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Customers are Changing:Three Strategies to Get Ahead
BC Seniors Living Association
Margaret Wylde ProMatura Group, LLC
1. Focus on living, not aging.
2. Know your customer.
3. Deliver the experience.
5
2012 Study of Independent Living
2,917 resident surveys 4,024 non-resident telephone surveys 488 non-resident mailed surveys
Aware of IL communityPerception of IL community
Likelihood of moving
Same survey as residentsGroup 70 to 79 years of age
Group 80+ years of age Match residents of IL
Age at Time of Move-InMoved During Year of Survey or Previous Year
<75 75 to 79 80 to 84 85 to 89 90 to 94 95+
14%
21%
33%
22%
10%
0%
10%12%
27%
35%
15%
2%
2001 2012
7
Distribution of Residents by Age2001-2012 All Properties
<80
80-84
85-89
90+
0% 5%10%
15%20%
25%30%
35%40%
45%50%
33%
32%
23%
12%
18%
25%
32%
25%
20122001
Percent within Age Group
Age
Gro
up
All in 2012
Age of IL Residents at Move-In Moved-In within 24 Months of the Survey Year
Mean Increase in age of .32 year per year (1 year increase every 3 years).
1999 2000 2001 2002 2007 2008 2011 2012777879808182838485
79.680.2
81.682.3
81.8 81.982.8
83.8Age in Years
Increase in Age at Entry to Increase in Life Expectancy per Year
Age at Entry Life Expectancy0
0.05
0.1
0.15
0.2
0.25
0.3
0.35 0.32
0.06
Change in Age (years)
10
Self-Rating of Health
2001 20120%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2% 6%20%
28%
55%
49%
24%16%
Excellent
Good
Fair
Poor
Same Store
13%
11
Use a Walker
CCRC - EF Combined Free-standing
2%
13% 15%19%
38% 37%
2001 2012
25%
12
Fell in Past 6 Months
200115 %
201231 %
13
Meeting Expectations: 2001 and 2012Activities and Recreation – Same Store
2001 20120%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2% 5%17% 8%
57%54%
24%34%
Exceeded
Met
Nearly met
Not met
Same Store
14
Meeting Expectations: 2001 and 2012Food Service – Same Store
2001 20120%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
15% 8%
19%
13%
47%
48%
19%31%
Exceeded
Met
Nearly met
Not met
Same Store
15
Meeting Expectations: 2001 and 2012Housekeeping – Same Store
2001 20120%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
5% 4%
19%11%
60%
51%
15%
34%Exceeded
Met
Nearly met
Not met
Same Store
16
Meeting Expectations: 2001 and 2012Residence – Same Store
2001 20120%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0% 2%14% 8%
68%61%
18%28%
Exceeded
Met
Nearly met
Not met
Same Store
10%
17
This Community Offers Me Good Value for My Money – Same Store
2001 20120%
10%20%30%40%50%60%70%80%90%
100%
0% 3%7% 6%
25% 23%
43% 47%
25% 21%Strongly agree
Agree
Neutral
Disagree
Strongly disagree
Same Store
4%
2%
18
I Consider This Community My Home
2001 20120%
10%20%30%40%50%60%70%80%90%
100%
0% 1%0% 3%9% 10%
45%56%
45%30% Strongly
agree
Agree
Neutral
Disagree
Strongly disagree
Same Store
15%
19
Satisfaction with Quality of Life in Community
2001 2012
45%31%
47%
52%
7%14%
1% 2%0% 1%
Very dissatisfied
Dissatisfied
Neither satisfied nor dissatisfied
Satisfied
Very satisfied
Combined IL/AL
14%
20
1. Consumers choose what they want, rather than what they need.
2. Hyper-abundance and choice.
3. Consumers don’t like wasting their time, money or effort on anything.
4. Your competition is everywhere and everything.
5. Must be aware of innovations from around the world.
6. Consumers are more aware of and excited by companies that get ‘it’ right (customer service, marketing tone, design or usability).
21
What does it take for a resident to recommend a community to their
friends?
Very Satisfied Satisfied Neutral or Low Satisfaction
0%10%20%30%40%50%60%70%80%90%
100%
0
2
4
6
8
10
12
14
16
74%
19%
6%
15
1210.3
Percent Willing to Recommend the Community to a Friend by Their Level of Satisfaction and Mean
Satisfaction Scores
Level of Satisfaction
Perc
ent W
illin
g to
Rec
omm
end
to a
Fri
end
Mea
n of
Thr
ee S
atisf
actio
n Q
uesti
ons
22
Independent Housing
Assisted Living
SupportiveHousing
So what is it that we are selling?
Focus on living, not aging
What is aging to you?
aging in place
The industry has aging on the
brain
living
It’s a good day to see the manatees
BuyNoBuy
29
3
Ageist
Commoditized- all the same Paternalistic
Assume we know what’s best for our customers
Know your customer
32Copyright ProMatura Group, LLC, 2012. All rights reserved.
33
High occupancy, high rates
Low occupancy, Low rates
Correlates of Success
225 COMMUNITY FEATURES1200 DEMOGRAPHIC/ECONOMIC
Copyright ProMatura Group, LLC, 2012. All rights reserved.
Copyright ProMatura Group, LLC 2012. All rights reserved.
34
Captured and Analyzed
• Location• Site (landscaping, parking, signage)• Exterior physical plant• Interior physical plant (common areas/residences)• Amenities• First impressions• Personnel• Residents• Price
35
Attributes with Strong Correlations with the Performance Values of the Mean IL Rate and IL/AL Occupancy
Variable Pearson Sig. Level
Sales Counselor Focused on You 0.626 0.0042Median home value for 5-mile-radius 0.533 0.0001Pub/Bistro/Cafe 0.523 0.0002Greenhouse/Gardening Area 0.509 0.0003Increase in median income of 65+ households 0.479 0.0004Increase in median income of 45-64 households 0.451 0.0010Gestalt Score 0.449 0.0012Increase in median income of 75+ households 0.436 0.0015Community Kitchen 0.435 0.0022Architectural Style of Building 0.426 0.0020IL Building Score 0.417 0.0039IL - Green Space or Landscaping 0.411 0.0037IL - Site Appearance 0.408 0.0036IL - Appearance of Reception Area 0.391 0.0079IL - Exterior Condition of Building 0.366 0.0090
36
The right market for your
product.
Quality of reception area.
37
It is a fact…
Communities with high satisfaction have high occupancies.
So what correlates with satisfaction?
Housekeeping4%
Maintenance3%
Servers0%Dining Experience
4%
Social Activities4%
My Interests5%
Exercise3%
Education1%Made Friends
15%
Friendly staff5%
Feel Safe1%
Exec Director9%
Personal Care9%
Reception1%
Day Trips0%
Religious2%
Feel at Home36%
Impact on Overall Sense of Satisfaction
Feel at Home
Deliver the experience
Being with family and friends or hearing from family and friends 23%Reading newspaper, books 9%Exercise 7%Being able to work in yard, gardening 6%Getting up, getting out of bed, waking up 6%Eating out, eating out with family and/or friends 6%Being healthy, feeling good, feeling well 6%Doing as I please, wish, want, enjoy 5%Church, reading Bible, bible study, church functions, spiritual 4%Good weather, sun shine 4%Activities, being busy or active, social functions 3%Watch TV/news 3%Walking the dog, time with pets 2%Accomplishing something, a project 2%Playing cards, Bridge 2%Being with spouse, doing something with spouse, girl friend, gentleman friend 2%Volunteer work, helping others 2%Getting out of the house for a short time 1%Computer, check email, play Scrabble 1%Cooking 1%Maintenance work, chores at home 1%Knitting, sewing 1%Going to work, good day at work 1%A good night's sleep, sleep late, sleep in 0.9%Shopping 0.9%Listening to music 0.8%Peace and quiet 0.6%
What makes a great day for you?
95% normalStuff
5%activity
Non-Residents
My wife and I have not had dinner alone, together in the last four years.
What can’t you do today that you did
in your former home?
42
You must know what makes your prospective buyers happy.
You must know what they want.
What They are Looking for in an Independent Living Community
Less home/yard maintenance 28%Dining/Food Services 11%Less lonely/Around other people 11%Amenities available 9%Making new friends 7%Safety/Security 5%Less responsibility 5%Activities/Services 5%Being around people own age 4%Having own private space 4%Medical support available 3%Convenience 3%
Would consider
IL
What They Would Like Least about Living in an Independent Living Community
Too many rules/restrictions 13%Lack of privacy 11%Loss of independence 10%Too small/Not enough space for guests 10%Forced to live with others/Too crowded 9%Being away from current home 8%Being around old and disabled people 7%Cost 5%Eating in dining room with others 3%Inability to keep up hobbies 3%Feels like an institution 3%Too noisy 3%
Would consider
IL
Beginning End 0%
5%
10%
15%
20%
25%
6%
85%
Impact of Lifestyle on Likelihood of Purchase
Lifestyle shown during research
Might buy
Very Likelyor likelyto buy
2125%
46
what the prospect and customer experience cannot be left to chance
47
1. Create a living, full-of-life, fun future.2. Know each person, your customer.3. Facilitate the life/lifestyle they want.