Strategic customer profiling for Adlington Retirement Living.
Redefining a specific customer profile for effective marketing campaigns that increases ROI within the retirement living sector.
Adlington Retirement Living, an award-winning developer of retirement living apartments with care opportunities, was established in 2009. As the landscape of retirement and senior living evolves, and the UK’s population continues to age, the demand for high-quality retirement villages and communities will continue to grow. It is projected that by 2030, the number of over 65’s will grow to over 15 million – over 2.4 million more than today. Precision aimed to adapt their marketing strategies to engage the changing expectations and landscape of this sector.
Over the past decade, those aged over 65 are the group to have experienced the greatest increase in their household wealth, with a rise of 96%. They are living longer, are fitter and expecting a lot more out of life than their predecessors. This has completely altered what ‘retirement living’ looks like and prompts a shift in property marketing aims. Therefore, Adlington needed to shift its approach to align with the evolving needs and preferences of its target demographic.
Defining the right customer profile
The challenge was to define the 'right' customer profile for targeted direct mail and email campaigns, driving potential customers online and into marketing suites. Precision implemented a customer profiling strategy using Acorn, a powerful consumer classification system that analyses demographic data, social factors, population, and consumer behavior. By leveraging Adlington's historical customer and inquiry data, Precision identified key attributes using Acorn to segment the UK population into 11 categories that aligned with Adlington's sales and inquiry data. This process allowed for a more precise definition of the target audience.
Working in collaboration with marketing, technology, and data specialists CACI Ltd., Precision's data teams ran Adlington's customer data through Acorn to create a data pool of prospects matching the attributes of existing customers. The refined audience was then overlaid on Adlington's target areas, resulting in a more defined and responsive customer base. Targeted direct mail counts were conducted using key variables, such as target age, tenure, and property value.
Improving ROI on retirement age marketing
The Acorn profiling not only helped define the target audience but also identified customers who were enquiring but did not fit the target audience due to the retirement living requirements. By reducing the campaign audience by 2,950 households, Precision achieved a better conversion rate and a significant cost-saving of £2,891 on a single project. This strategic approach enabled us to support future marketing decisions for Adlington, ensuring a more effective allocation of resources in subsequent campaigns.
Precision's customer profiling strategy through leveraging Acorn proved instrumental in optimising Adlington Retirement Living's marketing campaign. The insights gained not only reduced campaign costs but also improved conversion rates. This data-driven approach provides valuable lessons for similar situations, emphasising the importance of continuous analysis to adapt to evolving demographics and optimise return on investment in marketing efforts within the retirement sector.