Mismanaged
It’s simple to spot when a self storage property is mismanaged. Declining sales, decreased revenue, and loss of customers are all tell-tale signs of a problem. Additionally, other indicators, like a lack of communication and high employee turnover, could go unnoticed.
Whether warning signs are visible or not, they must be addressed before they become out of control.
Pinnacle Storage Managers is a third-party management company that can get your facility back on track. If you experience any of these issues at your facility, give us a call. We can help you reach your business goal.
Evidence that Your Self Storage Facility is Mismanaged
Low Employee Retention Rates
High employee turnover is a red flag. Not only does this cause a drop in productivity but it’s a financial drain on your internal resources. Hunting for, hiring, and training new employees can be expensive. In addition, you’re constantly faced with new, less experienced staff, which leads to a higher percentage of accidental mistakes.
Your team members need strong support and training that will enable them to take your business to the next level. According to SnackNation, happier employees produce 37% more sales than their unhappy counterparts.
Insufficient Communication
Communication within the workplace is essential to guarantee that important information is not lost and to create a positive atmosphere. Cultivating a trusting environment is the key to ensuring successful communication.
It’s critical that employees should feel secure enough to share their thoughts, doubts, and suggestions without hesitation. According to Expert Market, 28% of employees listed poor communication as the reason for overdue projects.
Holding regular meetings and social events outside the office setting is a way to help employees get to know each other and open up more. It is also important to remember that not everybody has the same communication style. It’s a good idea to offer an online forum for those who are less likely to publicly voice their opinions. Those who work remotely should also be taken into account.
Substandard Management
It’s essential for someone in a management role at your business to have considerable communication and sales abilities. In addition, they should have a strong grasp of customer service and understand the inner workings of your company.
A self storage manager should be able to handle any difficulties that arise and make decisions on the spot. The right leader will stay aware of the competition and ensure customers feel valued.
If your manager is just pretending that the business is succeeding, your self storage facility could experience long-term harm. Bad leadership can be as damaging to your income as poor retention.
Self storage managers should be kept up to date on the newest practices and technologies. Personalized training will not only make them more knowledgeable but keep them motivated to be more productive.
Not Tracking Useful Marketing Metrics
Don’t get fooled by figures that may look impressive on the surface. Your social media following or views of a promotional video don’t actually mean anything in terms of tangible business success. Take a look at what data your company is tracking and decide what is actually useful.
It’s not about collecting data, but recognizing which figures count. For example, it’s important to pay attention to overall website traffic, bounce rate for landing pages, and conversion rate.
By keeping an eye on the right website metrics, you can see which marketing strategies are working. Make sure to focus on the metrics that can help you assess whether or not your website is driving conversions.
Don’t try to measure everything simultaneously. Otherwise, you’ll be overwhelmed. Instead, your objective should be to gain insight into how to enhance the user experience.
Final Thoughts
Signs of poor management can take different forms, some being easy to spot and others harder to detect. If you’re seeing a drop in income, it’s time to investigate the underlying issues. Working with Pinnacle Storage Managers can assist you in finding solutions to help your company get back on its feet.