Self Storage Lab

Hoping to stand out in this competitive landscape and focus inwardly on improving operational efficiency, operators are looking to the integration of innovative technology and the inclusion of customer-centric amenities within their facilities.

Today’s episode will be part 2 of 3, where we'll touch on the state of technology being utilized today throughout the industry. We start by breaking down the different tools available to operators, big and small, to help run their day-to day, plus how automaton can make you a better operator.

Mentioned in this episode:

Intro to Technology

We asked ourselves the following questions.

• What issues were operators trying to solve this year? / What was top of mind this year?
• What to look forward in the coming year?
• 
  

Online Presence Breakdown

The rise of digital marketing has created different touch-points for customers to engage with your brand. Prospects are now further down the marketing funnel when they eventually talk to your store team. They will have already visited your website, read some reviews, and perhaps browsed through your rates. You have to ensure you can service prospects and tenants wherever they are.  

Back of Office Breakdown

The back of office tech stack is the core of running and operating your self storage operations. These tools help an operator easily manage, monitor, and run their stores and their teams. These directly impact operations, revenue, and tenant management and support measures.

Facility Operations Breakdown

Over the last year there’s been a big push on this front. We’ve seen a lot of good stuff at trade shows related to state of the art hardware and software tools. These tools are helping operators streamline facility operations by helping to reduce operating costs and drive a renewed focus on their IN-STORE customer experience.

If you haven’t already, go download the second edition of our industry report “The State of Technology in Self Storage”. We cover a ton of data points focused on how operators should think about putting The Modern Customer at the center of their universe.

We also unpack over 2 million conversations with customers in the past year. We think you’ll really like it.

Stay tuned for Part III where we explore the entirety of swivl’s conversational data trends and how AI is impacting Self Storage today.

Consumer behavior has changed and operators need to rapidly adopt technology to stay current in today's economic landscape. Just last week, we put the final touches to our newest edition of the State of Technology in Self Storage. Building off of two years of data and a mass surge towards AI-driven experiences, the report highlights unique insights to showcase how new technologies are affecting the industry.

This special series will be divided into three episodes, going over the main sections of the report:

1. The Trends our data showed us about the average self storage operator and customer
2. The key business areas that will be impacted by AI and new technologies.
3. And, the main takeaways from over 2 million customer conversations used to optimize business operations.

Today’s episode will be part 1 of 3, where we will explore the trends we uncovered from our data and, how operators are adapting to what we call, the Modern Customer.

Mentioned in this episode:

A Year in Review

• Recognition of the challenging past 12 months affecting various industries
• Tight budgets and cautious spending in response to economic challenges
• Changing consumer behavior and the need for rapid adoption of technology

Trend 1: Efficiency Matters

• Learn how operators are reassessing their operational stack, optimizing teams, tools, and data to enhance the customer journey's
• Addressing organizational bloat and improving overall journey for customers
• Emphasis on intelligent automation and resource optimization

Trend 2: Conversations as Meaningful Experiences

• Prioritizing customer experience for immediate engagement
• The significance of two-way conversations, cross-channel interactions, and deeper customer insights
• Empowering customers and creating personal connections

Trend 3: Augmented Intelligence

• How are operators leveraging augmented intelligence today
• Moving toward a data-driven culture and utilizing machine-generated insights
• The focus on workforce evolution and the benefits of an augmented approach

Trend 4: Breaking Silos

• Importance of breaking organizational, data, and mentality silos
• Embracing team sharing and access to diverse data sources
• Overcoming challenges of fragmented customer experiences and duplicated efforts

Common Thread: The Modern Customer

• Placing the customer at the center of business decisions
• Catering to the expectations of the modern customer
• Addressing generational demand and preferences
• The significance of seamless and convenient access to physical facilities

Stay tuned for Part II where we explore the technology and customer-centric amenities that operators are investing in to stay competitive.

Today’s podcast explores AI as an umbrella term, capabilities, limitations, and get a glimpse of what the future holds for this technology.

Rodolfo did such a good job at explaining this topic on a recent CSSA webinar, that we decided to play you the entire conversation. For more on AI topics, dive into some of our most recent episodes.

Topics Explored:

• Automation vs. AI
• • What is Automation?
  • What is Artificial Intelligence?
  • Why is it important to move beyond the term "AI"?
• AI in Self Storage
• • Adoption of AI in Customer Service
  • AI at a High Level
• What is Vertical Intelligence?
• • LLM Limitations
  • Differentiation between LLMs and Business Specific Models
• Next Opportunities
• • What’s in store for the future of customer service and communication?

AI is all the rage right now. But what exactly is it? It’s thrown around as a buzzword and can often be a blanket term that encompasses a broader set of tools and technology. So let’s chat about what is and what is not AI.

Topics Explored:

• What is Automation?

• Automation vs. AI
• Why is it important to move beyond the term “AI”?

• The Different forms of AI

• What are some examples and practical applications?

• The current state of AI Research

• Big tech’s stake in AI’s advancement
• What are the pros and cons?

• Vertical AI

• Deep dive into the AI Stack
• How does vertical AI differ from other forms of AI?

In the later part of the episode (44:24), we hear from operators who have gone through the decision-making process and learn about their experiences with different facility management software.  Stay tuned for valuable insights that can guide you in selecting the best software partner for your self-storage business.

The Importance of Selecting the Right Facility Management Software (FMS) 

• How do the different FMS types impact your self-storage business differently?

• What key factors should you consider before making your decision?

• Are there any industry-specific challenges you should address through your software choice?

Core Features to Look for in Facility Management Software

• What are the essential features that every FMS should offer?

• How important is integration with your self-storage website and customer relationship management (CRM)?

• Are there additional features that can enhance the customer experience?

Scaling Up: Finding the Right Fit for Your Growing Business

• What considerations are crucial when selecting FMS to support future expansion?

• Are there any potential challenges when transitioning from a simpler system to a more robust FMS?

Understanding the Data Structure and APIs

• What information can be accessed through the APIs? (e.g., tenant data, occupancy rates, pricing, etc.)

• Does the facility management system offer open APIs for collaboration and ecosystem building?

Analytics and Reports

• What types of analytics and reports are available in the facility management system?

• Can custom reports be generated based on specific requirements?

Cost Considerations

• How is the pricing structured for the facility management system?

• Are there additional costs for specific integrations or API access?

Tech Support and Onboarding

• What is the onboarding process like for transitioning to a new facility management system?

• Is there a designated account manager or tech support representative for assistance?

• What is the service level agreement for tech support and issue resolution?

Customer Experience and Integration

• How does the facility management system integrate with an operator’s website for tenant login and account access?

• Are there any concerns about customers’ trust and understanding when interacting with the facility management system through an operator’s website?

========== Operator Conversations =========

Grace Totty on Choosing the Right FMS (44:24)

Brett Copper on Choosing the Right FMS (1:10:40)

---------------------------------------------------------

Back to the episode (1:17:50)

Essential Questions to Ask When Evaluating an FMS

• Does the FMS offer educational material and an onboarding process for easy implementation?

• Should operators request customer references to gauge the FMS’s performance and support?

• What support and tech assistance should operators expect from their FMS providers?

Wrapping Up and Looking Ahead

• What factors are driving innovation in FMS, especially in terms of contactless and mobile solutions?

• What improvements can FMS providers make to enhance customer-centric offerings?

• How is AI changing the landscape of Facility Management Systems?

• How can operators benefit from the ongoing development and integration of AI in FMS?

In our tenth episode, we dive into the five different levels of automation, from manual processes to more advanced use of technologies, and examine how they are transforming the way humans work. We walk through the challenges, benefits, and exciting opportunities that we can expect from automation, and how these might come intro fruition in this dynamic and ever-evolving industry.

Topics we explore

• What is automation?
• 5 Different levels of automation
• Examples of each
• Pros and Cons
• How does it relate to Self Storage?
• What to expect in the future

Timestamps

• Why so much talk about self driving vehicles? - 2:00
• Why we picked this topic - 5:53
• What is automation? - 8:40
• Level 0 - 9:35
• Level 1 - 15:00
• Level 2 - 19:42
• Experience riding in an autonomous vehicle - 24:12
• Level 2 in self storage - 28:29
• Level 3 - 30:47
• What level is swivl? - 36:23
• Level 4 - 40:51
• Can a self storage property get to Level 4? - 43:40
• Level 5 - 46:45
• Recap - 49:52

.Have you ever reached that point where running your self-storage property just feels like too much to handle? The good news is that you've got options!

In episode 9 of the Self Storage Lab podcast, Kyle, Mason, and Rodolfo discuss the varying management styles in the self storage industry and how they have led to changes in the day-to-day functions of operating teams.

Mentioned in this episode:

The transition period in the industry

• The shift from traditional brick and mortar management to remote, unmanned, and virtual management

• The rise of technology and changing consumer expectations

• The impact of COVID-19 on management styles

Different management styles

• Fully remote or unmanned management
• Hybrid management styles
• Automated management

Which management style is right for you?

• The benefits and challenges of the different styles of management
• The role of human involvement in remote management
• The need for reliable technology and security measures
• The importance of customer service and personal interaction
• The potential for robots and other technologies to replace human involvement

The shift in management styles in the self storage industry

• The importance of focusing on sales and service centers and boots on the ground personnel
• Viewing management styles as a customer journey
• The importance of the first-time rental experience
• 70% of renters are first-time renters

The role of technology in improving the customer experience

• The potential for cloud-based software, mobile apps, and kiosks to improve efficiency and convenience
• The need for reliable technology to protect sensitive data
• The potential for technology to improve the ongoing customer experience

Making the decision for your business

• The importance of finding the right balance for your business and customers
• Pros/Cons of In-house management
• Pros/Cons of Third-party management
• The economies of scales of Third-party management

Remote vs. Unattended facilities

• Is it truly unmanned/unattended?
• The benefits/challenges of remote management
• What’s the difference between remote and hub and spoke?
• What’s the deal with unattended facilities?
• Finding the right balance

The Importance of Simplification

• How to streamline the Customer Journey to bring uniformity
• Simplifying the technology stack to have one way to do as much as possible is key to success
• How to optimize the Rental and Sales Process

Leveraging automation in self-storage management

• The impact of technology on hiring and employee turnover rates
• The importance of standard operating procedures (SOPs) in remote management
• The role of technology in enhancing property value and attracting higher-end tenants
• Tools and technologies for remote management, including video calling, contact centers, and automated locks
• AI for predictive maintenance and enhanced security
• Thinking outside the box and applying retail strategies to self-storage management and operations.

Thank you for listening. Please leave any feedback and we encourage you to subscribe to get the latest episodes instantly.

Long gone are the days when customers only had one or two options for interacting with a company. Today’s customers move freely through digital and analog channels, using telephones, web chat, social media, and others to make purchases, find solutions, initiate returns, and more.

In today's episode, we will be discussing the importance of having a cohesive communication strategy across all channels, including email, social media, and in-person interactions. We will also delve into the role that technology plays in enabling shoppers a seamless, consistent experience wherever they engage with your brand

Some of the topics we will be covering in today's episode include:

• The definition of omni-channel communication and why it matters
• We will dig into benefits you might expect from a successful transition
• Examples of successful omni-channel communication in action
• A look at trends to keep an eye on in the new year

We hope you enjoy this episode and come away with a better understanding of the importance of omni-channel communication in today's world.

Show Notes

1:23 - What is Omnichannel?

• Defining Omnichannel Communication and why it is important
• Expected response times for main communication channels (8:15)
• The difference between Omnichannel and Multi-Channel

11:43 - Benefits of Omnichannel Strategy

• How can you leverage an omnichannel strategy to improve customer satisfaction and loyalty?
• Companies with a strong omnichannel strategy retain an average of 89% of their customers.
• Consistency is KEY
• How to eliminate friction and silos within your organization?

13:52 - Talk is talk. Time to get our hands dirty. How to create a plan?

• Who in your organization should be involved in creating an omnichannel strategy?
• How to go about creating an action plan to implement the strategy?
• How to create a strategy that combines both in-person interactions to online services?

17:25 - Examples of Companies Doing Omni-Channel Right

• Can I use Apple as an example for every topic?!
• We discuss how some world-renowned brands are using an omnichannel strategy
• Who in Self Storage is doing omnichannel right?

24:35 - How It Affects Operators

• What are some of the common pitfalls and challenges business face when implementing an omnichannel strategy?
• How to make the transition from a single-channel and multi-channel strategy
• What questions to ask when implementing this strategy?
• How to incentivize your team successfuly?

31:52 - How to leverage technology to achieve a true omnichannel communication

• What’s the role of Automation in an omni-channel strategy?
• What is a “channel” and which ones should I be paying attention to?
• At what point in the customer’s journey do store managers need to get involved?

39:53 - Pet Peeves

• Some fun personal anecdotes of bad omnichannel experiences

44:47 - Self Storage Wrapped | Future Trends

• Conversational AI will continue to permeate communication stacks
• Amazon Go - style Self Storage facilities?
• Can technology create more human connection in the industry?

Welcome to the first episode of The Self Storage Lab. Today we dive into who we are, what this podcast is about, and why we're doing this. 

For more information about what we do at swivl, check out our website: tryswivl.com

Also, be sure to check out the Operator's Blueprint: tryswivl.com/blueprint

Join us for our brand new show, The Self Storage Lab–a new podcast deconstructing how operators are adapting to today’s technology-driven landscape and how it might impact your business.

In the age of hyper-informed, store-anywhere customers, your business needs to be always on, data-driven, and customer-centered.

Wether you’re a thousand location operator or looking to get into self storage with your first property, nerd out with us as we help you decide what’s best for your business.