Every brand is unique, and therefore, the marketing strategy for each brand should also be distinct. Here are 13 golden rules that can help any senior living company supercharge their marketing efforts. Assuming you have already conducted market research and hired a research firm,
1) Product Differentiation: In marketing, everything starts with a "why": Why should seniors choose your property/project over other service providers' projects?
If your business can answer this question effectively, half of the battle is won. Just like Phil Knight believed in the product and potential of "Nike" shoes for running, as a business owner, you should also have clarity on why seniors should choose your senior living over others. Let's take an example from the cement industry where everyone sells the same product, cement, but each brand has a different USP:
Ambuja Cement: Giant Compressive Strength, Quality-based USP
Bangur Cement: Sasta Nahi, Sabsa Aacha, Price-based USP
UltraTech Cement: The Engineer's Choice, Quality-based differentiation
Other examples of product differentiation include:
RedBull: RedBull gives you wings
In the Senior Living space, certain companies have successfully created differentiation for their senior living brands:
Ashiana Senior Living: Offers senior living to middle-income people of Tier 1 cities at a reasonable price.
Antara Senior Living: Luxury Senior Living
When planning to launch a senior living project, it is essential to have a crystal-clear value proposition and unique selling points (USP). Without a clear vision of your value proposition, you risk blending into a sea of sameness, where most advertisements simply show a happy senior without any unique differentiation.
2) Create content around the differentiation and product's value proposition: To charge a premium to the buyer (senior in our case), the product's communication should exude a sense of premium quality. This premium feel should also extend to the site visit experience, ensuring consistency with the conveyed value proposition.
For example:
Ginger Hotel: Emphasizes low cost and self-service
Marriott Hotel: Offers high-end luxury with an upscale experience
3) Adopt a 360-degree approach: Google uses the phrase "Moments that matter," and Facebook refers to the "Full funnel approach."
When creating content, remember that seniors have more time and interest to engage. Avoid the mistake of releasing only a couple of great pieces of content, especially if you are a new brand. Instead, establish a content calendar with at least 6 months' worth of content prepared before launch. Consistently interact with seniors using similar pieces of content over several months to keep their interest piqued.
In today's world, seniors conduct 70-80% of their research before reaching out to sales executives. They thoroughly investigate brands, offerings, and competitors.
4) Create content for every stage of the customer journey: Don't limit yourself to lead ads. Take a broader view and develop content that caters to each stage of the customer journey, including awareness, consideration, and decision-making.
Many new senior living companies make the mistake of focusing solely on lead ads and later realize it's not yielding conversions. By then, they may have wasted significant time and money. Develop a content strategy for every step of the customer journey, even after lead generation, to maximize engagement and conversion opportunities.
Awareness/Lead Generation
Show a great lifestyle
Show companionship
Show activities/parties
Show residents at café etc
Brand
About Brand Corporate video
Why should a senior consider your project
Attention to the details in project
Employee video like cook, guard etc
Behavioral
Ageless Adventurers
Future Fearers
Community Caretakers
Youth Chasers
Health Conscious
USP’s
Less pollution
Less traffic
Open and green area
Themed gardens
1000+ Trees
40+ Outdoor Amenities
Club houses
Objection Handling
Price
Relocation
Facilities
Location
Based on sales representatives' feedback
Content strategy across various touch points
5) Slow vs Turbocharged Approach: Many new senior living companies often adopt a narrow perspective, solely focusing on costs. They may think, "If I generate Rs. 500,000 profit per unit and my marketing cost exceeds Rs. 200,000, it's not feasible." However, the answer is not so straightforward.
This is especially true for senior living options on rental basis, where businesses consider revenue as Rs. 50,000 (monthly rent) and cost of acquisition as Rs. 200,000 during the initial months. Such a myopic view disregards the lifetime value of the customer and the security deposit seniors provide. As a result, they may fall for Approach 1: the slower growth model, as explained below.
There are two approaches to consider:
Approach 1: The Slower Approach In this approach, advertising is reduced, and the focus shifts to below-the-line (BTL) activities. Over time, word-of-mouth marketing spreads, and occupancy increases. However, the overall operational cost of the project remains high because all facilities must be operational to provide a pleasant stay and encourage word-of-mouth referrals. It is crucial for businesses to understand the operating cost associated with senior living projects. A narrow focus solely on profit and marketing cost is insufficient; equilibrium is necessary.
Approach 2: Turbocharge Senior Living Marketing Activity In this approach, the initial cost of acquisition may be higher. Looking at it from a monthly or yearly basis may show initial losses (running in the "Red"). However, from an overall optimization perspective, investing more in senior living marketing proves to be cost-effective. As word of mouth spreads faster, the operational cost decreases, and the break-even point can be reached sooner.
6) Focus on Pull Marketing Strategy (Content Marketing): Emphasize pull marketing channels like blog writing, PR, social media, white papers, videos, etc. Although it may not yield immediate ROI in the short run, pull marketing creates brand affinity, generates free leads, and improves conversion rates over a long term.
Examples of pull marketing include:
- GoPro: Leveraging user-generated content to showcase exhilarating action footage captured with their cameras. Their campaigns inspire adventure enthusiasts to share their thrilling experiences with GoPro.
- Red Bull: Associating the brand with extreme sports and high-energy lifestyles through events, content, and sponsorships, creating an aspirational image that appeals to their target audience.
7) Gorilla Marketing: Here are a few examples of excellent guerilla marketing strategies that can be used to engage the target audience in a unique and memorable way:
a. Park Takeover: Organize a park takeover event where the senior living community sets up temporary facilities like activity stations, music corners, and relaxation spots within the park. This allows seniors to experience a taste of the vibrant lifestyle offered by the senior living project while enjoying the outdoor ambiance.
b. Seniors' Bench: Place creatively designed benches in public spaces frequented by seniors, such as parks or shopping areas. The benches could carry messages like "Get Ready for the 2nd Innings" or "The new beginning" or the differentiation strategy and communication finalized during the initial phase.
c. Artistic Transformations: Take an old, worn-out structure like a bus stop or a wall and transform it into an eye-catching art piece. Use vibrant colors and graphics to showcase the excitement and opportunities that await seniors in the senior living project.
d. Flash Mob Events: Organize surprise flash mob performances at places where seniors often gather, like community centers or public squares. The flash mob could showcase seniors joyfully engaging in various activities, promoting the idea of an active and fulfilling life in the senior living community.
e. Hacking the matrimonial section with cleverly placed ads These are just some of the examples, to get more eyeballs in the otherwise crowded market.
Ready to find out more?
Connect with us for free consultation!
8) Think beyond Meta (Facebook) and Google ads: These are super relevant but everyone is doing it, you have to look beyond just these 2 mediums. Check for competitors using tools like similarweb, it will show the traffic sources of your competitors, use the data to create a marketing strategy, you may also look at data of similar companies like Saregama Carvaan, seniorworld, insurance companies selling to seniors and more. This comprehensive understanding would help you get started in the right direction being fully aware of the competition and what they are doing. After all senior living marketing is exciting, challenging and ever evolving, so keep an eye on the competitors.
9) Partnership with Similar Brands: Collaborate with brands that share a similar audience. For example, Saregama Carvaan could run a contest on social media for seniors, and the winner gets to stay in your senior living project. Saregama Carvaan can then showcase the visit live on their social media channel, effectively engaging their audience and giving a glimpse of your community. While this strategy might sound easy, it's not, but we all agree there's no free lunch. You can implement a similar approach with other senior living companies like Friends adult diapers, Tata Sky Seniors, Seniorworld, and more.
10) Create Contests and Generate UGC: Avoid merely talking about your brand, as people may be skeptical. In this digital era, user-generated content (UGC) is key. Engage users meaningfully on the internet, and half of your marketing challenge is solved. Seniors love trying new things and taking over company social media for a day to showcase their life at your senior living project. A genuine video from a happy senior resident will outshine any professionally produced content. You can even offer this opportunity to every new customer who moves in, although you must be selective as not everyone will be willing to participate.
11) Take Over the World: Be bold and captivating in your approach. Organize eye-catching events in public spaces, like flashmobs, dance competitions, or ramp walks. By taking over streets and malls, you'll capture the attention of passersby, garnering free PR and generating buzz on social media.
12) Create an Online Radio Channel/YouTube Channel: Following the concept of UGC (User-generated content), consider establishing an online radio channel or YouTube channel where seniors can take on the role of radio jockeys (RJs). This enjoyable activity will not only keep seniors engaged in meaningful ways but also add a touch of nostalgia and excitement to their lives.
Furthermore, you can monetize the channel by selling ad space, generating revenue that can be used to organize parties and events in your senior living projects, reminiscent of the college days. This interactive and entertaining platform will foster a strong sense of community among residents while showcasing their talents and stories for the world to see.
13) Embrace Below-The-Line (BTL) Activities: Don't limit your marketing efforts to traditional channels. Explore BTL activities with third-party vendors to reach seniors directly in societies, companies, or malls. Stalls, workshops, and interactive experiences will create memorable connections with potential residents.
Remember, senior living marketing is an ever-evolving journey filled with excitement and challenges. By adopting these innovative strategies and constantly adapting to the changing landscape, you can position your senior living community for success, ensuring it thrives in the long run, beyond mere leads and costs per acquisition.
Need senior living marketing support?
Contact us for for a free consultation!