Generating More Financially Qualified Leads

Senior Living isn't a one-size-fits-all service, especially when it comes to finances. Many seniors fail to understand the full value of Senior Living and are unsure of what type of community is best for them. When generating leads, this issue can make it challenging to strike the right balance between encouraging prospective residents to explore their options and weeding out those who are unqualified financially.

At FIVE19, we've worked with over 80 Senior Living communities and experienced it all when it comes to attracting qualified leads. We’re sharing our experience to help you develop an effective strategy for generating more financially qualified leads.

Purchase List: Not Too High, Not Too Low Financially

Individuals exploring their Senior Living options fall into three financial categories — those who are overqualified, underqualified, or an ideal fit for your community. You can generate higher-quality leads and improve marketing outcomes by targeting your content toward those who are a good financial fit.

If your financial qualifiers are too high, you may struggle to sell one-bedroom or smaller floor plan units. If they're too low, you'll generate many leads who don’t know they can afford to live in your community, and you'll work hard to convince them they can. Either way, it can result in wasted effort and resources and slow down the time it takes to fill units.

Your goal is to find the right mix of net worth and assets that would make someone a good financial fit, without swinging too far in either direction. Here are some tips to make this happen:

• Review and analyze your current CRM data to identify the right financial qualifiers for your existing residents.
• Test various prospective community member lists to determine the source of your most qualified leads.
• Conduct ample market research to better understand current economic conditions and pinpoint financial roadblocks seniors face.
• Purchase diverse lead lists that include a mix of high- and low-end prospective residents, with a focus on those falling in the middle.

It’s important to hear from your residents, too! Asking questions about how they knew your community was the right fit or what research they did before committing can help you target more like-minded prospects. See how FIVE19 can help you better understand your residents' buying journey with immersion sessions. 

Transparent Pricing: This Can Be Scary but Effective

Are you currently offering transparent pricing on your website? The idea of including upfront pricing can seem scary. You may worry about scaring off seniors who don’t fully understand the value or affordability of Senior Living. Thanks to the internet, today’s seniors and their family members are better informed than ever before. According to a recent AARP study, 66% of adults over the age of 50 use technology to manage their social life, wellness, and finances. Your prospects are doing their research to find the right community! 

Many well-informed prospective residents are looking for straight facts and information. Making pricing visible on your website is an easy way to connect with prospective community members who are the right financial fit. It also can be effective at weeding out those who don't qualify or aren’t ready. You can also provide prospective residents with an affordability calculator to help them better understand their finances and Senior Living options.

Transparent pricing builds trust with prospective residents and their family members, making it more likely they’ll turn to your community when they're ready to make a move. Otherwise, you risk losing some high-quality prospective residents to communities that do offer this information. 

Affordability Calculator: Clear Up Any Confusion

A free and easily accessible affordability calculator is an excellent resource to display on your website. First, it can establish trust and engagement with prospective community members. Secondly, prospective residents can use the calculator to self-qualify for your community before reaching out. Finally, it helps interested seniors better understand the full value of Senior Living.

An affordability calculator gives seniors the ability to view their current financial position, including their income and assets. It also encourages them to consider not only their current expenses but also their potential costs, such as care costs and specialty needs. This gives seniors the information they need to make informed Senior Living decisions.

Content Language: Speak to a High-End Product

Your website, blogs, social media posts, and marketing materials should directly reflect your community’s culture and lifestyle. Ideally, prospective residents can determine if your community is high-end, luxury, moderate, or low cost just by viewing its content. This boils down to developing the right value propositions, crafting an accurate brand identity, and understanding your target audience.

For example, if you operate a high-end Senior Living community, let prospective residents know right from the start. Prominently display photos of your community’s luxury accommodations on your website and use videos to highlight its unique amenities, such as a swimming pool, spa, or state-of-the-art fitness center. Prospective residents should have a general feeling of what it’s like to live in your community before they even schedule a tour.

On the other hand, if your community is more affordable, highlight special value perks, such as low-cost entry fees or monthly rates. Be sure to mention all the services included in these fees, such as housekeeping, assistance with daily living activities, medication management, and health care services.

Using the right language and visuals in your content helps prospective residents better understand whether your community is a good fit.

Reach Out to FIVE19: Create an Effective Marketing Strategy Today

Are you struggling to convert leads into residents? You may be targeting the wrong prospective community residents or generating leads that aren’t a good financial fit. At FIVE19, we understand this struggle. Our team will work directly with you to better identify your target audience and develop content and resources to reach them.

Contact FIVE19 today to discuss your marketing strategy and how we can help you reach your goals.