LENGTH OF TENANT STAY
**Data measured for in-place customers mid-month to reduce volatility. 597 “Core” EXR stores.
Following Through: 2022
Extra Space Storage’s platform continues to outpace competitors in attracting potential self-storage customers and converting the leads into rentals. The Extra Space team has followed through on several innovative projects and tactics to keep the platform cutting edge, including launching a newly designed website in 2022. The team constantly refines its approach to drive high-quality traffic to the properties, to offer the right pricing to each customer, and to optimize revenue. The thoughtful, data-driven strategy brings and keeps customers at Extra Space Storage.
PLATFORM
HIGHLIGHTS
28%
OF RENTALS COMPLETED ONLINE
16.1
MILLION UNIQUE WEBSITE VISITORS
ADVISORY BOARD MEMBER
**Data measured for in-place customers mid-month to reduce volatility. 597 “Core” EXR stores.
OMNICHANNEL
"Our goal is to meet customers wherever they want to meet us, giving them more options to have the customer experience that best suits their needs."
– Samrat Sondhi, CMO
Customer Experience
Extra Space’s 1.3 million customers find the company through just about every channel imaginable. Whether a customer begins their journey with a Google ad, a TikTok, the call center, or driving by a property, Extra Space offers a positive customer experience. The Extra Space team listens to customers and acts to meet their needs. The team is focused on building an onmi-channel experience, so no matter how you interact with Extra Space – online, over the phone, at a kiosk, or in-person – there is a consistent, efficient experience.
Marketing
Marketing continues to change rapidly in the digital era, and Extra Space is equipped to stay ahead of the curve. Through sophisticated digital marketing strategies, Extra Space identifies high-quality prospects and guides them to leasing at a property, at a low cost per acquisition. The team’s expertise in search engine optimization, pay-per-click advertising, website optimization, social media marketing, and brand management all drive customers to visit Extra Space online, chat with call-center agents, and ultimately rent storage. In 2022, the team launched a new customer website, redesigned with cutting edge user experience and a powerful website back-end that sets the stage for additional technology advancements in the future.
Pricing
Extra Space’s pricing is driven by a proprietary revenue management system that is constantly refined through testing and optimization. Occupancy, length of stay, market data, customer data, and historical data all help drive rates, discounts, and advertising strategies in each specific market, property, and even unit type. This is possible due to the sophisticated platform and Extra Space’s scale, which allow the company to run statistically significant tests quickly due to its large customer base. Extra Space uses these tools to maximize revenue at each of the over 2,300 properties.
Cybersecurity
The IT security team at Extra Space continuously improves practices for information security, protection of data assets, and to comply with consumer privacy regulations. Extra Space audits security practices regularly to ensure the company stays at the forefront of industry standards. As advancements are made in cybersecurity, the team makes updates to advance security initiatives and has the full board and management support to invest in improvements.