In the senior living industry, branding isn’t always top of mind. The conventional wisdom holds that if you’re in the right neighborhood and have a good reputation, you’ve sufficiently differentiated yourself from your competitors.
But a growing number of senior living executives are realizing the importance of positioning and branding in a competitive marketplace. If you work in the industry, you know just how competitive: As the senior living client base has shifted from the G.I. Generation to the much-smaller Silent Generation in recent years, many communities have felt the pinch.
William Strauss and Neil Howe write in their seminal book “Generations” that the G.I. Generation was 63 million strong, while the Silents number just 49 million — a deficit of 14 million potential senior living residents. The youngest members of the Silent Generation now are about 74 years old — still a tad younger than the average move-in age at many communities.
While communities wait for the 79 million Baby Boomers — born between 1943 and 1960 — to begin moving into communities en masse, competition will remain fierce. And branding will be more important than ever.
The Importance of Differentiation
Your logo is not the same as your brand. It’s a piece of it, but your brand is much more — and it’s critical to follow a unique path if you want to stand out from your competitors. Your brand is a promise; it answers the question, “What are you going to do for me?” But it’s also a cluster of attributes that helps your community stand apart from its competitors.
As Forbes notes, your brand must take up residence “in the hearts and minds” of your prospects to secure your distinct positioning in the marketplace. To make this kind of impact, your community must be clear on what sets it apart. And you must communicate the difference, consistently over time, in every way that you represent yourself — including in person, in print and online.
Why Is Branding so Important Online?
With so many communities these days using pull marketing — enticing consumers to come to you — establishing your brand online is vital for your success. Counting on prospects simply knowing about your community by virtue of geographic proximity may have worked when you were targeting the bountiful G.I. Generation. But now, doing more is mandatory.
What is the “more” that you must do to solidify your brand online?
- You must get the basics right. This means maintaining a beautifully designed, easy-to-use website, a robust online advertising program and an engaging presence on the big social media platforms.
- You must be found in search engines. If a prospect searches on keywords related to senior living in your area, they should see your website and your social media profiles — and they should see them close to first, if not first. Maximizing your visibility online plays a critical role in establishing your positioning.
- You must expand your reach beyond your local area. Your best prospects may not live within your primary target area. They may live out of state but have children near you, or they may simply be interested in a move.
- You must continue to build trust with your target audience; do so with a constant stream of authoritative, shareable content on your website and through your social media presence.
Brands Aren’t Just for Consumers Anymore
Your branding — and your concomitant positioning in the marketplace — also play a key role in attracting another important target audience: prospective employees. Research has found that just over half of companies have a strategy for their brand as an employer. Meanwhile, most of the companies without a strategy are working on one.
If your competitors don’t have an employer brand strategy, they likely will any minute now. To position yourself to prospective team members as a competitive, engaging employer, you need a strategy as well. By taking steps like creating attractive compensation and benefits packages and encouraging current employees to spread the word about your community, you can begin building your employer brand.
In the competitive marketplace of senior living, you need every advantage. Honing your branding and market positioning — especially online — can give you the upper hand both with prospective residents and employees.