Q1-2024 Lead Source Analysis White Paper

Author:

Traci Bild

Date Posted:

July 11, 2024

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Q1-2024 Lead Source Analysis White Paper

BILD analyzed senior living community’s inquiries, tours, and move ins from their top 3 lead sources for Q1-2024. The top sources for the communities analyzed, were paid referrals, professional referrals, and digital sources. This study targets multiple states in the U.S. Below is the executive summary and key findings.

Target: 19 different States – 9 U.S Regions
Time Periods Data Analyzed: 1/1/2024 – 3/31/2024
Data Reviewed: Top 3 Lead Sources in Q1-2024
Lead Source Category Definitions:

  • Paid Referral Sources: A Place For Mom (APFM), Care Patrol, Caring.com, Referral Agency, Senior Advisor
  • Professional Sources: Agency/Association, AL, Attorney, Case Manager, Home Health, Hospice, Hospitals, Nursing Home, Others.
  • Digital Sources: Direct Traffic, HubSpot, Organic Search, Paid Social, Paid Search/Google, Website, Internet, Roobrik, TalkFurther, VSA, Other Campaigns.

Below is a summary of the key findings:Lead Source Analysis
Reviewing all care levels and the top 3 lead sources, paid referrals averaged 54% of the new inquiries in Q1-2024. This is 1% lower than Q1-2023, where paid referrals averaged 55% of new leads.

Overall, in 2023, 49.4% of new leads are from paid referrals, while 43% of new leads are from digital sources. Paid referral inquiries are increasing comparatively this year versus last year. In 2023, 41.86% of tours were generated from digital sources and we are seeing a similar trend in Q1-2024 as digital tours are at 40.57% and 47.33% of tours came from paid referrals.

Average Number Of Leads By Sournce

Paid referrals such as A Place For Mom, Caring.com and other paid referral agencies averaged 23.9 new leads per community per month during Q1-2024. This is about 4 more new leads per month, compared to 2023.

Percentage Of Leads By Source

Overall, paid referral sources had the highest percent of move ins at 48.56% while digital leads averaged 34.53%, and professional referrals had a 16.91% of move ins during Q1- 2024. Professional referrals had a lower lead, tour, and move in amount but had the highest conversion rates.

Independent Senior Living – Top Lead Source

During Q1-2024, in Independent Living, paid referral sources had the top new leads, tours, and move ins counts. 70% of new leads, 66% of tours, and 61% of move ins were from paid referral sources. Previously, in 2023, digital leads topped the highest number of inquires, tours and move ins. In 2023, Paid referrals reflected 48% of new leads, 20% of tours, and 11% of move ins.

Independent Living Lead Sources

Assisted Living/Memory Care – Top Lead Source

During 2023, in Assisted Living and Memory Care, digital sources had over 73.6% of new leads and 62% of the initial tours. Compared to Q1-2024, digital sources were 98% of the new lead sources for AL/MC and 94% for tours.

Paid Referrals for Assisted Living and Memory Care combined had the highest number of move-ins in 2023 at 49% of the move ins and this increased in Q1-2024 to 54% of move ins from paid referral sources.

Assisted Living Memory Care Lead Sources

**Color is either red or green based on category being higher or lower than previous quarter.

Total Conversions For Q1

About the Author: Traci Bild

Avatar Of Traci Bild
Traci Bild, Founder of BILD & Co and BILDX, has revolutionized the senior living industry for over two decades. Her innovative sales and marketing strategies have positively impacted 80% of the top 100 senior housing operators in the U.S., U.K., and Canada. An accomplished author of four books, including "Zero Lost Revenue Days," Traci's expertise is frequently featured in CBS Sunday Morning News, Wall Street Journal, BBC, Senior Housing News, and McKnight’s Senior Living. Her firm, BILD & Co, is a Great Place to Work and ranks among Inc. 5000’s Fastest Growing Private Companies.

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