Tag: Senior Living Trends

Many people thought it would take senior living years and years to recover from the COVID-19 virus. But this May, Varsity’s Sales & Marketing Roundtable participants were feeling resounding optimism! Their positive experiences with leads and move-ins are echoed in communities across the country, as we found through a presentation by Lana Peck of the National Investment Center for Seniors Housing & Care (NIC) in our last roundtable of the month, where she shared statistics about the  state of senior living.

Here are 10 takeaways from this month’s roundtable:

1. Momentum is positive. Leads and move-ins are on the upswing. One participant in New Jersey said, “We have a small memory care wait list, which we haven’t seen since the pandemic started!” Another participant in Arkansas said, “Tours are way up. Leads are coming in strong.” From Pennsylvania, the news was, “IL is booming. Our small carriage home project is going well with 15 of 16 reserved.” And from Washington state: “We’re also super busy moving in people. There’s so much going on, our sales team can’t even keep up with it.”
2. Staffing issues are still challenging. One participant said, “We are definitely having challenges. We used to struggle with nursing positions, but now it’s across all departments. We’ve been offering between $2,000 and $5,000 [as a] signing bonus. Another community shared a tip: “We held our Drive-In Career Fair yesterday and had 27 candidates show up.”
3. The hot housing market helps. “The housing market is really hot and there are not enough houses, removing the challenge of selling your home,” said one participant from Illinois.
4. People are “Zoomed out.” But that’s OK, since in-person events, especially outdoors, are back! “The turnout for in-person events has been strong and there’s a lot of interest,” said one participant.
5. Mask updates are confusing. “Some of our campus is under one set of guidelines and some is under another set of guidelines,” said one attendee in Washington state. “It’s really confusing. We’re developing bullets to outline what our residents can and can’t do, depending on what buildings they are going in and out of.”
6. Communities have to get used to holding in-person events again. “We had our first in-person event yesterday after a year and three months,” said one marketer. “It went OK — you forget things like putting pens and pads on tables — it’s been a long time! It was very well received. We just had some minor hiccups and need to remind ourselves of how to do in-person events again.”
7. More team members are getting vaccinated. “Our staff is showing more interest in getting vaccinated and we’re at 66% right now. We think they are feeling more comfortable now that they’ve seen [that] others haven’t had negative reactions,” said one participant. Other communities are providing cash incentives and not requiring weekly tests if employees are vaccinated. One community even created videos of staff members explaining why it’s a good idea to get the vaccine. “It helped get us over 70%,” the participant said.
8. There’s a lot of buzz around mandating the vaccine. There’s a desire to mandate the vaccine, and some communities have started to do this, but our prediction is that we’ll be hearing much more about this, especially the legal implications.
9. It’s a struggle to re-engage residents. As discussed on a call with LeadingAge D.C., there’s a current struggle in getting Memory Care residents to re-engage because they’ve been in their rooms for 14 months.
10. Move-ins are trending higher. Findings presented by Lana Peck of NIC back up participant experiences: Across all three levels of care, move-ins are up, move-outs are down, and traffic and leads are strong. Details below.

NIC Executive Survey Insights with Lana Peck

• Lana Peck, Senior Principal from the National Investment Center for Seniors Housing & Care (NIC), attended the roundtable and shared insights from the latest wave of NIC’s Executive Survey.
  • A few high points:
    • Nursing care occupancy fell more than IL and AL — 12.5 points vs. 8.7 points. Senior housing declined 8.7 points over the course of the pandemic; that includes IL and AL. Nursing care fell the most, by 12.5 points. So, COVID-19 hit nursing properties especially hard.
    • Vaccinations have fallen off — right now, they are at 90% for residents and about 65% for employees.
    • A smaller share of properties have 90% or more occupancy — only 24% in the first quarter of 2021 versus 54% in the first quarter of 2020.
  • On the bright side:
    • An acceleration in the pace of move-ins is clearly trending, and the pace of move-outs is either staying the same or decelerating.
    • In March, we may have reached an inflection point in occupancy.
    • In IL, 56% of communities said they have seen an increase in occupancy.
    • Lead volume is increasing. Encouragingly, we’re seeing a growing number of organizations reaching lead volumes at pre-pandemic levels.
    • Rent discounts, free rent and rent freezes have been increasingly used as incentives to boost occupancy. Most of the C-suite operators and owners who were questioned believe that occupancy will reach pre-pandemic levels in a year or two.

See more details of Wave 28 of the NIC survey here.

We hope that move-ins, reopenings and vaccination rates continue to rise in June. Look for the next monthly recap of our roundtable discussions in your inbox.

Until then, please be sure to join our weekly Sales & Marketing Roundtable on Thursdays at noon ET and 11 a.m. CT.

For login information, email DDunham@varsitybranding.com.

 

 

The month started out on a hopeful tone, with some hesitancy mid-month, but in general, April seems to have ended quite positively for most participants of Varsity’s weekly roundtables! Restrictions have generally eased, although this varies from state to state. Many marketers are talking about a spike in leads, and a lot of success with more tours and people ready to make a move. People are indicating that they are “feeling good or great.”

Here are seven takeaways from our April roundtables:

1. Sales are up. Way up.

Contrary to prior months when “people just weren’t ready,” the dam is breaking. Some positive words from our participants:

“We had a good month in IL and sold eight homes. There’s been so much pent-up demand, and people are ready to get out and ready to move, although spring is typically the busiest time. The real estate market is great. All of those things combined have contributed to a great month.”

“We’re doing better than we have in months for tours and move-ins.”

“The last few deposits I’ve received have been pretty quick. People have been thinking about it for a while and are ready to make a decision.”

2. Digital is hotter than ever.

One marketer shared, “A majority of leads are coming from the internet and family referrals. Really the online space is what’s driving the most traffic.”

According to another participant, “We’ve been super busy with a lot more leads (especially email leads). We do a lot of digital ads, which direct people to our website to fill out a form. We also get a lot of requests through our autochat.” Another participant shared the love for online marketing, saying, “We have that constant flow to the website. It’s been a nice flow in light of us not making a huge effort.”

3. Outdoor events are popular, with virtual still in the mix.

One community hosted an outdoor Earth Day event. “It’s a grab-and-go event, and the purpose of it is to get people to step on our property, get a goodie bag and say hello,” the participant explained. Another community is focusing on virtual seminars: “We had 14 people join the first one (on incontinence, promoting our short-term rehab offering) and it went really well. Tonight’s webinar is a food demo (brownies with blood orange-infused olive oil).”

4. Staging is selling.

Many communities find staging to be a tried-and-true, but highly effective, tool that sells units faster.

“We have a flat rate with someone local who does our staging, and these apartments always go quickly when people see what she’s done,” said one participant. Another community calls the area where future residents can select their finishes their “Design Center.” New residents can pick paint colors, finishes, flooring, etc. Another participant also referenced the staging of AL apartments as a marketing tactic.

5. Marketing AL to IL residents is working.

Some communities are finding that their best customers for AL are already living on campus in IL.

“We actually did an open house with our IL residents to showcase AL,” one marketer said. “We had four AL residents show their apartments, so residents can see what it looks like living in an AL residence. Another community had a different tactic: “Moving forward, I would consider inviting the IL family members to our next open house to showcase AL.”

6. There are almost too many CRM choices.

Marketers have a bewildering number of choices in Customer Relationship Management systems (CRMs), with a wide array of high-tech bells and whistles. One participant said, “We use Enquire and have for a little over a year. It has a marketing automation platform called MAP that we’re in the process of implementing now. It looks like a very robust platform.” Another marketer commented, “We use MatrixCare Marketing for everything. It’s a good system.” Other communities referenced using Sherpa, SharpSpring, Mailchimp, RHS, HubSpot and Yardi.

7. Staffing issues are rampant.

Staffing in senior living has always been a challenge, but in the post-COVID environment, the competition for team members is even more competitive. One participant said, “As we’re staffing up our new building, literally no one has applied for housekeeping.” Another marketer commented, “We’ve hired a few people, but within a week or two they get paid more somewhere else. We’re having a hard time with the pay scale. They just don’t stay.”

One community has found a solution: “We’ve offered a signing bonus with a time limit, so we know that we will at least keep them until that bonus.” Another participant, who is having a particularly hard time filling CNA positions, said, “We started our own CNA school and do all of the training at our community, which has helped a lot.”

Here’s hoping May is filled with more good news, from reopenings to move-ins! Look for our next recap of our roundtable discussions in your inbox.

Until then, please be sure to join our weekly Sales & Marketing Roundtable on Thursdays at noon ET and 11 a.m. CT.

For login information, email DDunham@varsitybranding.com.

 

 

At our 37th weekly sales and marketing roundtable, communities discussed the light at the end of the tunnel and shared how they’ll be implementing the vaccine.

Dig into the recap below, and please join us for our next roundtable this week.

Please join our last roundtable of 2020 on Thursday, December 17, at noon ET.

This will be our last discussion of the year, but we will start back up in early 2021!

For login information, please contact DDunham@VarsityBranding.com.

 

 

 

As they deal with cases and closures during the holidays, participants of our weekly sales and marketing roundtable are experiencing a mix of emotions: worry about current COVID spikes and hope for the coming vaccine.

Check out the recap below, and please feel free to join us for our next roundtable, later this week.

Please join our next roundtable discussion on Thursday, December 10, at noon ET.

For login information, please contact DDunham@VarsityBranding.com.

 

 

 

At our 34th sales and marketing roundtable, we shared our successes and setbacks during the pandemic. We were also fortunate to have one participant share takeaways from this year’s SMASH conference.

Check out the recap and conference takeaways below. We also invite you to attend our next roundtable this week.

Takeaways from the SMASH Conference 

Over 200 sales and marketing professionals from senior living organizations of all sizes across the U.S. participated. One of our roundtable attendees shared these takeaways:

Biggest Sales and Marketing Trends

1. Since COVID-19, leads and occupancy have plunged across the board.
2. The deepest occupancy decreases have been in assisted living, with the toughest objection being “Why would I move my mom into assisted living when I know I won’t be able to see her for months?”
3. Marketing budgets are not being cut and, in many instances, they are being increased.
4. Marketing dollars are being reallocated from events and on-site activities to digital, SEO/SEM, virtual tours, videos and webinars.
5. Marketing automation (automated lead nurture) is by far the #2 marketing priority after digital paid search and search engine optimization (SEO/SEM).
6. Marketing messages have pivoted for assisted living and memory care to safety and security. IL messages are still about lifestyle, with a bit of safety and security in the message mix.
7. Website — making sure the messages are appropriate/correct for the times. For most senior living communities, COVID-19 info has recently been moved from front and center to a smaller tab on the homepage, still easily accessible.
8. Salespeople across the board are still focusing 100% of their time on sales, including nurturing the wait list/depositors, cold calling, working through the database, delivering treats/meals to depositors, virtual tours, apartment tours, answering website/call leads, etc. Activity team members, as well as social workers and front desk team members, are taking care of all window/outside visits, temperature taking, Facetime/Skyping with family members, virtual doctor visits, etc.
9. Sales messaging, especially for assisted living — do not lead with COVID-19. We are living with COVID-19 24/7; however, prospects are calling us because mom/dad needs more help. They want to know how we can help them first and foremost.
10. “Backstage Pass” — can’t tour the community, but can tour individual apartments.

Interesting Sales and Marketing Stats

• New reality — 90% of prospects do not want to talk with us. They just want more information (which they are finding digitally via Google, website, videos, Facebook, Instagram, etc.)
• Across the U.S. in CCRCs:
  • 43% increase in cost per conversion in digital search
  • 39% decrease in goal completion (filling out a form, calling, etc.)
  • 103% increase in phone calls (these are not all sales calls)
• 70% of adult daughters find care for their parents through digital (up from 50% not so long ago)
• Google will drive 90% of digital leads
• 77% of searches for senior care begin online … even for skilled nursing
• 80% of senior living search online is Google, Facebook and individual community websites
• 6 billion minutes of content per week are consumed via video
• 3 connected devices per person — and we switch between them all day long
• Average number of brand touchpoints = six per person … up from two 10 years ago.
• 92% of consumers begin their healthcare search online — with 6,000 searches related to long-term care EVERY HOUR
• 88% of residents overall would recommend LTC. (Perception: 24% of seniors don’t want to move to LTC. Reality: 88% who live in LTC really love it.)

Please join our next roundtable discussion on Thursday, November 19, at noon ET.

For login information, please contact DDunham@Varsitybranding.com.

 

 

At our 30^th weekly sales and marketing roundtable, communities shared out-of-the-box, socially distanced ideas they’re using to get people to campus.

Find out how to make these ideas work at your community by checking out the recap below.

Please join our next roundtable discussion on Thursday, October 22, at noon ET.

For login information, please contact DDunham@VarsityBranding.com.

Last week at our virtual sales and marketing roundtable, participants shared that they are trying new sales strategies and working to debunk the myths of COVID-19.

Dig into the recap below. Please also join us for our next roundtable, coming up this week.

Please join our next roundtable discussion on Thursday, October 15, at noon ET.

For login information, please contact DDunham@VarsityBranding.com.

At our weekly sales and marketing roundtable, we all shared creative tactics we’re using to attract prospects as communities gradually open back up.

We’d especially like to thank Lana Peck, Senior Principal at the National Investment Center for  Seniors Housing & Care (NIC) for sharing insights gleaned from 11 waves of executive surveys, all completed since the pandemic hit.

You’ll find discussion highlights and survey results below. We also invite you to join us for our next roundtable, coming this week.

 

NIC Executive Survey Insights

We were joined by Lana Peck, Senior Principal at NIC.

Lana:

NIC is a nonprofit organization with a mission to enable access and choice for America’s seniors through data, transparency and making connections.

We’ve been doing our executive survey, since 3/24/20, with 11 waves of data so far. Our audience is C-suite executives and owners/operators of senior housing properties across the country.

We would encourage each of your executives to email insight@nic.org to take the executive survey.

Some highlights from the results so far:

• Wave 10 = 53% (mid- to late July)
  • About half of organizations with more than one property are easing restrictions
• Wave 11 = 63% (late August)
  • Even more are easing move-in restrictions

Note: blue = good; orange = bad

• Wave 8 (around Memorial Day)—we start to see an improvement and a downward trend in decreasing occupancy (directional changes in occupancy by care segment across the respondent’s portfolio of properties—single-property operators included)
• Mid- to late August sees pullback in move-ins for AL

• Note: blue = good; orange = bad
• Across the board, the pace of move-outs hasn’t changed tremendously (gray bars)
• Around Memorial Day, we see some improvement, with fewer organizations reporting acceleration in move-outs
• In mid- to late August, we see a pullback in acceleration again

• The recent decline in a slowdown in leads/conversions is due to easing moratoriums and pent-up demand (especially in IL) when doors opened, and people waiting in the wings could actually move in
• When the blue line goes down, that’s a good thing—it’s a reverse in the slowdown of leads and conversions
• The orange line has been trending lower—about half of organizations eased move-in restrictions
• Yellow line—only about half of organizations initially felt that resident or family member concerns contributed to deceleration of move-ins, but this has increased quite a bit, possibly due to a resurgence of COVID-19 or issues of residents not being able to see family members. This is a significant factor in more recent waves of the study.
• This slide is aggregate and shows all care segments
• Leads, conversions and sales are happening more frequently as of more recently. Before, there was an inability to have people on campus to make sales.

• This shows the toll of the pandemic on organizations—how many are feeling the need to provide incentives to bring residents in. For the most part, most are not reducing rents or fees at this time.
• The majority of respondents don’t have a backlog of residents waiting to move in.

Valuable Resources NIC Offers:

• NIC’s Fall Virtual Conference. The conference will start on October 3. Week 1 will focus on education. Week 2 will be about making connections and business contacts in peer-to-peer discussions. Anyone who signs up for the conference will be able to participate in Community Connector—essentially a LinkedIn for senior housing.

• COVID-19 Resource Center.  Data, analytics and connections to help provide transparency to the sector and keep  communities informed.

Please join our next roundtable discussion on Thursday, October 1, at noon ET.

 For log-in information, please contact DDunham@VarsityBranding.com.

 

 

At our weekly sales and marketing roundtable, aging services expert Scott Townsley, principal of Trilogy Consulting, LLC, joined us to discuss consumer research and other insights related to the pandemic.

Check out the takeaways below. Please also join us for our next roundtable, coming this week.

Highlights from presentation on consumer research by Scott Townsley, Principal, Trilogy Consulting, LLC:

Opportunities are already emerging amid COVID-19—this will change who we are as a field and will change the product. Here are some resources that can be helpful as you deal with this situation.

The End of Competitive Advantage and Seeing Around Corners, two excellent books by Rita Gunther McGrath

• “Inflection point” is a key concept she discusses, which she describes as jerking the steering wheel while driving
• Unfortunately, by the time you recognize an inflection point, it can be too late; for example, discovering that occupancy has dropped from 96% to 80%, and it’s not going back up
• My observation is that skilled nursing is at an inflection point—it was already changing, but the coronavirus has pushed it to this point—and that a portion of it will be forever changed
• Life Plan Communities aren’t at an inflection point yet, but we need to have our eyes wide open

Nonsense: The Power of Not Knowing, by Jamie Holmes

• “While uncertainties can be painful, they are also, by definition, eras of change. They’re destabilizing because they’re a threat to the status quo, which is also precisely why they represent an opportunity for innovative and cultural rebirth.”
• The risk is that we seek information or anecdotes that hint we’re returning to the “way things were” sooner rather than later—rather than seeking actual data
• We can’t look to the past (even January 2020) for clues about the future, because we’re probably going to be wrong; I refer to it as the “perilous backslide to the status quo,” in which we will innately make decisions thinking things will get back to “normal”
• Virtual tours are a great example of how we’ve adapted
• When I first saw a billboard for telemedicine, years ago, I thought, “Who’s going to want telemedicine?” But without it, many people (particularly in skilled nursing) wouldn’t have been able to see their physicians; we went from talking about it to it being a key part of life

Consumer Behavior Survey

We just completed a 1,000-person survey of four market areas in Pennsylvania (southeastern, south-central, west-central and northeast), one in Maryland and one in Delaware.

Too often, we’re talking in anecdotes, but we need to use data that tracks consumer behavior. This is especially risky when talking about the coronavirus.

• Background on the study
  • Participants are 60 to 80 years old; all income groups
  • Conducted last week in July/first week in August
  • Asked approximately 50 questions
  • All telephone conversations (landline and mobile)
  • Allowed us to reach the “essential non-customers”
  • With people at home, it was easier to reach them; they’re still answering their phones
  • Completed 1,000 surveys in five days
• What’s key is that this survey has statistical validity—it provides insight into the thinking of consumers rather than anecdotes

Early on, it was clear that we (as an industry) knew neither the questions to ask nor the answers. Today, there’s more clarity about the former (the questions that we, as an industry, should be asking) and an ability to obtain the answers. Hence this survey.

We asked the question, “How concerned are you about coronavirus in your area?” Seventy-eight percent are very or somewhat concerned about the coronavirus in their area. For those whose adult children are involved in making decisions about retirement living options, that number increases to 87 percent.

It’s also notable that, in this and prior surveys:

• The percentage of people who are concerned about future long-term care needs is typically low
• The percentage of people who are concerned about their ability to afford their retirement is also low
• The percentage of people who are concerned about dementia or Alzheimer’s, for themselves and those they love, is incrementally higher than the other two—but still a fraction of those concerned about the coronavirus

We then assessed the impact of COVID-19 on Senior Living Community (SLC) interest later in the study:

• By and large, every cross-tab is very or less interested due to the coronavirus
  • With respect to SLC interest, there are as many people who are less interested as there are who are more interested—due to the coronavirus
  • Interestingly, people who identify as evangelicals are 17% less interested in senior living communities than the average (due to the coronavirus)
  • There’s still a core of people who remain interested, which may be proving the naysayers wrong, but: (a) it’s too soon to know for sure, and (b) the coronavirus has significantly reduced interest in senior living “congregate”-type options
    • The field could be in jeopardy if the virus stays around
    • The virus has, conversely, also made some people more interested
  • Note: This study won’t be valid six months or a year from now—everything is changing so quickly
  • It’s critical to talk to people who are “the essential non-customers”—those who are living outside the senior living world (and who aren’t on your lists)—to understand who is motivated and why
    • Ask how they feel about congregate living on their overall health and well-being
    • In unprecedented times, we need to rely on information that’s current
  • I was wrong about the recession in 2008–2010—I thought the loss of value in portfolios would have a searing effect on people’s decisions about senior living, much in the way the depression impacted how people spent money
    • This didn’t happen, and the for-profit sector took advantage of that
    • The not-for-profit sector did not jump on it
  • It’s possible that, six months from now, if there’s an effective vaccine, the consumer could forget about this—but it’s also possible that it will stay with them for a long time, perhaps forever
  • It’s important to note that concerns about the coronavirus did not increase the interest in a stay-at-home program (though the percentage of people “very interested” in a stay-at-home program is twice what it is for a senior living community)
  • HJ Sims is soon coming out with a national study that will be fascinating to review; it, hopefully, will include all regions of the country, not just those heavily impacted by COVID-19
  • The secret to success is data analytics, and WildFig (Varsity’s sister firm) is ahead of the curve
  • “You never let a serious crisis go to waste. And what I mean by that: It’s an opportunity to do things you think you could not do before.” – Rahm Emanuel

Please join us for our next roundtable discussion on Thursday, September 17, at noon ET.

For log-in information, please contact DDunham@VarsityBranding.com.

 

During Thursday’s roundtable, retirement communities around the country shared sales and marketing strategies that are working during COVID-19. From virtual events to smart home communications, tech is being tapped frequently to reach and attract residents.

Join the next sales and marketing roundtable on July 23!

Please join our next roundtable discussion on Thursday, July 23, at noon ET. We will have a speaker from Morrison Living sharing tips to create safer environments.

For log-in information, please contact DDunham@VarsityBranding.com.