THE DADDY OF METRIC'S

GM Store Nation,

Ive been away the last two days looking at, one potential new site and one site at Heads Of Terms … WHOOPPP

The site at Heads of Terms is a container site (0.8 acres), brilliant location in …. Scotland.

Hahah I can’t tell you more than that at the minute but were hoping to complete 1st March 🤓

Slow week at Store More HQ this week -

Yesterdays Stats …

WILLERBY:

BEVERLEY:

CLOUGH ROAD: 

WREXHAM: 

MANSFIELD: 

• 4 Reservations

• 4 Move Ins

• 2 Move Outs

Lets … Do … This …

Here's what coming your way today :-)  😎 🎯

🤐 A Self Storage Tip - “Customer Life Time Value”

🤝 3 Self Storage News Stories

🧐 Yesterday’s figures for each facility

🥸 1 Meme of the day

Self Storage Tip - 💡 💰 🤑

THE DADDY OF ALL METRICS!! ♥️

Customer Life Time Value 

I LOVE this metric! 

This metric is crucial, once you know your lifetime value of a customer you can then determine how much you can spend to acquire a customer 

There’s a few different ways to work this out … I like to keep it simple (as long as you have a rough idea of what the figure is, you're good!)

I take my Average Customer Value and multiply this by the Average Length of Stay  

(ACV = Turnover Divided By Customers … We spoke about this in yesterday’s newsletter 👏)

My ACV is £180 

My average length of stay is 10 months (this will increase as sites mature)

10 months x £180 ACV Per Month = £1,180 Life Time Value 

If you don’t know your LTV how do you know if your marketing is working? 💡

I spend around £100 to acquire a customer through PPC adds 

I know on average a customer will pay me over a thousand pound during there stay with me 🤓

So I spend £100 and get back £1,180 … Sounds good to me 😝

Knowing these figures I know that my marketing is working at a cost that the business can sustain and support 

** Please note you can go even further with this. You can associate an expense figure for each customer as well …. 

Once you have a revenue figure and expense figure for each customer you can then see how much each customer nets you …. 

But this is going a little deep for this newsletter 😂

Industry News -  🧐

• The art of customer follow up

• The four major real estate investment trusts in this industry are down about 25% on average this year

• How to onboard a new hire

The fun bit - My business .... Bare Butt Naked! 😲 🤫 🤭

Willerby (Hull) … My Big Site

• 0 Reservations

• 1 Move Ins

• 0 Move Outs

Month to Date -

• PLUS 75 Sq Ft

Reservations so far this week = 1

Move Ins so far this week = 2

Clough Rd Figures ... The Automated Site

• 1 Reservations

• 1 Move Ins

• 1 Move outs

Month to Date -

• MINUS 85 Sq Ft

Reservations so far this week = 1

Move Ins so far this week = 1

Beverley … My Baby (First Site)

• 0 Reservation

• 0 Move Ins

• 0 Move Outs

Month to Date -

• MINUS 50 Sq Ft

Reservations so far this week = 0

Move Ins so far this week = 0

Wrexham's Figures (Indoor) ... My First Acquisition

• 1 Reservation

• 1 Move Ins

• 0 Move Outs

Month to Date -

• MINUS 15 Sq Ft

Reservations so far this week = 1

Move Ins so far this week = 1

Mansfield Figures … My New Site

• 2 Reservation

• 1 Move Ins

• 1 Move Outs

Month to Date -

• PLUS 175 Sq Ft for the month

Reservations so far this week = 3

Move Ins so far this week = 1

Meme / GIF of the day - 👀 😂

Health and Fitness ... Move More = Live Longer - 🏋️‍♀️ 🏃

Weekly goals -

• Gym - 4 times

• Run - 20 - 25 Miles

Results so far -

• Gym - 1

• Run - 13 Miles

Yesterday’s Steps - 15,520

Loads of self storage love,

Dean ❤️ 🙃 

9th