A FIFF behind the scenes look at the 2018 Senior Living Marketing Guide
Several months, hundreds of phone calls, over 200 surveys conducted on the phone and online, layering in insights gleaned from guests on Fresh Insights from Fresh Faces have culminated in the final version of the 2018 Senior Living Marketing Guide.
To learn the specific challenges facing communities on a localized level, but also learning the broad-based challenges the senior living industry faces was an illuminating experience. And this week, we take you behind the scenes of that process, while sharing some insights from the guide.
Joining the FIFF team this week is Brett Benko, one of the team members involved in Linkmedia 360’s blogged content. Brett learned many of the challenges facing senior living sales and marketing professionals first hand when he conducted surveys with communities. The FIFF team shares two takeaways facing all senior living marketers, regardless of the number of locations.
Takeaway #1: Occupancy Rate is the Main Driver of Senior Living Marketing Success
Within page 2 of the 2018 Senior Living Marketing Guide, we share the latest data from the National Investment Center for Senior Housing (NIC). This data tells us that the occupancy rate continues to be flat, and even slightly lower than the same quarter of the previous year.
Sales and marketing leaders working at senior living communities understand there are factors outside the scope of marketing that impact the occupancy rate. Despite this fact, over 70% of survey respondents said that the success or failure of their marketing programs were tied to the occupancy rate. Given that reality for so many senior living marketing teams, our next takeaway ties directly to the occupancy rate.
Takeaway #2: The State of Senior Living Marketing Budgets and Allocations in 2018
In 2018, senior living marketing teams fall into two main buckets: The “Have’s” with increasing marketing budgets, and the “Have Not’s” with flat (and even decreasing) marketing budgets. Here’s where the data on page 3 breaks down within the 2018 Senior Living Marketing Guide, after surveying over 200 of your senior living community peers.
- 15.5% of senior living marketing teams will have a DECREASING marketing budget in 2018 compared to 2017
- 45.2% of senior living marketing teams will have FLAT marketing budgets in 2018 compared to 2017
- 39.4% of senior living marketing teams will have an INCREASE to their marketing budget in 2018 compared to 2017
What does that data tell us? Senior living marketing teams are forced to truly prove out the success of their marketing programs and need to hold every channel they invest in accountable. That’s mainly because these teams are held accountable to the occupancy rate, which we know has outside factors that influences the final breakdown.
What can teams do about flat occupancy and decreasing marketing budgets?
One impactful recommendation Phil has for marketing teams held responsible for proving out occupancy rates with marketing programs is to make the website the center of your marketing strategy. Within the 2018 Senior Living Marketing Guide, the team also covers:
- The four biggest challenges facing over 200 senior living communities in 2018
- 5 tactics senior living communities can use to overcome the top 4 shared challenges to have a winning 2018
Is your senior living community facing occupancy and marketing budget challenges? Download your copy of the 2018 Senior Living Marketing Guide below to learn what tactics your community can take to make an impact and win 2018.
For additional context about the guide, contact Phil and the Fresh Insights from Fresh Faces team. They’ll be happy to help your community win 2018.