In this solo presentation marking day 100 of the Storage Moguls series, Joe Downs examines how self‑storage customers rent units, comparing phone, online, and walk‑in channels. He cites industry data showing 60‑70% of renters start with a phone call, 20‑30% rent entirely online, and 10‑20% walk in. Downs explains why many customers—especially older demographics—prefer phone contact (unit‑size questions, security, pricing trust) and outlines the advantages of online rentals (after‑hours traffic, automation, younger‑demographic appeal). He advocates a hybrid omnichannel model: a 40% online, 40% phone, 20% walk‑in split, with confirmation calls for online leads and email follow‑ups for phone leads. He highlights that phone conversions are roughly twice online conversions and that contacting an abandoned‑cart prospect within five minutes can recover 20‑30% of lost rentals. To implement the strategy, he recommends using existing tools such as WordPress with Sitelink/StoreEdge APIs for the website, call‑center solutions (e.g., XPS), and CRMs like HubSpot or ActiveCampaign. The video ends with a call to action to join the Storage Moguls community, a teaser for Day 101 on tenant insurance, and a preview of a future Boat and RV series.
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Welcome to day 100, folks, of the Storage 100 series. I'm Joe Downs with the Storage Moguls. Well, we made it. Made it to day 100. Maybe you had confidence, but 100 days ago, I'm not sure I did. All right. I kid. I kid. All right. We're celebrating day 100 with data. Online rentals versus phone calls. Which converts better and where should you invest? For more debates like this and our AI-powered analytics tools and data-driven decision-making, you should probably join Storage Moguls community at storagemoguls.ai, where you can learn the ins and outs of self-storage through the use of multimodal learning across every storage vertical. You can start for free, level up at your own pace, and if you haven't yet registered, you should probably do so because first 500 people get our free Deal Analyzer, GPT, just for registering. All right, back to the data, because today we're diving into a critical question for our business: how do customers rent from us? We'll explore the data behind online versus phone rentals. This isn't just about preference here, it's about understanding your customer's journey. So we'll dig into what the numbers tell us, but first, let's look at the industry data. Because it's important to know what the industry data reveals about how people rent, And it's clear that phone calls still dominate. A significant 60 to 70% of— 60 to 70%, I want to make sure I say that clearly— 60 to 70% of customers start their rental process with a phone call. And this tells us that for many people, the phone is still king. Only a smaller segment, 20 to 30%, actually rent online entirely. And then the rest, walk-in customers, are down to about 10 to 20% of industry rentals. But why do so many people pick up the phone? Because despite the spot— the rise of digital, people still prefer phone calls for, you know, specific reasons. They have questions about unit size, like if their furniture will fit. Security is another big concern. They want reassurance about gates and cameras. And pricing trust is huge too. They want to confirm there's no hidden fees. And this preference is especially strong among the 50-plus age group. So me and my compadres over in Gen X who value human connection. This is true. I do. But there's also a strong case for online rentals and it's your future. So let's talk about the compelling reasons for online rentals. Online options capture after-hours traffic, allowing rentals when your office is closed, assuming you don't have a call center. And frankly, a lot of customers late at night might not think that's even an option. They also require no staff. Automating the move-in process with instant gate codes and other pertinent rental information. And this leads to instant conversion as price shoppers can rent immediately without negotiation. This channel particularly appeals to a younger demographic, those 25 to 40 who prefer digital interactions. So how do we balance these 2 approaches then? Well, the hybrid model is what works best. For online rentals, we add a human touch with a confirmation call. And for those who call us, we provide a digital touch with an email follow-up. This omnichannel approach ensures we meet customers where they are, when they are, and how they want to be reached. It's about combining the best of both worlds. This strategy is actually the best of all the win-wins, and I would employ it regardless of when and how and even into the future. All right. So it's clear that online rentals offer an after-hours advantage. But let's be even more clear when it comes to closing a deal. The phone is still king. Websites are great for information, but they often lead to high drop-off rates. So human agent on the phone can handle objections and guide customers. Phone conversations are actually twice as high as web conversions. Websites inform, but humans close deals. This is a critical distinction for your rental strategy. Staying with the power of the human's ability to use the phone, let's talk about recovering lost opportunities. An abandoned cart online— the online cart, the digital cart sequence— can turn almost all rentals into actual rentals, or almost rentals into actual rentals. So when a customer starts an online rental but doesn't finish, you can make a quick call And that can make all the difference. So if your call center reaches out within 5 minutes, you can recover 20 to 30% of those lost rentals. This proactive approach leverages the human touch to boost your bottom line. We can't and shouldn't let those potential customers slip away. So what's the ideal mix for your rental channels? It's about diversification, not putting all your eggs in one basket. Recommend a balanced approach: 40% online, 40% phone, 20% walk-in. This split provides stability and ensures you're reaching customers through their preferred methods. Balance is key to long-term success here, and this balanced approach helps you maximize every opportunity. So to achieve the ideal split, you need the right tools. Don't try to build everything from scratch. Leverage existing solutions. Example, for website, you might use WordPress with Sitelink or StoreEdge API integrations. Works wonders. For your call center, maybe call center or XPS XPS Solutions. And for a CRM, HubSpot or ActiveCampaign are great choices. I'm not endorsing any of these products. I'm just giving you some real examples of, of existing solutions that work. Using proven tools like these will save you time and money. It's about working smarter, not harder, to optimize your rental process. All right. If you found this information helpful, please like, subscribe, and share. Specifically, share this presentation with anyone who believes online rentals will completely replace phone calls. Because they won't, not for a while. And they'll thank you for that perspective. All right. Next up tomorrow, Day 101, Tenant Insurance Programs. We've covered it briefly already, at least the requirements. But tomorrow we're going to go a little deeper into the programs themselves and how they actually work. All right. I'm still in disbelief. 100 days in and we're still going strong. And remember, the data is clear. You need both phone and online channels, but the mix matters depending on your market. So for market-specific conversion data and channel optimization strategies, join Storage Moguls. You can start for free. Remember that, storagemoguls.ai. And remember, first 500 people get that free GPT tool. I think we still have some left. 6 more episodes to go, folks, and then we're jumping straight into the Boat and RV 100, where we're taking everything we've done here and everything you've learned here, and we're gonna apply it to a Completely different asset class. A lot of crossover, but different. Because remember, folks, self-storage is what brought you here, but it's all about the other verticals and they make it so much more exciting. And they will help you act. It will literally will transform you from someone interested in self-storage who's watching the YouTube 100 series right into you're becoming a storage mogul and your friends will going to start talking about you in high regard. All right. See you tomorrow.
