What is Value Pricing?
Value Pricing is a strategy that was first put into wide use by the airline industry. When you are booking a flight, you are typically presented with a few options when it comes to selecting your seat.
Are you looking to fly in style in business class, or does an economy class seat best fit your budget? Maybe you want to split the difference and select an economy + seat with some extra legroom? Value Pricing lets the customer decide which option works best for them!
Implementing Value Pricing on your website is a great way to let customers upsell themselves to a unit type that best fits their needs! Not only is this easier for the customer, but it also an effective tool when it comes to increasing economic occupancy at your facility.
Value Pricing on Your StoragePug Website
When it comes to Value Pricing, StoragePug takes a good, better, best approach. If we use 10x10 units as an example, you can differentiate the 10x10s by amenities or even unit location. And by differentiating the units, you can charge different prices! Let's have a look of how this might appear on your website:
The three different 10x10 unit types are priced accordingly based on ammenties and location, and prospective tenants can also click on the information button to learn more about that unit type offering:
Interested in Setting Up Value Pricing on Your Insights Website?
Our Client Success team would be happy to discuss implementing Value Pricing on your website, so reach out to us at email@example.com to setup some time to chat!
Pug Pro Tip: The Value pricing tool on Insights is best suited for a maximum of three unit types for a given size. You could offer, say, five different unit types of 10x10s, but only three of them will be labeled as good, better, and best.