Seniors Housing Business

ASHA 2018

Seniors Housing Business is the magazine that helps you navigate the evolution of the seniors housing industry.

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Page 72 of 80

AS H A 50 72 2018 ASHA 50 2018 gets out that a particular community has what it takes. Oversupply concerns In 2017, over 30,000 seniors housing units opened within the primary and secondary markets tracked by the National Investment Center for Seniors Housing & Care (NIC). In short, we have a lot of new units that have recently come on line or are in the develop- ment pipeline. Is there a limit to the pool of available quality operators to manage these new communities? Grust: Clearly, our credibility as an industry is only as good as the operators who are delivering service to the customers. This is a complex business. I first got into the business 31 years ago. Prior to opening our first community, we conducted a survey to not only identify what the market was looking for in seniors housing, but also to learn how respondents perceived the particular setting. There was total confusion. They didn't know if we were a nurs- ing home. Early on in the business, [the concept] was very, very foggy. People would ask, "What is this, a hotel, a retirement hotel?" Then you had a surge of real estate developers who got into the business and said, "Well, this is great. We'll just slap on food service and fill up in 18 months." They ignored the complexity of the man- agement model. They just assumed that you add this component and you get a rent premium. Certainly, we all know the industry has evolved to become a far more complex offering, not just in terms of what we need to deliver to the consumer, but also from a risk management standpoint. You are entrusted with people's lives. You've got to have a culture. You need to inspire and train people to understand who our customer is, what our responsibilities are and what expectations we have. We all gain by that approach. Website traffic increases Where You Live Matters, the consumer education initiative launched by ASHA, has been up and running for a few years. David, can you tell us how the website is performing? David Schless: In 2016, the first year we launched Where You Live Matters, we had approximately 25,000 visitors. In 2017, we had over 105,000 visitors. Through the end of SeniorIDâ„¢ adds intelligence to your marketing strategy. We use our SeniorID consumer profiling tool to identify insights about your community target audiences and tailor messaging by market to maximize lead generation. We layer various demographic, psychographic and behavioral data with actual and potential buyer data and establish unique pictures of the senior who's most likely to purchase in each market. Once identified, we incorporate these insights into our recommendations in various ways. We think in terms of programs, not tactics. Today more than ever, it takes a multichannel campaign to engage your full prospect base and drive lead inquiry. It starts with planning. Our ability to drive sufficient lead volume to support sales goals is grounded in smart planning. BUYERS MOVE TO LEADS PROJECT INTO THE MARKET 8880 Ward Parkway, Suite 400 Kansas City, MO 64114 913-491-0600 | The leader in senior living marketing solutions Interview with Grust and Schless

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