The REITs are using a price optimization strategy to maximize profits by adjusting unit prices. They do so based on a number of factors, such as availability of a certain unit and the occupancy rate. There are tools out there to let you be able to do the same. SiteLink has a really good tool called the SiteLink Price Optimizer. It is built right into SiteLink so that you can take control of 1 self storage facility or 100.
According to Go-Globe, 1 in 3 smartphone searches were made right before a store visit.If the adjusted prices don't reflect in real time on your website you could be stuck price matching what the customer saw on your website, instead of using the push rate price.
Let your website do the work for you
A StoragePug Marketing Website has the ability to automatically show those adjusted unit rates directly on your website! We do this based on a number of factors, customizable to your liking. We integrate directly into your Self Storage Management Software through their API (you can read more about SiteLink's API here) to pull in your adjusted rates. The customer does not know that the price is higher, but you now have a chance to increase your profits.
At the last TNSSA Luncheon there was a great speaker, Bob Copper from Self Storage 101. He said that a great way to increase the amount of packing supplies sold in the store was to simply ask the customer during the move-in process. It seems like such a simple thing to do, but it works! We have found that automatically adjusting the prices on your website is no different.
Automatically adjusting your self storage facilities' unit prices is one of the many useful features StoragePug offers their clients to maximize their revenue.
