Revenue management has helped StorageMart provide higher quality service and reach customers, by using big data to implement revenue management. We use big data to make informed decisions about pricing strategies by comparing several price points against consumer demand and also same price points as our competitors. Analytics turns this information into thousands of pricing points to help us reach our consumers with the best price.
Our customers benefit because they have more choices available to them. Deluxe units offer the most conveniences, while Best Value units offer the same square footage but are typically not at premium proximity to access points. The beauty of revenue management is giving our customer the option to decide what units fit their situation the best.
The key is to avoid making costly mistakes along the way. Read the entire article