November 6, 2024
Introducing A New Prospective Resident Profile
As we look to the future, one demographic stands out as both a challenge and an opportunity: the solo ager. These are older adults who live alone, without the traditional support structures or children to rely on as they age. In the U.S., approximately 22 million solo agers make up 28% of the older adult population (MI_FlyingSoloReport). For senior living providers, targeting this group effectively is crucial – but it requires a different approach. This is where the power of predictive analytics comes into play.
Predictive analytics allows us to understand the unique needs, preferences, and behaviors of solo agers. This enables us to craft personalized, engaging marketing strategies for this overlooked yet growing demographic. By using data to predict their needs, we can create a more supportive, inclusive senior living environment, drive occupancy rates, and improve care models.
The Unique Needs of Solo Agers
Solo agers face distinct challenges compared to their counterparts who have family support. They are more likely to experience loneliness, have lower life satisfaction, and face difficulties accessing informal caregiving resources (MI_FlyingSoloReport). Many solo agers express concerns about maintaining independence, mobility, and social connections as they age (MI_FlyingSoloReport).
Dr. Sara Zeff Geber, author of Essential Retirement Planning for Solo Agers and a leading authority on solo aging, offers insights that enhance the understanding of solo agers’ unique needs. “As the last of the baby boomers enter retirement, planning for the health and wellness of solo agers has never been more important,” she states, citing research that shows:
- Over 22 million adults over 55 live alone.
- Over 17% of baby boomers do not have adult children; almost twice the rate of all previous generations.
- Over 22% of older adults are estimated to be at risk due to a lack of family or spousal support.
However, solo agers are a diverse group. Some may have higher disposable incomes, while others may face financial challenges. Some are tech-savvy, while others may prefer traditional forms of communication. Understanding these nuances is critical to effective targeting – and that’s where predictive analytics shines.
Leveraging Predictive Analytics to Build Solo Ager Profiles
At ADage, we develop predictive analytics profiles that go beyond demographics. Our personas are crafted using a combination of behavioral, psychographic, and motivational insights. For solo agers, this means understanding not just where they live or how old they are, but also their attitudes toward aging, technology, financial planning, and community involvement.
For example, our predictive analytics tools can segment solo agers into categories such as:
- Tech-Enabled Solo Agers: This group is more likely to be engaged with digital marketing campaigns, virtual wellness programs, and smart home technologies (MI_FlyingSoloReport).
- Community-Driven Solo Agers: These seniors are more likely to engage in community living that offers robust social programs and flexible care options (MI_FlyingSoloReport).
- Financially Conscious Solo Agers: Those who are concerned about the affordability of senior living and may very well benefit from messages around creative financial solutions (shn-slfs-wp-newera).
Each of these personas allows us to tailor marketing messages, care models, and service offerings to meet their unique needs. For instance, tech-enabled solo agers would be more responsive to campaigns that highlight technology integration in senior living. This includes features such as AI-driven care and smart home features.
Expanding on the Concept of an “Influencer” in the Senior Living Buying Journey
The traditional “influencer” in senior living often refers to children who help make decisions for their aging parents. However, recent data from one of the nation’s top 10 senior living operators reveals that this narrative is evolving. While children still play a critical role, other influencers are becoming increasingly important.
According to data the ADage team uncovered:
- Daughters and sons collectively make up a significant portion of influencers (33.87%), with daughters representing 19.87% and sons 14%.
- However, other influencers such as friends (2.16%), siblings (2.33%), powers of attorney (0.74%), and significant others (0.32%) are emerging as key decision-makers in the senior living journey (shn-slfs-wp-newera).
In total, 60.9% of prospects rely on influencers – a mix of children, relatives, friends, and legal representatives. Meanwhile, 39.1% of prospects are making decisions for themselves. For solo agers, this is a particularly critical insight. With fewer familial influencers, senior living providers must expand their understanding of influence and engage the entire support network.
This shift calls for a more nuanced approach to marketing. Predictive analytics enables us to identify these non-traditional influencers and create targeted strategies that also resonate with them. By engaging friends, siblings, or even legal guardians in marketing campaigns, senior living providers can build trust with the broader support networks of solo agers. This ensures that the decision-making process is inclusive and aligned with the unique circumstances of each individual.
Targeted Marketing: Engaging Solo Agers with Precision
Predictive analytics doesn’t just help us understand solo agers – it helps us engage them. By analyzing data patterns, we can predict which marketing channels and messages are most likely to resonate with different segments of solo agers and their influencers. This means delivering highly personalized content, at the right time, through the right channels.
For instance:
- Digital Campaigns: Tech-savvy solo agers are more likely to engage with digital marketing campaigns. Predictive analytics helps us target these individuals with online ads that highlight features like telehealth services, smart home technologies, and virtual wellness programs.
- Community Events: For community-driven solo agers, we can predict the kinds of social and wellness programs that will appeal most, such as volunteer opportunities, fitness classes, and group outings.
- Financial Education: For those who are financially conscious, predictive analytics can help us tailor marketing materials that focus on affordability, including options like sliding scale fees, rental subsidies, or payment plans. This removes the financial uncertainty that often prevents solo agers from exploring senior living (shn-slfs-wp-newera).
Optimizing Care Models for Solo Agers
The value of predictive analytics extends beyond marketing – it’s also a game-changer in designing care models. Solo agers, especially those without a strong support network, may require personalized care plans that address both physical and emotional needs. Predictive analytics can help anticipate care needs based on data from similar individuals, enabling senior living communities to provide proactive, rather than reactive, care.
For example, data on a solo ager’s health conditions, mobility, and lifestyle preferences can help create wellness programs that promote independence while offering the right level of support. Additionally, predictive maintenance can help communities stay ahead of potential issues in areas like healthcare, safety, and facility management (MI_FlyingSoloReport).
Data-Driven Solutions for an Inclusive Future
As the number of solo agers grows, senior living providers must adapt to meet their unique needs. Predictive analytics offers a powerful tool to do just that. By leveraging data, we can not only target and engage solo agers more effectively, but also provide them with the support, care, and community they deserve.
At ADage, we’re at the forefront of using predictive analytics to create data-driven, people-centered solutions that enhance the lives of seniors. Whether it’s crafting personalized marketing campaigns or developing innovative care models, we believe that the future of senior living lies in predictive, personalized, and proactive approaches.
Let’s harness the power of data to build better, more inclusive communities for all.