Value pricing has become an incredible method to increase your revenue while letting your customers choose what they value most in their storage unit.
In this Gabfocus Spotlight, Grace Totty of Absolute Storage Management discusses value pricing and how she and her company implemented it in the early stages.
Question: "Is value pricing here to stay?"
Check out the video clip below to hear their answers:
In this Gabfocus Session: Year in Review (2021), we spoke with a wide variety of guests including Chad Lundberg (The Storage Group), Alonna Ross (Storage Auctions), Jim Mooney (Freedom Storage Management), Stephanie Winfree (Interstate Self Storage), and Grace Totty (Absolute Storage Management). We had a great time discussing a variety of topics pertaining to 2021.
Check out the full Session to dive deeper!
Don't want to watch the clip? Here's what Grace had to say:
It's not as easy to adopt in some markets.
We've actually have been using, before we implemented technology—now we're using Veritec to help automate the system and make sure that it's in real time, up to date based on our competitors who are changing very regularly—but we used the system that we call spectrum pricing, which was kind of our beginning into value-based pricing.
And it's just a spreadsheet that we internally use as a tool to train some of our managers to help them start to think about Jim's concept of upselling.
And so I'm happy to share that with you if you don't want to jump into value-based and want to kind of step into it. It was really helpful just as a training tool.
Our website, we are actually really close to launching. It will better describe the value-based pricing and hopefully act like you're picking your seat on an airplane where you really get to understand the difference in these three tiers and so you understand why there's a price difference."
—Grace Totty
