On Thursday, March 14th Linkmedia 360 and StorageMart presented in front of a packed audience during their Concurrent Educational Session, ‘Leveraging Data Science to Create a Marketing & Opps Scorecard that Drives Occupancy.’
For those self storage marketing teams unable to attend, we’ve compiled some of the top insights to apply in your organization or REIT’s strategy. In this post, self storage marketing teams and owners will learn:
At SSA Spring 2019, Linkmedia 360 introduced attendees to the MOVE framework we deploy to help client partners reach their goals.
During the hourlong Educational Session, our team covered a lot of ground. Check out some of the insights highlighted below:
What do we mean?
Data integration is essential to connect self storage marketing data with operational data. While data integration enables efficiencies and scalable processes through automation, the automation itself isn’t a solution. Automation doesn’t replace humans or the human element of using critical and strategic thinking to identify underlying problems. Left alone, automation will only magnify existing problems that could be created by using inaccurate or inconsistent data points.
To successfully implement automation to solve your self storage organization’s business problems, rally your teams together and use human oversight to avoid the unintended consequences automation can create if left unchecked.
When your organization has its people, process, and technology working in tandem, it will be able to impact the key performance indicators (KPIs) needed to influence a desired outcome. Often, the desired outcome is to remain competitive in highly saturated markets, produce a favorable ROI and maximize profitability potential. Some KPIs your organization may want to consider on a granular level for individual locations include:
Self storage marketing teams will need to closely collaborate with owners and operators to identify the KPIs that it wants to apply a data science initiative to. After that legwork is implemented, your organization will be able to create a scorecard to impact individual locations on a hyperlocal level.
For specific notes from our presentation at SSA Spring Conference 2019 or our MOVE method, contact our team. We’ll listen to your team and will carefully construct a customized strategy to help you surpass your goals.