Start with a plan rooted in what works. Use past results to guide your spending, set goals that are laser-focused and measurable, and prioritize what gives you the most bang for your buck. But a winning budget isn’t just set—it’s agile. It shifts with trends, adapts to performance, and evolves to keep your strategy ahead of the curve.
Here are five steps to make your senior living marketing budget work smarter, not harder.
Step 1: Check How Your Current Marketing Works
Your current strategy is the foundation for your next one. What’s bringing in leads? What’s falling flat? Keep what works, and rethink what doesn’t.
Start by looking at all your marketing channels—digital ads, email campaigns, social media, or even direct mail. Use tools like Google Analytics or unique phone numbers to track what’s pulling in the most leads.
Focus on key numbers to see the full picture:
| KPI Category | Key Metrics to Track |
|---|---|
| Financial | Cost per lead, Revenue per available room (RevPAR), Return on investment (ROI) |
| Engagement | Website visits, email open rates, social media clicks |
| Conversion | Lead-to-tour ratio, occupancy rates |
Find the gaps in your strategy. Is your content grabbing attention? Are your ads getting clicks? Is one channel more cost-effective than another? The answers tell you what to double down on—and where to make changes.
Step 2: Set Clear Marketing Objectives
Goals give your budget a direction. Without them, it’s easy to overspend or put money into the wrong places.
Use the SMART method to create goals that stick:
- Specific: Boost qualified leads by 25%.
- Measurable: Use CRM tools or analytics to track progress.
- Achievable: Focus on realistic targets that match your resources.
- Relevant: Tie your goals to what matters most—like higher occupancy rates.
- Time-bound: Set a clear deadline, like hitting your target by Q2 2025.
Focus on what’s important for your community. New communities might need more visibility and leads. Established ones could benefit more from referrals or retention campaigns.
Don’t forget long-term goals, like building a trusted brand, while working on immediate needs, like filling vacancies.
Step 3: Look at Trends and Competitors
Staying competitive means knowing what’s happening in the industry and what others are doing.
Compare your budget to industry standards. Most senior living communities spend 7-10% of their revenue on marketing, with suburban communities averaging $22,650 per month. If your costs are way off, you might need to adjust.
Try fresh ideas to keep up with changing trends. Digital marketing leads the pack, with tools like AI-powered lead management, virtual tours, and geo-targeted ads becoming the norm. These tools help you connect with families and seniors where they are—online.
Pay attention to competitors. What are they doing well, and where are they falling short? Spotting their weaknesses gives you a chance to stand out.
Step 4: Distribute Budget Based on Priorities and ROI
Every dollar in your budget should have a job. Divide your spending between proven strategies, new ideas, and bold experiments.
Here’s a common breakdown:
| Marketing Channel | Budget Split | What It Does |
|---|---|---|
| Digital Ads | 35-40% | Brings in leads and clicks |
| Content Marketing | 25-30% | Builds trust with prospects |
| Lead Generation Tools | 20-25% | Qualifies potential residents |
| Traditional Ads | 10-15% | Engages the local community |
Stick to the 70-20-10 rule:
- 70% goes to strategies that consistently work, like targeted digital ads
- 20% goes to new approaches that are already showing promise
- 10% is reserved for bold, experimental ideas
This mix lets you focus on what works while staying open to fresh opportunities.
Step 5: Monitor and Adjust Budget Regularly
A marketing strategy isn’t static. You need to check your results often and shift gears when needed.
Track important numbers like lead quality, cost per acquisition, and campaign ROI. Tools like Google Analytics or CRM platforms can help you see what’s working and what’s falling short.
Here’s a quick guide:
| Metric Type | What to Track | How Often to Check |
|---|---|---|
| Lead Generation | Conversion rates, lead quality | Weekly |
| Campaign Performance | Cost per lead, engagement rates | Bi-weekly |
| Channel ROI | Revenue attribution, cost per acquisition | Monthly |
| Website Analytics | Traffic sources, bounce rates | Weekly |
Review your budget every quarter. Are you spending too much on channels that aren’t delivering? Shift that money to areas bringing in the best leads.
Seasonal changes matter too. Senior living communities often see higher interest in the winter, so increasing ad spend during those months can pay off.
Stay flexible. When something stops working, move on quickly. The more responsive you are, the better your results.
USR: Smart Spending, Smarter Solutions
Marketing isn’t a still lake—it’s a flowing river, full of twists and turns before it reaches its destination. To navigate it successfully, figure out what works, set clear goals, stay on top of trends, allocate your funds wisely, and adjust as needed. When every dollar flows with purpose, your strategy can achieve real results.
Ultimate Senior Resource offers AI-powered tools to qualify leads and generate results, making it a strong fit for the 20% dedicated to innovative strategies in the 70-20-10 model. Shifting your budget to proven channels like SEO or PPC ensures better ROI while keeping your strategy flexible and focused on growth.
Discover how to boost leads, save time, and cut costs in your senior living community—join our free webinar to see how the USR Virtual Agent automates lead nurturing, reduces overhead, and streamlines your marketing strategy. Register now to save your spot!
