When customers search for storage on our site, we use a few factors to rank and order the facilities we display in the default search results on our site. Customers have the option to change from these "recommended" options to sort order results instead based on price, reviews or distance.
The number of reservations SpareFoot can generate for your facility strongly depends on your rank in our search results. For example, a facility that ranks first will typically get more than four times as many reservations than a facility ranked seventh.
What goes into ranking your listing on the SpareFoot AdNetwork?
Your ranking in SpareFoot’s current search results is powered by a unique algorithm that considers four important factors: Your facility’s move-in rate, reservation rate, availability and location. Additionally, rank can also be influenced by a fifth factor, the bidding feature on SpareFoot’s OneTime pricing model, which we’ll discuss more below.
NOTE: These five factors (described below) are listed in no order of weight or importance.
Facility Move-In Rate:
Your facility move-in rate is the percentage of SpareFoot customers who reserve a unit at your facility and move in as tenants. There are several ways you can improve your move-in rate. You can find more information in our article: How Do I Improve My Move-In Rate.
On the first of each month, we generate a statement report of all SpareFoot reservations that we have sent to each facility. Administrators on each account log in to MySpareFoot.com and reconcile their move-ins by letting us know which customers moved in and which did not. This is how we ensure we only charge our clients for reservations that become tenants. It is also how we calculate your move-in rate.
Facilities that integrate their management software with SpareFoot set themselves up for success by always having up-to-date inventory and automating the reconciliation process. In fact, integrated facilities tend to have a move-in rate about 20% higher than manual facilities. If you would like to learn more about integrating with SpareFoot, just let us know by emailing support@sparefoot.com.
Reservation Rate:
This is the percent of storage seekers who click on your SpareFoot AdNetwork listing and reserve a unit. Attractive photos and clear, concise promotions help here. You can find all the details about how to influence your Reservation Rate in our article: How Do I Improve My Reservation Rate?
Availability:
Facilities with more unit size options listed on SpareFoot rank higher. Customers love choices, so we want to direct them to facilities with lots of options.
We also include facility availability and account growth in our ranking algorithm. SpareFoot accounts that add new facilities or reactivating facilities to the network receive a small boost in ranking because they add more storage options for storage shoppers. Accounts that maintain their current facility count should not see much impact on ranking from this aspect of the availability factor.
Location:
Where are you located? We show storage seekers facilities near them. This is the one ranking factor you can’t take any action on.
Bidding with SpareFoot’s OneTime Pricing Model:
A facility that demonstrates strong quality factors (reservation rate and move-in rate) may not need to bid in order to rank highly in our default search results. However, the amount a facility is willing to pay for tenants is a factor — the higher the bid modifier, factors into your facility's rank in search results and can help make up for temporarily low reservation and move-in rates.
Your bid also amount determines the price you pay for each SpareFoot customer who moves in. To adjust your bid, use the bidding tools found in MySpareFoot.
When it comes to ranking well on the SpareFoot network, it’s also important to remember that ultimately, we’re a comparison-shopping marketplace. Be sure to Optimize Your Listing and show consumers what makes your facility their best choice!
NOTE: When your facility’s distance or quality factors are lower or less relevant than local competition, it will generally be more expensive to bid for a higher rank.
Algorithm Testing
To keep up with changing consumer demand, we frequently run test variations of our algorithm to determine which produces the best results and ultimately sends you more and better-qualified reservations. These tests are run as A/B tests, a standard practice for online companies to evaluate changes and improvements to their interfaces and user experiences. If a test algorithm performs better (meaning it results in more customers reserving units and then moving in), it will likely become the new default.
Want more? Be sure to check out this guide to A/B testing and how it works.