Convincing prospects to move into a senior living community is rarely a quick or easy process. However, understanding key trends and changes in the senior living market can give you a competitive edge. Here are the six major change indicators that can help you better connect with today’s senior living shoppers.
1. Digital Connectedness
Today’s seniors are more digitally connected than ever. With increasing confidence in their ability to use technology, older adults are relying on digital platforms to research, communicate, and make decisions about their living arrangements. They now use smartphones, tablets, and computers for everything from scheduling doctor appointments to exploring senior living options.
As a senior living community operator, it’s critical to meet them where they are — online. Ensuring your community has a strong digital presence, including an engaging and user-friendly website and active social media profiles, is essential to connecting with today’s tech-savvy seniors and their families.
2. Forgotten Middle Opportunities
The “Forgotten Middle” is a demographic of middle-income seniors who fall between the cracks. They earn too much to qualify for Medicaid long-term care but not enough to afford high-end private senior living options. This group represents a large, often overlooked market.
To tap into this opportunity, consider offering flexible pricing models, tiered service packages, or alternative payment options. Positioning your community to accommodate the needs and budgets of the “Forgotten Middle” can help you capture a significant segment of prospective residents.
3. The Reality of Independence Phases
Aging is a process that moves through several stages of dependency, often reluctantly faced by both seniors and their families. Understanding and addressing these five well-accepted phases of aging, from independent living to more intensive care, can help you design your services and messaging to meet the specific needs of residents at each stage. Tailoring your offerings and your sales process to accommodate these phases, including how you address the probable reluctance in a compassionate way, will create trust and ease concerns for families who are unsure about making such a significant decision.
4. The Power of Brand Awareness
New research commissioned by SSDM revealed that brand awareness plays a crucial role in the senior living search process. In most cases, the search for a community begins with a brand that prospects or their families are already aware of. Rarely do potential residents or their loved ones conduct “general” searches. This highlights the importance of building and maintaining strong brand recognition.
Your marketing efforts should focus not only on generating leads but also on establishing a lasting presence in the minds of your target audience. The more familiar people are with your brand, the more likely they are to consider your community when the need arises.
5. Care Management vs. Facility-Incentivized Selling
Seniors and their families are becoming increasingly wary of sales processes that feel too focused on closing deals rather than addressing their specific care needs. Differentiating between care management and traditional sales methods is essential to building trust. Care management takes a holistic approach, focusing on assessing each resident’s individual needs, preferences, and health requirements, while collaborating with families and medical professionals to create a personalized care plan.
This differs significantly from facility-incentivized selling, which often emphasizes occupancy rates over individual well-being. Ensure your messaging and approach are grounded in compassionate care and align with the long-term health and happiness of potential residents, rather than just focusing on filling vacancies. When prospects feel that your community genuinely prioritizes their health and quality of life, they are more likely to convert and feel at home.
6. Diversity Growth
The senior population is becoming more diverse. According to the American Psychological Association, minority populations among seniors are expected to grow significantly in the coming decades. As the cultural diversity of seniors increases, more families will look for communities that respect and reflect their cultural preferences and norms.
To stay competitive, your community should be proactive about creating an inclusive environment that embraces diversity. This could involve offering culturally specific programming, employing a diverse staff, or promoting inclusivity in your marketing materials.
If you’re ready to take the next step and optimize your strategy, schedule a call with us today to learn more about how we can help you realize results quicker.
