Better Than a Crystal Ball:
What would you do if you could predict the future? (Besides winning the Powerball®.) We imagine that, since you’re in the senior living industry, predicting how to grow your business would be at the top of your predicting-the-future to-do list. While unfortunately there haven’t been any great strides made in the “crystal ball” industry as of late, we have the next best thing: predictive analytics.
Oops! We could not locate your form.What would you do if you could predict the future? (Besides winning the Powerball®.) We imagine that, since you’re in the senior living industry, predicting how to grow your business would be at the top of your predicting-the-future to-do list. While unfortunately there haven’t been any great strides made in the “crystal ball” industry as of late, we have the next best thing: predictive analytics.
Predictive analytics is a form of analytics that uses historical data to predict what will most likely happen in the future. That’s different from the more commonly used reporting trend analytic, which analyzes the trends that have affected your business over the last 30 to 90 days.
“Instead of telling you where you’ve been, predictive analytics gets out in front of where you are today to tell you what’s going to happen tomorrow, or 30 days from now, or years in the future,” says Kris Thodosoff, Data Scientist at SeniorVu.
And for a senior living community, nothing is more meaningful or useful than predicting who among your myriad of prospects will most likely become a move-in. That’s what buying leads is for, right? To narrow down the list of the populace at large to find who is interested?
That’s all true—but the 2 big players of the senior living lead generation industry who shall not be named gather their leads from individuals who have already raised their hand and are actively searching for a senior living community, and to make matters worse, they force you to compete with all the other communities for that lead. And as you probably know, marketing from someone who’s actively searching automatically puts you at a disadvantage, because the clock started ticking before you knew it.
Rushing towards the finish line doesn’t exactly leave a lot of time for relationship building with future residents. And that’s why SeniorVu does things differently for you. Our disruptive process combines integrated data, machine learning and cutting-edge technology plus our “Secret Sauce” to come up with highly qualified leads matched to your specific community.
”We unify many disparate data sources to come up 300+ attributes and variables that allow us to predict who in your pool of potential leads is most likely to move in to your community,” says Kris. “We determine your ideal resident and then use the most predictive variables to drill down to the best possible leads.”
One of the coolest parts of this process is that it enables SeniorVu to market to individuals before they even begin actively searching for a senior living community. By fusing data and machine learning, we’re able to predict who among the cold leads would become a warm lead voluntarily, allowing us to help our clients build relationships with their leads without having to worry about immediately closing the deal.
“SeniorVu’s model uses the best technology to come up with better, higher-quality leads at a lower cost,” Kris says. “That means we’re not only getting you the best exclusive leads, it also means that your sales team spends their time with families desiring your attention and not competing with eight other communities for leads beyond marketing’s help.”
Predicting the future with a “crystal ball” is certainly entertaining. Predicting the future with predictive analytics is smart business. It allows our client communities time to develop a relationship with their future residents so when it is time to make that move, there is little question which community they want to call home.
See for yourself how predictive analytics can mean big results for your community.