Jody Burks | May 2020
Did you know you can now create alerts in Optimize to track and notify you of changes in your competitors’ pricing and inventory availability? Whether you are a large, medium or small operator, StorTrack’s new Market Alerts should be a key part of your daily strategy to effectively drive up occupancy and revenue.
The alerts allow you to actively monitor rate and inventory changes in your markets and to react accordingly. Alerts can be set up to notify designated individuals via email, including store managers, district managers, operators, owners and the revenue management team.
Many Optimize users have already started implementing this unique new feature. “Shortly after signing up, configuring each sub market and training our staff, we began daily use of this powerful tool,” said Scott McLaughlin, Executive Vice President at Sentry Self Storage Management, with headquarters in Coral Springs, FL. “My district managers, site staff and I review rates and inventory on a daily basis, so we can make sure our rates are set to support whatever rate strategy we may be using for a particular location.
“For example, if I have a lease up property where I’m trying to rent as many units as possible, to first work on physical occupancy I may want to know when my closest competitor, or perhaps the local market itself, has a low-price change in that market. I can set my pricing alert to email me when a rate on a particular unit type and size is increased, or decreased, and then react accordingly. If I have a highly occupied store and we’re working more on economic occupancy, I may want to know when a unit type’s highest rate in the market changes.”
The new Market Alerts are the latest example of StorTrack’s response to feedback from Optimize users, like you, and commitment to meet the ever changing demands of the industry. To learn more about the alerts, and to view a tutorial on user tips and best practices, click HERE.