14 tips for maximizing revenue during busy season

June 17, 2014 0
14 tips for maximizing revenue during busy season

As you’re fully aware, busy season in the self-storage industry is in full swing. Now, you can fret all you want about the extra traffic coming in the door, but that won’t do any good. So why not do everything you can to maximize revenue during this hectic time of year?

Our friends at SpareFoot recently asked self-storage owners, operators and managers for tips on how to boost revenue during the busy season. Here are 14 of their suggestions.

1. Clear out delinquent accounts to make units available for paying customers.

2. Provide great customer service. “I have customers tell me they choose our facility because of the interaction when they called. I try to give the best service—even if it means sending the customer somewhere else for their benefit,” one survey respondent said.

3. Demonstrate to customers that you enjoy your job. A friendly, upbeat attitude can go a long way. “When you love your work, it shows,” one survey respondent said.

4. Follow the Golden Rule: Treat people the way you want to be treated.

5. Fully staff the office during your busiest times to help achieve a 100 percent closure rate.

6. Post ads for your facility on social media networks like Facebook and on websites like Craigslist.

storage discount

Offering a special could help maximize revenue at your facility.

7. Review your competitors’ rental rates each day and adjust yours accordingly.

8. Raise rents on size categories that have up to four units available. Continue to adjust the rents as other units of that size open up. “The aim is to get the unit price going consistently upward and the variance to shrink as the older, lower-priced units become available to rent at the higher price,” one survey respondent said.

9. Depending on current occupancy levels, consider offering discounts or specials. “Be smart about specials—know when you need to give a little to get a tenant who will end up being long-term,” one survey respondent said.

10. Do some networking by getting involved in community activities, visiting nearby businesses and checking in with apartment complexes in your neighborhood.

11. Market your facility to local moving companies.

12. “Upsell” tenants on high-margin merchandise such as boxes and locks.

13. Offer financial incentives to current customers who refer new customers to you.

14. Encourage word-of-mouth referrals from happy customers. One way this can be done is by asking them to post online reviews of your facility.

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