These days, the senior living industry is more competitive than ever.. To stand out from the competition, one should consider utilizing data analytics. Analyzing big data can help your community grow faster.

You should not have to guess what your target audience looks like. There are valuable insights available in your CRM that can be analyzed to ensure that you are marketing to the right prospects.

What Is Data Analytics?

Data analytics involves drawing conclusions from datasets by discovering patterns.
At SenioROI, we will work to formulate insights from your CRM data that inform the community to help with decision-making. Companies use data analysis to:

• Understand customers
• Personalize content
• Evaluate marketing campaigns
• Develop products
• Make content strategies
• Boost performance

Communities can look at historical and competitor data to understand what their best prospects look like. Utilizing either first-, second-, or third-party data, SenioROI can determine the best prospects to target.

First-party comes from firsthand data collection, while second-party information arrives from a known organization. Lastly, third-party data includes aggregated information that a company buys from marketplaces.

Benefits of Data Analytics for Your Senior Living Community

Integrating data analytics into your marketing plan can dramatically boost your communities marketing performance.

Efficiency

Data analytics helps you gain insights into the happenings of your community, prospects, and industry. Without these techniques, you will have to rely on guessing who your best prospects are.

Also, manually sorting through sheets of senior prospect lists requires extensive time that you may not have. However, analytics can accelerate this process by creating data visualizations that effectively summarize the information.

From there, you can make quick decisions regarding the latest trends. If you want to monitor your key performance indicators (KPIs) regularly, using data analytics can help you stay on top of your business with ease.

Lower Costs

Financial experts predicted that the digital advertising market would reach $260.36 billion by 2020, which displayed a 69% increase over the 2015 market size.

Since more people than ever use digital marketing, it is imperative that a company cut down on costs for an effective advertising campaign.

The same applies to direct mail. The cost of postage has seen double digit increases in the last 2 years. Pandemic related shortages to paper and logistics have caused the cost of direct mail to increase as well. However, direct mail is a major component of senior living marketing.

By using data analytics, you can develop an optimized strategy that lets you invest in marketing to the right prospects. You can save money by focusing on fewer, but higher valued prospects.

Also, you would divert money spent on manual data analysis to other parts of the business, which can reduce overhead costs and maximize your ROI.

Improved Performance and Management

Data analytics can help you attract better prospects. It can give you insights into the types of prospects that are considering your senior living community.

You could have senior lists about every citizen in the county. However, someone who better understands what people researching senior living centers look like will have the upper hand, even if their services do not exceed yours.

Stronger Advertising Campaigns

Most advertisements get A/B tested, including pop-ups, landing pages, product images, and more. During these tests, the company determines the ad’s effectiveness and adjusts it to maximize the click-through rate.

Even offline advertisements require extensive testing to see if they will generate customers. You want to spend your money where it will count, and data analytics can help you determine the best places to advertise with ease.

How SenioROI Can Help You

SenioROI provides targeted marketing to help you maximize your senior living communities marketing.

The Cleanse, Append and Profile(CAP) is the tool that SenioROI has developed to analyze your CRM data. We start by cleansing your CRM with our proprietary cleansing process. This process identifies records that are not marketable, therefore reducing waste in your direct mail campaigns. The cleanse also has the ability to find missing addresses, giving you additional touch points to CRM records that you haven’t previously been able to reach.

Once we have clean data, SenioROI analysts append missing and key demographics. SenioROI uses 28 demographics to craft their profiles so that you market only to potential customers. This information is provided back to you so you have a better understanding of the prospects you are talking to.

Next comes the Profile. Here we look at who your best prospects are and what they look like. Age, financials, marital status are just a few of the elements we look at when identifying your best prospects. We use the insights learned from the profile to purchase a new prospect list. One that looks like your best prospects.

Lastly, we strive to connect your offline and online data. Modern audiences switch between multiple devices constantly, such as their smartphones, televisions, and computers. Also, they take in offline advertising like pamphlets, billboards, mail, and flyers frequently.

If you match your potential customer’s email and postal information to their digital presence, you can ensure that they see your campaigns everywhere they go. That way, they are more likely to engage with your company as they have frequent exposure to it.

Conclusion

Data analytics provides a comprehensive overview of your company’s performance. If you want to maximize your outreach, you should implement data analysis techniques.

These strategies can reduce costs, optimize performance, and help support marketing campaigns. You need to use data analytics to stay competitive among other senior service providers.

Contact SenioROI today to help you market and grow your community!