Tiered Pricing FAQ

What is Tiered Pricing?

Tiered Pricing allows you to group units into “Good, Better, Best” categories based on attributes, making it easy to charge more for premium options and adjust pricing if a tier sells out. Once you enable Tiered Pricing, tiers will be shown in storEDGE, on your Storable Website, and on your SpareFoot Marketplace listing.

What should I be aware of before enabling Tiered Pricing?

  • Yield Management will be disabled if you use Tiered Pricing.
  • Managed Rates cannot be set through Revenue Management with Tiered Pricing enabled.

  • If you use a 3rd party website provider, reach out to your provider to confirm they support Tiered Pricing prior to configuring it in storEDGE software.

How do I enable and configure Tiered Pricing?

  1. Enable Tiered Pricing at the Corporate level of your software.
  2. Assign units and rates to tiers at the Facility level of your software.

What will my experience in storEDGE be with Tiered Pricing?

Move-in flow

When moving a tenant in or creating a reservation, the move-in screen will show the tiers available for each unit group.

Units Page

Units on the Units page are split out by group and tier. The Tiered Pricing tab includes a Tier column with the tier name.

On the Individual tab, the Rate column includes the tier name.

Unit details

When viewing a unit’s details, you will see the tier name next to the rate.

You can find a log of tier assignments and rate changes for a unit by clicking the Unit History tab.

Example:

Waitlist

You can only add potential tenants to the waitlist for a unit group, not a specific tier. When adding a tenant to the waitlist, you will see the available tiers within the unit group so you can quote potential price levels for the tenant.

Reporting

With Tiered Pricing enabled, facility-level reports will use the Tiered Rates in the Rate column and include a Tier column with the tier name. 

Movement Summary Report example:

What does the customer experience look like with Tiered Pricing?

If you use Storable Websites, tiers will be shown on your website when a customer clicks Reserve, Move-in, etc from the units table. All available tiers will include tier names, prices, and descriptions as set in your Corporate software settings. The Call button will be shown for a tier if the threshold of available units set in your Website Settings is met. 

Example:

 

If you use a 3rd party website provider, reach out to your provider to confirm they support Tiered Pricing prior to configuring it in your storEDGE software.

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