Nov 5, 2024
Senior Living Marketing Calculator
Read Time: 3 min
Developing a plan to achieve optimal occupancy in senior living communities is challenging, given the unique factors influencing demand, occupancy, and attrition. To help streamline this process, Senior Living CMO has created the Senior Living Marketing Calculator.
If you’re ready to dive in, click here to access the calculator. Otherwise, read on to discover how this tool can bring clarity to your strategic planning and drive better marketing outcomes.
Why Use a Senior Living Marketing Calculator?
Senior living communities operate within a complex sales and marketing environment where metrics like inquiry-to-tour ratio, tour-to-move-in ratio, and monthly attrition play a vital role. Estimating these numbers manually can be both time-consuming and prone to error. Here’s where our calculator comes in to determine the precise number of leads, tours, and move-ins needed to meet your occupancy goals, as well as the estimated marketing investment required to get there.
How to Use the Senior Living Marketing Calculator
1. Select Your Community Type
Choose from four community types: Active Adult, Independent Living, Assisted Living, or Memory Care. Your selection auto-fills the industry average for attrition and conversion rates, which you can adjust to match your unique data.
2. Input Your Data
Community Data:
Total Units: Your total inventory of rentable units.
Current Occupancy: Your present occupancy percentage
Target Occupancy: Your goal occupancy percentage.
Time Frame: Your timeframe (in months) to reach this target.
Performance Data:
Attrition Rate: Monthly resident turnover percentage
Lead-to-Tour Ratio: Percentage of qualified inquiries that result in tours (in-person or virtual).
Tour-to-Move-In Ratio: Percentage of tours that convert to move-ins.
Marketing Budget Range: Minimum and maximum cost-per-lead targets
3. Calculate Results
Click the Calculate button, and the tool instantly generates results, showing the number of leads, tours, move-ins, and budget needed to meet your occupancy target.
4. Analyze and Apply
Use these insights to guide your marketing and sales strategies. You can adjust inputs to test different scenarios or targets—just be sure to recalculate each time.
Important Considerations
While the tool auto-populates industry-average metrics from respected sources like NIC and Argentum, we strongly recommend that you enter your community-specific data. If you don't have exact figures, start with your best estimates, but tracking and refining these numbers should be a priority. Remember, perfection isn’t the goal—having realistic, relevant benchmarks is.
Ready to Try the Calculator?
Senior Living CMO's Senior Living Marketing Calculator is a powerful addition to your toolkit, providing a clear, data-driven foundation for marketing decisions. Use it regularly to stay agile, adjusting your strategy as occupancy targets and market conditions evolve. Bookmark it, share it with your team, and make it part of your planning process.