Consumers are often willing to pay more for a product or service if they believe it has great value or creates convenience. Think about business-class airplane seats, organic food and home-delivery services. But can a premium pricing model also work in the self-storage industry? It isn’t uncommon to charge more for climate-controlled vs. drive-up storage units, but what about creating levels of pricing based on criteria such as first vs. second floor, proximity to an elevator or security camera, add-on technology features, or after-hours access?
In this thread on Self-Storage Talk, the industry’s largest online community, members are discussing whether tiered-value pricing works in our industry as well as when and how. Have you dabbled in this revenue-management strategy? Read others’ ideas and experience add your own.