WelcomeHome releases Q1 2023 findings in senior housing business

Discovers a stabilizing industry with opportunities for capturing lost leads

ATLANTA, GEORGIA, UNITED STATES, May 11, 2023/EINPresswire.com/ — WelcomeHome, developer of the signature senior housing customer relationship management system, announces the release of its Quarter 1 Benchmark: 2023. Analyzing data from the 1,500 plus communities they serve, the findings highlight increased leads and possible opportunities for capturing lost conversions.

Q1 Benchmark: Key Findings

After the 2022 occupancy rebound from 72% to 77% in December, the average community rates remained steady. Across geographic regions, the biggest changes occurred in the Northwest with +0.8% and the South at -1.1%.

The top 25% of communities achieved occupancy rates above 92% – with the top 25% in growth realizing gains of more than 2%. There was a -0.2% decline in occupancy for the Independent Living market. Not reliant on needs-based senior housing, the slight fall is believed to be due from continued yet uncertain economic changes.

Other insights include a healthy increase in community leads from December 2022 that failed to transfer proportionately to an increase in move-ins. Q1 leads-to-move-ins dropped from 9.4% to 7.3% due to a decline in tour-to-move-in conversions.

Aggregator and on-line leads continue to be relied upon by communities. However, those leads which are lost appear to be shifting from features such as competition and the inability to contact prospects – toward financial and location motivators. This may raise the question of whether communities should be more transparent with their information to minimize unqualified leads making it further down the sales funnel.

Overall, the data collected from Q1 illustrates a continued return to pre-pandemic performance and highlights a possible opportunity to boost conversions of lost leads with a stronger strategy and vetting.

“At WelcomeHome, we are laser focused on our clients and providing them with the best possible experience and product, including differentiated data and analytics access and insights support. That said, we feel it is important to improve data access, transparency, and accuracy for everyone in the senior living industry. Data has to be a core component of strategy, and our goal is to give as much as we can back to senior living operators and stakeholders,” expressed Maggie Seybold, Vice-President of Customer Insights, WelcomeHome.

The complete findings are available here.

About WelcomeHome

Founded in 2017, WelcomeHome provides leading technology for sales and marketing professionals in the senior housing space. The company’s signature platform is a proprietary customer relationship management (CRM) software system, providing mobile apps and seamless integration with lead generation, medical, billing, and other systems to give senior living operators a competitive advantage. Find us on LinkedIn, Facebook and our blog to keep up with our new developments. For more information or to request a demo, please visit https://www.welcomehomesoftware.com.

Jeanine Genauer
The JPR Group, Public Relations & Marketing Communications
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