In the self storage business, there’s not always a lot of opportunities to have one-on-one contact with your customers. And chances are, if you do, it’s to talk about maintenance or contracts. So how do you get reviews or testimonials that will help your business from existing customers?
Why should you have reviews?
Customer reviews are an excellent way to give first-hand experience on your company. Potential renters will appreciate opinions from those who have already dealt with your business and will be more likely to trust you after hearing others’ reviews. Having existing customers review your business will also show that they are not only satisfied with the services, but confident enough in their experiences to share them with others.
Using testimonials are also a form of marketing with minimal costs as sites such as yelp, yahoo local, etc. do not charge for users to post or check reviews.
How to obtain self storage reviews
If you don’t already have customer reviews for your self storage business (a quick google search can find this out for you), a good tactic is to be direct with your customers. Ask them to post for you … their honest opinions though, as the reviews should be genuine. Let them know you are trying to expand your market and a review from existing customers will let others know what to expect. You may offer those who agree a coupon of sorts, or a discount on services in exchange for their review. Just make sure whatever you offer them does not come off as bribery or payment. However, a simple this-is-for-your-trouble coupon can be a sincere form of thanks.
Another great way to get exposure is to offer deals to new customers. The sale will get the buzz out about your company, and renters have a reason to contact you because of the new-timers discount. And, those who are satisfied are sure to pass along the news, either through word of mouth or through their own personally-written testimonial.
Keep these tips in mind the next time you’re marketing your self storage business to help bring in new customers and keep your current ones involved and happy.
By Scott Meyers
Published 29th July 2011
In the self storage business, there’s not always a lot of opportunities to have one-on-one contact with your customers. And chances are, if you do, it’s to talk about maintenance or contracts. So how do you get reviews or testimonials that will help your business from existing customers?
Why should you have reviews?
Customer reviews are an excellent way to give first-hand experience on your company. Potential renters will appreciate opinions from those who have already dealt with your business and will be more likely to trust you after hearing others’ reviews. Having existing customers review your business will also show that they are not only satisfied with the services, but confident enough in their experiences to share them with others.
Using testimonials are also a form of marketing with minimal costs as sites such as yelp, yahoo local, etc. do not charge for users to post or check reviews.
How to obtain self storage reviews
If you don’t already have customer reviews for your self storage business (a quick google search can find this out for you), a good tactic is to be direct with your customers. Ask them to post for you … their honest opinions though, as the reviews should be genuine. Let them know you are trying to expand your market and a review from existing customers will let others know what to expect. You may offer those who agree a coupon of sorts, or a discount on services in exchange for their review. Just make sure whatever you offer them does not come off as bribery or payment. However, a simple this-is-for-your-trouble coupon can be a sincere form of thanks.
Another great way to get exposure is to offer deals to new customers. The sale will get the buzz out about your company, and renters have a reason to contact you because of the new-timers discount. And, those who are satisfied are sure to pass along the news, either through word of mouth or through their own personally-written testimonial.
Keep these tips in mind the next time you’re marketing your self storage business to help bring in new customers and keep your current ones involved and happy.
Last week, we talked about new tips for marketing strategies for your self storage business by purchasing TV time slots. Today, we’ll take the idea of marketing through television and expand on it even further. For those who have already made an investment in TV time slots, you’ll understand the ease of getting your name out there through the power of commercials. However, for those who are wanting to expand on their commercial, there are many options to utilize TV ratings even further.
Start by checking in with your local TV station(s). Oftentimes, smaller stations will have a channel that is very similar to a radio show. Radio ads are played along with a picture of the business and contact info. This is not only a way to reach a larger number of people, but to capitalize on another channel through advertising, while essentially offering them two separate ads as only one is through video.
Next, check the station’s website. Do they sell ads? Purchasing an online ad next to the classifieds will ensure that interested consumers will see your self storage ad. The ad can also be seen by those who may be more technology savvy and may record their shows or watch them online.
Finally, ask any TV or radio stations if they are looking for any sponsors. When they cover a live event, these stations may have banners or give away items for listeners and viewers. By buying one of these spaces for your company, you will get your name out there by spending minimal amounts. And if you participate in the giveaways (self storage businesses could offer free keychains or calendars), consumers will be reminded of your business while also passing along your info to others.
The next time you’re working on your self storage business’s marketing strategies, keep these simple yet effective ideas in mind.
By Scott Meyers
Published 28th July 2011
Last week, we talked about new tips for marketing strategies for your self storage business by purchasing TV time slots. Today, we’ll take the idea of marketing through television and expand on it even further. For those who have already made an investment in TV time slots, you’ll understand the ease of getting your name out there through the power of commercials. However, for those who are wanting to expand on their commercial, there are many options to utilize TV ratings even further.
Start by checking in with your local TV station(s). Oftentimes, smaller stations will have a channel that is very similar to a radio show. Radio ads are played along with a picture of the business and contact info. This is not only a way to reach a larger number of people, but to capitalize on another channel through advertising, while essentially offering them two separate ads as only one is through video.
Next, check the station’s website. Do they sell ads? Purchasing an online ad next to the classifieds will ensure that interested consumers will see your self storage ad. The ad can also be seen by those who may be more technology savvy and may record their shows or watch them online.
Finally, ask any TV or radio stations if they are looking for any sponsors. When they cover a live event, these stations may have banners or give away items for listeners and viewers. By buying one of these spaces for your company, you will get your name out there by spending minimal amounts. And if you participate in the giveaways (self storage businesses could offer free keychains or calendars), consumers will be reminded of your business while also passing along your info to others.
The next time you’re working on your self storage business’s marketing strategies, keep these simple yet effective ideas in mind.
Press Release
Self Storage Profits, Inc. Assists First-Time Investor in $1.1 Million Acquisition
Self Storage Profits, Inc., a self storage education and mentoring firm based in Indianapolis, recently assisted another student in the acquisition of a self storage facility in Danville, Illinois using the SBA 7(a) loan program. The property is an older facility in a secondary market that has recently undergone a significant facelift, modernizing it with above-average technology upgrades including a sales kiosk. The property, previously branded as Always Open Storage, was immediately rebranded as Steady Storage under the new ownership.
“It’s so exciting to see another one of our students, David Manka, become a first time self storage owner” said Scott Meyers, founder of Self Storage Profits, Inc. “The deal had it’s fair share of challenges, but in the end, our staff of mentors and lenders were able to close the deal for David, which provides more proof that the market is nowhere near as bad as people perceive. We are looking forward to closing several more deals like this in our pipeline throughout 2011.”
By Scott Meyers
Published 14th July 2011
Press Release
Self Storage Profits, Inc. Assists First-Time Investor in $1.1 Million Acquisition
Self Storage Profits, Inc., a self storage education and mentoring firm based in Indianapolis, recently assisted another student in the acquisition of a self storage facility in Danville, Illinois using the SBA 7(a) loan program. The property is an older facility in a secondary market that has recently undergone a significant facelift, modernizing it with above-average technology upgrades including a sales kiosk. The property, previously branded as Always Open Storage, was immediately rebranded as Steady Storage under the new ownership.
“It’s so exciting to see another one of our students, David Manka, become a first time self storage owner” said Scott Meyers, founder of Self Storage Profits, Inc. “The deal had it’s fair share of challenges, but in the end, our staff of mentors and lenders were able to close the deal for David, which provides more proof that the market is nowhere near as bad as people perceive. We are looking forward to closing several more deals like this in our pipeline throughout 2011.”
The good, the bad and the ugly; prepare for a lot of each due to the newfound, newfangled popularity of television reality shows about the self-storage industry. “Storage Wars” and other imitators may be called reality programming, yet they are anything but realistic when it comes to actual industry operations. They attract attention to the industry, but sometimes more attention may not be more lucrative. Self-Storage unit and auction operators beware.
Self-storage professionals are keenly aware of the challenges in presenting a positive image of self-storage lien sales and the self-storage industry. However, good industry practices do not necessarily mean great entertainment, so the reality television shows ham it up creating, in the process, a distorted view of the self-storage industry. This can make for problems and challenges going forward for self-storage facility and auction operators. Misconceptions and crowd-related issues at auctions can get in the way of successful operations. Defaults and scams have increased, records show.
On the other hand, the popularity of shows like “Storage Wars” illustrates a national passion for reality-based television, bringing the industry into households that may not have been familiar with the industry. This can be a good thing. The fact is that television exposure to millions of Americans really increases the potential customer pool. A lot of operations report telephone lines buzzing with newbies. More people have been renting units and attending auctions. However, they have unrealistic expectations for what may be in units.
As interest has boomed in self-storage, criminals have taken note as well, of course. Scams have become much more prevalent, so take note, too. One of the new scams involves rubbish units. Self-storage auction tenants work with unscrupulous operators to inflate the price of a unit. The so-called tenant fills the unit with great looking boxes creating the impression of great value. The boxes are junk and the scammers divide a very nice profit. So, buyers beware.
Speaking of buyers, the popularity of the reality television shows are bringing flocks of unqualified buyers to self-storage auctions. They have unrealistic notions, which in the end may even annoy or inhibit actual customers. Parking and crowd control have become issues at some auctions. Members of the National Self Storage Association and certified self-storage managers must be able to sift through those brought into the field expecting entertainment from serious buyers. Literally hundreds of people are showing up now at auctions, drowning out legitimate, and long-standing customers.
Crime, in general, according to some self-storage and auction managers, has increased at units as criminals become more aware of the great value stored at these outstanding facilities. Break-ins are increasing due to the poor economy as well; all the more reason to be armed with the best advice and knowledge, members of the online self-storage industry say. Common sense and defensive measures are important: do not keep cash around; make sure the manager’s office is secure; and be extra careful installing security measures.
Check out Self-Storage Talk at http://www.selfstoragetalk.com/ for all types of discussion threads of interest in the quest for self-storage excellence.
There is always something new in the world of reality television, but the effects of “Storage Wars” and of other similar shows will continue. So, self-storage industry professionals need to be prepared for resulting legal challenges and lien-sale liability matters. That is the really real world and not the television version.
Much more information and help is available. If you need any additional information related to this topic or any other self-storage topic, you can check out www.selfstorageinvesting.com to learn more.
By Scott Meyers
Published 13th July 2011
The good, the bad and the ugly; prepare for a lot of each due to the newfound, newfangled popularity of television reality shows about the self-storage industry. “Storage Wars” and other imitators may be called reality programming, yet they are anything but realistic when it comes to actual industry operations. They attract attention to the industry, but sometimes more attention may not be more lucrative. Self-Storage unit and auction operators beware.
Self-storage professionals are keenly aware of the challenges in presenting a positive image of self-storage lien sales and the self-storage industry. However, good industry practices do not necessarily mean great entertainment, so the reality television shows ham it up creating, in the process, a distorted view of the self-storage industry. This can make for problems and challenges going forward for self-storage facility and auction operators. Misconceptions and crowd-related issues at auctions can get in the way of successful operations. Defaults and scams have increased, records show.
On the other hand, the popularity of shows like “Storage Wars” illustrates a national passion for reality-based television, bringing the industry into households that may not have been familiar with the industry. This can be a good thing. The fact is that television exposure to millions of Americans really increases the potential customer pool. A lot of operations report telephone lines buzzing with newbies. More people have been renting units and attending auctions. However, they have unrealistic expectations for what may be in units.
As interest has boomed in self-storage, criminals have taken note as well, of course. Scams have become much more prevalent, so take note, too. One of the new scams involves rubbish units. Self-storage auction tenants work with unscrupulous operators to inflate the price of a unit. The so-called tenant fills the unit with great looking boxes creating the impression of great value. The boxes are junk and the scammers divide a very nice profit. So, buyers beware.
Speaking of buyers, the popularity of the reality television shows are bringing flocks of unqualified buyers to self-storage auctions. They have unrealistic notions, which in the end may even annoy or inhibit actual customers. Parking and crowd control have become issues at some auctions. Members of the National Self Storage Association and certified self-storage managers must be able to sift through those brought into the field expecting entertainment from serious buyers. Literally hundreds of people are showing up now at auctions, drowning out legitimate, and long-standing customers.
Crime, in general, according to some self-storage and auction managers, has increased at units as criminals become more aware of the great value stored at these outstanding facilities. Break-ins are increasing due to the poor economy as well; all the more reason to be armed with the best advice and knowledge, members of the online self-storage industry say. Common sense and defensive measures are important: do not keep cash around; make sure the manager’s office is secure; and be extra careful installing security measures.
Check out Self-Storage Talk at http://www.selfstoragetalk.com/ for all types of discussion threads of interest in the quest for self-storage excellence.
There is always something new in the world of reality television, but the effects of “Storage Wars” and of other similar shows will continue. So, self-storage industry professionals need to be prepared for resulting legal challenges and lien-sale liability matters. That is the really real world and not the television version.
Much more information and help is available. If you need any additional information related to this topic or any other self-storage topic, you can check out www.selfstorageinvesting.com to learn more.
Ideally, everyone would have a place to call home; but unfortunately, this is not always the case. A recent AOL news story discussed a Houston family that was found residing in a storage facility with their six children. Amazingly, the family had equipped the unit with air conditioning, electricity and several other amenities. There was even a working garden established by the family behind the facility.
Attending school was not a problem for the children, who took online courses and received good grades. Child protective services caught wind of their activity and removed the children from their parent’s custody. As sad as their situation is, this is bad for our business as a whole. The recession has caused many previously stable individuals and families to lose their homes, and some of these economic victims attempt to make our self-storage facilities their temporary home.
What do instances such as this mean for the future of our industry? How do we prevent this type of activity from occurring at our storage enterprises? Clearly, as professional business owners we must take action to protect our client’s possessions as well as our reputations.
One of the most effective methods to avoid instances such as this one from happening to you is to be firm in your rental policies. It is standard to require contact information from storage space renters, and occasionally we may turn a blind eye when they cannot provide one. After all, several of these citizens are in the process of moving and may not have information to provide. Use your gut instinct about the potential customer when they come in to rent, and if they do not have the required information, it is your right to refuse to contract with them.
Signing Off,
By Scott Meyers
Published 12th July 2011
Ideally, everyone would have a place to call home; but unfortunately, this is not always the case. A recent AOL news story discussed a Houston family that was found residing in a storage facility with their six children. Amazingly, the family had equipped the unit with air conditioning, electricity and several other amenities. There was even a working garden established by the family behind the facility.
Attending school was not a problem for the children, who took online courses and received good grades. Child protective services caught wind of their activity and removed the children from their parent’s custody. As sad as their situation is, this is bad for our business as a whole. The recession has caused many previously stable individuals and families to lose their homes, and some of these economic victims attempt to make our self-storage facilities their temporary home.
What do instances such as this mean for the future of our industry? How do we prevent this type of activity from occurring at our storage enterprises? Clearly, as professional business owners we must take action to protect our client’s possessions as well as our reputations.
One of the most effective methods to avoid instances such as this one from happening to you is to be firm in your rental policies. It is standard to require contact information from storage space renters, and occasionally we may turn a blind eye when they cannot provide one. After all, several of these citizens are in the process of moving and may not have information to provide. Use your gut instinct about the potential customer when they come in to rent, and if they do not have the required information, it is your right to refuse to contract with them.
Signing Off,
Hi, everyone! Scott here, with some info on the development and recovery of our industry in the nation’s north-central states. Some of the big guns from Chicago, Minneapolis, Kansas, Wisconsin and Michigan are weighing in and the information may be useful to those who are considering buying or selling properties right now. The full article can be found at: http://www.insideselfstorage.com/articles/2011/06/the-state-of-self-storage-real-estate-in-the-north-central-states-recovery-and-development.aspx.
So far, it looks like 2011 is an opportune time for buyers and sellers alike in the self-storage industry. Interest rates are still phenomenally low, which gives motivation for buyers to act now before they rise and also gives sellers a better chance of obtaining a higher price for their properties. With many operators reporting a near 90% occupancy rate, even during the economic downturn affecting almost every other industry, investors are looking favorably on the self-storage sector.
Well-maintained, properly managed and well-located facilities are definitely seeing buying interest in the north-central region. Whether this is the best time to sell, however, still comes down to the individual goals of each operator. If your facility is operating profitably, with a high occupancy rate, this could be the perfect time to sell if you are so inclined. Plenty of investors are looking for ways to secure even a 10% ROI.
As far as building new facilities, this may not be the best time. Banks are still skittish about lending and there was a problem with overbuilding in the past, where supply was ahead of demand. Rather than building new, the trend seems to be in the acquisition or expansion of existing facilities. These are both viable alternatives for those wanting to grow their current base.
Hope this information is useful. Feel free to comment on this or any other topic!
By Scott Meyers
Published 4th July 2011
Hi, everyone! Scott here, with some info on the development and recovery of our industry in the nation’s north-central states. Some of the big guns from Chicago, Minneapolis, Kansas, Wisconsin and Michigan are weighing in and the information may be useful to those who are considering buying or selling properties right now. The full article can be found at: http://www.insideselfstorage.com/articles/2011/06/the-state-of-self-storage-real-estate-in-the-north-central-states-recovery-and-development.aspx.
So far, it looks like 2011 is an opportune time for buyers and sellers alike in the self-storage industry. Interest rates are still phenomenally low, which gives motivation for buyers to act now before they rise and also gives sellers a better chance of obtaining a higher price for their properties. With many operators reporting a near 90% occupancy rate, even during the economic downturn affecting almost every other industry, investors are looking favorably on the self-storage sector.
Well-maintained, properly managed and well-located facilities are definitely seeing buying interest in the north-central region. Whether this is the best time to sell, however, still comes down to the individual goals of each operator. If your facility is operating profitably, with a high occupancy rate, this could be the perfect time to sell if you are so inclined. Plenty of investors are looking for ways to secure even a 10% ROI.
As far as building new facilities, this may not be the best time. Banks are still skittish about lending and there was a problem with overbuilding in the past, where supply was ahead of demand. Rather than building new, the trend seems to be in the acquisition or expansion of existing facilities. These are both viable alternatives for those wanting to grow their current base.
Hope this information is useful. Feel free to comment on this or any other topic!
A self-storage company in Pensacola, Fla., is missing $65,000. Sheriff’s deputies arrested the company’s former business manager, Tracie Barrett, on charges of embezzling the money during the period from January 2009 through December 2010.
Wetzel Bias, owner of University Self Storage, discovered the money had disappeared when he performed an audit of the business. He uncovered what had to have been very obvious discrepancies between bank statements and internal financial reports. Mr. Bias notified the Sheriff’s Office about the possible fraud, which led to the arrest of Ms. Barrett.
Check out the Pensacola News Journal – at www.pnj.com (specifically at: http://www.pnj.com/article/20110621/NEWS01/110621007/Woman-held-on-charge-of-stealing-65-000?odyssey=tab|mostpopular|text|FRONTPAGE) – to learn more about this incident.
One puzzling factor of this case is why did it take almost two years to find the books didn’t balance? Mr. Bias obviously had complete faith in Ms. Barrett’s business running abilities. He might have been wiser to conduct more frequent audits, and generally pay more attention to the situation at University Self Storage. That might have forced Ms. Barrett to realize the futility of trying to make off with company funds, or at least keep the money she allegedly stole to a bare minimum before being discovered.
This case does make the point that successful self-storage facilities can and do make money. Trust your employees to operate in the best interests of your company, but never take for granted that their loyalty is a 24/7 issue. As President Reagan put it, “Trust, but verify.” Running a self-storage business isn’t on the same level as dealing with the then USSR, but it does involve keeping tabs on what’s at stake. We’re all fallible, to some extent.
Keep temptation under control, and your hard-earned cash is less likely to stray.
Warmly,
Scott
By Scott Meyers
Published 1st July 2011
A self-storage company in Pensacola, Fla., is missing $65,000. Sheriff’s deputies arrested the company’s former business manager, Tracie Barrett, on charges of embezzling the money during the period from January 2009 through December 2010.
Wetzel Bias, owner of University Self Storage, discovered the money had disappeared when he performed an audit of the business. He uncovered what had to have been very obvious discrepancies between bank statements and internal financial reports. Mr. Bias notified the Sheriff’s Office about the possible fraud, which led to the arrest of Ms. Barrett.
Check out the Pensacola News Journal – at www.pnj.com (specifically at: http://www.pnj.com/article/20110621/NEWS01/110621007/Woman-held-on-charge-of-stealing-65-000?odyssey=tab|mostpopular|text|FRONTPAGE) – to learn more about this incident.
One puzzling factor of this case is why did it take almost two years to find the books didn’t balance? Mr. Bias obviously had complete faith in Ms. Barrett’s business running abilities. He might have been wiser to conduct more frequent audits, and generally pay more attention to the situation at University Self Storage. That might have forced Ms. Barrett to realize the futility of trying to make off with company funds, or at least keep the money she allegedly stole to a bare minimum before being discovered.
This case does make the point that successful self-storage facilities can and do make money. Trust your employees to operate in the best interests of your company, but never take for granted that their loyalty is a 24/7 issue. As President Reagan put it, “Trust, but verify.” Running a self-storage business isn’t on the same level as dealing with the then USSR, but it does involve keeping tabs on what’s at stake. We’re all fallible, to some extent.
Keep temptation under control, and your hard-earned cash is less likely to stray.
Warmly,
Scott
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