Seniors finding themselves in the middle economic class are facing a problem: a shortage of senior living middle market housing intended for seniors. According to one study, the number of options for senior living may need to triple in size by 2040 to meet demand.
This is an alarming trend that senior living communities will need to address in the coming years. But while it is an emerging need for society, it also represents a golden opportunity for creative-thinking senior living communities to tap into a market with high demand.
Let’s take a look at how your senior living community can address the needs of the senior middle market and also how they can best reach that audience.
How to address senior living middle market housing needs:
Before you look to attract middle market seniors, you must first determine whether your community is the right fit for them. There are a number of steps senior living communities can take in order to cater to that audience. A few of them include:
1. Start developing senior living middle market housing now
While middle market housing is currently lacking, it’s still a few years before it’s believed it will become a major issue. That’s why senior living communities can begin building housing now that will attract middle market seniors. These include communities and homes that are more modestly priced and designed than luxury developments.
2. Keep construction costs down
Opting to build smaller properties can help senior living communities keep their construction costs lower. This will enable them to charge less and attract seniors that aren’t in the economic upper class.
3. Use technology to your advantage
Design your facility with efficiency in mind. For example, optimizing how food is delivered to your facility and prepared by staff may help you cut down on staffing costs. You can also use emerging technology (i.e. smart homes) to regulate different systems within your community to cut down on the need for attendants.
4. Provide the same great service found at high-end senior living communities
You may not be able to provide all the same amenities found at a higher end property. But that doesn’t mean you can’t operate a senior living community that:
- Allows your residents to foster a sense of community.
- Focuses on maintaining the dignity of your residents
Building these two components into your operating strategy will help your residents stay happier and healthier. You can highlight these aspects of your community to appeal to middle market buyers. Show them middle market prices do not mean you have to sacrifice on the quality of life or overall health.
How to reach the senior living middle market:
There are multiple ways you can position yourself as a leader in appealing to middle market seniors looking for the right community for their level of wealth and budget. Marketing your community appropriately is how you do that.
Below are a few suggestions on how to reach the middle market effectively with a message that’s sure to resonate:
1. Brand your senior living community appropriately
If your brand is that of a “middle market senior living community,” make sure all your materials and content reflect that branding. Write posts for your blog that appeal to the middle market with tips on how to save money and affordable entertainment options in your area. Highlight your pricing on your website to ensure potential new residents understand your level of affordability.
2. Use keywords and search engine optimization
Your website, blog, and social media copy should all include the keywords that middle market seniors searching for housing would look for. Target terms such as “affordable senior living community” or “affordable senior housing.” Include your city and state as well when crafting keywords to include in your content.
Use search engine optimization (SEO) to create copy for your website landing pages meant to attract the middle market. Use longtail keywords to capture future residents searching for housing in your area.
3. Target the right audience by using the right social media platforms
Buying ads on social networks like Instagram may not be as valuable an investment as Facebook, as seniors continue to prefer Facebook. When deciding where to spend your online advertising dollars, opt for the platform that is more likely to reach the audience you’re looking to bring in.
4. Use the power of video marketing
Videos can be incredibly effective tools when trying to reach the middle market. Two ways in which you can incorporate videos into your middle market strategy include:
- Posting user testimonials from other users who can attest to your community’s quality and affordability. Allowing future residents to hear from current, satisfied residents is a powerful way to persuade them to see your community as the right place for them
- For some users, lower prices and lack of terms like “luxury” may denote a step down from other higher end senior living communities. By posting videos of your properties and all their amenities, you can showcase the quality of your community while quelling any fears about it not being meant for a higher market.
5. Get creative
Using some creative planning tips, you can attract middle market residents in a number of ways, including:
- Hosting or attending events in your town or city that you know middle market users will be attending
- Create a newsletter that future residents can sign up for. Use this to regularly provide subtly persuasive updates that highlight your facilities as an affordable alternative to pricier communities
6. Start a senior living direct mail campaign
Seniors respond well to direct mail campaigns. Showcase your property as the leading middle market senior living community in your location through a well-planned direct mail campaign targeted at middle market seniors.
7. Experiment with different strategies
Use all, some, or a combination of the ideas listed above or included in the links. Find what works best for you. Stick to a marketing plan, but don’t be afraid to tweak it as needed if you’re not attracting middle market seniors to live at your community. You may need to experiment a bit to come up with a marketing strategy that works for you.