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Great Expectations: Keeping Up with Changing Consumers   Margaret  Wylde    ProMatura  Group,  LLC      

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Age  of  Residents  at  Year  of  Entry  

Among  Previous  Year  and  Current  Year  Move-­‐In   90+  

14.5%   5.6%  

Age  Group  

85-­‐89  

11.1%  

Same  Store  all  opened   2001  or  before  

30.8%  

25.6%   27.8%  

80-­‐84  

29.1%  

<80   0%  

10%  

2012   2001   55.6%  

20%   30%   40%   Percent  within  Age  Group   Same  Store  

50%  

60%   3  


DistribuQon  of  Residents  by  Age   2001-­‐2012    All  ProperQes   90+  

12%  

Age  Group  

85-­‐89  

25%  

23%  

32%  

2012   2001  

25%   32%  

80-­‐84  

18%  

<80   0%  

10%  

33%   20%   30%   40%   Percent  within  Age  Group   All  in  2012  

50%   4  


Self-­‐RaQng  of  Health   100%   90%  

16%  

24%  

80%   70%   60%   50%  

49%  

Excellent   Good  

55%  

40%  

Fair  

30%  

Poor  

20%  

29%  

10%  

20%  

0%  

2%   2001  

6%   2012   Same  Store  

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Use  a  Walker    

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Fallen  in  Past  6  Months   2001  

2012  

50%   45%   40%   35%   30%   25%   20%   15%   10%   5%  

34%  

33%   25%   15%  

16%  

14%  

0%   CCRC  -­‐  EF  

Combined  

Free-­‐standing   7  


MeeQng  ExpectaQons:    2001  and  2012   AcQviQes  and  RecreaQon  –  Same  Store   100%   90%   80%  

24%  

34%  

Exceeded  

70%   60%   50%   40%  

Met   57%   54%  

30%   20%   10%   0%  

17%   2%   2001  

8%   5%  

Nearly   met   Not  met  

2012   Same  Store  

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MeeQng  ExpectaQons:    2001  and  2012   Food  Service  –  Same  Store   100%   90%  

18.9%  

30.7%  

80%  

Exceeded  

70%   60%  

47.4%  

50%  

47.6%  

40%   30%   20%   10%  

Met   Nearly  met  

18.9%   13.4%   14.7%  

8.3%  

0%   2001  

Not  met  

2012   Same  Store  

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MeeQng  ExpectaQons:    2001  and  2012   Housekeeping  –  Same  Store   100%   90%  

15.1%   34.4%  

80%  

Exceeded  

70%   60%   50%  

Met  

60.2%   51.2%  

40%  

Nearly  met  

30%   20%   10%   0%  

19.4%   5.4%  

10.8%   3.6%  

2001  

2012   Same  Store  

Not  met  

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This  Community  Offers  Me  Good  Value  for  My   Money  –  Combined  IL/AL   100.0%   90.0%  

24.3%  

12.5%  

11.8%  

80.0%   70.0%   60.0%   50.0%  

45.7%  

Strongly  agree   Agree  

45.5%  

Neutral  

40.0%  

Disagree  

30.0%   20.0%   10.0%   0.0%  

29.1%  

Strongly  disagree  

23.0%   6.8%  

0.4%   2001  

9.9%   2.8%   2012   Combined  IL/AL  

5.5%   11  


I  Consider  This  Community  My  Home  –   Combined  IL/AL   100.0%   90.0%   80.0%  

43.4%  

21.9%  

21.5%  

70.0%  

Strongly  agree  

60.0%  

Agree  

50.0%  

60.5%  

40.0%   30.0%  

Disagree  

49.2%  

Strongly  disagree  

20.0%   10.0%   0.0%  

7.0%   0.4%   0.0%   2001  

Neutral  

15.0%   0.8%   2.2%   2012   Combined  IL/AL  

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SaQsfacQon  with  Quality  of  Life     in  Community   100.0%   90.0%  

0.7%  2.1%  

0.7%   6.9%  

14.3%  

80.0%   70.0%  

47.4%  

DissaQsfied  

60.0%  

51.6%  

50.0%  

Neither  saQsfied  nor   dissaQsfied  

40.0%   30.0%   20.0%  

Very  dissaQsfied  

45.0%  

10.0%  

SaQsfied  

13.7%   31.3%  

Very  saQsfied  

0.0%   2001  

2012   Combined  IL/AL  

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1.  Consumers  choose  what  they  want,  rather  than  what  they  need.   2.  Hyper-­‐abundance  and  choice.   3.  Consumers  don’t  like  wasQng  their  Qme,  money  or  effort  on   anything.   4.  Your  compeQQon  is  everywhere  and  everything.   5.  Must  be  aware  of    innovaQons  from  around  the  world.   6.  Consumers  are  more  aware  of  and  excited  by  companies  that    get   ‘it’  right  (customer  service,  markeQng  tone,  design  or  usability).    

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Buy   15  


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Do  not  want  seniors  housing.  

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1. Consumers  crave  informa9on.   2. And  can  get  it  from  anywhere  in  the  world  and   have  it  translated  to  their  language.   3. Online,  everyone  has  a  voice  –  and  know  their   power.   4. Consumers  use  reviews  to  ensure  the  perfect   purchase.   22  


CLEAR HEALTH COSTS

Crowdsourcing platform informs patients of healthcare prices in the local area 23  


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TRANSPARENCY    

Appropriate,  relevant,  personal  and  useful   informa9on  that  is  delivered  wherever,   whenever  and  however  they  need  it.  

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WELLTHY GOOD HEALTH IS NOW AS IMPORTANT TO SOME CONSUMERS AS HAVING THE BIGGEST, NEWEST OR SHINIEST STATUS SYMBOLS

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WELLTHY | SIGN OF THE TIMES “73% of consumers consider being physically fit important to being ‘well,’ with 74% including ‘feeling good about themselves’ .” - The Hartman Group, August 2010

What  does  this  mean  for  you  in  what  you  do?   27  


The happiest moments of the happiest life….are here and now.   You    must  know  what  makes  your   prospecQve  buyers  happy.   28  


Total  Qmes  telephone  dialed   Total  number  of  households  contacted     Refused   Disqualified  -­‐  living  in  age-­‐qualified  housing   Disqualified    -­‐  <  70  years  of  age   Completed  telephone  survey   Total  number  of  households  qualified  and   invited  to  complete  mail  survey   Agreed  to  complete  mail  survey   Completed  and  returned  mail  survey  

85,646   22,337   100%   16,607   74%   492   2%   514   2%   4,724   21%   3,974   18%       1,204   30%   488   41%  

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Recently  (approximately  last  3  years)  tried  to   sell,  sold,  or  thought  about  selling  home.      

                                   7%        

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Selling  of  Home  by  7%  of  Non-­‐Residents  

Thought   about  selling   45%  

Sold  home   40%  

Tried  to  sell     16%  

62%  at   desired   price     3  months     38%  less   than   desired   ($53,000)   8  months    

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Aware  of  IL  Community  in  Area  

76%  

<  75  

73%  

71%  

67%  

75  to  79   80  to  84   85  to  89  

56%  

90+  

Age  Group   32  


70%  of  4,718  aware  of  IL  community     18%    knew  name  of  a  community  in  their  area     51%    heard  of  subject  community  

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Number  of   CommuniQes   (Total  =  91)   Winner   2   2   1   9   13   49   14  

Percent  of   Telephone   Respondents   Named   Community   86%   53%   40%  to  47%   30%   20%  to  27%   10%  to  19%   1%  to  9.9%   0  %   34  


Opinion  of  Community   44%  

23%  

28%  

3%   Very   posiQve  

Somewhat   Somewhat   posiQve   negaQve  

1%   Very   No  opinion   negaQve   35  


Opinion  of  Independent  Living   Community   Near  Term   44%   41%  

Next  Wave  

48%   51%  

5%   7%   Very  posiQve  

Somewhat   posiQve  

Somewhat   negaQve  

3%   2%   Very  negaQve  

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Reason  for  NegaQve  Opinion   Expensive,  cost  too  much,  can't  afford  

49%  

Too  confining  

17%  

Rules/regulaQons  

11%   8%  

Poor  quality  of  care   Unappealing  atmosphere  

7%  

Poor  locaQon  

6%  

Prices  keep  going  up  

5%  

Being  with  only  older  people,  frailer  people  

5%  

Don't  know  

2%  

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Percent  Who  Felt  at  Least  A  LiRle  to  Very  Lonely    by  Health  Status  

41%   26%   19%   12%   Excellent  

Good  

Fair  

Poor   38  


Very  PosiQve  Opinion  by  Loneliness   63%   41%  

42%  

45%  

Not  at  all   lonely  

A  liole   lonely  

Somewhat   lonely  

Lonely  

58%  

Very  lonely  

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Among  those  unlikely  to  move….   What  could  community  do?   Lower  Costs   Variety  of  ages/people   Beoer  care   Larger  residences/make  more   spacious   Increase  services/ameniQes   Hire  more  staff   Allow  pets  

N   Percent   60   48%   12   10%   11   9%   8  

6%  

7   6   4  

6%   5%   3%   40  


Likelihood  of  Moving  to  Independent  Living   27%  

27%  

26%  

Neither   likely  nor   unlikely  

Unlikely  

Very   unlikely  

16%  

4%   Very  likely  

Likely  

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SaQsfacQon  with  Daily  Life   Non-­‐Resident   41%  43%  

Resident  

45%   43%  

12%  10%   0.9%  3%   Very   saQsfied  

SaQsfied  

0.2%  0.6%  

Neither   DissaQsfied   Very   saQsfied  nor   dissaQsfied   dissaQsfied   42  


Percent  of  Non-­‐Residents  Thinking  of  Moving  by  Type  of   Neighborhood  Considered  for  New  Residence   To  an  independent  living  community   To  a  house  in  a  neighborhood  that  is  restricted  to  people  55+   House  in  a  neighborhood  where  people  of  any  age  live   A  rental  apartment  that  does  not  include  any  services   To  an  assisted  living  community   To  a  conQnuing  care  reQrement  community   To  the  home  of  a  family  member   To  a  nursing  care  facility   (Note:    Columns  do  not  add  up  to  100%  because  more  than  one   opQon  could  have  been  selected)  

52%   26%   24%   22%   19%   18%   13%   7%  

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Would   consider   IL  

What  They  are  Looking  for  in     an  Independent  Living  Community   Less  home/yard  maintenance   Dining/Food  Services   Less  lonely/Around  other  people   AmeniQes  available   Making  new  friends   Safety/Security   Less  responsibility   AcQviQes/Services   Being  around  people  own  age   Having  own  private  space   Medical  support  available   Convenience  

28%   11%   11%   9%   7%   5%   5%   5%   4%   4%   3%   3%  44  


90%   80%   70%   60%   50%   40%   30%   20%   10%   0%  

IMPACT  OF    LIFESTYLE  ON     LIKELIHOOD  OF  PURCHASE     85%  

2025%     2025%  

4%   Before     Aqer   Lifestyle  shown  during    research   45  


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What  is  age-­‐qualified  housing?   Answer:   The  only  form  of  legal   discriminaQon  in  housing.   47  


aging  in  place   48  


what  the  prospect   and  customer   experience  cannot   be  leq  to  chance  

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What  the  prospect  and  customer  experience  must   match  their  spirit  of  life….not  their  limitaQons    

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We  must  focus  on  the  human  spirit…     not  age   not  limitaQons   not  care        the  spirit  of  the  individual…                                                                and  what  makes  them  happy       51  


Great Expectations: Keeping up With Changing Customers  

The constant momentum of evolving economic indicators, demographics, communications technology, and access to information will continue to h...

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