Skip Nav

The Marketing Metric You Can Trust

How do you know if your marketing efforts are paying off? The common thought is to look at traffic. Let me provide a metric that will prove to be more valuable to watch and explain the reasoning behind it.

“Cost Per Acquisition (CPA)”

This is the metric you will use to determine if you are making a profit from your marketing efforts. This metric is not exclusive to the online world and should be monitored across all marketing channels that your business utilizes. Answer this question: “How much am I willing to pay for a customer?” Cost Per Acquisition is a metric you can consistently improve and use to increase the return on investment through analysis.

Set Up Conversion Tracking

Tracking conversions is a must to calculate your CPA. At Automatit, we define a conversion as a qualified intent to buy. In self-storage this is typically a reservation or rental. Tracking conversions takes a little extra work but can go a long ways to improve your bottom line. On marketing platforms, tracking can be set up in many different ways. You can set up conversion tracking for free in Google Analytics.

But What About Phone Calls?

It’s vital to track your phone calls from marketing efforts. Use a call tracking provider to track phone calls to your business from your efforts. If possible, use a provider able to break down the back and forth between the manager and potential tenant to identify which calls are leads and which calls are current customers.

Okay...Now How Do I Find My CPA?

I will break this down to help speed up the process for you. Just follow the steps below to find your Cost Per Acquisition:

1.

Gather the cost of all your marketing efforts & add them together

2.

Add up all of the conversions you were able to track from your marketing efforts

3.

Now divide: Marketing Costs / Tracked Rentals



Determining Return On Investment:

Once you find your Cost Per Acquisition, you will need to decide if the number is acceptable. If you paid $100 for a new tenant, is that beneficial? What about $200? It’s very possible, but you can’t know for sure until you understand what each tenant is worth to you. This is where determining the lifetime value of the customers will help. This number is easy to obtain from most software management companies or you can follow additional steps to find this on your own:

1.

Find the average tenant stay in months

2.

Find the average rate per customer

3.

Multiply these two together for average revenue per customer



Putting Cost Per Acquisition Into Practice:

Once you know the lifetime value of your customer, set a goal for an ideal CPA. To do this, you will have to determine where you are in your business lifecycle.

Are you opening a facility next week?

If that’s the case, then you should be willing to spend a little more for a customer and accept a higher CPA if your ultimate goal is to fill empty storage units quickly. Next, work on building revenue through strategies like raising rent over the coming months or years.

Are you at a 90% occupancy and trying to maintain?

Then your strategy changes once again and you should start focusing on lowering your CPA to get the highest return on each and every customer you acquire. Always be ready to adjust your CPA goal based on where you are in your business lifecycle and constantly track this number to ensure success from your marketing efforts.

WHAT OUR CUSTOMERS SAY ABOUT US

4.65 Average Star Rating Viewing 1 of 25
David Segal
star star star star star
Automatit has been a great company to work with. They are incredibly responsive and friendly. I am very impressed with their company and all the people who I interact with there.
David Allan
star star star star star
Automatit has been a great partner to work with and helped us put together a top notch website. They've been responsive to our questions and minor maintenance issues and have been a great partner over the last 5 years. Thank you!
Michael Tsouroupakis
star star star star star
I recently redesigned my website and Automatit did the work for me. They were excellent especially Victoria who led the project from start to finish. Overall I'm very happy and I highly recommend them. Thank you for everything.
Maria Arcenas
star star star star star
We are very satisfied with the new website Automatit created for Aliso Viejo Self Storage. Automatit's staff gave the best customer service!Thanks to everyone involved in this project.
Franklin Young
star star star star star
Highway 5 Self Storage
star star star star star
We are so pleased with Automatit. They were helpful and made it so easy for us. There very creative and will walk you through the project from beginning to finish. There knowledge and customer service is awesome.
Kelley Reever
star star star star star
We are so happy with our new website! Thanks Automatit!
Neil Kadakia
star star star star star
Heather and Kelly from Automatit were very friendly, courteous, and their customer service was top-notch. They were patient through our yearlong process to complete our website and worked with us to create a website we're happy with. I would recommend their service to other self-storage business owners. Cheers!
Nancy Persico
star star star star star
Stacie Maxwell
star star star star star
If you are looking for a web team to truly take you to the top with expert advice, beautiful design, and data-driven results, then Automatit, Inc. is definitely your A-Team.
James Nault
star star star star star
Sira Lawless
star star star star star
Michael McDaniel
star star star star star
martin westbrook
star star star star star
I’m am very pleased with the Automatit team in the development and implementation of my self-storage website!
Tom Leddy
star star star star star
Excellent partner with my business. They have had a major impact on the growth as customers search over the internet.
Jeff Romlein
star star star star star
The dedicated team at Automatit did an excellent job at redesigning our Stadium Self Storage website making it clean, modern and easy to navigate. They integrated seamlessly into our unit management software, allowing us to publish our rates to the web, as well as rent and reserve units online. If you are in the self storage business, and want a successful web presence, then you need Automatit a... Read More
The dedicated team at Automatit did an excellent job at redesigning our Stadium Self Storage website making it clean, modern and easy to navigate. They integrated seamlessly into our unit management software, allowing us to publish our rates to the web, as well as rent and reserve units online. If you are in the self storage business, and want a successful web presence, then you need Automatit as your partner.
Amelia Sholar
star star star star star
Our experience with the Automatit team has been exceptional at every level. They have been incredibly responsive and exceeded our expectations with our new website design. I would highly recommend working with them for self storage web design.
Harold Panciera, Jr.
star star star star star
Over the past 2 months, I have been working with Automatit to develop our new website. It went live recently and I want to share that it was a pleasurable experience to work with them. Their team is comprised of highly qualified, professional people and all have an abundance of sincere caring to please the customer. Having owned numerous businesses throughout the U.S. over the past 41 years, I kno... Read More
Over the past 2 months, I have been working with Automatit to develop our new website. It went live recently and I want to share that it was a pleasurable experience to work with them. Their team is comprised of highly qualified, professional people and all have an abundance of sincere caring to please the customer. Having owned numerous businesses throughout the U.S. over the past 41 years, I know the critical importance of those qualities to a successful business. While there may a bit more fine tuning to do, I am very pleased with our website.
Jacqueline Feldman
star star star star star
Automatit is a great company to work with! Their staff is very friendly, and their customer service is top of the line! They always go above and beyond when answering questions or making updates to our website, and they are very timely. Highly recommend!
floyd hubbell
star star star star star
I've been a customer for many years. They do a great job with my website and SEO!
G Dog
star star star star star
Sean Barron
star star star star star
The team at Automatit has been a pleasure to work with over the past year. From web design to SEO to tech help, they are first rate. They are attentive, responsive and really care about serving the customer to the best of their ability. I look forward to a long and prosperous relationship.
Brad North
star star star star star
I've worked with Automatit for years and they've been great to work with. They seem to always be on the cutting edge of driving internet traffic to our stores through optimizing our Search Engine Optimization and Paid Search Programs. They have become my #1 source for lead generation!
A Schillinger Self Storage
star star star star star
Excellent service..very attentive to individual needs..I highly recommend them!!! Jim Tucker
Ann Winston
star star star star star
We highly recommend Automatit. They helped us design an attractive and easy-to-navigate website for our self storage business. When we request changes, they are quick to respond. Most importantly, the website functions really well, with a large portion of our customers making reservations for rentals on the website.

NEED MORE INFORMATION?

Contact us today!

View Full Article List
Up Next
The Real Impact of Pricing
Interested In Learning More About Marketing?
LEARN MORE