Session: Value Pricing and What Should I Charge?

See the StoragePug GabFocus video session with Dr. Warren Lieberman and Jim Mooney, along with hosts Tommy Nguyen and Melissa Huff, on a Q&A about Value Pricing. Value Pricing is increasingly recognized in the self-storage industry as a key pricing strategy for both increased revenues as well as providing customers increased choice.

The team took a deeper dive into Value Pricing, and among the many topics that were covered, here are some highlights (with video time markers):

• How does my competition factor into what I charge for my units? (6:35)
• What is Value Pricing, and what is Dynamic Value Pricing? (17:20)
• How do you promote convenience if you have a single story facility? (24:30)
• How does Value Pricing work differing levels of vacancies? (35:50)
• Where do I begin in implementing value pricing? (41:50)
• How difficult is it to train our team on this VP program? (46:00)

For more on the topic of Value Pricing and the concept of how convenience ties in, see our blog “The Value of Convenience“.