By harnessing the power of consumer data, leaders can better identify opportunities in the local market.
Wrightsville, PA. – August 13, 2019. Finding ways to expand into the growing middle market is a key strategy for many aging services providers. But, the middle market in San Diego is not the same as the middle market in Wichita, which is a far cry from the middle market Atlanta! While many national studies have tried to define the middle market up to this point, there hasn’t been an easy and cost-effective way to understand economic factors, real estate conditions, and consumer preferences on a local level.
Understanding this, Holleran and SenioROI have recently partnered to develop and offer their new Market Intelligence Report. By harnessing the power of SenioROI’s consumer data insights, in combination with Holleran’s focus on research and data visualization, the new Market Intelligence Report creates an interactive analytical environment that provides consumer understanding never before possible.
“The demographic information provided by Holleran’s Market Intelligence Report is in a very useful and easy to use format,” says Thomas Garvin, President of Waverly Heights, located in Gladwyne, PA. “For Life Plan Communities looking to venture into new product lines or considering expansion, this tool can really demonstrate the market potential that exists within a particular area.”
Each report is customized to the locality of an individual campus. Providers supply up to ten zip codes (or more if desired), for which they would like to better understand the market. Then, representative samples of people aged 55+ in that area are used to generate the report. Each report contains information important to senior living leaders, such as net worth, income-producing assets, home equity values, mortgage to equity ratios, consumer buying habits and more. Thanks to the interactive nature of the report, the data can then be manipulated in thousands of different ways.
“For more than a year, we’ve been hearing how providers are struggling to identify and reach the middle market,” says Nikki Rineer, President of Holleran. “Now, utilizing more than twenty key data points, we can provide a complete consumer snapshot for the 55+ population in any area of the country – at a cost less than the average marketing mailing, with a turn-around time of less than fifteen business days!”
“Targeted marketing, driven by a deep understanding of the consumer, is the future for senior living,” says Mark Ingram, CEO of SenioROI. “This report allows us to visualize local market conditions in a whole new way, continuing the shift towards marketing intelligence that is going to dominate the aging services space in the coming decade.”