Online comparison shoppers tend to be savvy bargain hunters who want to get the best deal. Special offers are a great way to get these discerning customers excited about choosing your facility. When creating specials, it is important to keep in mind that they should be clear and complete so that customers know what to expect. After all, one of the most common reasons customers don’t end up moving in is not understanding how much they’re expected to pay on their move-in day.
Here’s how SpareFoot defines different types of special offers:
Discounts: A discount is a dollar amount or percentage off a unit's monthly rent that is honored on an ongoing basis. SpareFoot requires that all discounts be honored until a regularly scheduled rent increase (typically six months or longer).
- For example: you might offer customers 10% off the regular rental rate for the length of their tenancy.
For manual accounts, special rates that are going to be offered on a short-term basis or have conditions (such as minimum length of stay or pre-payment) must be entered as promotions in MySpareFoot.
Promotions: Unlike discounts, promos are temporary special offers that end after a certain length of time. You can offer a dollar amount or percentage off as a promo, but you’ll want to be sure to specify time limitations.
- For example: “first month free” or “50% off the first two months”
Here are some best practices to consider when creating special offers on your SpareFoot listing:
- If a promotion is only going to be offered for a certain number of months, that information should be included in the promo. Without information about how long the promotion will be offered for, a customer may assume that the discount will continue indefinitely. You will also want to ensure that the promotional prices is not reflected as a discounted rate.
- For example: 50% off for the first 2 months.
- Don’t use a discount and promotion at the same time to indicate the same thing. Customers will likely assume that the discount will apply twice.
- For example: if you are offering 20% off for the first four months, enter that information as either a promotion only. If you use the discount tool to apply the 20% off along with a promotion that states "20% off with three months pre-payment", a customer might assume that they get an additional 20% off the already discounted price when they pre-pay.
- The use of both a discount and a promotion at the same time can often cause customer confusion. We recommend using a discount and a promotion in tandem only when it is clear what the final price will be.
- For example: A unit that is priced at $50 has a 20% discounted rate plus a promotion that states "Only $1 for the first full month". In this example, the customer can infer that the price of the unit will be $1 for the first full month, and $40 for a least six months.
If your account is manual/non-integrated, learn more about how to add discounts and promotions to your SpareFoot listing here.
Integrated accounts with promotion syncing
If your account is integrated, SpareFoot is able to sync promotions from your management software in most cases. Here are a few tips to create effective promotions in your software and increase the likelihood that a customer will move in:
- Don't Shout. We’ve found that move-in rate is at least 20% better for reservations made when the entire promotion associated is not capitalized.
- Grammar is important. Promotions that use correct spelling and punctuation lead to a higher move-in rate than those which do not.
- Don’t use vague language such as “Additional terms apply”, “Move-in special” or “on select units” with no additional details. Customers won’t know what to expect and may be hesitant to place a reservation or less likely to move in if they get to the facility and are surprised.
- Avoid using month or season specific promotions i.e. “10% off October special” unless it’s going to be updated regularly since it will quickly become outdated.