Published: August 19, 2012
Length: 129 pages, 50+ charts
Author: Jon Samsel, editor & co-founder
Format: PDF instant download (no hard copy)
Brands Featured in this Report
CubeSmart, Devons Self Storage, Extra Space Storage, Mini U Storage, Public Storage, Storage Masters, Storage West, StorQuest, Uncle Bobs and US Storage Centers.
This report benchmarks the online performance of the top 10 self storage brands in the United States. Extra Space Storage earned the top spot in a field of strong competitors.
According to the research, Extra Space Storage's brand health score of 612 out of 1,000 possible points beat its nearest competitor, CubeSmart, by 4 points, or .65%, and surpassed third place Public Storage by 42 points, or 6.69%. The gap between Extra Space Storage and lowest-ranked Storage West was 323 points, or 52.78%.
So how did Extra Space Storage rise to the position of category leader?
Three areas of competence caught our attention:
1) social media participation
2) search engine optimization
3) mobile website optimization
Over the past three months, 3 of the top 4 self storage brands garnered, on average, 27 new likes per month on their Facebook pages:
CubeSmart = 24 new likes per month
Public Storage = 26 new likes per month
Uncle Bob's = 30 new likes per month
While that number may seem adequate by normal business standards, consider this. Industry-leading Extra Space Storage averaged 1,164 new Facebook likes per month, a staggering 4,211% higher monthly growth rate than it's top competitors.
How is Extra Space blowing past its competitors -- and what strategy is driving this serge?
In the company's Q2 2012 earnings report, Karl Haas, Chief Operating Officer for Extra Space, said, "We continue to gain market share from our smaller competitors by leveraging our size, resources and sophisticated systems, and we are driving traffic to our websites and properties."
"American's take great pleasure in owning things, said Jon Samsel, Heardable co-founder and CEO. "And popular reality shows like Storage Wars are fanning the desire to acquire even more stuff. This has created a huge market opportunity for forward-thinking brands like Extra Space Storage. They're doing things like syndicating content across social media to win over new fans and spread positive word-of-mouth. For example, Extra Space sponsors a live chat session series on Facebook hosted by two highly respected, professional organizers: Josh Zerkel and Lisa Zaslow. Popular brand outreach programs like this are extending the company brand into the personal organization space and helping to generate greater shareholder value -- a smart move for Extra Space."
Self Storage Industry Insights
At the 8th Annual Self Storage Owners Summit that took place on July 19, 2012 at the Balboa Bay Club and Resort in Newport Beach, California, the following insights were shared, according to Inside Self Storage
1. Self storage customers are increasingly using nontraditional methods to shop for storage facilities.
2. Converting prospective customers into paying tenants is critical to the success of a self storage facility, but it's a task that's getting harder to do well.
3. Self storage in today's market is as much about marketing as it is real estate development and ownership.
4. Self storage operators who fail to evolve and adapt to changing market trends risk weakening their brand, losing their value proposition and their revenue.
5. Self storage owners who are not improving their online presence and/or cater to an increasing number of consumers relying on mobile technology are likely losing out to competitors who are more aggressively promoting their brands, improving their websites, engaging in social media and targeting mobile users.
As an example, summit attendees were told that approximately 60% of rentals contracted by CubeSmart come from its website. Over one-third of CubeSmart’s web traffic came from visitors using mobile devices. Yet, the majority of summit attendees said their companies had not yet deployed dedicated mobile websites. A huge marketing miss.
The Top 5 Self Storage Brands Online, Ranked by Heardable Score
1. Extra Space Storage
3. Public Storage
4. Uncle Bobs
5. Storage Masters
Read the report to see how all the brands scored, plus review charts, graphs, analysis and more.
Table of Contents
Social Media Assessment
Content Sharing Assessment
Website Usability Assessment
Top 10 Brands: A Closer Look
Report length: 129 pages
"American's take great pleasure in owning things, said Jon Samsel, Heardable co-founder. "And popular reality shows like Storage Wars are fanning the desire to acquire even more stuff. This has created a huge market opportunity for forward-thinking brands like Extra Space Storage. They're doing things like syndicating content across social media to win over new fans and spread positive word-of-mouth. For example, Extra Space sponsors a live chat session series on Facebook hosted by two highly respected, professional organizers: Josh Zerkel and Lisa Zaslow. Popular brand outreach programs like this are extending the company brand into the personal organization space and helping to generate greater shareholder value -- a smart move for Extra Space."
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