Would You Spend $3,110 to Make $12,544?
That’s a 400% return on investment!
This Adverank customer’s self-storage facility did just that. One StorSafe location was able to increase occupancy by 4% in 30 days using a combination of Google Ads, Facebook (Meta) and Spotify advertising campaigns.
How did they do it?!
Let’s look at what was spent over 30 days:
Facebook/Instagram + Spotify Ads - $2,000
Google Ads - $1,110
Total Spend - $3,110
Check out the social video ads they used!
Is a 4% occupancy increase enough to justify that kind of investment?
For that, we’ll need to use some FMS data to understand the value of a 4% increase in occupancy for that facility.
What is CLV and how is it calculated for Self Storage?
Customer Lifetime Value (CLV) will vary per facility because it’s based on the Gross Potential Rent of that location and the Average Length of Stay. To calculate the value of increased occupancy:
Take the monthly gross potential rent for a location
Divide that by 30 to get an estimated daily gross potential rent
Multiply that number by the average length of stay
Multiply that number by the percent increase
For this particular location - here is how the math worked out:
($59,547/30 days) x 158 days x .04 = $12,544!
$3,110 spent on ads -> $12,544 in gained for that facility!
Imagine if you could do that at each location?!
Let’s schedule time to talk and learn more about this and other success stories!
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