Your move-in rate, the rate at which you convert SpareFoot reservations into rentals, is an important part of how your facility is ranked in SpareFoot search results. Converting leads into tenants is key for your success. As a benchmark, across the SpareFoot network we see an average move-in rate of 45%.
There are a lot of factors which contribute to whether or not a customer will move in. We know some of these factors, such as a change of plans, are beyond anyone’s control but there are many ways you can influence and improve your move-in rate.
Follow up with customers by phone as soon as possible after the reservation is received. Since we know it’s not always easy to get a hold of a prospective tenant, it’s important to know that you’ll be 100 times more likely to get a hold of them if you call within 5 minutes of the reservation being made versus waiting 30 minutes to call. On top of that, following up within the first 10 minutes increases the likelihood of the customer moving in by 25%. These calls shouldn’t be sales-oriented but should be an opportunity to answer any questions the customer may have and make the customer feel confident with their choice.
- We notify you of new reservations by email as soon as the reservation is placed. We also place an automated Tenant Connect call to your facility during office hours. When you receive the call, just select “1” from the menu to dial the customer’s number and make following up super easy!
- We created a follow up call checklist with some helpful pointers about what to cover on these calls.
Follow up by email if you’re unable to reach the customer by phone. Online shoppers may be more responsive to an email and storage customers are often in the middle of a life change which could make it difficult to reach them by phone.
- If you’re not sure what to say in a follow up email, we’ve created a template to get your started!
Meet customer expectations. Make sure the information on your listing such as unit availability, hours, and amenities is complete and accurate. From customer surveys, we know inaccurate listing details and unit availability is a top reason for not moving in, so it’s important your SpareFoot listing reflects your current offering.
- Integration makes keeping your listing up-to-date easy. Clients who have integrated their management software with SpareFoot have a 5% higher move-in rate than those that are not integrated. If you use SiteLink, Centershift, Domico, QuickStor, or Self Storage Manager and would like to integrate with SpareFoot, just let us know by emailing email@example.com.
Honor the price and promotion that was listed when the customer made the reservation. We know your rent rates and promotions change frequently, but SpareFoot customers are told that the price and promotion that they are offered at the time the reservation was placed will be locked in until their selected move-in date.
Offer promotions which lead to higher move-in rates.
Here are some of the most effective promotions used on SpareFoot:
- The sixth full month free with six month lease agreement
- 20% off for the first three full months
- 50% off 1st month
- The second full month free with one month pre-payment
- 1st Month Free
If you have an integrated listing, keep these tips in mind when creating promotions:
- Listings with promos that contain the word “SpareFoot” have a 15% higher move-in rate.
- Promotions are over 20% more effective when the entire promotion is not capitalized.
- Spelling and grammar are important. Promotions that use proper spelling, grammar and punctuation result in a higher move-in rate than those that don’t.
Provide outstanding customer service - Many storage seekers are going through a stressful life change such as a death or divorce or are in the process of moving. Show customers why renting at your facility is the best choice by being friendly and compassionate and easing any concerns they may have.
Make your facility location clear - If your facility is difficult to find or hidden from the main road, add directions or additional information in the facility details to help point customers in the right direction. Adding photos such as a view from the street can also be helpful as a visual queue.
Be sure to reconcile accurately - Your move-in rate is dependent on what you report during reconciliation. Customers may move in under a different name than they reserved with which means that you will need to be careful when reconciling to check for these situations. Integrating your management software with SpareFoot makes this process much easier!
Want to learn more? We’ve hosted some helpful webinars which cover topics related to move-in rate as well. Click the links below to register for and view the webinar recordings.