Welcome to the self storage blog, where we keep a diary of the self storage industry.
Today a client with a new store about to open asked how the calls broke down as far as number or rental inquiries, non-rental inquiries and leads created.
Here is what we experience.
Typically about half of the callers we talk to are rental inquiries. He rest are current tenants or other callers. We usually turn 15-20% of rental callers into credit card reservations. The remainder of rental calls we turn into hot leads. There are usually no more than about 10% of rental callers who do not give us any information at all.
New stores do not always fall into these numbers until they have been up and running for a while. When the stores are not officially “open”, it is hard to capture many leads. Most people have a fairly immediate need and won’t give us info if they don’t think they can rent at that store in the next week or three. Until we have a current unit mix with pricing, it is difficult to create leads. People want to know about cost/value, and we need to be able to close them on all aspects of the storage experience to create a quality lead. It is next to impossible to get a credit card reservation until a store is officially open. People need that level of confidence before committing to store. New stores also attract a lot of sales people trying to sell yellow pages, coupon ads, etc. When we take “All calls” for a new store, the averages do not work out.
Once we start taking overflow calls and the stores are actually open for business, the averages start to fall into the norm. If a new store does a lot of advertising, then we get more like 75% rental inquiries rather than the 50% I mentioned until the stores starts to get a significant tenant base.
We have a winner for our Inside Self Storage Miami Conference Gold Registration package. Her name is Amanda Coyle. She entered our “pick your favorite self storage blog entry” contest. She picked entry number 84 as her favorite. Entry number 84 was the winner with the most votes, too. Amanda was picked at random from all of you who were kind enough to play the game. Yeah Amanda!
bye for now,
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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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