Aline Benchmark Report Update: Highlights From Q2 2024
Get the latest senior living sales and marketing data to improve your performance with the Aline Benchmark Report Q2 2024.
Get the latest senior living sales and marketing data to improve your performance with the Aline Benchmark Report Q2 2024.
Amanda McGrory-Dixon
As you look to improve your performance in the second half of the year, we continue our commitment to providing the critical insights you need to not only meet but surpass your sales and marketing objectives. Following our comprehensive 2023 Aline Benchmark Report for Senior Housing, we are pleased to present the Aline Benchmark Report Q2 2024, offering the latest data to ensure you stay ahead in an ever-evolving market.
Spanning 309,000 industry-leading senior care units, the Aline Benchmark Report offers unparalleled depth and breadth, making it the most thorough resource available in the sector. The report includes detailed analyses of independent living, assisted living, memory care, and life plan communities. Recognizing the unique market dynamics and conditions each community type faces, we have segmented the data accordingly to provide specific insights.
For a full view of the industry’s sales and marketing data, make sure you download our Aline Benchmark Report 2023. Now let’s see how Q2 fared.
After normalizing for 100 units per month, we found average inquiries from Q2 2023 to Q2 2024 increased the most for independent living. This repeated the same trend found in our Q1 Benchmark Report. In Q2 2023, inquiries averaged 32, but inquiries increased to 35 in Q2 2024.
While inquiries increased for all community types except life plan residential, which dropped from 29 to 26, move-ins remained the same across the board. Tours also held steady, though memory care saw a small bump from 12 to 13 tours.
To help you better break down performance, we separate our conversions into these segments:
When looking at the average conversions for inquiry-to-tour from all segments, independent living took a small dip from 31% to 29% and assisted living decreased from 31% to 28%. However, conversions for memory care and life plan residential stayed the same year over year.
Assessing your performance metrics within a regional context is crucial. Population densities and varying levels of competition mean that uniform performance standards across different regions are impractical.
From Q2 2023 to Q2 2024, move-ins for memory care communities in rural communities saw the biggest fluctuation, dropping from 12 to nine.
For this analysis, we reported on the percentage of inquiry methods for call-ins, paid inquiries, unpaid inquiries, and web. Call-ins, paid inquiries, and unpaid inquiries mostly dropped or stayed the same. Web inquiries, however, grew across all community types.
Ready to put this data into action? Visit our Aline Benchmark Report hub where you’ll find plenty of resources for applying this data to your own senior living business.
Here, Erin Hayes, president of Aline, highlights her expert analysis in a four-part video series. Check out this video series to learn how to:
And, of course, our hub wouldn’t be complete without the smart insights from industry veteran, Jayne Sallerson, president and COO of Charter Senior Living. In Jayne’s interview, she shares how you can use benchmark data to move in more residents for longer stays — and that means more sustainable growth for your community.
To access the latest senior living sales and marketing data, download the Aline Benchmark Report Q2 2024 today.
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Your experience is important to us. We’re redirecting you to our new Aline website, where you’ll discover how our complete suite of senior living solutions can help you grow occupancy and revenue, optimize operations, and enhance resident care.
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Your experience is important to us. We’re redirecting you to our new Aline website, where you’ll discover how our complete suite of senior living solutions can help you grow occupancy and revenue, optimize operations, and enhance resident care.
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