The Dos and Don’ts of Increasing Your Assisted Living Occupancy

If your senior living community has more vacancies than usual, you’re not alone. Assisted living occupancy rates plummeted across the senior living industry during the COVID-19 pandemic, and many organizations haven’t yet returned to their pre-pandemic levels. Unfortunately, empty units can have a devastating impact on revenue, leading to staff reductions, and reduce opportunities for residents to socialize. 

In the face of this ongoing crisis, many marketing and sales professionals in assisted living wonder how to increase occupancy. Adopting new digital solutions and advertising approaches may be one method of attracting potential residents, but communities who seek to employ these and other methods often fall victim to several common pitfalls.

On the other hand, understanding the dos and don’ts of improving occupancy rates will help you grow your community successfully. 

Tip: A lot of these best practices are covered in our eBook Turning Numbers into Actionable Sales & Marketing Insights grab a copy here.

The Big Picture: Tracking National Senior Housing Occupancy Rates 

The National Investment Center for Seniors Housing & Care’s MAP Vision provides a quarterly snapshot of senior living trends. According to the latest NIC MAP Market Fundamentals Data, occupancy rates have grown slowly but steadily in the last two years, rising a total of 5.4 percentage points. Key milestones include: 

• The first quarter of 2020: Occupancy levels peak at a pre-pandemic high of 87.2%
• The second quarter of 2021: Occupancy levels drop to the pandemic low of 77.8%
• The third quarter of 2021: Occupancy rates climb to 80.1%
• The fourth quarter of 2022: Occupancy rates hit 82.9%
• The first quarter of 2023: Occupancy rates reach 83.2% 

Additionally, many NIC MAP Primary Markets have experienced above-average occupancy rates. During the first quarter of 2023, the metropolitan markets with the highest levels included Boston (89.1%), Portland, OR (86.6%), Baltimore (86.3%), and Dallas (84.8%). On the other hand, some cities continued to experience low occupancy, such as Atlanta (80.3%), Cleveland (79.5%), and Houston (78.5%). 

Several factors have contributed to this uneven growth. NIC’s chief operating officer Chuck Harry notes that the inventory growth of new senior housing units has reached a record low as real estate interest rates skyrocket and the rate of new construction starts declining. This sluggish inventory growth may lead to higher occupancy rates in some areas if older adults face housing shortages. 

However, NIC’s chief economist Beth Burnham Mace observes that many senior living communities have also increased their asking rates substantially. For example, the asking rate for independent living units rose by 9.6% between March 2022 and March 2023. Memory care rates grew by 9.1%, and assisted living rates increased by 8.7%. While these higher rates can raise revenue for senior living communities in the short term, they may also lead to fewer move-ins. 

Still, savvy marketing professionals can use strategic marketing tactics to raise occupancy rates in this challenging economy. 

Best Practices for Boosting Assisted Living Occupancy Rates

The senior living market has grown more competitive as organizations vie for fewer customers. These innovative methods will help you get more leads and convert more potential residents to move-ins. 

1. Do: Use Data Analytics To Refine Your Marketing Campaigns

Creating marketing content can sometimes feel like taking a shot in the dark. You may craft the perfect text and choose eye-catching images, but it’s difficult to know if your efforts reach the right audience. 

Fortunately, data analytics software like ElderSmarts lets you evaluate the effectiveness of your marketing campaigns. For instance, you can analyze the demographics of website visitors, determine which ads resonate most with families of people with Alzheimer's, and track referrals from healthcare providers. These tools also transform data into actionable insights, so you know exactly how to improve your marketing plan to increase occupancy rates. 

2. Do: Be Transparent With Costs 

Many older adults and their families worry about the cost of senior housing. Some people may assume they can’t afford a luxurious retirement community and not investigate all their options. Publishing a range of costs on your website can give interested seniors the confidence to inquire about your community, and this simple change will help you get more qualified leads, saving time. 

3. Do: Create Valuable Online Content 

Promote your organization as a leading authority in the senior living industry by producing a steady stream of informative online content. For example, educational blogs and Facebook posts about local resources and needs-based services for seniors can drive new traffic to your website and social media accounts. People who discover this content may then feel curious about your community and become new leads. 

Eldermark's recent webinar, Making the Most of Your Senior Living Digital Marketing Budget, covers top content marketing techniques. 

4. Do: Use Customer Relationship Management Tools 

Streamline marketing tasks with Eldermark's customer relationship management (CRM) software. This technology captures data about each lead’s needs and interests so that you can tailor your sales pitches. For example, a self-professed foodie may leap at the chance to join an independent living community with luxury dining services. At the same time, you may win over a couple by highlighting on-site opportunities for date nights. 

Also, CRM can automate routine tasks like scheduling tours and sending informational packets so that you can focus on building connections with potential residents. 

3 Mistakes To Avoid When Recruiting New Residents 

Avoid these common missteps to maximize your chances of boosting your assisted living occupancy rates. 

1. Don’t: Forget About Your Existing Residents 

Maintaining high rates of satisfaction for current residents is one of the most effective ways to grow your total number of clients. Time-saving solutions like electronic health records and mobile Point of Care software enable staff to provide more attentive and personalized care. Also, community programming tools like Eldermark's innovative engage solution help residents develop strong social bonds so they’re more likely to stay in your community. 

2. Don’t: Make a Poor First Impression 

Seniors typically shop around before choosing a retirement community, so you may only have one chance to stand out from the crowd. Design your tours to showcase your organization’s best amenities and features, like an expansive swimming pool and therapy center in your skilled nursing community. And, of course, be sure to have stylish informational brochures and other resources on hand for potential clients to consult later. 

3. Don’t: Be Afraid To Experiment  

Marketing tactics don’t always need to be calculated and formal. Spontaneous and unique methods often generate potential leads more effectively and help distinguish your community from other senior living organizations. For instance, you can add short videos to follow-up emails for a personal touch or host open houses with family-friendly games to advertise your assisted living community. 

Elevate Your Occupancy Rates

Assisted and independent living occupancy rates remain low in many areas, but you can revitalize your marketing and sales efforts with the right tactics. Tools like Eldermark’s sales CRM and EHR help you leverage top solutions to promote your community without breaking the bank. This technology also enables you to deliver consistently excellent care for current residents. 

Schedule a free demo with Eldermark to learn more about how our ground-breaking solutions can enhance senior living occupancy rates and revenue.