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These are the slides from the webinar presented by RetirementHomes.com on June 19, 'Senior Living Marketing Myths, Misconceptions, and Money Pits.' This presentation shared the basics of lead tracking for senior living professionals, and how marketing dollars can be used for maximum results. This webinar was hosted by Robert Walker of RetirementHomes.com and the guest speaker was Kevin Williams of SeniorMarketing.com. To find out more about our free monthly webinar series, e-mail Robert Walker at [email protected].
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Presented By: Kevin WilliamsPresident, SeniorMarketing.com
“Marketing Myths, Misconceptions, and Money Pits To Avoid at Any Cost”
Hosted By: Robert WalkerBrand Manager, RetirementHomes.com
Gifts & Handouts at The End(no fine print or tricks, just stuff that will help you)
Marketing Problem #1(marketing appears expensive…and really can be)
Marketing Problem #2(it’s extremely difficult to track scientifically)
Marketing Problem #3(shiny new ideas and objects show up everyday)
Marketing Problem #4(what exactly is marketing?)
“A holistic process of activities that are aimed at attracting customers, keeping them and increasing their value to your
organization” ~ Pure Genius Brought To You By Kevin Williams
Absolute Marketing Truth:(smart marketing will make you an absolute boat-load of
NOI)
Incomplete Tracking Method #1(tracking numbers…a fantastic tool, but not the entire picture)
Incomplete Tracking Method #2(We ask “how did you hear about us…and even ask what the
page number is if they say Yellow Pages!)
Incomplete Tracking Method #3(My marketing firm tells me how low my cost per exposure or
lead is)
Incomplete Tracking Method #4(we don’t track our marketing, we just stay in our budget)
The Realistic and Most Effective Way To Track The Performance
of Your Marketing Budget
First You Must Understand The “Lifeblood of Smart Marketing(Lifetime Resident Value, Cost Per Resident Acquisition, Profit
Per Resident Per Medium and Return on Investment Per Medium)
Average Lifetime Resident Value (LRV)
(the value, in dollars that a customer is worth to you on average. Can be done globally but should be done by service type)
Global Ex. (Avg. Stay 21 Months X Avg. Rent $3,300 = $69,300)
Cost Per Resident Acquisition (CPA)(how much money it costs you to get a new, paying resident, not
lead. Can also be done globally but should also be done by marketing medium)
Gobal Ex. ($10,000 Budget / 3 New Residents = $3,333)
Marketing Profit Per Resident (PPR)
(what each resident is worth to you after you factor in the cost to acquire them. Can also be done globally, but MUCH more
important to do by medium)
Global Ex. ( LRV $69,300 – CPA $3,333 = PPR $65,697)
Marketing Return on Investment (ROI)
(to figure this out, you need the investment for each marketing strategy, number of leads, number of residents, profit per resident
and lifetime customer value)
How The Big Boys (Not Necessarily In Our Industry)
Think About This(It’s 100% ok to Break EVEN Acquiring a Customer Due To All
The Other Doors It Opens)
Live Demo
(Let’s hop onto the internet)
SENIORMARKETING.COM• 60-day FREE Trial of Senior Living
Analytics Elite, Marketing Director Elite, and Email Marketing Elite
• Free Report: The 3 Pillars of Senior Living MarketingContact: [email protected]
FREE Gifts!• Complimentary online directory
listing upgrade• Three month free pilot of
RetirementHomes.com lead management system
• Free Whitepaper: How ‘Nana Technologies’ Can Grow Your Senior Living Business Contact: [email protected]
RETIREMENTHOMES.COM
Questions?
SeniorMarketing.com
RetirementHomes.com
Facebook.com/RetirementHomesYouTube.com/RetirementHomesTwitter.com/News4Retirement
Robert Walker1-888-544-9124 x [email protected]