Take a look at our 7 expert tips on converting leads into renters.
In the self storage industry, a reservation or a rental is typically the measured conversion. Our previous article on self storage online marketing, focuses on the methods of attracting leads, which is essentially only half the job. In this article, we focus on turning these leads into customers. Take a look out our 7 expert tips below to learn how.
A study on how potential clients find a company for their self storage needs showed that online search, aggregators, yellow pages, and billboards topped the list.
Come up with appropriate marketing strategies using these channels if you want to drive more leads to your business. You could also create incentives such as rewards upon referral to turn a potential customer into a tenant. A great new way most self storage businesses market online is with the use of short and informative videos.
This requires you to answer your calls religiously. If a lead calls and your team is unable to respond promptly or adequately, you’ve lost a tenant without even getting started. You’re probably wondering what type of organisation doesn’t pick up the phone.
A recent study revealed that over 25% of calls to a business are answered after three rings, with half of them being answered through voicemail. Ensure that you’re always available for enquiries from your renters, otherwise they are bound to go elsewhere
Try to gather as much information as possible on your prospective leads. The goal isn’t to force a sale but rather to understand the customer’s need. This way, even if what they’re inquiring about is unavailable, you can suggest an appropriate alternative. Tell them about the special packages you offer with your space. Security, accessibility, climate control [insert link], and insurance are a few things that could turn a lead to a renter.
Creating an online presence is no longer a nice-to-have. Consumers these days expect all services to be online and booking & managing their self storage units is no exception. Make your website is user-friendly and mobile-responsive. A large portion of your leads will be looking for storage from their phone and SEO rankings are severely worse if your site doesn’t work natively on mobile. Your leads should be able to get quick answers to their questions so include an FAQ page and consider adding an on-site chat service too which helps also with customer engagement. Also, adding a customer portal to the website is a great way to allow leads to rent and manage their units and invoices at their convenience.
Tenants are not the only ones who should run a check on a potential self storage provider. You should also screen your potential renters. You can significantly reduce defaults and late payments by checking their credit scores and verifying the identity & profile of online sign-ups. There are a number of services out there to help streamline this and provide you with the most up-to-date information on your potential tenants.
…but don’t be pushy. Let your client make their decision on their own. Just give them a gentle push in the right direction. Having a go-getter attitude also requires you to canvass for potential clients. Acquaint yourself with possible businesses that may require storage spaces and search for people who would eventually need it. Such businesses include a storage space for an e-shop, second-hand goods store, a music or photo studio, or even a fixing company. The possibilities are endless.
Chose and invest in management software that works for both your customers and your business. It is important the software works from anywhere and includes features such as automated billing, online move-ins, interactive site maps, comprehensive reporting and integrates well with security systems and other services providers.
In the next couple of decades, the self storage industry is expected to continue growing exponentially. Once you become an expert in attracting and converting leads, you’ll be in a great position to expand your business in the long run.
Related Article: Should you Automate your Self Storage Facility?
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Frequently asked questions
How can I increase the conversion rate of my self storage business?
To improve your conversion rate, consider implementing the following strategies:
- Lead Management: Focus on capturing and effectively managing leads. Respond promptly to inquiries and provide helpful information to potential customers.
- Customer Service: Offer exceptional customer service throughout the entire sales process.
- Pricing and Value: Ensure your pricing is competitive and reflects the value you provide.
- Online Presence: Optimise your website and online listings to attract potential customers.
- Marketing and Advertising: Develop targeted marketing campaigns to reach your ideal customers.
- Facility Appearance: Maintain a clean, well-maintained facility that creates a positive impression. Aesthetics and security measures can greatly influence a customer’s decision.
- Staff Training: Provide training to your staff to enhance their sales and customer service skills. Remember, conversion rates can vary depending on several factors, and it’s important to continuously monitor and improve your processes to achieve the best results for your self storage business.
How do I grow my storage business?
To grow your storage business, consider the following strategies:
- Expand your facility to accommodate more customers and increase revenue.
- Introduce retail sales to offer customers storage-related products and increase profits.
- Offer unit upgrades or rental equipment to attract customers seeking enhanced storage options.
- Provide speciality storage units for specific customer needs, such as climate-controlled or vehicle storage.
- Include additional services like packing supplies, moving assistance, or document shredding to add customer value and generate extra income.
What is a good conversion rate for self storage business?
The average conversion rate of calls to sales in the industry is around 35 per cent, it’s important to note that some operators perform better, and others may have lower conversion rates. To determine a good conversion rate for your self storage facility, it’s helpful to benchmark your performance against industry averages and the performance of similar facilities in your area.
What is conversion rate optimization for small businesses?
Conversion Rate Optimization (CRO) for self storage refers to improving the conversion rate on a self-storage facility’s website. The conversion rate represents the percentage of website visitors who take a desired action, which typically involves reserving and renting a self storage unit in the case of self storage operators.
The primary objective of CRO is to enhance the likelihood that visitors to a self storage facility’s website will carry out the desired action of reserving and moving into a self storage unit.