While there’s still a third of the year let to unfold, many of 2019’s senior housing trends have begun to take shape and could have an impact on how industry pros market and sell to prospects in the coming years.
This month, we look back at some of the most notable industry trends we’ve covered this year, as well as the implications they’re expected to have on your business.
1. Putting Customers First: Journey Mapping Leads 2019’s Trends So Far
Unlike the sales funnel, the journey map approach to marketing acknowledges that the sales cycle is almost never a linear one. At each stage of the journey, it’s best to take a customer-centric marketing approach by ensuring your business is truly focused on your customer’s needs rather than your own.
Discover tips for adopting a customer-first mindset in this article from Entrepreneur.
Wondering how you can apply the customer journey map when marketing your community? Find out more in our video below:
2. Creating Brands That Cater to Multiple Segments
The problem with businesses only catering to specific market segments is that their brand is only being exposed to some of their potential customers. But some senior living developers are taking a page from the hospitality industry and adopting a multi-brand strategy to increase revenue by catering to various markets.
Find out what industry experts have to say about this increasingly popular approach in this Senior Housing News article.
3. Senior Housing Trends Towards Keeping It Simple with Modular Homes
Don’t be surprised to see senior living developers forgoing two- and three-bedroom luxury apartments to build communities of modular homes instead. Modular homes provide a more compact, accessible and high-tech alternative to standard seniors living homes and can be built in just a matter of days at a fraction of the cost.
Find out whether experts think this trend will rise in the coming years in this NPR interview.
4. Going Old-Fashioned with Direct Mail
Eighty percent of Baby Boomers go online every day, meaning the majority of the your target market is being inundated with digital advertising throughout the day. Occasionally going the old-fashioned route and sending a direct mail piece — especially to promote events — can help you stand out.
Find out more from Senior Market Advisors.
5. Navigating Affordable Housing Shortage
The “silver tsunami” is on its way, but is the senior housing industry ready for the coming storm? The combination of a rapidly aging population, rising operational costs and frozen federal subsidies will ensure the needs for affordable senior housing. The only question is whether the supply will be there.
Find out more in this Boston Globe article.
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