Value Pricing: Gabfocus Highlights

Knowing what to charge is one of the core decisions a facility has to make. How do you know what a unit is worth? More and more facilities are using value pricing because they're finding that customers care about more than just the unit size.

In this Gabfocus Session we dig deeper into the challenges around pricing, how value pricing works, and how it can be implemented into your facility.

Traditional pricing for storage units has centered around size. A smaller unit costs less than a bigger unit. Right?

Well, in the words of Warren Lieberman, "The size of your unit is only one aspect of what people are willing to pay for." Watch his full thoughts below.

In this Session, we learn how pricing can be dynamic and really depends on what matters most to a customer.

Borrowing insights from other industries, our storage experts, Warren Lieberman and Jim Mooney, discuss how significant convenience and availability should be when pricing your units.

In short, the value of your units isn't static. Introducing dynamic value pricing to your facility, can not only help you get more out of your units, but it lets your customers prioritize and choose the qualities about your units that matter to them most.

We went ahead and found some of our favorite parts if you don't have time to watch the whole thing.

• at 4:58 Warren talks about pricing being a result of customers' values
• at 7:13 Jim reminds us why we can price units higher when we offer better service and features
• at 17:53 Warren teaches us what value pricing is and why convenience can be even more valuable to customers than size
• at 27:17 Jim gives specific examples of amenities and features he uses to differentiate his units and implement value pricing
• at 42:48 Warren tells us static pricing is a no-brainer and sets expectations about dynamic pricing for different types of facilities
• at 59:42 Warren and Jim discuss the biggest hurdles to introducing value pricing

We can't say it enough: this Session was a really good one! Be sure you check it out.

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