3 Impactful trends to help your self-storage business
Finding relevance to connect with your target customers, you need to keep up with the trends of the times or get left behind. Interacting through the use of technology, smartphones, apps, responsive mobile websites and social media, to name a few. Engage with the generation that are your future and will become continuous customers. Find out what their needs are and how to offer a solution without them even realising that your self-storage facility is just keeping up with the latest trends!
- Catering for Millennials
Millennials are becoming the most active customers of those using self-storage, expecting operators to engage through the use of technology, smartphones, apps, interactive websites and even social media. As the Millennial generation founded the social media movement, having been born directly into a new era of technology between 1977 and 1995, their interests, backgrounds and expectations stretch well beyond their status updates. This generation’s digital know-how means that marketers and brands need to step up their games in order to keep up and interact with them.
These 18-to-36 year-olds are worth the effort because they make up 24 percent of the U.S. and are 77 million strong in the country’s population. The mere size of this group and age range highlights its long-term purchase power. Given their fluency and comfort with technology, Millennials have more of a positive view of how technology is affecting their lives than any other generation. More than 74 percent feel that new technology makes their lives easier, and 54 percent feel new technology helps them be closer to their friends and family.
That’s why they’re always glued to their smartphones-devices, more than any other generation. Access to technology and devices is fueling Millennials’ ability to stay social 24/7. Younger Millennials access social media sites more on their laptops than mobile devices, while Older Millennials log in more on mobile apps. Regardless of device, both groups are checking in socially between 20 and 21 hours each month.
What does this mean to self storage busnessess? According to businesswire.com, when your facility is offering virtual tours, online bookings and payments, self-service kiosks, and automated access, you are improving on market effectiveness and providing an impetus to market growth, increasing occupancy, and enhancing the tenant experience through the integration of artificial intelligence (AI) and the Internet of Things (IoT) to monitor all storage units.
- Online channels to provide new opportunities
With the drop in competitive advantage of physical location, online channels provide new opportunities for emerging storage innovators. Players have been focused on competitive pricing, promotional activities, advertisements, and added features such as parking facilities, 24×7 access, and climate control, to name a few. The presence of these players and their constant innovative activities are boosting the market scenario.
Just look at the numbers! The global self-storage market was valued at USD 48.02 billion in 2020 and is expected to reach a value of USD 64.71 billion by 2026, registering a CAGR of 5.45% over the forecast period, 2021-2026. The growth in the self storage industry is expected to be rising during the forecast period, owing to the trends of expanding urbanization and improved economic outlook and with all of these factors, it will lead to the development of new businesses.
- Automated unit rentals for self-storage facilities
Get ahead of the competition by automating your self-storage facilities, offering an enhanced customer experience. Another way to impliment and keep up with the trends of the era. Looking at ways to combine the power of self-service technology with the self-storage industry, this can reduce costs and increase profits. Having a fully-automated unmanned storage facility and implementing a cloud-based self-storage management software.
Providing a service to your customers 24/7 and helping you to manage and administer remotely, from wherever you are, which will empower you with more time and flexibility to take control of your day-to-day operations. Many operators have discovered that the more automation tools they implement, the greater the benefits they experience in regards to everything from operational efficiency to demand generation.
Many customers today show a preference with conducting transactions via a screen as opposed to face-to-face. Through automating your self-storage units, you’ll be increasing the upsell potential to your customers and have the outcome of convenience for customer satisfaction.
Keep up with the trends and take your customer service to a whole new level. The Tymac Group understands the importance of creating a facility that meets your needs, visit us to see for yourself.
