Local Company Increases Occupancy with Targeted Paid Campaigns
A self storage company located in the Dallas Texas metroplex, with multiple locations found themselves at a stagnant place, behind their competitors with declining sales. They had been in business for over 20 years, starting with a single location.
Business was declining and the cost of paid advertising was raising constantly but not producing new business, as marketing shifted to organic search / online search. To make the situation worse, a new national chain self-storage company built a new, modern facility right across the street. The new competitor had a large advertising budget, modern facility and low prices. This company had to take action to bring in new business to increase their occupancy rate and compete with the new competitor.
In the FIRST year the company sat in on several meetings with their current paid advertiser at the time, Yellow Pages. With the account executive, regional manager of Yellow Pages the self storage company wanted to be they fully were informed and understood what was being offered and if the marketing strategy should be redirected or changed. The self storage company produced search and lead generation data that showed the Yellow Pages online efforts were not effective. The company negotiated an “incentive based” package with Yellow Pages that provided free service if leads were not generated. At first, the only effort was a small online pay-per-click campaign to draw comparisons to the Yellow Pages results built off of the new buyer persona’s developed from the data.
In the SECOND year, the Yellow Pages campaign had produced poor results and the storage company then expanded their efforts to a broader pay-per-click campaign, revising the persona’s, a new website utilizing long tail keywords, images with alt text that was mobile friendly and some additional solid local SEO strategies. (See previous blogs for further information on SEO)
Once the Yellow Page efforts were reduced and a more integrated online marketing campaign was implemented, the results accelerated. They were able to produce a steady stream of new leads, concentrating efforts on local college students, Military families locating to Texas and the downtown population who view convenience of location as an importance.
Special offers were highlighted in the website and online advertising. They were targeted to seasonal opportunities, like college students storing their dorm room items for the summer.
By the end of the SECOND year, occupancy rate had increased from 65% to 95%. The self storage was competing strongly with the new facility across the street. Their Yellow Pages monthly investment had dropped to a small percentage of what it was when the project started. Additionally, they had full visibility into where their marketing investment was going and what parts of it were producing new business.
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Resources: Strategy method, Inbound Marketing