Questions to Consider

If you are familiar with the traditional 4 P’s of marketing, we believe there are 6 P’s to focus on for senior living success. Occupancy Answers can help you identify whether all of these factors are properly in alignment to gain momentum and build occupancy.

 

The 6 P’s and a few questions to consider:

 

1. Product
  • Does your community design, services and amenities match the expectations and needs of your market?
  • Are floorplan designs and unit sizes desirable to prospective residents?
  • Do you offer a variety of choices and options to broaden market share?
  • Is your available inventory ready for a good show?
  • Are you investing in renovations and staying relevant for today’s consumer and for the future?
2. Pricing
  • Is your pricing appropriate relative to your market and your competition?
  • Do prospects perceive value and benefit with your contracts and fees?
  • Do you have a fluid approach to pricing that can adapt to market conditions?
  • Are you maximizing revenue opportunities with strategic pricing models?
3. People
  • Is your sales team effective in managing the sales pipeline, closing the sale and ensuring move-ins?
  • Are the skills and activity levels of your sales team sufficient to meet sales goals and grow occupancy?
  • Can conversion ratios be improved to generate more appointments and more sales?
  • Is the sales team held accountable for performance?
4. Place
  • How Is your community’s site and location perceived?
  • Do you understand the unique characteristics of your market and does your community fit within it?
  • What is the depth of the market and what are the unmet needs for seniors?
  •  What is the level of competition and what opportunities exist?
5. Promotion
  • Are your lead generation tactics working to attract a sufficient number of qualified prospects?
  • Does your brand identity and promotional materials clearly communicate what makes your community unique and what sets you apart from the competition?
6. Plan
  • Is your marketing and sales plan strategic and effective in generating viable leads?
  • Is your plan dynamic and ever-changing to adapt to market shifts?