Imagine that you’re standing in front of your storage facility, wondering how to fill those empty units. Should you lower prices? Run a promotion? Increase your advertising budget? Without data, you’re just shooting in the dark, but with marketing analytics, you’ve got data driving your every move.

Self storage is a competitive industry, and seasonal demand as well as local competition can make or break your business. Without a crystal ball, the best way to understand your customers is with help from FineView Marketing, a StorSuite partner. The experts at FineView Marketing don’t need a clairvoyant. They use data to show you what your customers want, when they want it, and how to reach them most effectively.

The Metrics That Matter: Your Self Storage Marketing Scorecard

Let’s break down the key metrics that’ll help you measure and improve your marketing efforts.

Conversion Rate

Your conversion rate is the percentage of visitors who take a desired action like booking a unit or requesting a quote.

The action can include anything from a call-to-action (CTA) button click to making a purchase and becoming a new customer. Websites can have multiple conversion goals, each having its own conversion rate.

A low conversion rate might mean that your website isn’t user-friendly or that your content isn’t compelling.

Click-Through Rate (CTR)

This shows how many people are clicking on your ads or links. A CTR can be used to determine how well your keywords ads and free listings are performing.

A high CTR means your message is resonating with your audience. It’s a good indication that users find your ads and listings helpful and relevant.

A low CTR means it’s time to rethink your messaging or targeting.

Bounce Rate

If a prospect lands on your homepage and leaves immediately, this is considered a “bounce.” Bounce rate shows the percentage of people who left your website immediately after looking at only one page.

A high bounce rate indicates a disconnect between visitor interest and the content on your website and could indicate that your landing pages aren’t meeting visitor expectations.

In some cases, a high bounce rate can be positive. For example, if a blog post effectively answers a visitor’s question, they might not need to visit additional pages. In this case, the high bounce rate indicates that the page achieved its goal.

Engagement Metrics

Engagement metrics include time on site, pages per session, and social media interactions. They tell you how interested people are in your content and brand. Customer engagement is an important factor in helping marketing professionals determine the type of content that provides value to particular customers.

Engagement metrics help inform the adjustment of marketing efforts or content based on your specific goals. This data will help improve the customer experience and save you money by eliminating unsuccessful strategies.

Customer Acquisition Cost (CAC)

CAC is the amount of money spent to attract new and profitable customers. This includes all sales and marketing expenses, such as program costs, salaries, commissions, bonuses, and overheads.

Most successful companies attempt to reduce CAC by gaining a deeper understanding of their customers and optimizing marketing channels.

Return on Ad Spend (ROAS)

At the most basic levels, ROAS measures the effectiveness of your advertising. When your messaging connects effectively with your prospects, you’ll earn a higher revenue from each dollar spent.

For all intents and purposes, ROAS is practically the same as another metric you’re probably familiar with: return on investment (ROI). In this case, the money you’re spending on digital advertising is the investment on which you’re tracking returns.

A high ROAS means your ads are working hard for you.

Conclusion

In the world of self storage marketing, gut feelings and guesswork just don’t cut it anymore. By embracing marketing analytics, you’re giving yourself a massive advantage. You’ll be able to make smarter decisions, allocate your resources more effectively, and continuously improve your marketing performance.