Senior living communities are a broad category of facilities that provide a range of housing and independent living services and treatment to the elderly (usually those aged 55 and up).
Importance of Senior Living Communities
- Age 65 and older will grow from around 13% in 2010 to over 20% by 2030
- 15% of 85+ year old live in senior living communities
- The average resident in assisted living is 87 years old male and female
- The United States home care market is expected to grow from $100 billion in 2016 to $225 billion by 2024
- Senior citizens population in the US: 49.2 million
- Demand for a senior living has increased approximately 3% yearly
- Approximately ½ of senior living residents experience major symptoms of depression
Main regulations currently governing in senior living communities
- Affordable Care Act (ACA)
- Home- and Community-Based Services (HCBS)Waivers
- Americans with Disabilities Act (ADA)
- Medical Expense Deduction Extension (tax reform)
- Older Americans Act (OAA)
Independent living vs Senior living
Cost: Month $2.8K
Assisted living communities
Cost: Month $3.6K
5 Senior Living Marketing Trends to Watch
- Consistency is key
- Timely fulfillment and follow up on lead requests
- Optimize your website. Watching online reputation.
- Analyzing what is driving business
- Being open to a new idea
Senior Living and Senior Care Shoppers Often Begin Their Journey Online
- Search engines are used by 75% of senior living customers to find options.
- When searching for a nursing home, 83% of people did not have a specific provider in mind.
- The number of senior citizens looking for “senior living” has increased by 15% in the last year.
- Every hour, 6,000 online searches for senior care are conducted in the United States.
- The website is the most powerful outlet for 68 percent of senior living marketers.
- A senior living lead costs on average $431.
- Senior living leads have a 30% conversion rate, and advertisers invest upwards of $400 per lead.
Consumer Journey Is Growing Increasingly Fragmented
- An independent living resident’s average sales period is 120 days.
- After two years of searching, 47% of independent living residents find a place to live.
- Converting senior living customers takes an average of 25 touches.
- Senior living web leads have a conversion rate of just 23% on average.