Getting the Most from Your Revenue Management and Pricing Program
Dr. Warren Lieberman presents ideas on how a self-storage operator might approach pricing and revenue management differently to obtain greater financial success.
He first looks at geographical differences in pricing, identifies pricing opportunities where self-storage operators might miss, and examines the pricing psychology of the customer.
Warren also looks at why we think about pricing is often wrong, what can we do about it, and what some data-driven insights can teach us.
There is also a question and answer after the presentation, where he further discusses how pricing, especially increases, should be positioned.
Special thanks to The Storage Group.
|00:00||Introduction, Forward by Steve Lucas, CEO The Storage Group|
|04:03||Geographical differences in pricing of self-storage operators.|
|10:22||The concept, importance, and psychology of convenience.|
|19:44||What is convenience in self-storage worth?|
|26:30||Impact of revenue increases on profitability.|
|29:49||Summary ideas of approaching pricing differently.|
|34:08||Question and Answer.|
Warren's presentation was part of The Storage Group's Competitive Strategy Sessions held on July 21-22, 2020. These useful and insightful sessions are further outlined below:
For more information about these other sessions, please contact The Storage Group.