Jeff House, Principal and Director of Research
Posted: Tuesday, May 28, 2013
Tour or Detour
A rose by any other name might smell as sweet, but if you’re selling to seniors, giving a "tour" still stinks. It’s one-sided. It’s about features instead of benefits; it’s about what you want to sell, not what your prospect wants to buy. To build a trusted advisor is a relationship, you’ve got to get to know each other, and a tour won’t help.Read Full Entry
Posted: Thursday, May 09, 2013
This Concerns You
Conventional wisdom says that long-term health care is one of the major attractions of a retirement community, but we wanted more detail so we asked almost 1,000 households (more than 1,500 individuals) which aspect concerned them most: the quality, cost, or accessibility of long-term care. The results were unmistakable.
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Posted: Wednesday, October 17, 2012
Conservative Research: Does the Shoes Really Fit?
Retirement DYNAMICS, Inc. takes pride in providing objective advice. This strength offers more value in our market and consumer research engagements than anywhere else.
Most developers have an idea of what product and services they are considering firmly in mind when we meet them. Before the question of market research discussion begins, options for locations, architectural opinions of what can be built on that acreage, and even pro forma financials that detail the fee structure and health care offerings are often in hand. We have nicknamed similar research engagements “Cinderella Slipper Studies,” in that our client (the Prince) already has the “slipper,” and is only trying to see that it fits the foot. This type of study is the norm and is more affordable than the alternate approach, which would be to find the opportunity in the market first, then find land, draw up an architectural plan, and create a business model that serves that opportunity.Read Full Entry
Posted: Wednesday, October 10, 2012
Recommitment + Energy = +400% Sales Increase!
Stephen Covey stated, “Knowing we’re off track is really an invitation to realign ourselves with True North (principles) and recommit ourselves to our destination.” Let’s face it, today’s selling environment is challenging. Yes, we are past the downfall of 2008, but selling retirement housing will never be the same, and the old way of doing things is not to be repeated again. It takes a recommitment to our communities and in ourselves to ignite the sales engines again and to refocus our efforts in new and unique ways.Read Full Entry
Posted: Wednesday, October 03, 2012
Trezevant: Sales Overdrive
Trezevant enjoys a long history as the only faith-based and CARF certified CCRC in Memphis. The Trezevant team just completed a seven year period of expansion and renovation that added over 90 new luxury residences and over 100 new healthcare accommodations to the 15-acre campus. While many communities that share Trezevant’s higher entrance fees have struggled to remain at 90% occupancy in the past few years, Trezevant has found a way to fill up the new expansion and refill the older apartments that were also affected by construction.Read Full Entry
Posted: Tuesday, September 25, 2012
$8M Reasons to Listen to Your “Wait List”
Retirement DYNAMICS, Inc. has been proud to be a part of the Virginia United Methodist Homes, Inc. team. Among other corporate responsibilities, RD was charged with increasing occupancy at Cedarfield, an upscale Type A community in the competitive Richmond, Virginia market. Cedarfield has a wonderful 16 year history in that market, but was having challenges with converting the 500 families on their “Priority Wait List” to move-ins.Read Full Entry
Posted: Monday, May 07, 2012
Whenever God opens a door, he closes a memory
We've all had the experience of leaving a room with a purpose in mind only to arrive in the new room empty-minded, and we blame distraction, fatigue, age, ADHD or all of the above. Recent research from the University of Notre Dame proves that walking through a doorway tends to make people forget. It's normal and somewhere between widespread and universal. It's even true with the "virtual tours." And it's the doorway that matters, not the door, so the old trick of removing doors in model units may make rooms look bigger, but it won't help recall.Read Full Entry
Posted: Friday, March 23, 2012
Using Science to Sell to Seniors
Older people make decisions differently.
While there is no scientific research with uncontested conclusions, there are some large areas of general agreement about how decision making changes as people age. Some of the research offers findings that you should know – and take advantage of – if you're going to sell to seniors. Use this information to prevent obstacles and play to their strengths as you help them work through a complicated process.Read Full Entry
Posted: Tuesday, February 07, 2012
The Cow in the Convertible
In community presentations and focus groups people often ask Retirement Dynamics, "What's the best deal: a Lifecare or fee for service retirement community?" or "Is it better to pay a smaller entrance fee or get a refund?" These questions are often another way saying "I'm not ready yet." Here are some ideas to help people get themselves ready to make a decision they will be happy with.
Retirement communities are like any other business: they cost what they cost. There are no bargains: best will always cost more than worst, but that doesn't mean all communities are created equal for you. The good news is that there are 2,000 retirement communities from which to choose, and often you have more than one important choice within the same community.
If you begin by picking the "best deal" you are likely to end up carrying cows in your convertible. Yes, you could make that work, but you wouldn't be happy with the results.
Before you think about the "deal," think about what would be a successful retirement for you. First, decide which characteristics matter most to you. In the list below, the easiest questions are listed first. Do this homework before you start the field work of visiting communities and reading brochures.Read Full Entry
Posted: Tuesday, January 31, 2012
Have You Walked Your Community Recently?
When was the last time you drove into your community and actually walked the path that your prospects walk every time they visit? When was the last time you walked the halls where they walk to see your major amenities? Better yet, what might you find if you came for a "Guestpitality" overnight stay in one of your guest rooms?
Sometimes we just don't see the forest for the trees. Sometimes we need a wake-up call!
Here's a list of items to spot consider as you walk around:Read Full Entry