A recent article by Tony Jones on Inside Self Storage touches on the subject of Brand loyalty and how Covid-19 is challenging all industries.
Although the Coronavirus pandemic has tested the patience of consumers, Jones notes that self-storage operators have an opportunity to build brand loyalty and enhance customer relations.
Jones goes on to discuss that consumer brand loyalty is earned, and consumers regularly use a poor experience as an excuse to switch to a new product or service provider, but empty grocery shelves, shuttered retail stores and lagging delivery speed due to the current health crisis have been the latest impetus for shoppers to try new brands.
How does this affect the Self Storage industry in particular? The good news for self-storage operators is this change in consumer behavior isn’t likely to affect rentals. Most tenants who vacate a unit do so for reasons other than competitor availability, though convenience certainly ranks high when trying to convert new customers. The larger threat will likely come from discretionary-spending decisions stemming from prolonged economic uncertainty.
Jones speculates that this is more of an opportunity for Self storage facilities to solidify their relationships with their renters by improving communication, working on solutions for For tenants facing hardship and leveraging contact-free solutions to minimize or eliminate face-to-face interactions with customers, while still providing a seamless move-in or move-out experience.
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