This is a recent article I wrote for Retirementhomes.com
There’s a mistaken belief within the senior living industry I want to dispel. Particularly, with regards to internet marketing. Many people have been conditioned to believe there is an important metric to focus on in their marketing efforts. However, if you happen to be only measuring by this metric, you’re shooting blind with your senior living marketing. Worst of all, the results can be downright dangerous!
The misconception I’m referring to is the idea of measuring the success of a marketing campaign by cost per lead.
Here’s why that’s important…
LEADS DO NOT PAY BILLS, YOUR RESIDENTS DO!
What seems like a low cost per lead can actually be very costly to your business. And what seems like a high cost per lead can actually be a very profitable avenue.
Anybody can generate many leads for you. Whether or not they’re quality leads, that will actually turn into a paying customer is a different story. Cost per lead is an incomplete number to your business. It’s only a piece of the sales process and an arbitrary piece at that.
I can generate a ton of low cost leads to your community tomorrow if you want. What I can do is host an event at your community and run a direct mail promotion. I will give away a $100 Visa gift card, free lunch for prospects and their family, and have a carnival with face painting. The problem with this is, while I will generate a lot of responses they’ll be responding to the $100 gift card, the lunch, and carnival. The actual amount of qualified leads will be low and new residents will be costly.