Thread: How important is price to the customer?

Is the self-storage customer more sensitive to price because of the slow down in the economy? If so, how are you overcoming it?

Pricing is a challenge for us, we are often told were expensive but we try to up sale our facility with the features and if needed move in specials to overcome price shopping...

Price is huge around here -- when they call on the phone they don't want to hear anything abut your facility or security -- they only want to know what is your price and what specials are you giving.

It's hard to compete with the $1 move in jokers, but we are seeing return customers who tell us they would never consider storing anywhere else!

I don't have much of a price issue up here. Generally, if they complain, I remind them that they are getting the first month on me, and if they complain too much, I'll toss in a lock.

Thanks for the feedback. It seems some of you are more sensitive to price than others. This is consistent to what I am finding around the country. Seems that areas that have been hit harder by the economy and/or more competitive are getting hit harder.

I will be speaking on this subject at the upcoming ISS World Expo in Vegas so thanks for this information as it will help me prepare for my presentation.

Any other comments on how successful you are at setting appointments over the phone and how you are getting the customer to visit your store?

Thank!

We are told often that we are higher priced however I am usually great at pointing out why we might cost a little more. I generally get the call converted to a rent. We offer a move in special and Free use of a moving truck to move into storage and this has been a huge deal because in the first two months generally the competitors lower price can't save them that kind of money. I also take a great deal of pride in knowing that once I get them here and they see the difference them self in the facility and the customer service, we have made a long term repeat customer who does in fact sell us to their friends and family. Competition is steep, we are just staying the course.

Almost always the first question asked when I answer the phone is, "How much for your cheapest unit?"

Last week I decided to offer new tenants the rest of the month free, Merry Christmas. I rented 4 units in one day, and at this time of year, that is phenomenal. I did not advertise the Merry Christmas special, I just mentioned the free rent to callers. So now I wonder, would I have rented those units to those same callers anyway, even without the free rent?

I have the option of a $1.00 move in special I have used a couple times but I really don't care much for that option, I would rather up sell our facility and try a little more profitable move in special..