In today’s tough and uncertain economy, you must do everything possible to maximize your budget and ensure every dollar spent is contributing to the bottom line. This is especially true with your marketing dollars. Whether you are a small operator with a marketing budget of just a few thousand dollars a year or a large one that spends millions every year, the same principals apply. In order to maximize your marketing dollars you must have effective strategies to make use of every marketing dollar spent.
This is no small feat. So how do you go about marketing on a tight budget and making sure every dollar counts? Two strategies are your keys to success: accurate marketing tracking and proven conversion techniques.
By using both you can maximize your budget, especially if it’s limited, or tighten your budget even more without sacrificing new tenants.
Tracking marketing is one of the biggest challenges. Luckily, new technology makes it a lot easier. If you ask most owners or managers how they track their marketing, most will say they ask the customer how they found the facility. While this may provide somewhat accurate tracking, it leaves a lot of room for errors.
First, customers don’t always remember. When searching for storage, their mind is on their own needs and, many times, they are in a hurry. They don’t necessarily remember every step they took to find your facility. So when asked how they found you, they may simply say the first thing that comes to mind or even make up something.
Also, in today’s Internet world, customers will often default their answer to “Google,” when really they found you somewhere else on the Web. They may initially say they found your ad in the Yellow Pages, but when asked for more specific information, they might remember they really heard about the facility through a friend, then looked up the number in the Yellow Pages.
Another problem is managers do not always ask. While it’s ideal to think every call that comes through your facility or every person that walks through the front door is asked in depth how he found your facility, most likely this is not the case. This is to be expected because managers have a lot on their plates, and asking for a marketing source is not always at the top of their priority list.
So how do you go beyond just asking customer to really hone in on where they hear about your self-storage facility? By using a new technology called unique call-tracking phone numbers.
Call-tracking numbers allow you to:
- Track the source of each and every call
- Track the average length of your calls
- See how many and at what time of the day calls are missed
- Determine your cost per phone call and cost per rental
- Determine call-conversion ratio
- Capture and listen to recordings of calls for live mystery shopping, training and quality improvement purposes (even if you use a call center)
- Capture caller information such as name, callback number and ZIP code for advanced marketing