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How to Reduce Your Self Storage Customer Acquisition Costs
| Guest post by: Scott Meyers |
Article Overview: Think about the cost of acquiring this customer. What if it could cost less? What if it could lower your cost of acquisition by 20%? Think about how much money you spend on advertising. Yellow pages, magazines, newspapers, web, etc. Do you know the bottom line that each one of your mediums is bringing you? Do you know which is performing the best?
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Free Download - The Benefits of Fusion Marketing Your Self Storage Facility with Other Local Businesses By Scott Meyers |
How to Reduce Your Self Storage Customer Acquisition Costs
What could be better than gaining a new customer? A new customer
that pays a monthly rental fee, purchases supplies, and tells everyone they know
about your company. You would
think, “not much more”!But actually there is more you could ask for.
Think about the cost of acquiring this customer. What if it could cost less? What if it
could lower your cost of acquisition by 20%?It’s possible.
How you ask? Well,
think about how much money you spend on advertising. Yellow pages, magazines, newspapers, web, etc. Do you know the bottom line that each
one of your mediums is bringing you?
Do you know which is performing the best?
What about the cost you incur when someone calls your facility?
Again think about the cost of acquiring the new customer. Knowing this information is vital and
will help you cut costs in those low performance mediums. That’s money you can put towards your
other mediums or better yet your facility.
What’s that you say? “All your advertising mediums are up to par and
there is no possible way to improve them.” Keep dreaming!
If this were the case, your cost per acquisition can still be
lowered!
Think about this… You’re advertising dollars are making the phone
ring, but is it being answered every single time? What if your staff is helping another customer and misses
the call. Your money just went
down the drain.
Even if the calls do get answered is your staff capable to convert
the sale? Most likely no. But if
you could increase your conversion rate even by 5% it would drop your cost to
acquire those customers.
You can hire an outsourced call center or build a sales call center
in house. The in house sales center is harder to achieve but the payoff is
worth it.
If you’re interested in increasing your bottom line, it’s worth
doing some research on the subject.
We’ve used a number of Call Centers in the past with varying
results. I’d like to say that
there one or two that stand out, but in the end, we’ve had a great deal of
success with several, and each time we buy another facility, we revisit the
process of interviewing local and national Call Centers.
I suggest first looking to your statewide association, and then
Google “Self Storage Call Centers to begin your interview process as more are
coming online each day.
Assign marketing budgets that break the bank!
More Data Footprint Reduction (DFR) Material
Business How to Determine Client Acquisition Costs More Importantly Why Should You Know
Reasons your business needs self storage
Business Owners What Are Your Client Acquisition Costs
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About the Author: Scott Meyers RSS for Scott's articles - Visit Scott's website Click here to visit Scott's website   Self Storage Investing Webinars Can Hold Valuable Tips Recession Proof Real Estate Creating Your Marketing Plan for 2010 for your SelfStorage Facility Commercial real estate lenders optimistic in 2010 Self Storage Feasibility Studies |
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To add to your thread, I'd like to recommend Jonathan Tisch's "Chocolates On The Pillow Aren't Enough: Reinventing The Customer Experience".
Tisch's book includes content on "Welcoming Customers", "The New Art of Customization", "The Challenges of Customer Diversity" and "Offering Something Extra to Your Customers" to name a few.
Re: Paypal process $315 million in payments per day.
- I agree with you David, their Customer relations suck. This mean other payment systems like 2CO and WORLDPAY should work on their customers relations to take more slice of the market.
Re: Welcome to Entrepreneur University!
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Can you clarify?
If you join the "Preferred Customer" you are not entitled to commission? Why? This is the the $79.95/month account, I don't understand why you are not getting commission from it?
You can do this without financing your business with it
- If you are leaving your present employment or have retirement funds from a previous employer, you can rollover those retirement funds without any penalites or taxes involved (into your own business) rather than leaving them in someone elses business. You do not have to finance your business with your retirement to do this.
Here's how it works: Our resources form a C corporation for your new business, your C-corporation creates a new retirement plan. Funds from the existing retirement plan are rolled into your corporations new reitrement plan and your new retirement plan purchases stock of your corporation. The program is IRS approved! Contact me if you are interested.
FYI- This program has also been helpful for people obtaining an SBA loan for their franchise or Acquisition, because they can obtain the loan down payment for the loan from the rolled retirement funds (without penalties or taxes) rather than financing the entire business themselves. Contact us!
Re: Email Marketing Benefits
- Robert,
Many lists consist of more prospects than customers. Customer lists are the best, but they are created because prospects successfully transform into customers.
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