In digital advertising, a lead typically represents a potential customer who has expressed interest in a product or service.
In the self-storage industry, Adverank defines a converted lead as a reservation that successfully transitions into a rental, as recorded in the facility management software. This means the customer not only showed intent by reserving a unit but followed through by completing the rental process. Since Adverank pulls reservation data from the facility management system through an open API connection, we can track when a lead moves from an initial inquiry to an actual paying tenant.
However, not all reservations convert into rentals. Some potential customers may cancel their reservations or decide on a different storage facility before completing the rental agreement. This is why tracking conversion rates is essential for optimizing advertising efforts. By understanding how many reservations successfully turn into rentals, operators can assess the effectiveness of their marketing strategies, adjust ad spend, and refine their messaging to maximize occupancy and revenue.