In recent campaigns we have talked about the potential for a recession in 2023, as well the potential for retraction in demand for self-storage as the dust has settled from the pandemic.
However, many recent surveys of retail shoppers have uncovered signals of a possible rebound in consumer spending being driven by a sharp increase in online shopping.
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The U.S. Census Bureau recently released the results of its 2021 American Community Survey, which found that between 2019 and 2021, the number of people primarily working from home tripled from 5.7% (roughly 9 million people) to 17.9% (27.6 million people), with some demographic markets as high as 48.3% (District of Columbia). With more people working from home, data from Ware2Go has shown that 87% of Americans are now shopping online and that preferences are changing with how buyers seek out new products and how they interact with brands since the pandemic. This increase in online shopping is outpacing the decline in in-person retail experiences.
Willingness to try new brands during the pandemic has also motivated consumers to conduct more online research before engaging with new brands, with an emphasis on brand values communicated through online advertising. To adapt to these new buying habits, more businesses have shifted further toward digital marketing and advertising and abandoned their brick-and-mortar mindset.
What does this mean for self-storage operators? Taking a cue from large retailers and online markets, NextGen operators and leaders in the industry are focused on their online presence. As Americans continue to increase their online purchasing habits, smart businesses are reading the signals and capitalizing on these opportunities. Smaller operators are taking advantage of social media and digital advertising to communicate their unique brand attributes and personality, as well as increasing their sense of community.
Reading and reacting to signals in the marketplace are imperative in today’s digital economy. Having the right tools in place can help operators keep their fingers on the pulse of shoppers in their market. For instance, the pandemic has driven a large increase in the amount of office supplies purchased online as more home offices are being established. Have you communicated your inventory of indoor, climate-controlled units as a storage option for home businesses? Perhaps new landscapers and contractors need a place to park trailers and vehicles somewhere other than their own driveways? How are you reading the signals and reacting in the marketplace? Contact us today to learn how Adverank can help you interpret those everchanging signals.
Adverank is an industry leader in driving occupancy through social media advertising.
We have developed our own proprietary targeting (SocialBoost) that allows us to identify consumers with precision based on their interests and behaviors. Our SocialBoosts are designed to influence potential customers who may not be actively searching for storage but have an associated need. We can also create highly tailored campaigns for niche facilities such as RV, boat, and trailer storage, which can help accelerate lease-up goals following new construction or acquisitions.
Through our combination of PPC and social media advertising, Adverank has been able to help many of our clients reach their occupancy goals.
Our team is experienced in creating and managing both PPC and social campaigns, and we are dedicated to delivering results that exceed expectations.
Contact us today to learn more about how Adverank can help your business!