The Extra Space Storage team took performance to new heights in 2021, with a record-breaking year in almost every area of the business. From innovative ways to invest capital in self storage to evolving our employee experience, our 2021 Annual Report covers some of the team’s efforts to innovate, implement, and grow. Marketing, Pricing, and Customer Experience are some of the most important aspects of our platform for self storage—here’s why.
Marketing in the digital era moves quickly. We’ve focused on having the best technology and marketing team to adapt to and capitalize on change. We’re quick to invent, implement, and see results. Because of this, we attract high-quality customers through our digital marketing efforts. Our experience in SEO, PPC, social media marketing, and brand management drives prospects to our online rental platform, our call center, and our properties at a low cost per acquisition.
Our proprietary revenue management system drives our pricing, which is constantly tested and optimized. Our pricing, discounts, and advertising tactics in each market are based on occupancy, demand, and consumer data. Due to solid fundamentals in 2021, we saw excellent rate growth across our network of over 2,000 properties. Our in-house data science and pricing teams are constantly improving our third-generation revenue management tools. Our pricing remains fluid and adaptable, even in changing environments like COVID-19.
Extra Space provides a consistent, seamless experience that allows customers to swiftly handle their storage needs in the most convenient channel for them—online, phone, or in-person. We’re also testing kiosks, mobile apps, and more. Customers can acquire a gate code, follow a computerized map to their unit, and store their items with ease, 24/7. Our goal is to develop an omnichannel experience that meets clients where they want us, offering them additional alternatives for a customized experience.
Data-driven innovation has helped our platform for selling storage to consumers, keep pace with the market. As a result, we’re able to provide a consistent brand offering whether a customer discovers Extra Space Storage through Google Ads, social media, influencers, or their local facility. No matter how customers connect with us, they’ll have a consistent and efficient experience while fulfilling their storage needs.
Read our past annual reports, or sign up to receive the latest EXR business news via email alerts tailored to your interests.