Press Release: New G5 Report Highlights Importance of Performance-Driven Marketing to Bring More Certainty to Senior Living
G5 data reveals 33% of senior living prospects engage with digital ads along their journey
BEND, Ore. – May 13, 2020 – G5, the leader in digital marketing optimization, has released its State of Digital Marketing Report outlining market conditions affecting senior living for the first half of 2020, including occupancy levels and the coronavirus (COVID-19). The comprehensive report also reveals 33% of senior living prospects engage with digital ads along their journey, highlighting the importance of performance-driven marketing to bring more certainty to senior living, provide spend transparency, and drive ROI.
“The market is uncertain right now and senior living operators work around-the-clock to do what it takes to preserve quality of life for residents and the staff who serve them,” said Jamison Gosselin, Vice President of Senior Living, G5. “As priorities shift, now is the time to lean on smarter marketing technology and data-driven insights to automate decisions. Every finite dollar operators spend today needs to transparently drive more move-ins in the months ahead. Now’s the time to make your marketing more certain.”
- Top challenges facing senior living: In addition to COVID-19, occupancy levels, decreased marketing budgets, and staffing and recruiting issues have shifted the priorities for senior living marketers.
- COVID-19’s economic and market impact: As a result of the pandemic, move-ins decreased, move-outs accelerated slightly, and occupancy declined. COVID-19 is expected to have both short and long-term effects on the senior living business. (Source: NIC Executive Survey Insights)
- G5 data reveals national search behavior for senior living: 16.7 is the average number of days from the first interaction with a brand to inquiry; 33% engage with digital ads along their journey; and 39% use organic search to refind a property after their first website visit.
- Digital marketing KPIs signal market-specific shifts in leasing season: G5 analyzed four KPIs across three major metros (Chicago, Dallas, and Phoenix) to understand different aspects of the senior living buyer’s online journey. Multi-touch attribution (MTA) conversion data signals market-specific shifts in leasing season trends in these metros. The report reveals when prospects are actively reaching out to communities, so marketers can align digital advertising spend to time periods when it will have the greatest impact.
How Digital Marketing Can Help:
In uncertain times, it is essential for senior living operators to monitor the rapidly changing economic conditions and understand the important role marketing plays in overcoming challenges.
- Marketing during COVID-19: Use corporate and/or community websites as a communications hub. In addition, use video and other creative content to communicate critical information to residents and their families, while also building brand trust and lead generation. Messaging should provide reassurance, clarity, and empathy.
- Maximize your digital marketing: Use predictive marketing, automation, and data science to identify the highest performing messages and channels, then optimize to attract the right individuals in order to deliver better leads at a lower cost.
- Shift away from manual ad campaign planning: Emerging technology, found in G5 Smart Digital Advertising, uses advanced attribution models and automation to capture conversion insights and then automatically modify campaigns nightly to maximize advertising spend.
- Use digital advertising for recruitment efforts: Digital advertising can also be used by Human Resources and Marketing teams to promote job openings. While many industries are laying off employees, senior living communities have a growing need. Optimize digital presence to appeal to employment prospects and attract the many qualified applicants seeking work.
“As evidenced in this report, G5 has built a team that is steeped in senior living industry knowledge, making them uniquely positioned to advise us on our digital marketing strategies,” said Pat Cokingtin, Senior Vice President of Sales and Marketing, Americare Senior Living. “Their responsiveness to us as a client during the COVID-19 crisis has been exemplary. They expedited our requests for customized messaging on our websites and have helped us stay connected with colleagues to share best practices.”
As the leader in digital marketing optimization, G5 turns marketing into move-ins for senior living communities. Through its scalable lead generation strategies, emerging technologies, and AI-based solutions, G5 delivers higher quality leads and better ROI. Founded in 2005, G5 currently provides marketing solutions for more than 8,000 properties and two million units throughout the U.S. and Canada. Based in Bend, Ore., G5 is backed by private equity investor PeakEquity Partners. Learn more at GetG5.com.
Natalie Dent / PR & Corporate Communications Manager