How Mini Market Assessments Safeguard Your Senior Living Investments


Oct 17, 2017 | Marketing & Branding

As noted previously in our blog by Malissa Illiano, MBA, Senior Consultant and Director of Market Research for SageAge Strategies, “Senior living and senior care communities are dealing with many questions about the future these days. We’re seeing additional forms of competition in the marketplace, increasing costs, tightening margins, sweeping demographic trends and changes in attitudes, preferences and expectations among a more demanding generation of purchasers of senior living services.”

“Common questions include: Should we transition some of our assisted living into memory care? Should we purchase that new acreage that just became available? Why aren’t we meeting our occupancy goals? Is it our pricing strategy, our marketing plan, or our personnel? What changes are taking place in our service area that are impacting us?”

Reducing Your Risk and Improving Your Odds of Success

Malissa adds, “Although the answers to these important questions for senior living providers might not be immediately clear, one thing is – making high stakes financial decisions without supporting data is extremely risky business. The margin for error is extremely narrow today and the risk of financial loss is often high. The difference between sustainable, profitable growth and failure can be razor thin, making informed, evidence-based decisions a virtual imperative.

“Unfortunately, there have been too many examples of senior living providers investing in plans that had little or no chance of succeeding from the very beginning. While ‘going with your gut’ might work in some life situations, it can lead to devastating consequences in the competitive business environment.

“Fortunately, effective data-based decision-making assistance specifically designed for senior living communities is readily accessible and affordable today. And many provider communities across the country are taking full advantage.

“As an example, in the past year we have conducted market feasibility and demand analysis projects for more than 50 different senior living communities and/or potential projects nationwide. For a very small percentage of a potential project’s overall cost, decision makers receive the information they need to make the right call – whether it’s proceeding with the opportunity, modifying the original plan or choosing not to go any further.”

Big Things Come in Small Packages: Mini Market Assessment Details

SageAge Strategies offers an impressive array of market research programs, tools and subject matter experts to help ensure that your facility and service line investments are successful. One such tool is our mini market assessment reports, or Preliminary Market Demand Assessments.

Says Malissa, “Our highly cost-effective preliminary market demand assessments have become a very popular tool for senior living providers who want a foundation of solid market information for decision making purposes at minimal cost. These reports provide basic competitive market details and demand calculations that provide a snapshot of the market area without investing in the cost of a full-blown market feasibility study.

“An added benefit is that the cost of the preliminary study can be applied to our full market assessment and demand analysis product if a more comprehensive review is desired. The full market assessment offers an in-depth ‘drill down’ into key marketplace information and includes additional research tools such as mystery shopping of all competitors to gauge market potential and recommend a course of strategy.”

Specifically, the preliminary market assessment is comprised of three key areas of evaluation, which include:

  1. Market Area Definition – We evaluate and define the primary market area, taking into consideration geography, common traffic patterns and other relevant features for each specific area.

  2. Competitive Overview – Here we identify current marketplace competitive units in the primary market area and provide information on the number of units and estimated occupancy levels.

  3. Demand Analysis – This involves utilizing industry assumptions to calculate market demand at a range of price points to gauge fee sensitivity in the market area.

All raw demographic data is also provided to the client community.

Adding Clarity to Complex Issues for Our Client-Partners

One of the many senior living providers across the country that has benefited from our Preliminary Market Demand Assessments is Provident Resources Group in Georgia and the Southeast.

Debra W. Lockwood, CPA, President and CFO states, “The Preliminary Market Demand Assessment reports that SageAge has completed for us have not only helped us to avoid markets where we initially believed there might be potential new development opportunity but they have also saved us thousands of dollars in market research costs. This product that they offer has been – and will continue to be – extremely valuable to Provident Village and our new development efforts.

“Additionally, we didn’t always avoid less-than-ideal markets in the past. SageAge has been a solid partner with us in developing effective marketing strategies, even in difficult markets. Their reports have provided us with the foundation of information and direction needed for creating such strategies.”

Providing the Tools and Expertise You Need to Make the Right Decisions

At SageAge Strategies, we help senior living communities nationwide obtain answers and make decisions that are based on accurate data. We provide many proven market research tools such as market assessments, feasibility studies, competitive research, mystery shopping, consumer research and marketing & sales assessments to give you and your community the highest probability of success.

Proven Market Research Expertise to Guide Your Growth Strategy

If you are a senior living community that needs assistance in assessing your competitive marketplace to evaluate strategies for growth, we encourage you to contact us today.

At SageAge Strategies, our market research and integrated marketing professionals excel in identifying opportunities and creating strategies that grow your occupancy in profitable service areas.

SageAge Strategies is a multiple award-winning, strategic growth, marketing and consulting organization that operates exclusively in the unique senior living space. To learn more, please call or email Adrienne Mansfield Straub at 570-601-1720 ext. 100 /

Contact Us Today!

The Importance of Responding to Online Reviews

Did you know: 95% of people consult reviews before purchasing products or services. 88% of consumers are likely to use a business if they can see the business owner responds to all reviews, whether positive or negative. 87% of consumers used Google to evaluate local...

What Are the Housing Restrictions for Facebook and PPC?

As we know, technology is always changing and adapting. It’s something many of those in the senior housing and marketing fields are used to. One of the most recent changes is making a larger impact on how we target ad audiences on Facebook and through pay-per-click...

The Rise of Senior Living Occupancy

As COVID-19 created a landscape of uncertainty in senior living facilities, experts knew there would be challenges and effects that lasted long after. Although the pandemic continues, many types of senior living communities and...

4 Ways TikTok Is Redefining Senior Living Social Media

Whether you’ve heard about it, tried it out, or use it regularly, TikTok is taking the world by storm. This social media platform, which focuses on short-form video, is seemingly on everyone’s mind in one sense or another, and more often than not, people are following...

The Benefits of Working at a Remote Company

Remote working offers many benefits to employees and businesses. Today, more people are working from home than ever before, offering many benefits to both businesses and employees. Remote positions offer employees flexible work schedules and autonomy while keeping...

The Future of Analytics: What Does Next Year’s GA4 Migration Mean?

Moving Forward with New Updates Whether customer needs, viewing habits or website journeys change – or a better reporting tool emerges – one thing is for certain: Technology is always changing, and the field must adapt as a whole. Among the most recent updates include...


Stories of a Lifetime Senior living residents have lived amazing lives. Now, SageAge is on a quest to share those stories with those in the senior housing and senior living industry, residents and their families, adult children and anyone who wants to be inspired....

The Moment We Have Been Waiting for Is Here

WE have been working hard on something new. Check out our new website today!

Pressing Play on New Possibilities | Seniors and YouTube

Putting You In Front-Row View Gone are the days when YouTube was simply for younger generations to view funny videos. In the era of rising senior social media usage and the high engagement of video content, YouTube is becoming one of the largest search engines and...

Seniors and YouTube | Let’s Get Rolling

Exploring the Possibilities of Pre-Rolls Almost 47% of older adults ages 70 and up use their smartphones for social media access, according to our most recent white paper on seniors and technology use. Which social media platforms are most used among the senior age...
Share This