Informative Educational Industry Beneficial Articles
We add a monthly informative article to help you really stay on top of the market. This in combination with the Retirement Dynamics blog, chart
of the month and our recommended readings will keep you well informed of all the latest market trends.
Covid 10 Sentiment Report:Webinar Series #2 Marketing & Sales Strategies During a Pandemic
The session will build upon results and recommendations from the national survey as well as timely strategic marketing and sales techniques.
Learning Objectives for the Session
- Using the results from the National Survey, learn how to identify the most important and compelling marketing and sales issues at your community.
- Learn how to ask the ‘right’ questions at the ‘right’ time with prospective residents?
- Learn how to identify ‘needs’ of prospective residents.
- Learn techniques and best practices to best relate to prospective residents.
Our “Why” Behind the Survey
- Provide a platform for older adults to have a voice
- Opportunity for staff and front line heroes to share their experience
- Hear from prospects about the pandemic and whether it had an impact on their decision to move
- Understand the level of social isolation during shelter in place
- Change the Narrative
- Adjust operations to enhance the environment and experience
- Strengthen the marketing message
- Strengthen the recruiting efforts
- Residents or Members (referred to throughout the report as simply “residents”)
- Prospects (those who had contacted the community because they were interested in possibly moving in or being put on a waiting list (“prospects”)
- Senior Living Employees (“staff”).
- A total of 23,665 surveys were sent to senior living community residents, prospects, and staff.
- Surveys were distributed digitally using Qualtrics® and in hard copy.
- Digital surveys were in the field from June 22, 2020, to July 6, 2020.
- Paper surveys were in the field from June 22, 2020, to July 23, 2020.
- A total of 5,002 surveys were returned, representing a 21.1% overall response rate.
- Of the 5,002 returned surveys, 80.6% (4,032 surveys) were digital and 19.4% (970 surveys) were hard copy.
- Older adults living in or considering a move to senior living (55+ years).
Executive Summary of Results Marketing
- 93% of residents (almost 3,000 in total) felt the community took all precautions to keep them safe, and 75% of residents agreed that they were “glad to be living in a community during the pandemic”
- 61% of residents feel safer in community versus being in their previous home, in contrast to more than 68% of prospects who felt safer at home than in a community (it’s important to note that a resident is answering this question in the context of both having lived at home and in a community, where as the prospects may not be able to compare both experiences)
- 58% of prospects were “not worried about living at home during the pandemic” and 67% “felt
- Write ins noted a significant amount of fear related to congregated living and how the community would suppress their agency in choosing how to respond to risk
- 61% of prospects “felt socially isolated during shelter in place” compared to 60% of residents; unsurprising, given that prospects didn’t have the restrictions on the comings and goings of residents and visitors the way that communities did for the safety of all residents
- 86% of residents are glad they made the decision to move to a community
- 57% of prospects were glad they made the decision to stay at home, and 35% felt unsure of their decision
- 89% of prospects strongly felt they were “able to leverage technology to maintain connectivity with friends and family during the pandemic,” as compared to residents at 47%
- Technology will be a significant area of improvement for providers if they want to attract prospects to their community because prospects will not want to have less access to technology than they have in their own homes
- Write ins called out appreciation for videos of what life was like at the community during quarantine, sales staff explaining COVID 19 plans, and regular reports about infection rates. In sum, prospects felt that “sharing as much detail as they can with us would be informative and reassuring.”
- 60% of prospects felt fearful of shopping
- Many prospects were overwhelmed by additional menu planning, prep, cooking, and cleaning as they remained at home. Is this a creative marketing opportunity for outreach to your prospects?
Marketing & Sales Solutions
Glad made the move
- 77% of residents agreed they were glad to be in a community during the pandemic.
- 86% reported they were glad they made the decision to move to a community.
Timeframe to move
- 74% of prospects reported their time frame to move has been unchanged by the COVID 19 pandemic
- 25% of prospects said the COVID 19 pandemic had shortened their time frame to move to a community.
FIND these prospects!
- “Acres of Diamonds
- 68% of residents felt socially isolated
- 61% of prospect felt socially isolated
- 61% of residents felt safer in communities versus being in their previous homes
- 93% of residents (almost 3,000 in total) felt the community took all precautions to keep them safe.
- 85% of staff agreed that the residents ‘are safer in the community than in their previous homes.’
Improvements needed Lifestyle
Residents generally gave low marks for alternative recreation and activities.
- Residents gave communities low marks for variety and quality of food and meal options
- 60% of prospects felt fearful of shopping
Fear of Congregate living
Prospect write ins noted a significant amount of fear related to congregate living and how the community would suppress their freedom in choosing how to respond to risk.
- “Isolating people is not good for them mentally or physically. Electronic devices are NOT a good substitute and are often too complicated for most older people to utilize.”
- “Worst images we’ve seen are the stories of people our age and older essentially being imprisoned in senior communities, kept in their rooms, denied visitors and even the chance to get out into the fresh air, and (most terribly) dying alone, with their families unable to be with them.
Loneliness and social isolation
- How did they feel living at home?
- What did they do to combat social isolation?
- What did your Community do to combat loneliness and social isolation? In the future?
Etiquette/Customer Service/Hospitality improvements
Do You ‘Really’ Need More Leads?
Stephen Covey: Seek first to understand….then to be understood. You Don’t Know What You Don’t Know Unless you Ask!
- What are the right questions to ask?
- Ask questions that will elicit their responses, not what you want to sell them.
- They are more concerned about their ‘survival’ than hearing about your community.
- Ask questions that get them talking about what’s really important on their minds that’s all that matters.
- Don’t BURN your leads using the same sales strategies and tactics prior to COVID 19 pandemic.
- What are the BEST Questions to Ask? PDF Download
- What are your ‘new’ value propositions , knowing what you know now about your residents and prospects?
- Adjust your value proposition what did the survey tell you about what your residents, staff and prospects think and feel?
- What will you do differently ‘if’ COVID 19 returns.
- What sets you apart?
- What’s the one thing you ‘own’ that no one else can claim?
- Leverage it make people remember your community
- How to UNLEARN blanket ‘quarantine ’
- One size does not fit all
- Etiquette/Customer Service/Hospitality raise the bar
Phone calls- Unlearn the ‘old’ questions
- Be strategic
Reassure prospects what your Community did or is still doing to keep residents safe
- Life Enrichment activities and engagement
What changes have you made to ‘open’ your community?
Embrace change, but remember the basics!
Closing sales is a result of GREAT DISCOVERY!
Clarify the circumstance: Why, When, Circumstances
- Current Situation
- Financial Qualification
- Clarify all Decision Makers
- Be aware of different personality styles and adjust your presentation accordingly:
People are in need of a listening ear now more than ever…
Elements: Build Trust Empathy Sensitivity Listen Paraphrase
Open ended Questions : (Use to discover, gather information and to instill conversation)
- In what way…
- Tell me about…
- Tell me a little bit more about…
- Can you share with me…
- Can you clarify what you mean by….
- What are your thoughts…
- How do you feel about….
“What is that you are looking to change about your current living situation?”
“Tell me about your current living situation… are there things you are looking to change?”
“What is it that you like about where you are living now?”
“What does your ideal living situation look like?”
“What brought you in to inquiry about _______________today?”
“What is it that is most important to you?
- Does that make sense?
- How do you feel about?
- It seems that_________ is very important to you…
- What do you think about?
- What is your next step?
“Do you have any thoughts or questions about what we discussed?”
“Does the financial aspect of what we discussed make sense to you?”
“What do you think about Unit A vs. Unit B?”
“What are your thoughts after touring today?”
“What is your timing? Do you have a time frame in mind of when desire to move?”
Closing Sales is a result of GREAT DISCOVERY!
Trial Close– Involves asking a buyer to make a decision on a minor point. It measures where the buyer is in terms of making a final buying decision. When to use:
- After a benefits statement
- When you recognize a buying signal
- After overcoming an objection
- Anytime significant interest in a particular feature
Assumptive Close -a request that the buyer make a decision or commitment.
Summary Benefits Close– Bring back all the facts learned in the discovery phase. Reminding the buyer of what they told you as to why they came in the door and tying their needs to the benefits of the cooperative lifestyle.
Concession/Inducement Close– Offering something extra for immediate action. May be used when price is a critical issue when there is no compelling need to close immediately or when there are a number of units to choose from.
Direct Appeal Close– Asking for a commitment in a straight forward manner. Best to use when there is definite interest from a potential buyer.
Narrative Close– Involves a third party story…telling a brief, true story that illustrates how acting immediately is appropriate. (Ex.) Your situation is similar to…
Follow up with a personal touch…Send personal note, something meaningful to the individual you just spent time with and got to know…