Prorize and ezStorage Announce Pricing Partnership
The collaboration is driving innovation in self-storage pricing
Prorize and ezStorage today announced the successful deployment of Prorize’s Pricing AI Platform for all 51 ezStorage locations. Since the partnership began in 2018, the new data-driven pricing model has improved ezStorage’s pricing process while driving innovative improvements to Prorize’s award-winning Revenue Management (RM) Platform.
“Technology is enhancing the way pricing is done in our industry. In recent years, we implemented several automated pricing solutions. Ultimately, we chose Prorize as a partner because of their strong analytical capabilities and their openness to new approaches.” said Todd Manganaro, CEO of ezStorage.
“In our industry, there are a lot of variables which influence pricing,” continued Mr. Manganaro. “Timing, seasonality, sales channels, promotions, competitor activity, location, you name it. With Prorize’s help, the pricing process is data-driven, efficient, and effective.”
RM is the discipline that helps businesses consistently find the optimum price for a product or service. It uses advanced algorithms to find this price under any market condition. This consistency is a valuable tool in maintaining long-term revenue growth and enhancing customer satisfaction. First introduced in the airline industry, RM is becoming a sophisticated management discipline across multiple industries.
“Success starts from the top, and we’ve been very impressed by ezStorage’s RM leadership,” said Ahmet Kuyumcu, CEO of Prorize. “Not long ago, the entire industry relied on ‘gut-feel’ pricing decisions. Now, a centralized approach to pricing, supported by science and big data, is the way to go, and ezStorage has been a leader among large operators in adopting this technology. Not only have they embraced our RM program, but they continually challenge us to keep innovating, and this is what makes this collaboration so exciting.”
Prorize is a global leader in revenue management solutions. Winner of the world’s top prize for advanced analytics, the Franz Edelman Award, Prorize’s proprietary software and pricing consultants help clients capture maximum revenue from their assets. Prorize’s data-driven approach focuses on providing value through mutually beneficial transactions and optimum price points allowing for sustainable and profitable growth of the enterprise.
Headquartered in Columbia, Maryland, ezStorage is the largest self storage company in Maryland, Virginia, and Washington DC. ezStorage opened its doors in 1988 with a modest 700 self-storage units and one simple philosophy: customer care. Today they offer over 43,000 self-storage units with more on the way and a philosophy that remains steadfastly the same. More information at http://www.ezstorage.com