Top Tips for Growth After Self Storage Association Las Vegas 2018
The storage industry is STILL growing, as you’re already-aware. Is your ownership team ready to maximize the rest of the year to continue the momentum? After attending the Self Storage Association fall conference in Las Vegas, your team most likely returned home with renewed vigor.
If you did not attend, or want additional insights, we’ve got you covered.
Today, we’re talking top takeaways, self storage industry trends, and more in this video roundup on the Self Storage Association Las Vegas conference. Read through or view to learn:
- 3 Self Storage industry trends & insights after attending SSA Las Vegas Fall 2018
SSA Fall Takeaway #1: Expansions Creating the Need for Quality Leads
Healthy acquisition rates, investments, and portfolio expansions have continued to lead the charge in 2018, with no sign of stopping. It’s still very much a seller’s market. These vast expansions, whether in the form of new builds or renovations to owned facilities have driven a need for investments in self storage marketing.
How so, specifically?
Owners, self storage marketing professionals, and facility managers have recognized that strategic lead generation is necessary to remain profitable in hyper-competitive markets. Demand is directing traffic in these competitive areas, but facilities are having to work hard to capture that demand for themselves.
SSA Fall Takeaway #2: Facility Owners Are Starting to Think Like Marketers
The storage industry is evolving. This paradigm shift marks a turning point for self storage marketing professionals. For this self storage industry trend to continue gaining traction, additional adaptations will become necessary.
Want to separate your facility from the pack and take your self storage marketing to the next level? Leverage and utilize your first-party data and use data science to inform strategies.
What do we mean?
Use the following datasets to transform your approach to self storage marketing:
- Who’s renting from your facility
- How long that renter has been a customer at your facility
- What channel drove that renter to seek out your facility for use in smarter advertising
Data science can be used to optimize budgets in an intelligent and strategic fashion during this time of rapid expansion. That said, as we’re entering a slower seasonal period for storage markets across the U.S., data science can help your team pinpoint areas of impact to maximize investments and revenue and lead generation potential.
A lucrative opportunity for the self storage industry is to move beyond surface level data points. Leveraging data science and business intelligence for insights that optimize and drive strategy is a self storage industry trend that should be capitalized on sooner rather than later.
SSA Fall Takeaway #3: Storage Facilities Moving Beyond Cookie Cutter Branding
One of the most telling evolutions within the storage industry is the notion that intense competition has forced the need for differentiation. Again, this is due in part to aggressive expansions, investments, and new facility builds across markets in the U.S. & abroad.
The increase in options for renters has caused facilities to focus inward. Owners at facilities have shifted mindsets from, “I don’t care what my storage website looks like as long as I check off that box & generates some leads” to, “What do consumers think when finding my storage brand online?”
Thought leadership. Brand Awareness. Differentiation. These are the modern pillars of self storage marketing and customer acquisition success.
Now, storage owners are focusing on providing a seamless transition from their digital footprint to their physical address. It’s not uncommon for self storage owners to invest in and focus on their physical addresses, but this added emphasis on translating that same experience online is a continuing development that serves as a self storage industry trend to note.
Which Self Storage Industry Trends Will Make the Most Impact For Your Facility?
As our team bids the self storage association Las Vegas conference adieu until next spring, we’re left contemplating additional strategic advancements teams can leverage. While we hope your ownership and self storage marketing team applies the takeaways we discovered to propel your success, we also don’t want to purely help strangers.
Meaning, contact our team! We would love to hear from your facility, and if you didn’t pick up a fidget spinner pen at SSA Fall 2018, we would be happy to send you one. Here’s to leveraging insights for your continued success!