How to Price Self-Storage Units Based on Features
Date: February 23, 2023 Length: 00:57:39
Topics and Questions Discussed
00:00:42 Housekeeping & Introductions
00:01:28 What is StorTrack?
00:02:47 Ahmet Kuyumcu, Prorize
00:04:00 Bret Schobel, Storage Asset Management
00:04:54 Jody Burks, StorTrack
00:06:58 Raheem Amer, Mini Mall Storage
00:08:00 Good, Better, Best Pricing
00:10:32 Inflation-sensitive pricing options
00:11:35 Value-based segmentation
00:20:05 Value pricing increases
00:21:51 The automated process of and training for value-based pricing
00:24:10 How much should the price difference be between a new unit and an older unit?
00:25:56 Learning more about your competitors to help with pricing
00:32:53 Dynamic pricing and automation
00:35:23 Anchor by starting with the highest value unit
00:39:00 Self-storage website builders with value based pricing
00:40:24 What does Prorize do?
00:41:15 Value pricing and rent increases
00:42:08 How to benchmark tiered rates shown to competitors?
00:44:12 What is the percentage of units that should be Good/Better/Best?
00:48:39 Self storage technology and value-based pricing
00:50:45 3-D mapping websites for self-storage
00:54:13 Closing Comments and Upcoming Events
How to Price Self-Storage Units, Based on Features - Panelists