Smart business owners, and this includes mobile home park investing, know that it’s easier to increase the lifetime value of a customer than to find a brand new one. Marketing and advertising costs normally make it much more expensive to turn Joe Schmoe off the street into a believer in the advantages of patronizing your business than to simply get a customer you already have to spend more money.
Consider that your current customer base might be the single biggest asset your mobile home park investing business has. We’re talking about cross-selling, up-selling, and forming strategic alliances. The first thing to realize is that a customer is not renting a self storage space from you in vacuum. Events in their life have forced them to take the step of paying someone for extra space. Chances are they have other needs as well. The vast majority of self storage use is centered round a move.
What if you, as a trusted self storage provider, could also point them in the direction of a quality realtor, mortgage broker, carpet cleaner, mover, packing supplies, insurance…you get the idea. These professions likewise have a cost to find new customers and many would be glad to pay you a finder’s fee for sending people their way, especially if your finder’s fee was slightly lower than what they’re already paying. Better yet, rather than a financial arrangement, perhaps they would send you customers in return.
After an initial successful sales pitch, it’s time to step in and offer all those other services to your customer. It doesn’t need to be a hard sell. Approach it as if you’re simply trying to do them a favor, which you are. A happy customer will likely report a good retail experience to many additional people. Run your business right and word-of-mouth is your best friend.
Strategies like the one just described are a perfect way to increase your mobile home park investing profitability without raising rents.
The Mobile Home Parks Listing Team
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