Pricing for Profit: Analytics, Strategies & Tactics
Presented on March 08, 2017 by Dr. Warren Lieberman from Veritec Solutions
Learn new ways to think about pricing, leverage your data and identify specific opportunities to revise your pricing policies and tactics.
Traditional pricing approaches, such as “everyday low pricing,” may be easy to implement, but typically result in less revenue, and far less profit, than data-driven strategies. Furthermore, many self-storage operators underestimate the willingness of potential customers to pay higher rents for more desirable storage unit locations – in short, square footage is only one element of what customers are willing to pay for.
This presentation highlights how self-storage operators can leverage their data and information to set more profitable move-in rates and adopt more profitable rent increase strategies. We also review the financial impacts of alternative pricing strategies to demonstrate the potential value of taking greater ownership over pricing and using pricing analytics.
Data-Driven Pricing and Rent Increases drive more revenue to the bottom line
Greater Customer Satisfaction
Better meet the needs of your service-sensitive and price-sensitive customers while increasing revenue
Efficient and Transparent Communication
More informed internal and customer-facing discussions
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