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SURVIVAL GUIDE


Also, when there’s a lot of demand, the priority becomes meeting those needs fast, not making operations smoother. But forgetting about efficiency during good times can cause problems later, making it hard to adapt. Reviewing your processes and systems during this climate is so crucial. This will ensure you are getting the most bang for your buck when it comes to all the technology you’ve invested in to streamline your operations. Consider these timesaving and revenue-boosting strate- gies to fine tune your business and reduce the administra- tive load of your self-storage operation: • Power Up Management Workflows: The potential of facility management software transcends mere auto- mation; it revolutionizes the way tasks are executed. Reevaluate and optimize workflows to capitalize on software functionalities, streamlining repetitive tasks and ensuring maximum efficiency across operations.


• Collections Revolution: Implementing auto- mated collection systems transcends the con- ventional manual chasing of payments. This not only saves precious time but also significantly mitigates delinquency rates, fortifying ten- ant retention and stabilizing revenue streams.


• Maximize Online Rentals: The current consumer landscape leans heavily towards digital transactions. That is why capitalizing on this shift by offering online move-in options via your website serves as a pivotal strategy. By facilitating hassle-free digital transactions, you not only meet consumer prefer- ences but also expedite the rental process, poten- tially sealing deals faster and more efficiently.


• Seamless Access Control Integration: A frictionless experience for tenants begins with an integrated access control system synced seamlessly with your facility management software. Such integration not only ensures a hassle-free experience for ten- ants but also enables contactless move-ins. By optimizing these operational aspects, self-storage businesses can navigate the current challenging market conditions and also position themselves for sustainable growth.


Next-Level Survival Strategies With a laser focus on increasing efficiency and maximizing revenue per tenant, your self-storage operations will be well-equipped to weather the ups and downs of the market. But if you are looking to gain a competitive edge while protecting your business from outside threats, get ready to fire up your marketing engines and build up your cyberdefenses.


Tune Up Your Marketing Engines


Diversifying marketing strategies is crucial for reaching as many potential storage users in your area as you can. Being easily discoverable when people search for storage options in your area can significantly impact the number


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of potential customers. One aspect is ensuring visibility in Google search and map results. Additionally, appearing on various marketplace sites, such as the Storable Marketplace or other platforms where people search for storage solutions, expands the chances of attracting interested individuals who might not have discovered the facility otherwise.


Being present across these platforms improves the chances of capturing the attention of those actively seeking storage solutions, thus increasing the facility’s overall visibility and potential customer base. To ensure you are maximizing the efficiency of your marketing efforts, review these key elements: • Website Optimization: Conduct a thorough website audit, focusing on speed and functionality to enhance online rentals.


• SEO and PPC: Leverage SEO and PPC strategies to bol- ster online visibility and analyze insights from tools like Google Analytics and Search Console.


• Update online directory listings: Expand visibility by activating facility listings on platforms like the Storable Marketplace. Make sure all information on your various listings are accurate and up-to-date.


• Cultivating business customers: Tailor stor- age solutions for businesses and forge part- nerships to augment the facility’s reach.


Fortify Your Cyberdefenses


As digital engagement becomes more prevalent, cybersecurity vigilance is a paramount concern for your business. A success- ful cyberattack against your operation could lead to financial losses and reputational harm. Use this time to ensure you are protected from such an incident. • Staff training: Equip employees with comprehen- sive cybersecurity training to fortify defenses.


• Two-factor authentication: Implement two-fac- tor authentication to bolster system security.


• Incident response plan: Regularly review and update the incident response plan to ensure pre- paredness against potential cyber threats.


Prepped And Ready


Diligently addressing these crucial areas across all areas of your self-storage business will ensure you navigate the challenges of a subdued market and seize opportunities for growth. For additional support, connect with an expert to align strategies for success in 2024.


Alexander “Al” Harris is the editor of the “Storage Beat” and content manager at Storable. Based in Austin, Texas, Storable is a provider of self-storage technology, deliver- ing a full suite of products including management soft- ware, websites, access control, insurance, payment pro- cessing, and an marketplace for renting self-storage units.


Spring 2024


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