The landscape of marketing changes rapidly in the digital era, and we are equipped to stay ahead of it. We prioritize having the sector’s deepest technology and marketing teams and we partner with industry leading external resources to set up an agile infrastructure to adapt and benefit from the constant change. We have consistently been one of the most innovative players in the digital marketing game, and currently serve as a member of Google’s Advisory Board. Through sophisticated digital marketing strategies, we identify high-quality prospects and guide them to lease with us. Our expertise in search engine optimization, pay-per-click advertising, social media marketing and brand management all help drive customers to our website, our call center, and ultimately to our properties.
Once a customer starts investigating Extra Space as a storage solution, they’re presented with a consistent and frictionless customer experience that allows them to quickly resolve their storage need, in the format that is best for them. With the change in operating environment due to COVID-19, we quickly modified our leasing process and launched two new ways for customers to finish their leases – contact-free. Customers can now lease over the phone, or through extraspace.com in an online “Rapid Rental” process. The Rapid Rental process is a big technology feat, processing all the lease paperwork efficiently, communicating crucial information to customers effectively, while also utilizing the highest information security. Through this process, customers can get a gate code, be guided by a digital map to their unit, and begin storing in rapid time, at any time of day. Our goal is to meet customers where they want to meet us, giving them more options to have the customer experience that best suits their needs.
Our pricing is driven by our proprietary revenue management system, which has been refined through years of testing and optimization. Occupancy, rates, discounts and advertising are all tools we use to maximize revenue for each of our 1.4 million units. The use of these tools is driven by our revenue management algorithms. We are currently in our third generation of our revenue management system that was created and is constantly being improved by our in-house data science and pricing teams, employing a dozen of the brightest minds in the field. It continues to be nimble and adaptive, and performed extraordinarily well, even in the changing landscape caused by COVID-19.