multi-generational marketing: getting prospective residents and their families on board
DESCRIPTION
Argentum 2016 Senior Living Executive Conference concurrent session Original session date: Tuesday, May 10, 2016, 3:15 - 4:30 PM Speakers: Shannon Ingram, Vice President, Sales & Marketing, Anthem Memory Care Cindy Longfellow, National Director of Sales & Marketing, Juniper Communications Katie Roper, Vice President, Sales & Marketing, Caring.comTRANSCRIPT
Multi-Generational Marketing:
Getting Prospective Residents and Their Families
on BoardArgentum Conference
Denver May 2016
Why Multi-Generational Marketing?
2
Adult Children are involved in 73% of senior
housing decisions (ASHA 2014)
73%
Why Multi-Generational Marketing?
3
Caring Data: When Inquirer = Adult Child
Move-in rate is 3X higher vs. “Self”
For AL, move-in rate is 2.5X higher2.5
X
For IL, move-in rate is 3.5X higher3.5X
3X 3X
Understanding the Market
Caregiver Study
• Target: People searching
online for senior care
• 2,098 completes of online
survey
– 50% adult child or other relative
– 30% spouse
– 20% self
4
Resident/Prospect Study
• Varsity’s Project Looking
Glass III study
• Target: Senior housing
residents and prospects
• 15 focus groups
• 435 online survey
completes
Housing Decisions: Adult Child Perspective
5
Source: Caring.com Caregiver Journey survey, Fall 2015
5%
7%
8%
10%
20%
27%
58%
0% 10% 20% 30% 40% 50% 60%
What prompted your loved one’s move to senior housing?
Health Considerations
Caregivers’ needs
No specific cause
Death of a spouse
Loneliness
Closer to family
members
Financial considerations
6
2.3%
4.4%
12.5%
22.5%
24.2%
30.6%
44.0%
44.5%
0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0%
We asked participants “What motivated decision to move?”
Housing Decisions: Resident Perspective
Health change: spouse
Health change: you
Home maintenance
responsibilities
Children/family
encouragement
Desire for social interaction
Availability of meals
No longer able to drive
Peace of mind and security
Source: Varsity Branding, Project Looking Glass, 2015
How Did You Make the Decision? Adult Children
7
Source: Caring.com Caregiver Journey survey, Fall 2015
40%
34%
29%27%
17%
14%
8%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Which of these did you use to select a community?
Local knowledge of senior
housing options
Recommendations from
friends/family members
Online directories, such
as Caring.com
The community’s website
Recommendation from
professional or clergy
Only option due to geo,
financial, other constraints
My loved one knew this facility
and selected it him/herself
How Did You Make the Decision? Residents
8
Source: Varsity Branding, Project Looking Glass, 2015
65% 41% 41%
Searched
online
Stopped by
communities
they already
knew
Asked friends for
recommendations
32%
38%
14%
84%
71%
82%
How Did You Make the Decision? Residents
9
Source: Varsity Branding, Project Looking Glass, 2015
What was important in making your decision?
Non-FactorsSignificant Factors
Religious
Affiliation
Attractive
grounds/buildi
ng
Friends who
live there
Financial
Stability
Friendliness
Of Staff
Expertise
of Staff
Adult Children of Non-Residents
For adult children whose parents still live independently in
their own home, only 25% are satisfied with living situation
10
My loved one would never
consider moving out of
his/her home, so we must
cope the best we can”
“I’m getting concerned for
my loved one’s health or
safety, and feel we will
need to make a change”
“Due to financial
constraints, I think
this is our only
47% 22%
AGREEAGREEAGREE
38%
Why don’t they move?
Source: Caring.com Caregiver Journey survey, Fall 2015
Senior Non-Residents
11
Source: Varsity Branding, Project Looking Glass III, 2015
What is holding you back from making a move?
“Bottom Line: The belief is still prevalent that you move into
a retirement community when you are sick, disabled and/or
need help.”
Just not ready/still
active, healthy
61% 35%
It’s too expensive/
I’m still working
28%
I have too much
stuff/downsizing
26%
I want to be
independent
Conclusions
12
Both are
happier once
older loved
ones are in
senior housing
Adult
children’s own
needs drive
many move-ins
Seniors fear
loss of
independence
Health
considerations
drive most
senior housing
decisions