The self-storage industry has been slowly growing due to the increasing use of technology. The goals of the self-storage industry are to market better, decrease the number of thefts and the number of empty spaces. Big data helps to solve all of these issues.
What is big data?
Big data involves collecting and analyzing structured and unstructured data that the business faces daily. The amount of data collected and analyzed is huge- which is why it is called big data!
Companies use this data to figure out the buying patterns of their customers, manage marketing strategies, and understand daily sales to make profits.
Self-storage businesses make data-driven decisions using this data. It helps them understand their tenants better and improve their daily operations.
What are the various ways data can be collected?
- Websites: The storage facility’s website is the biggest source of customer data. The website can help you track the number of visitors per day, the number of times they visit, and their location. It also tells you about the time the visitor visited and the web pages they browsed through before visiting your website. It helps you figure out their needs and also tells you if they made any reservations or purchases.
- Paid advertising: Through paid advertising, you can find out the terms that your visitors used to find your business. It gives you information about what content you should use to advertise your business which will help you attract more customers.
- Phone calls: A great source of data is call center conversations. It allows you to connect to your customer through the details they provided on your website via call. Their actions before and after the call help deepen your understanding of your customers.
- Customer surveys: Feedback is very important for the growth of the business. If you know where your problems and strengths lie, you will be able to make good strategies. It is therefore very important to create a good and workable feedback system.
- Storage inventory data: A self-storage business has to always stay on top of the inventory data. Inventory data involves things like unit size, prices, and occupancy rates. These things help you determine the prices you will set.
Impacts of Big Data on the Self-Storage Industry
1. Big Data Based Decisions:
There is a huge amount of data available to the business. The unit operators can make decisions based on them. Storage facilities can keep an eye on data related to all daily operations, rentals, income, and sign-ups and can get rid of excess inventory by renting cheap self storage units from selfstorageunits.io.
As a result, you will be able to track the profits your business is making. Big data allows the unit owners to offer lower prices during the slower months.
It also allows them to increase the rates of the available spaces as they begin to fill up. Big data helps you make informed decisions as well as create good strategies. It helps you set the right prices for the available spaces.
2. AI Customer Service:
As time goes on, convenience and time become important. Due to this, customers prefer to get replies as fast as possible. The customers usually interact with the business website first.
As a result, the website is the first to collect data about the customer. It collects a huge amount of data that will help the company. This is why it is very important to make sure there is good interaction with the customer.
Industry-specific interactive AI platforms help the customers not only get fast responses to their queries but also help smoothen customer self-service. It helps give the customer inventory recommendations. It also allows touch-free gate entry access.
3. Automated Kiosks Available:
Recent technology has made it easier for customers to access their units on the premise. Instead of always having staff on the floor to help the customer access, the whole process can be done by an automated kiosk.
These kiosks can carry the same conversation that the customer would have with a manager while answering 60% of the most asked questions. The kiosk also helps the customer in many other ways.
These include the moving-in process and selection of suitable space. They can also help with billing, and granting access to space. This then helps in behavioral learning and reduced costs.
4. Omni-Channel Communication:
It is a need for the business to be part of every channel that the customer is most likely to interact. This will help you understand who your customers could be. You should invest in tools and systems that allow you to be more active with the customers.
With the help of AI bots on your website, you can collect data about potential customers. Collect their email id, phone number, and area. You can then refer to your data and send out an automated text message to these customers.
The message should be informative. The information can be about what your business is planning on doing, offers and discounts, and available spaces in the facility. Doing so will help you climb the competition ladder.
5. Determining Prices Based on Customers:
With the help of big data, operators can decide their pricing. These prices can be fixed based on both inventory data and customer location, needs, and behavior. They can use the data collected on their websites to decide what kind of services their customers are looking for along with the location and pricing.
Based on this, the operators can choose to either set lower prices on slow months. They can also set higher or special prices in order to get more customers to fill up the available spaces in the facility.
Big data is changing the self-storage industry in many ways. Although, this is only the beginning! Big data is used in order to keep you at the top of the competition ladder.
The insights that this data gives you will be of great help in understanding your customers and increasing profits. In the end, the customers value the experience they have with a business. Therefore, it is very important to make sure they enjoy their experience with you while making sure you collect all apt data.