Multi-Generational Marketing: Getting Prospective Residents and Their Families on Board

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


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


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


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?


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

Documents

Multi-Generational Marketing: Getting Prospective Residents and Their Families on Board