If you are marketing senior living communities, you face the unique challenge of finding the right prospects. Each community offers different services, levels of care, contracts, and payment plans. The lifetime value of one of these sales can easily be over a million dollars, so it’s a huge financial decision for the future resident and their families.
Because these communities are so unique, it’s important to realize that not everyone in your target audience will be a good fit. So, the question becomes how do you find the right people?
Data analytics can help you identify the people most likely to respond and be a good fit for your senior living community. This lets you invest your marketing dollars in advertising to the people who are trying to find you.
Here are 5 ways data analytics can help you identify the best prospects:
1. Age
Some communities are tailored for younger seniors while others are designed for older seniors. Additionally, some communities accommodate seniors from independent living through various levels of care. This means your community’s target age may vary from other communities. Instead of mailing out brochures to every household within a certain radius of your community, data analytics can identify the best age bracket for you to target.
2. Income
Senior living communities vary in costs and some can have entrance fees of $500,000 or more. Not everyone within your target age bracket may be able to afford to move into the community. With data analytics, you can identify the people who meet the financial requirements of the community.
3. Customer Profile
Data scientists can analyze your current residents and create a customer profile. This report will highlight your residents’ demographics and lifestyle and behavioral data. Once you know what your current residents look like, you can find prospects who look like them.
4. Lifestyle and Behavioral Data
As stated before, each community is different, and some offer a wide variety of activities for their residents. If your community offers a golf course and yoga classes, data scientists can identify prospects who are interested in those activities. They will review hundreds of lifestyle and behavioral data points to identify those most likely to enjoy your communities’ offerings.
5. Previous Location
Sometimes, residents will move into a community nearby while others may move a great distance to enjoy a community in a better climate. Data analytics can help you identify where your current residents came from and see if there are any trends. Should you be marketing to people out of state?
When you advertise to prospective residents, you don’t have to waste resources by canvasing certain radiuses or zip codes. You can focus your resources on targeting the right people for your senior living community.
Marketing to people on a 1:1 level allows you target those most likely to respond and see which individuals are responding. This information will help you refine your marketing process, so you can continue to improve your results.
If you have questions or would like to see how data analytics can help grow your business, send us an email.