“Aging in place” are three very scary words for the senior housing industry who continue to see national occupancy rates slip every quarter. Whether it is being realized or not, the Senior Housing industries business model is currently under attack. If you are an Independent Living or even Assisted Living provider, ask yourself these question.
~ Do our community amenities and offerings encourage and support an active middle age client?
~ Since most of our potential resident’s basic needs can be met by our community, are we marketing toward what they really want, which is continued life experiences?
~ All the statistics and surveys out there clearly show that offering travel options that are tailored to the over-50 crowd will generate interest from this demographic. Has your company considered inter-community travel programs?
~ People are living longer lives and want to make those years count. So, if your sales pitch is “come live with us because you never have to leave”, this is a negative message to the resident of the future. (Once again, they want to travel & have experiences)
~ Are you catering your services to maintain and encourage independence, because living independently is one of the important ingredients to creating happy residents.
Emerging technologies paired with an overstock of inventory, continue to disrupt the Senior Housing industries sales model. Seniors continue to have more options than ever to stay in the homes for longer periods of time.
Some options include:
~ An explosion of in-home care and assistance companies that are adding years onto senior homeowners options to age in place.
~ Technology like facetime, email, and texting are giving family members the ability to stay in touch with older family members seamlessly.
~ Automated medication monitoring systems offer confidence that aging parents are taking their medications.
~ Easy and affordable retrofitting of service equipment such as grab bars, ramps, side-entry bathtubs and so on, provide more safety than ever before.
~ Home sharing companies like Airbnb and HomeAway are offering senior homeowners the opportunity to have meaningful interactions, while generating on average $15,000 in income per year. Currently, there are over 250,000 senior hosts in the US.
The bottom line is, the Senior Living companies that are thinking about the WANTS not just the needs of future residents, will win the occupancy game!
At SimpleStays our goal is to encourage and enable innovation in the Senior Living industry. (Because we are all going to be Seniors someday) To see how we can assist your company, check out our innovative senior living solutions. (Senior Living solutions ) Should you like to talk about deploying innovative marketing strategies such as resident inter-community travel and employee retention programs, we would love to speak with you.