SENIOR LIVING BLOG

0

Who Wouldn’t Love a Versatile, User-Friendly Events and Marketing Portal?

Even if seminars are already a part of your business growth strategy, you may wonder what makes one events and marketing portal different from another.

Our industry-leading product, ProspectConnect, is unlike any other RSVP system.

That’s because when we created it, we drew upon 25 years of seminar and responder data.  No other seminar company has this depth and breadth of experience.

We also listened to feedback and weighed suggestions from clients using our previous RSVP system.

As a result, our events and marketing portal allows you to easily view seminar and workshop details, no matter how many seminars you’re managing at any given time.

Clients tell us ProspectConnect is a invaluable tool throughout the event life cycle.

Events and marketing portal

A digital hub from which you can view, analyze and act on demographic information about your prospects and attendees – and much more – ProspectConnect lets you access responder data at your convenience, with just a few mouse clicks.

Its features include:

  • Real-time notifications of your event responders
  • Data storage from all events for reports and reference
  • Instant access to responders’ income and IPA ranges
  • Zillow Zestimates of their residences
  • Clickable Google icon with event directions you can cut and paste to easily email to your responders

Product updates

As a result of recent upgrades, ProspectConnect is simpler to navigate than ever.

And it now generates text message reminders sent to registrants three days before the seminar and the day of the seminar.

Your customers must opt in to receive these messages, and they can opt out at any time.

Even more enhancements to our events and marketing portal are scheduled for 2020.

Interested in learning how ProspectConnect works with seminars and workshops and schedule a demo, or learn how others are growing their businesses using seminars?

Call us at 1-888-409-1354 or email us at marketinginfo@leadingresponse.com.

 

0

Solutions to Five Major Lead Generation Challenges In the Senior Living Market

A growing number of senior living professionals are dealing with lead generation challenges as a result of historically low occupancy rates.

Not only are existing communities making improvements to stand out from their competitors, newcomers are entering the senior living space.

For example, as Senior Housing News reports, Atlanta-based and privately-held Sterling Estates is building expansive communities focusing on wellness.

Though Sterling’s owner, Mike Brown, has been in the business for decades, this new, high-end business model has been particularly successful.

A very crowded market

Indeed, the senior consumer is changing. The ad campaigns that appealed to their parents will not interest them.

In a prior blog, we identified five major lead generation challenges in this market, based on research we conducted. They were:

1. Too many unqualified leads

2. High percentage of shared leads

3. Too few highly qualified leads

4. Difficulty getting face time with leads

5. High overall Cost Per Acquisition (leads, tours, move-ins)

Now, we’d like to share with you how to tackle all five of these senior living lead generation issues with a single solution.

It’s off-site educational relationship building events.

Over the years, LeadingResponse has developed and fine-tuned the educational seminar model using input from interviews, surveys, and the monitoring of results from large data sets.

Since 1995, we’ve promoted one million seminars for clients, averaging 3,000 seminars monthly, nationwide.

We generate five million print pieces a month to consumers 55 and up, so we understand what they will respond to.

Here’s how seminars will stimulate customer growth.

Audience hyper-targeting

If you’re only using age, income and proximity to your community to target leads, that’s not enough.

You must capture the behavior of the consumers you’re trying to reach.

With data from LeadingResponse, you’ll get financially-qualified people who are actively exploring their senior living options.

Leads exclusive to you

The leads we produce from a seminar belong to you, the client.

We do not share them with other senior living communities, unlike lead aggregation listing services.

Therefore, operators don’t have to pay for leads that are also being pursued by your competitors.

Identifying viable leads

Each off-site educational seminar consists of two event dates, giving the consumer the option to choose what date works best for them. Typically, these seminars add 100 highly-qualified prospects to the sales pipeline.

We know that events held at a senior living community draw far fewer qualified leads than those held off-site, at a neutral location where psychological barriers are low.

Seminars allow you to concentrate on turning prospects who are financially qualified and ready to engage, into new customers.

Meeting face to face

Experience has shown us if you use only digital advertising, you will generally see lower attendance and conversion rates.

This is because there is no personal connection to you, the senior living provider.

And even if you host a discussion, a wine and cheese gathering or even a luau at your community, many qualified prospects will stay away.

However, some of them will attend an educational seminar in a neutral location, such as a nice familiar neighborhood restaurant, where they will be surrounded by other people in a similar life situation.

In this relaxed atmosphere, they will be more receptive to your presentation about what your community has to offer them.

Cost per acquisition (CPA)

Leads, tours and move-ins add up fast.

Did you know LeadingResponse events will cut these expenses by two-thirds?

That’s right! Our proven solutions will significantly reduce your CPA, at one-third the average industry costs.

Before you view chart below, keep the following in mind:

  • In the world of direct mail, a response greater than 1% is considered successful
  • Our average response rate is 2.3%

In addition, our average attendance rate is 93%.

LeadingResponse Senior Living Direct Mail Response Rates

 

 

 

 

 

 

 

 

*Assuming $3,600 per month for 22 months

 

Senior living lead generation needs to change

In summary, senior living operators need to shake things up if they are going to attract the current generation of pre-retirees and retirees.

Occupancy is flat, the result of new communities being built and older ones transforming themselves to offer the amenities this demographic demands.

Digital advertising alone cannot establish the personal connection members of this group are seeking. It is still about building a relationship, providing education, and becoming that trusted advocate.

To make a strong impression, you must use the right approach. You must meet them face to face.

This is how you develop a rapport and establish a relationship with prospective residents – by giving them valuable information and insights.

And that, in turn, builds trust.

Even a modest investment in educational face-to-face seminars can generate better leads, better prospects, higher conversion rates; and increase move-ins.

When it comes to senior living lead generation, you’ll lead the pack.

 

Want to be notified when we post an article? Sign up at the bottom of our homepage.

If you would like to learn more about our senior living marketing solutions, click here.

 

 

 

 

0

Five Major Lead Generation Challenges Senior Living Professionals Face Today

Because of historically low occupancy rates, a growing number of senior living professionals are dealing with lead generation challenges.

Not only are existing communities making improvements to stand out from their competitors, such as upgrading technology as HealthTech reports, newcomers are entering the senior living market.

Therefore, if you follow the old playbook, expect the same old results.

This generation of prospective residents won’t respond to promotions incorporating traditional lead gen strategies such as print and digital advertising and third-party aggregators.

Today’s retirees and pre-retirees are better educated and more sophisticated than their moms and dads were.

Plus, they have a wider variety of senior living options than their parents ever did.

The data tells the story

Over the years, LeadingResponse has collected a wealth of intelligence from interactions with senior living operators, prospective residents, and family members.

It includes 55+ Active Adult, Life Plan or Continuing Care Retirement Communities (CCRC); and Independent, Assisted Living, and Memory Care communities.

With it, we’ve developed a dynamic lead generation model used by senior living operators to grow their market share.

Based on our research, there are five major lead generation challenges in this market:

1. Too many unqualified leads.

Many list brokers offer bulk savings for lists with little to no demographic targeting. If you are only utilizing basic demographics you need to incorporate specialty data, such as ailment and familial connections.

You can expect a 75% increase in your response rate with the implementation of these hyper targeted efforts. Don’t forget to include consumer behavior data as well, such as when your audience is most likely to attend (day, time, location).

2. High percentage of shared leads.

This is often due to heavy reliance on digital aggregators and local referral lead sources that are a free service to the consumer and charge the community a percentage of the first month’s rent and services.

Generating your own leads by providing the target audience with an opportunity to build a relationship with your brand and community team will yield a stronger inquiry to move in conversion.

You are providing the consumer with education they need and, in the process, gaining trust. Not to mention it will decrease your cost per lead, tour, and move in.

3. Too few highly qualified leads.

Sales counselors spend too much time working leads that go nowhere.

Providing sales counselors with leads that have already been qualified based on their demographics and are attending educational seminars led by the community team, is a great way to improve conversions.

4. Difficulty getting face time with leads.

Many highly qualified prospects don’t want to meet one-on-one with sales counselors onsite. It is anxiety provoking, among other psychological barriers.

People appreciate safety in numbers and the neutral setting of a face-to-face educational seminar.

Think about it as a first date – would you want to go to the other person’s house for dinner on the first date?

5. High overall CPA (leads, tours, move-ins).

Excessive cost per acquisition leads to an unsatisfactory return on investment.

By incorporating consumer behavior data along with hyper-targeted efforts, marketers can bring down their CPA, while increasing their conversions and overall ROI.

In fact, senior living providers that have been successful doing so, no longer work with those digital aggregators and local lead referrals, whose fees of the first month’s rent and services are very high.

Competition for residents is only going to grow over time. It will be driven not just by flat occupancy, but also innovation.

New communities will offer amenities attractive to those researching senior living opportunities.

A new day, a new way

Now more than ever, senior living professionals have to get creative to engage the current generation of prospective clients.

This will help you reduce lead generation challenges and meet your growth goals in an increasingly crowded market.

Neither digital advertising nor expensive, non-exclusive leads from third-party aggregators will generate the numbers of qualified prospects you need to reach your occupancy goals.

So, do away with tactics that worked with the previous generation.

Recognize the consumer has changed and has been changing for the last several years.

 

Want to be notified when we post future blogs? Sign up at the bottom of our homepage.

And if you would like to learn more about our senior living marketing solutions, click here.

 

 

 

0

The Middle-Income Senior Population Is Going to Reshape the Housing Market

With over 10,000 people turning 65 every day, America is aging fast.

Shifting demographics are also changing the face of who we are.

These include race and ethnicity, lower marriage rates, fewer children, significant health issues, and less access to caregivers.

As a result, more people will move to independent communities, assisted living facilities and nursing homes.

This will expand business opportunities for investors, developers, and operators.

Seniors feel the squeeze

A recent study, The Forgotten Middleexplored the availability of housing specifically for the middle-income senior market.

The research was conducted by the NORC at the University of Chicago and funded by the National Investment Center for Seniors Housing & Care (NIC).

Study participants included healthcare workers, teachers, government workers and trade union members.

These folks had enough assets to disqualify them from receiving assistance through programs such as Medicaid. However, they could not afford most private care facilities.

By 2029, over half of the 14.4 million middle-income seniors in the U.S. won’t be able to pay the $60,000 estimated average yearly cost of assisted living rent and out-of-pocket medical expenses.

And that number is conservative.

A plea to the industry

The authors of The Forgotten Middle hope the study serves as a wake-up call to both the public and private sectors.

They believe senior living officials have an obligation to make their properties more inclusive and appealing to a diverse population.

Over 65% of the participants in the study are expected to have three or more chronic health conditions in 2029.

In addition, about 20% will be classified as having high needs, or three or more chronic conditions and at least one limitation affecting their ability to carry out activities of daily life, such as walking and dressing.

Without industry buy-in, middle-income seniors could struggle to afford places able to accommodate their needs.

Delivering solutions

As a national provider of lead generation services for the senior living industry, LeadingResponse understands both sides of the issue.

On one hand, the company’s restaurant dinner seminars and workshops help owners and providers lower their cost per acquisition (CPA) to less than half the industry average, according to Valerie Whitman, Vice President of Senior Living for LeadingResponse.

“Our clients achieve an average 8% to 10% inquiry to move-in conversion rate from face-to-face seminars,” she said.

On the other hand, and equally important, LeadingResponse clients are educating the public.

“Prospects are receiving this much-needed information in a neutral group setting with others in a similar life situation,” Whitman said, adding: “There are very real psychological barriers among prospects, that providers need to be aware of and cater to.”

The future is coming

To summarize, an aging population and demographic shifts will significantly impact the senior living market over the next 10 years.

These changes will expand the pool of middle-income consumers looking for affordable housing and care options.

This cohort has financial resources preventing them from receiving government assistance, but cannot afford much of the available private care, either.

Senior housing owners, operators and developers will be in a position to address the diverse needs of this growing market.

We can help 

Every day, Baby Boomers are searching for senior living and care options, either for themselves or elderly family members.

LeadingResponse has exclusive lead generation programs targeting the right prospects for your community at the right time, as well as turnkey seminar and workshop presentations providing attendees with important information and highlighting your value proposition.

To learn more, contact us today.

Pay Less to Find a Place for Mom With A Senior Care Referral Service

Did your senior care referral service recently raise prices? You’re not the only one. Senior living care providers recently saw rates increase by 10% for communities and as much as 400% for in-home care providers. But as baby boomers retire, the senior care referral service market’s growing—so why are leads getting more expensive?

Answer: They aren’t. (more…)

Start typing and press Enter to search