have the need to keep searching. That might sound easy enough, but it is difficult.
With the self storage customers these days, they expect to pay so much less than what we are offering them. In order to get those extreme price shoppers into a space, you will see some companies telling the customer they can rent their space for only a dollar. Most self storage customers , of course, are all over that special and want the reserve the space right now. So when a customer has rented a space for only one dollar before, it is hard for them to want to spend any more for their first month than that amount.
Some of you might be thinking, how and why would a company offer a customer to move in for a dollar? There is no way the company could afford to keep their facility if they do that. Well think about the flip side of that. If they have 30 empty spaces going for 80 to 200 dollars, that are not being rented, at least getting a dollar for it is better than losing money. Of course most companies only offer the dollar move in special for the first month and then the second month is the regular rate. The idea is just to get the customer to rent with them and realize they actually might need to store later. The companies are doing whatever they can to stay a float in this current market and get more self storage customers to think the way they want them to think about renting.
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