Value Pricing Session 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 (VP), also known as “Good”, “Better”, “Best” pricing. This strategy and method is increasingly recognized in the self-storage industry as a key one for both increased revenues as well as providing customers increased choice.

The team took a deeper dive into VP. Here, among the many topics covered, are some highlights (with video time markers):

• How does my competition factor into what I charge for my units? (6:35)
• What is VP, and what is Dynamic VP? (17:20)
• How do you promote convenience if you have a single story facility? (24:30)
• How does VP 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)

Discover what VP is, how it can benefit you, and how you can start implementing it today. VP is a key strategy for benefiting both the self-storage operator and the customer. For more on the topic of VP and the concept of how convenience ties in, see our blog “The Value of Convenience“.