Category: Seniors Housing

“What’s in a name?” This line from Shakespeare’s “Romeo and Juliet” has sparked a debate that has lasted for centuries. How important is a name—whether you’re a person, a business or a Continuing Care Retirement Community?

According to a Forbes article, four signs of a great business name are that you can pronounce it, it’s not too long, it’s straightforward, and it’s catchy. “Continuing Care Retirement Community” falls short on at least two of those fronts.

That’s one reason for “CCRC NameStorm.” In this national study, a task force is researching perceptions of the label “Continuing Care Retirement Community” and investigating alternative wording that would describe our communities more accurately—and appealingly. Varsity is on the NameStorm task force, along with LeadingAge, Mather Lifeways, GlynnDevins, SB&A, Brooks Adams Research, and Love & Co.

In the NameStorm study, quantitative and qualitative research is being conducted across the country with CCRC residents, prospects and staff as well as the community at-large.

If you plan on going to LeadingAge PEAK in Washington, D.C., March 16-18, 2015, we encourage you to attend a special session about CCRC NameStorm: “What’s in a Name: a Look at the CCRC Label,” which will provide insights on the current progress of this study.

The term “Continuing Care Retirement Community” was coined quite a few years ago when this type of organization was just taking shape. Now the senior living industry is seeing the next generation of retirees react negatively to an idea of a “care” facility.

I’m sure you have experienced that negative reaction, just as we at Varsity have. Part of the issue is that the CCRC label is focused on only one piece of the story—the care piece. It’s easy for the active Boomer retiree to say, “this isn’t for me.”

As part of CCRC NameStorm, we have conducted focus groups with prospective and current resident groups at Homestead Village, a community in the heart of Lancaster County in central PA. We’re thankful to our very good clients in one of the country’s most densely populated CCRC markets for opening their doors and sharing their honest opinions. So far, we’ve found that people are excited about the possibility of a name change, but it’s a change that needs to be carefully considered. (Remember Radio Shack becoming “The Shack”?)

This will be an ongoing discussion, and it will certainly be an interesting one. We hope you can make it for the session at LeadingAge. If not, check back on the Varsity blog. We’ll be continuing to post the progress of the NameStorm study.

As a seasoned senior living sales professional, have you fallen into the habit of giving a routine “tour” of your community that you could do in your sleep? You know — “Here’s the living room, here’s the dining room, here’s the washer/dryer; the pool is over there” — basically ticking off the features like a real estate agent and maybe throwing in a few benefits here and there. How do you avoid falling into the trap of giving a canned sales pitch that is not very effective in connecting with your prospect and that even bores you?

Persuading someone that moving to your community is the right decision requires a deeper level of communication. He or she may be thinking, “This is the last place I’m going to live.” It’s a very emotional decision, so you need to do more than just provide information. You need to get into that person’s head and learn what he or she values in life, because values guide our judgments, actions and important decisions.

Visual Clues
The process of discovering a prospect’s values can start even before he or she walks in the door of your community. Look out in the parking lot to see what the person is driving. Is the car sturdy and dependable? Is it expensive and possibly a status symbol? Is it sporty and fun? A car can speak volumes about its owner.

Once the prospect walks in, you can continue picking up subtle clues. Observe his or her appearance and dress, listen for words and phrases that reflect his or her values, and watch his or her body language. Take note of whether the person is decisive or indecisive, impulsive or cautious.

Probe to Discover Values
Pose questions that get the person talking, and really listen to the answers. Ask about his or her past or current career, interests and hobbies, family and the decision-making process. I like to ask, “What is a typical day in the life of Jane Doe like?” Or, “If you could do anything you wanted right now, what would it be?” Based on the answer, you may find out that the person is adventurous, intellectually curious, family-oriented, health conscious or a status seeker. And, even more important, are the questions he or she asks you.

Once you’ve gleaned some insights into your prospect’s values, focus on benefits that resonate with him or her, and don’t over-emphasize those that don’t. For instance, don’t go overboard selling the pool, fitness center and personal trainer to someone who doesn’t value health and fitness. He or she might be thinking, “I’m going to pay for something I’ll never use.”

Here are just a few examples of “values” portraits and ways you might connect with each. (Most people are a combination of more than one.)

HEARTH AND HOMEMAKERS
These are typically women whose career was raising their children and caring for the family home. They feel attached to the home, and leaving it and the memories created there is very emotional for them. They may feel a need to consult their children on the decision. They may also be considering a move to be closer to family.

How to connect: Highlight amenities, such as built-in shelves and wall space for family photos and mementos; a second bedroom for visiting family members to spend the night; and the private dining room for family celebrations. Tell a story that will resonate with their values: “Can you imagine hosting Thanksgiving dinner here in the private dining room, then being able to relax and enjoy coffee and dessert with your family without needing to wash a mound of pots and pans?”

FISCAL CONSERVATIVES
A large subset of the current generation of senior living prospects, they are careful shoppers who value financial security. High entrance fees may give them sticker shock, but if they see value, they will buy.

How to connect: Explain the value of the CCRC model by comparing the costs of home ownership and retirement community living (do this exercise prior to your meeting to ensure that the results are favorable for your community). For communities with a Type A Life Care agreement, share tangible comparisons of costs for skilled care with and without Life Care. Try this: “Do you know what skilled nursing care costs today? Have you ever heard stories of people who spent their life savings in a nursing home? Let me explain how Life Care might prevent that from happening to you.”

IN-CHARGE INTELLECTUALS
This group is attracted to intellectual pursuits, prestige and status. They may be leaders in their own communities, serve on a board of directors, read avidly and travel frequently. They want to maintain their independence and live life on their own terms. They do not have an emotional attachment to their homes—it’s just a place to hang their hats while pursuing their true interests.

How to connect: Mention that your community is “the leader,” “exceptional” or “the best around.” Say things like: “You can just lock the door and go, knowing that your home will be safe while you are away, and nice and clean when you return.” Perhaps see if they have an interest in serving on the resident council.

Next time you have a sales appointment, throw away that canned script, and focus on the person in front of you. Ask probing questions that will uncover his or her life values, so you can present your community in a way that connects with those values.

Grown Up Advertising is authored by our creative director and industry veteran Stephen Gordet, and covers the do’s and don’ts of talking to the mature market.

One of the most difficult aspects of retirement community marketing is that no one wants your product. Have you ever heard anyone say, “I can’t wait until I’m old enough and infirm enough to move into a retirement community!”? Probably not.

Most seniors begin to consider a senior living community after a medical event such as a fall or serious illness, or a life-changing situation like the death of a spouse or a sudden inability to maintain a home.

Every sale involves an attitude change. Prospects need to be convinced that the move to a retirement community will allow them to not just be safe, but to experience a fulfilling and rewarding life. We need prospects to come out to the community on multiple occasions, experience the social opportunities, enjoy the meals, and envision for themselves the possibilities of a fulfilling life there.

This can only happen over time, which is why our on-staff sales consultant, Maura Richards, tells us that it takes an average of 20 “intimate touches” to actually close a sale. So when we develop advertising, we incorporate not only branding, but also event marketing to get prospects out to the community as frequently as possible, along with special offers to create a sense of urgency.

Please take a look at the ad above that we created for Covenant Village of Florida. Our strategy is reflected in the branding. Based on our research, we knew that strongly faith-oriented individuals would be most attracted to this community. We wanted to target them, but not to the exclusion of others. The “covenant” language and concept that we developed did just that.

Then we added tactics: We promoted frequent on-site events that were of particular interest to seniors, getting them out to this beautiful community. Finally, we developed urgency through strong calls to action emphasizing the limited number of apartments and special move-in offers.

We implemented our plan through print, direct mail, paid search, specialized Web landing pages, and strong public relations and earned media components.

The result: We met and exceeded occupancy goals. Our success proves that, as in football, a correctly focused strategy and perfectly executed tactics give you a winning game. Contact us if you’re interested in receiving a full case study for more detail.

MARKETING INSIGHT: A perfectly crafted strategy isn’t enough. Carefully consider what is tactically necessary to close the sale.

We’re not referring to retirement communities, but rather the actual towns, cities and suburbs that are facing an aging tidal wave, and are still woefully unprepared to meet the needs of the growing senior population. A large number of older adults and around half of adults under the age of 60 still believe the areas where they currently reside have few to no preparations in place for the future, according to a new survey released by the National Council on Aging (NCOA).

The new survey, produced by NCOA, UnitedHealthcare and USA Today, showed that seniors have maintained a positive outlook in terms of their future and the aging process in general. When it comes to their health, most express little concern about their current health status, and not surprisingly, many report not investing in activities that are important to help manage their health for the long-term.

On the financial front, most seniors surveyed expressed a comfort level with their current financial situation, but are somewhat concerned about the financial impact of living longer. More than half of respondents (53%) said they are concerned about whether their savings and income will last the rest of their lives, while 33% were not concerned.

Both retirees and those retiring in the near future intend to rely on Social Security as their main source of income, shown in the survey as 43% and 41% respectively. Nearly 19% reported difficulty in affording living expenses, based on their current income and savings.

Community support was another issue altogether. Most seniors (71%) agree their community is “responsive to the needs of seniors.” But only around 30% of people aged 60 and older don’t believe the community is prepared to meet the future needs of an aging population, and a full 45% of those 18-49 don’t believe communities will be prepared to meet those needs at all.

Friends and family remain constants: seniors also say that staying connected with family and friends is important to maintaining a high quality of life.

You can read the executive summary report from The United States of Aging Survey here.

MARKETING INSIGHT: As far back as 2005, aging population studies were showing that while many communities have some programs to address the needs of an aging population, very few have a comprehensive assessment of what it would take to make their community “elder friendly.”

That’s also reflected in the retirement living industry, where there’s currently a major gap between family expectations and changing resident needs, and an industry completely unprepared for the “next generations.”

There needs to be a better way to educate the public on planning for the future, about their living accommodations and unexpected illnesses that are sure to increase as the population ages. Likewise, smart communities and the retirement living industry will need to find ways to inform their current residents – of all ages – on what products and services are available to help them, and how to access them. Click here for a “community checklist,” courtesy of About.com.

Regards,

The Varsity Team

In the past year alone, we’ve seen a number of online research portals dedicated to helping find and review senior care options, and an even larger number of apps dedicated to everything from specialized caregiving to therapy plans. Now, one company is combining the best of both platforms.

Dallas-based New LifeStyles recently launched an iPhone app that displays senior living options in a given geographical area. A geo-mapping feature allows users to see nearby resources based on a current location, and tailor their searches to a specific region or even type of care – CCRC, assisted living, skilled nursing or memory care. Communities and services types are identified by a color-coded system, and users can receive directions on a map, visit a Web listing, and can even contact a community by calling or emailing directly from the app.

Doug Fusella, New LifeStyles president and COO, elaborated on the technology in a company press release: “An individual’s search for a qualified senior living community often begins with a sudden loss-of-health event that injects urgency and confusion,” he says, “often resulting in poor and costly choices. Even when there is time for a leisurely review, the attempt to make viable comparisons can seem bewildering. With these new digital channels, users can make fast and well-informed decisions from anywhere.”

User guides are available in printable and digital PDF versions, and for those who (still) have not gone mobile, a free app site is accessible from a standard computer. Users can locate links to other pages and websites, and can email pages from the digital guide to friends and family members.

Necessity was the mother of invention, according to company history. New LifeStyles was founded in 1987 by Les Blaser who, after a frustrating attempt to research care options for his mother in the Dallas area, published one of the first guides on nursing and senior care facilities. Blaser and his wife launched New LifeStyles Online in 1995 as one of the first online resources, and the portal now provides free information on senior communities, home health, hospice, and senior products and services for 39 markets in the U.S. and Canada.

MARKETING INSIGHT: As mobile phones become more common and content becomes more sophisticated, watch for more product and service providers in the senior care space to explore and adopt this technology. As we uncovered in our recent research, the upcoming generations are adopting mobile technology at a fast pace, for a number of daily functions, and note that they are definitely influenced by mobile content. They’re using them to download apps, read QR codes, or even enjoy entertainment – and much of the interest skews toward healthcare.

The impact of mobile internet will be a growing influence and enable marketers to communicate with this new generation of Boomers and seniors efficiently, since many enjoy browsing online in their free time and report being influenced by mobile content. For example, advertising on health or senior-oriented product sites would be one way to reach online seniors who may have a higher level of comfort with technology.

You can read more about the phenomenon in our latest white paper, The Great Disconnect.

Regards,

The Varsity Team

There have been great strides to become more environmentally conscious, as we uncovered in our recent Project Looking Glass II and Next Generation studies.

Based on new product introductions with green claims launched in the last five years alone, the title of “green” as a mainstream product feature appears to be firmly ingrained in both consumer packaged goods (CPG) manufacturers’ offerings as well as in the minds of consumers.

That idea has trickled down into the mind of the mature market consumer as well. Today’s Boomers and seniors are much more environmentally conscious than their predecessors, thanks in part to education and intense messaging on the state, local and national levels, and to the social consciousness common among the Boomers, and starting to appear in the current Transitional Generation.

In the retirement living market, community “Green Teams” and recycling programs are now common. But for the older generations, thinking environmentally is often a learning process, while for the younger set, it has become part of their lifestyle. As we uncovered in our Next Generation research, there was still some amount of skepticism regarding the true impact on the world.

Knowing this mindset, today’s retirement communities are slowly realizing that they cannot simply be “green for green’s sake,” but need to incorporate these initiatives as a means to produce measurable results, as well as shorten the learning curve.

Here’s a great example: Our PLGII subject community, Frasier Meadows, was able to move from a dismal 70% to a 95% energy efficiency by installing compact fluorescent light bulbs, high-efficiency boilers, occupancy sensors and 500 new windows. Residents and management alike saw the health benefits and long-term ROI.

MARKETING INSIGHT: In short, go ahead and be green, as long as it’s done in a practical, fiscally responsible manner and shows real results that benefit everyone.

Some communities have made efforts to overcome the notion that one person can’t make a difference by quantifying the environmental savings based on using their green initiatives, and differentiating their community to the environmentally-conscious.

From a marketing standpoint, a slightly different approach than the current crop of messaging (which centers on the cumulative savings based on “if everyone made these changes”) may need to be considered. Instead, providers may want to show how one single person’s annual – or lifetime – green habits can add up to savings on such things as plastic waste, pollution, and even money.

Sustainability and being “green” should be a collaborative effort. For residents, it should be promoted as paving the way for coming generations. For management, it should demonstrate corporate social responsibility, good stewardship of resources, and become a true point of differentiation.

The Assisted Living Federation of America (ALFA) has some great tips and tools for making your community green without breaking the bank, and proving benefit to all.

Regards,

The Varsity Team

The first impressions of health information technology (HIT) – including electronic health records (EHR) and electronic medical records (EMR) – was that it held great promise for improving healthcare quality and safety, along with reducing the costs of providing care in the post-acute or long-term care setting.

The last time we covered HIT, and specifically EHR in the senior living industry, several multi-campus communities had already made the switch into the paperless realm.

Some preliminary data from LeadingAge and Ziegler‘s jointly commissioned LZ 100 survey shows that 79% of the largest LeadingAge members currently have an EHR system in place and plan to increase their investment over the next 12 months.

Note that we said largest.

Despite the advantages of EHR adoption for the long term care facilities using them and payers, the systems don’t come cheap, and costs vary depending on the type of system being deployed.

The study noted that, under a Software as a Service (SaaS), where a provider contracts directly with an EHR/EMR vendor for an annual service charge, implementing the technology could cost nearly $260,000 for a 25-bed facility over a period of five years. A third party-hosted solution would cost the same facility $254,279, while an in-house solution would ring in at more than $355,000 for the same five-year period.

Add to this the fact that EMR and point of care solutions can place a strain on a community’s current IT infrastructure, and require new measures to be put in place for security and access.

The benefits of going “paperless” are well-documented. EMR systems have a direct effect on positive outcomes, staff efficiency, the virtual elimination of medication errors, increased face time with residents and family members, and yes, cost savings.

As assisted living and skilled providers begin partnering with hospitals and other care providers in Accountable Care Organizations (ACOs), it will become more important to be able to move data seamlessly between those organizations, as well as provide hard data showing that they’re providing quality care.

MARKETING INSIGHT: For smaller facilities, adopting an EHR system remains cost prohibitive, and the likelihood of widespread adoption in the next three to five years remains low. Clearly, policy initiatives, programs and financing options must be put into place.

Those who are on the fence about such systems should consider the following:

• Being seen as thought leaders with state-of-the-art technology;
• The federal mandate requiring all healthcare facilities to have electronic health records;
• The ability to align with an ACO or become a preferred destination for post-acute therapy;
• Marked improvements in quality, efficiency and effectiveness of care;
• Improvements to the quality of documentation; and
• Reduced the paperwork for employees.