Competitor Analysis for Senior Living
"Yes! The best market analysis I have ever read! Thorough and enjoyable to read! Will produce great strategic plans because of it!"
Regional Director of Marketing & Sales
Grace Management, Inc.
Know Your Competition BETTER Than They Know You
What makes one senior living community thrive in a particular marketplace while others appear to struggle?
Is one assisted living community's pet-friendly policy the secret to attracting new residents? Are the dining and activities programs far superior? Is pricing playing a crucial role? Or does one community havefar superior online reviews, a more engaging website, or more effective salespeople?
Conducting a thorough Competitor Analysis will help answer these questions and more. A comprehensive Competitor Analysis identifies threats from the competition, but more importantly, identifies opportunities to leverage a community's advantages to outshine the competition.
In most markets, prospects have MANY choices for senior living. And rarely is a decision made based solely on price. Being vigilant about monitoring the competitive landscape is essential to staying relevant in the mind of today's prospects. New and renovated choices change the competitive environment daily. Research into your competitors can help you make adjustments to turn the prospect decision-making process in your community's favor.
Don't lose another day wondering how your community stacks up relative to other choices in your area. Let the Senior Source Consulting Group conduct a thorough Competitor Analysis to gather objective data and actionable insight on your behalf.
For more information, contact us today.
At Senior Source Consulting Group (SSCG), we take a multi-pronged approach to analyzing the competitive landscape. We not only collect objective data such as rates, square footage, and services included in the monthly fee, but we also report on qualitative "soft data" such as first and lasting impressions, perceptions of trust and friendliness, value creation, credibility, and the effectiveness of the sales process.
Our Competitor Analysis can also include an Online Analysis to give you a 360-degree view of the prospect's experience relative to the choices in your market.
ONLINE ANALYSIS - CUSTOMER EXPERIENCE
With 97% of purchase decisions beginning online, how do your website and social media presence compare to the competitors in your market? What do online reviews and ratings say about your community vs. the competition? Are social media sites and online directories more effective in telling your community's story or that of other choices in the market?
IN-PERSON, TELEPHONE, VIRTUAL TOUR EXPERIENCE
How well does your community roll out the red carpet for prospects relative to your competitors? How quickly are inquiries responded to? Is the competition creating more value or delivering a more personal, memorable, and effective customer experience? Which communities have mastered a prospect-oriented sales process to make prospects feel heard and understood to stand apart in the market?
Senior Source Consulting Group offers a variety of ways to learn more about what tips the scales for a prospect in any market. We use highly experienced senior living professionals to conduct mystery shops and competitor analysis projects. Our research is conducted either in person or over the phone to provide actionable insight and a full report detailing solid recommendations and immediate action steps (Bright Ideas!) to help your community/communities gain a superior position in each market you serve.
Senior Source Consulting Group's Competitor Analysis can be customized to your needs to include any of the following areas:
Prospects are said to compare 3 to 4 senior living communities prior to making a decision -- what factors will sway a prospect's decision in your community's favor?
"I used Senior Source Consulting for a project that involved market analysis and a series of various shops. They did a thorough job and went out of their way to turn it around quickly so I could include analysis in my presentation at an important meeting."
Vice President of Sales & Marketing
Brookdale Senior Living