Keep closing

Welcome to our self storage blog, where we look at issues impacting self storage.

I saw the press releases yesterday on an effort to take over Shurgard. This is an interesting development. We’ll see how it pans out.

In the mean time, the best way to keep your properties cooking is to keep closing your leads.

Here are a few numbers you can cook with.

We had a few clients who were only closing 15% of the total leads and reservations we were sending them because they did not have a follow-up system in place.

Clients with follow-up systems are closing 35-45% of total leads and reservations. There is still 10 points left of improvement. How to reach it?

We have been doing follow-up calls on non-reservation leads for a few of our clients who follow up on their reservations themselves. This allows the store staff to concentrate on the “hottest” of prospects and allows us to try follow up calls at all times of the day. These clients are renting to better than 80-85% of reservations and we are turning up to 35% of non-reservation leads into rentals. So a good follow up routine on just non reservation leads is beating all leads and reservations total.

Many end users are leaving tons of money on the table by doing ineffective follow up or by letting leads and reservations go stale.

So shouldn’t these people learn to close better? It would cost something to sell them or teach them a closing system.

It might be a stretch to get people to spend money to learn how to close more leads and reservations. But you usually have a few people who say, “Hey I’d spend 10,000 to make 100,000 as many times as I can raise 10,000.” The rest will say, “10,000? What are you nuts?”

I’m not saying it would take $10,000 to establish a closing system. It was just an example.

I’m one of the people that would be looking for money to spend, if it would turn into more. My wife and I did a yard sale last weekend. We have small kids that are always outgrowing their clothes. And we collect a lot of stuff we never use every year. So we spent about $100.00 promoting it and brought in just shy of $600.00. So I’m annoyed that we are out of stuff, because I’d like to turn $100 into $600 every weekend!

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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