Most successful business owners utilize a vast array of technology products and services to help them manage their businesses. In the self-storage arena, some of those include website hosting, property management systems, access control systems, etc.
Products from tech giants Intel, Google, and Intuit have long been in the stack as well. These technologies enable management of much of the business, providing owners with additional time and/or peace of mind.
In the past 10 years or so, there has been a paradigm shift away from manual processes to more automation and reliance on technology. In fact, 85+% of today’s U.S. market capitalization is comprised of intellectual property, services, and software as more than 75% of companies rely heavily on technology to manage their businesses.
As NextGen operators look to adding more technology to their stack, many are overlooking advertising management as an area for technology enablement. While many are using third-party services to assist with the placement and design of pay-per-click (PPC) and social media advertising, the internal processes are still very manual and outdated in their application. At Adverank, we have Tech Enabled Ad Management as the very basis of our platform.
Outdated Ad Management
Many operators spend hours of their time digging through management reports and/or building spreadsheets to analyze occupancy results. For the most part, this is occurring after the end of a month or other reporting period. Next, the results of advertising must be compiled or reviewed and then compared to the occupancy results. Usually, there is also then a meeting to discuss these results internally or with outside vendors to determine the best course of action relative to advertising budgets. At the end of this long, arduous journey, gut-based decisions are required without the use of simple or sophisticated technology, and usually weeks after prior results.
Adverank Tech Enabled Ad Management
Top operators today have technology tools that help them assess occupancy and advertising performance hand in hand. At Adverank, we utilize proprietary algorithms to assess your daily occupancy results alongside PPC results to provide you with a daily Adverank of all your facilities. As well, Adverank provides calculated recommendations for PPC budget adjustments based on your desired occupancy targets. This information is always available on any platform with access to the Internet. This allows operators to make quick decisions in response to changes in occupancy or ad performance. It also eliminates hours of time usually dedicated to making these decisions based on more traditional methods. Adverank measures what matters and presents it to you in a way that can be easily acted upon.
Today’s operators have better uses for their time than trying to sort through reports, have meetings, and make unsupported advertising decisions. Technology Enabled Ad Management should be in every operator’s toolbox to help align financial resources set aside for advertising with the occupancy goals of the business.
