Not to get all Morpheus from ‘The Matrix’ – but what if I told you that 40% of enterprise level data is inaccurate, incomplete, or unavailable? Whether your self-storage facility has one location or 100, it’s easy to see how important clean data is to the success of any organization.
To save your facility or self-storage marketing team both revenue and time, we take a spotlight on analytics. In this post you’ll learn:
1.) Self-Storage Sector Earnings Are Beginning to Level off in 2018 – The Wall Street Journal cites new supply flooding the market, with the REIT earnings boom from 2010-2016 soon becoming a thing of the past. The biggest self-storage companies are adopting and investing in data analytics and search engine optimization tactics to stay competitive. Your self-storage facility should follow suit and focus on clean data reporting to inform strategies.
2.) Tis The Season – The spring and summer seasons offer self-storage owners a golden opportunity to make a positive impact on occupancy. Self-storage marketing teams should be using its data to maximize this time of year for a facilities betterment.
Given that the industry-wide earnings are leveling off and the busy summer season is under way, it’s easy to see why a storage facility will need up-to-date and accurate data. Accurate data will help your facility “close the loop” on its sales process, by using it to solve real life applications and addressing your business problems.
For example, your data may reveal your facility rents more 10 X 10 units this time of year. Your team can use that data to boost profitability by temporarily raising the price when a shortage occurs, to maximize the occupancy opportunity, while keeping profitability at the forefront. Conversely, strong data and reporting will indicate when it may be a good idea to provide a discount for a tenant, to earn a loyal customer, or supplement sales during a downturn.
1.) Track EVERY page – As an owner, you may only be concerned with the pages that drive your business revenue. Fair. To better understand prospective site visitors, your facility will need the entire customer journey on your site. By implementing the most current tracking code, placing that code on the proper place within your site, and having a tracking/tagging strategy in place, your facility will have the opportunity to tell that story and will understand your self-storage customers journey better, by having clean data that helps your facility support it.
2.) Make sure your self-storage facility isn’t tracking facility/company traffic – One of the easiest ways to skew your facility’s analytics data is by pulling information from visits or sessions within your company. If your facility is tracking the data from its staff in addition to site visitors, its operating with flawed, corrupted data. Your Google Analytics guru will need to block site traffic from getting tracked, in addition to blocking the IP from any device accessing your Google Analytics data.
3.) Use Google Tag Manager – Google tag manager provides an easier, simplified way for self-storage marketers to track site traffic, while enabling accurate data reporting without having to be an expert in code. Google Tag Manager integrates into your Google Analytics relatively seamlessly, making custom dimensions, retargeting, and User ID tracking. While Google tag Manager isn’t perfect and does pose its own set of limitations, it takes data reporting to granular, customized levels.
There are a lot of tiny mistakes that could land your facility with the 40% of enterprise-level businesses that work with bad data. Hopefully by following our advice your self-storage marketing team is better equipped to close the loop on sales by allowing its site data to inform your overall occupancy strategy, especially during this peak time of year.
There’s no shame in having a question, and if your facility needs help implementing our recommendations, contact us. We’ll be happy to set your team up for success, so its data reporting provides real insights, not just data points without context.