Adverank is the industry leading tool that helps self-storage operators advertise their storage facilities online. Adverank uses artificial intelligence, powered by Microsoft AI, to analyze data and make predictions about how well ads will perform.
Adverank's latest feature is called Social Predict, which helps self storage operators decide whether or not to use a social media paid advertising campaign to find more customers.
Before Adverank's AI engine can run for a self-storage facility, the facility must meet certain criteria.
- First, its occupancy rate must be less than 90%. This means that there are available units for people to rent.
- Second, the facility must not already have an Adverank Pay-Per-Click (PPC) Budget Adjustment Recommendation. PPC is another type of online advertising where businesses pay for clicks on their ads.
- Third, the facility must have a search lost rate of 5% or less. A high search lost rate means that potential customers are having trouble finding the facility's ads online.
- Finally, the facility must NOT already be running a social boost, which is a paid promotion on social media to increase visibility.
These criteria are important because Adverank wants to make sure that a facility's PPC campaign is working well before adding a social boost. If a facility's occupancy rate is low or its PPC campaign needs improvement, Adverank believes that focusing on PPC will lead to better results overall. However, if a facility meets all the criteria and its occupancy rate is predicted to stay the same or decrease, then a Social Boost may be recommended to help attract more potential renters.
In technical jargon, Adverank's AI engine uses Singular Spectrum Analysis (SSA) to predict a facilities' occupancy rate for the next five weeks.
SSA is a method of time series analysis and forecasting. It sounds complicated because it is. It involves using our friends at Microsoft AI to analyze data over time to detect patterns and trends that can help predict future outcomes. This means that we can analyze your facility's occupancy in the presence of noise (such as seasonal fluctuations or external factors impacting occupancy) without relying on predetermined models. This is very useful in the case of self-storage facilities, which can be impacted by many different factors.
Adverank builds a model with as much data as it can collect for a facility and trains it to run an SSA forecast. If the forecast predicts that a site's occupancy rate will increase, then no Social Boost is recommended. However, if the forecast predicts that the occupancy rate will stay the same, decrease or remain stagnant within 2.5% of current occupancy, then Adverank may recommend a Social Boost to help the facility attract more renters.
Overall, Adverank's new Social Predict feature helps storage operators make informed decisions about their online advertising strategy. By analyzing data and making predictions based on that data, Adverank can help self-storage facilities get the most out of their paid promotions and attract more leads and customers.
Explore Adverank.com and book a demo to see Social Predict in action.