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I was speaking with several self storage insiders the other day and one of them was lamenting about how is lost a rental because of a difference in $10 between his store and his competitor’s store. So we talked about price for a long while. And I guess we came up with a few points that may be obvious to some of you, but nevertheless, here they are.
1. Sometimes you will lose someone over $10 no matter what you try,
2. Sometimes you can overcome a $10 or even $20 difference by getting good at selling value and helping the prospect see convenience in your offering.
3. You always have to try to get off the subject of price and talk value.
4. You may need a way to answer people’s questions while saving price for later.
5. In some markets, you have to give a little in price to get the occupancy you need.
6. People inquiring about rentals ask about price because they don’t know what else to ask about.
Consider some of these points and give me some of your experiences in the Price Game. I would be curious to see what you think.
Bye for now, Tron
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Disclamer: This entry is intended to promote our partner StorageMart and some or all participants received compensation.
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