“The senior living industry is vast, and it continues to grow each year, with annual revenue increasing from $78.2 billion in 2016 to $94.2 billion in 2023,” reports SeniorLiving.org.
With one in six Americans over the age of 65, according to the 2020 census, the market size of the senior living industry is predicted to exceed $805 billion by 2030.
For senior living marketers, there is a big opportunity to connect with Americans aged 65+ as they collaborate with their adult children to make decisions regarding their future living arrangements.
According to the Institute for the Advancement of Senior Care, “To effectively market your senior care community, it’s essential to stand out amidst the flood of messages your audience encounters daily.” The article goes on to explain the power of storytelling in senior-living marketing, noting that “storytelling can be transformational when used to build your brand….”
In addition to having the right storytelling message, media placement is also a key part of making a lasting impression on target audiences.
The Power of FSIs
For senior living and retirement communities looking to generate leads and increase move-ins to their communities, Free-Standing Inserts (FSIs) can make a powerful impression and help to maximize ROI. Because they are separate standalone inserts apart from the rest of the publication’s editorial, FSIs drive more leads than Run-of-Press placements.
FSIs can easily be saved by seniors and their adult children, who can hold on to these valued inserts until it is time to make a decision, driving higher response rates.
How Mediaspace Can Help
Mediaspace clients who have shifted to FSIs have experienced 25% increases in inquiries compared to markets without FSI support as well as nearly 40% increases in website visits over markets without FSIs. Mediaspace helps senior living clients optimize their FSI buys through a comprehensive process that includes:
- Utilizing demographic data to establish high priority zip codes;
- Identifying which publications best cover the high-value zip codes’
- Recommending frequency;
- Developing community specific creative with relevant CTA; and
- Negotiating optimal rates for a streamlined cost-effective buy.
Reach out to Mediaspace to find out more about leveraging FSIs for senior living marketing campaigns.
