eKourier Oct 2014

FEATURES Data Dive - how long do our customers stay? What are they worth? T ypically a customer moves into storage expecting to stay for a reasonably short period of time. We all know the reality is they almost always overstay, many by some months. insight into the value of a typical customer. A helpful reminder of their importance. Obviously, the age of the property will greatly influence the results. The average unit size rented for KSS is rented for $279 per month which means the median value of a customer is $5,022.

Analysis of length of stay can be done in two ways. Firstly, there is the average length of stay of all existing customers (exclude past customers). Secondary, an alternative measure is the median length of stay. Median is the middle of the group by number and can be helpful if outlying data distorts the average. The current average length of stay of all current KSS customers is 36 months. While the median is much lower at 18 months.

This is a significant amount and reminds us of the importance of our sales and follow-up performance. For KSS as a group every potential customer contact is a doorway to $5,022 of revenue over the duration of their stay. You can see the state by state breakdown in the table. Sam Kennard Managing Director

In the past we have looked at the length of stay of all ex-customers, (Those that have moved-out). On this occasion, lets look at our current in-place customers. Both data sets have imperfections but neither is wrong.

Recent analysis of the length of stay of all our existing customers offers a powerful

Length of Stay and Customer Value (existing customers)

Customer Feedback North Lakes “I just wanted to thank you for the excellent service and co-operation that you provided for us during the period that our personal effects and furniture was stored at the Kennards Self Storage facility in North Lakes - Queensland. In addition, your co-operation and assistance when we eventu- ally needed to pack our possessions into a container for onward shipment was fantastic and very much appreciated. The packing of the container was smooth and without incident, similar to what we experienced when Kennards took over the Self Storage facility in North Lakes from the previous owners earlier this year. It was a smooth transition that could not have

been any better. Overall we were very impressed with every part of the service and the facility in North Lakes. We would have no hesitation in recommending both Glen D'Souza and the Kennards Self Storage facility in North Lakes to anyone that required these services.” Maroochydore “Just a quick email to thank you gentleman for your first class service at Kennards Storage Maroochydore. From the first contact via phone till the final invoice on leaving, the service was amazing, friendly, informative and efficient.

From our experience the storage was immaculate on all levels. We wouldn’t hesitate to recommend to other clients.”

7 Kennards Kourier October 2014