Information-technology company 365 Media Inc. has implemented an upgrade to StorTrack, a subscription-based, pricing-management service that allows self-storage operators to view up-to-date, local market-price conditions, analytics and trends. StorTrack 2.0 offers competitive and market-intelligence features including a graphing tool for market-pricing history that enables users to compare their pricing at the unit level against market indicators and specific competitors. The upgrade is designed to unveil price trends, uncover competitive activity over time, and provide tools to help operators judge market position, company officials said in a press release.
The upgrade also includes price-volatility scoring on competitors, which provides operators with insight to how active their competitors are with their pricing, according to the release. The volatility score shows the rate of change of pricing by a given competitor.
"StorTrack is now used by thousands of self-storage facilities to inform and support pricing and market strategy. Its popularity is a reflection of how the self-storage industry is now treating pricing as a key lever in driving profitability and success," said Angela Kilkenny, commercial director for the cloud-based dashboard solution.
Launched as a subscription service last year, StorTrack has been tracking self-storage pricing data for more than two years. It currently tracks 325,000 price points per day for 27,500 storage facilities across North America. 365 Media is an international information solutions business with offices in Asia, Europe and the United States.