Data from 2,200 Senior Living Communities Illustrate Effects of the Pandemic on Sales and Marketing
The senior living industry continues to adjust rapidly due to the COVID-19 pandemic to protect the health and safety of community residents and staff. Again, through the month of July, many communities are adjusting sales and marketing tactics in an effort to improve effectiveness during this time. It is critical to track key performance metrics to objectively evaluate all new investments being made. Enquire has compiled industry benchmarks from thousands of senior living communities offering independent living, assisted living, memory care and life plan (CCRC) residential options in the July 2020 COVID-19 Statistics report below.
These dramatic shifts in the senior living sales and marketing process place an even greater emphasis on making smart business decisions. While there is an abundance of opinion available, it is imperative to utilize data when making decisions and allocating investments, especially with the additional pressure of the current COVID-19 environment.
Enquire has aggregated sales and marketing data from senior living communities offering independent living only, independent and assisted living, assisted living, assisted living and memory care and also stand-alone memory care communities to serve as your guide. In this report, 2020 averages for specific metrics by care level, state and region as well as year-to-date metrics were compared to the same period in 2019. This data was also narrowed to the just-completed month of July and analyzed against the same data points from July 2019. The report focuses on the average inquiry, tour and move in volume month-over-month per community and compares 2019 trends to 2020. Additionally, the report looks at other key sales and marketing metrics such as web forms from internet inquiries, home visits, call outs, referrals and move outs that are critical to senior living sales and marketing success.
Also, in the July 2020 Senior Living COVID-19 Statistics report Enquire evaluated independent, assisted living and memory care rental communities in 2020 that utilize a contact center for inquiry support and those that do not. Enquire also compared these trends to last years’ trends. In 2019, the average monthly inquiries received for contact center supported communities was 20% higher than those that do not utilize contact center support.
These data points will provide owners, operators and the investment community insight into what a recovery will look like and how the effects on changing operations, consumer confidence and financial outlook will impact move ins, move outs and overall occupancy trends. To understand current sales and marketing performance, an organization’s 2019 and 2020 year-to-date data should be reviewed and evaluated against the senior living industry benchmarks contained within the report.
An excerpt of the July 2020 aggregated sales and marketing data from over 2,200 senior living communities is below, and the full report can be downloaded for deeper analysis.
July Senior Living COVID-19 Statistics:
- July inquiries for senior living on average were 12% higher than June inquiries.
- July inquiries for senior living on average were 53% higher than April inquiries.
- July move outs in comparison to the prior year are on average 24% lower.
- Move in averages increased just over 54% from April of this year to July of this year.
This report will be updated monthly as Enquire continues to aggregate critical data to inform senior living sales and marketing teams. Click to download all of the senior living COVID-19 statistics to understand the effects of the pandemic on sales and marketing teams through July 2020.