Self-Storage: A Complex Market?
Divide and Conquer
- Learn the instance of the need. What happened in the tenant's life to create his need for your product? Maybe he bought a new home or had a job transfer. This will form the basis for your initial appeal. It relates to the prospect's life and his unique circumstances.
- Determine the segment or general market area. You will need to generate a set of classifications for the different uses of your product. If you're breaking down a commercial segment, you're in good shape because of the availability of Standard Industrial Codes. But if you're creating categories of personal use, frankly, you're on your own. You'll need to create categories that help you aggregate similar tenant activities.
- Find out which particular self-storage application was used. Any one segment could generate several applications. It is the specific application that sells within a segment.
Self-Storage Marketers Lament
Is This Trip Really Necessary?
Missed some previous issues? Check the web at www.hardnosed.com.
Harley Rolfe is a semi-retired marketing specialist whose career includes executive-level marketing positions with General Electric and AT&T. He also owned lodging and office facilities for more than 20 years. Mr. Rolfe holds a bachelor's degree in economics from Wabash College and a master's degree in business administration from the University of Indiana. He can be reached at his home in Nampa, Idaho, at 208.463.9039. Further information can also be found in Mr. Harley's book, Hard-Nosed Marketing for Self-Storage.