Q2-2024 Lead Source Analysis

BILD analyzed senior living communities inquiries, tours, and move ins from their top 3 lead sources for Q2-2024. 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: 18 different States – 9 U.S Regions

Time Periods Data Analyzed: 4/1/2024 – 6/30/2024

Data Reviewed: Top 3 Lead Sources in Q2-2024

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:

Reviewing all care levels and the top 3 lead sources,

paid referrals averaged 55.6% of the new inquiries in Q2-2024. This is 1.6% higher than Q1-2024, where paid referrals averaged 54% of new leads.

Since 2023, new leads from paid referrals have increased by 6.6%

In 2023, 41.86% of tours were generated from digital sources and decreased to 39.14% in Q2-2024.

Overall, paid referral sources had the highest percent of move ins at 47.77% (increasing 11% since 2023). While digital leads averaged 31.84% of move ins (increasing 7% since 2023).

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 and about 32.5 per month in Q2-2024. This is about 10 more new leads per month, compared to Q1-2024.

Overall, paid referral sources had the highest percent of move ins at 47.77% while digital leads averaged 31.84%, and professional referrals had a 20.39% of move ins during Q2-2024. Professional referrals had a lower lead, tour, and move in amount but had the highest inquiry to tour and tour to move in conversion rates.

Independent Senior Living – Top Lead Source

During Q2-2024, in Independent Living, paid referral sources had the top new leads, tours, and move ins counts. 75% of new leads, 76% of tours, and 59% 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.

Assisted Living/Memory Care – Top Lead Source

During Q2-2024, in Assisted Living and Memory Care, digital sources had over 88.9% of new leads and 86% 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. Q2-204 leveled out similar to Q1 at 56% of move ins from paid referral sources.

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