About SiteLink Price Optimizer

Sue_C

SiteLink lets you create your rules for adjusting rates so current and new tenants always pay the right amount. SiteLink Price Optimizer is a rich set of tools, yet easy enough to use to change prices daily.

Setting new standards for flexibility and ease, with SiteLink Price Optimizer you can set rates outside of SiteLink using Excel spreadsheets, or by setting up business rules within SiteLink and letting it do the work. Ready to go, out of the box, SiteLink gives you the tools to manage unit and tenant rates that work the way you want.

Total unit and tenant revenue management has never been easier. Learn more about SiteLink Price Optimizer.

jimmooneyjr

My only wish list item here was better reports so we can track the effectiveness of the push rate program. I know I can export move in reports and such, but looking for long term results

Eric_Lewis

Jim,

Thanks for the suggestion. I have some ideas and will reach out to you directly to further discuss.

David_McCormack

Hi Jim, 

You help operate a large & very well run organization, and you are a power user of SiteLink. I believe your question is best handled on the phone as Eric suggests however, I do think there are many participants in the forum who do not use SiteLink Price Optimizers push rates, and/or do not fully appreciate the reports that are already built into SiteLink: 

1. Key Metrics that matter to all owners and managers are found in: Management Summary Report (Revenue, occupancy, delinquencies, etc ). For those who have not enabled Revenue Management in SiteLink, the differences between managing rents via SiteLink and managing via legacy methods should be apparent in your Management summary report. Many owners will use push rates at one of their stores but not at the other as an A/B test of sorts. In these scenarios the "bottom line" found in the Management Summary may be the best gauge. 
2. Management History (year over year (13mos)). Again the big numbers that count to all owners are found in the History report where we can compare year over year performance in general, and as it relates to Price Optimizer/Revenue management we can see how policies implemented compare against past periods (this April using plan B compared to April of 2016 using plan A, as a for instance).  
3. The most specific reports we have onboard are the four Revenue Management reports in the Corporate Control Center "Reports" section. Most useful in my opinion is Rate Management History, also included: Tenant Increase Tracking, Unit Demand Tracking & Competitor Comparison reports. 

Using these built in reports will give an operator a very good measuring stick for how their Revenue Management system is performing. Once they have mastered the tool then we have options for the power users which generally require some one-on-one consultation. 

Thank you for your feedback Jim,

Dave 

ThriftyStorage

How can you get any real benefit from the Rent Optimization when facilities are renting their units at less that 50 to 60 cent a sq ft?

Dallas_Dogger

@ThriftyStorage - There are plenty of discounters out there. Focus on service and real value, promote specific offers and products. Bundling merchandise is a good way of upselling too. Many customers focus on price, equally many want good service too. 

Orkocean

There will always be the customers who purely go for whatever is the "cheapest" in the area. But to be honest those aren't the customers I would want to capture, it will be like pulling teeth every time a rent increase comes up for them. Focus on providing a quality product with superior customer service, not all customers are about the cheapest around and will look for the best "Value" around.

ThriftyStorage

Many customers are about the least expensive, 2nd....Location! You can talk all of the customer service and product presentation until you're blue in the face......but you always better be polite!!!!!!

grantams

Offer your current tenants, and prospective ones an "ultra-clean" facility.  Walk down your hallway running your fingers over the roll-up doors. After passing over 2 doors and your fingers are dirty, then you "DON'T" have an ultra-clean facility.  We wipe down our Install air-freshers at every entrance.  Fumigate your interior units every three months.  When you post your "fumigation dates" send emails to your "exterior unit" renters informing them you will fumigate their unit if they open their door on fumigation date.  Extra effort will keep your facility bug-free.  We increase rents on the tenants anniversary date and us the Site-Link Price Optimizer to create the new rent rate, based on unit size occupancy.

ThriftyStorage

grantams: Who cleans your door? Is it the manager? Or a crew? Who fumigates your facility? Is it the manager? Or a crew?