The U.S. Small Business Administration (SBA) recommends that small businesses (those with revenue under $5 million) should designate between 7 and 8 percent of their total revenue to marketing. In their 2021 annual survey of chief marketing officers (CMOs), consulting firm Deloitte found that marketing budgets were averaging roughly 11.7 percent of most businesses’ total [...]
A CCRC that is poised to thrive in the long-term should have an up-to-date marketing and strategic plan in place. And to create such a document, the CCRC provider must have a deep understanding of the size, needs, and preferences of their target demographic. Here are a few of the areas where I believe the senior living industry will see the biggest changes in the years ahead as they strive to appeal to newer retirees.