How to Manage Leads That Don't Want the Available Inventory

Senior Living communities have a lot to offer prospective residents. From socialization opportunities to security and safety, older adults can enjoy numerous benefits when making such a move. However, when prospective residents first eye available inventory, which might be limited to one-bedroom or studio Senior Living spaces, they may want more.

At FIVE19, we've worked with communities across the country to help them fill more challenging floor plans with happy residents. Here are some ways you can better position smaller spaces when marketing to your prospective community members. 

Create Audience Segments

Start with your purchase list and see how it can be segmented to target the ideal audience. If you need to expand your criteria, consider specialty purchase lists. Think about who might benefit from smaller spaces like one-bedroom Senior Living apartments so you can target prospective residents appropriately with emails and ads.

Some options include:

• People already living in a smaller space. Someone living in an apartment or an in-law suite is already used to a compact floor plan. A studio or one-bedroom apartment may feel like a natural transition.
• Single older adults. A single person may not need more than one bedroom or a lot of extra storage or living space, making it easier to set up cozily in a smaller Senior Living apartment.
• Married older adults whose spouse requires Assisted Living or another level of care. When one partner needs a higher level of care, the other may prefer to downsize while still staying close. Communities that offer Assisted Living and Independent Living can position this as a unique value proposition for certain audience segments.

Generate Urgency

In this industry, it’s no secret that demand will soon surpass supply when it comes to Senior Living options. However, not every senior (or soon-to-be senior) is aware of this! Make sure your marketing content highlights the need to prepare and why it is so important to secure your future now. Demonstrate how quickly smaller spaces may be filled. Include statistics about how many people move into Senior Living communities each year and highlight incoming waves of boomer-generation residents. We’re not trying to scare people, but we do want to help prospective residents secure their place and show them that inventory won't sit around open for long. 

Highlight Benefits

Offer tours of your community to show off everything you offer outside the unit, including common spaces, dining rooms, gardens, or other amenities. Letting people explore your space, in-person or via virtual tours, helps them understand the difference between living in a single-residence home and living in a Senior Living community. While they might only have a small apartment, they have an entire community to be active in.

Ensure your tour includes access to a well-appointed unit. Hire decorators to make it look homey and attractive, and set up furniture to give people an idea of how much living they can actually do in the space. 

Demonstrate Social Proof

Ask existing residents for testimonials about the success of their move from a larger home. You can ask them to leave online Google reviews, write testimonials you can post on your website or social media pages, or participate in testimonial videos to tell their stories.

When people see that others have successfully downsized and are enjoying life in the community, they may look at your available inventory in a new light. 

Host Downsizing Events

Sometimes, it's not about the size of your available apartments. It may be fear or uncertainty about the downsizing process. Someone who has lived in a larger home with lots of belongings for many years may be hesitant to begin a process that sounds like a lot of work. By hosting downsizing events, you can offer helpful advice, connect older adults with resources in their community, and take the fear out of this type of move.

Some tips for effective downsizing events include:

• Offer a meal or light refreshments. Give people a reason to come out and enjoy some time with you.
• Include tours. Allow time for people to explore your community and see a well-appointed unit.
• Invite existing residents who've successfully downsized. Ask them to speak briefly or mingle with prospective residents and answer questions about their journey.
• Bring in local experts. Have moving companies, donation centers, and other resources available to talk about their services and help older adults see downsizing as less daunting. 
• Address common myths about Senior Living. As you create content for these events, consider frequent concerns, such as not being able to enjoy existing hobbies or needing to wait to move until a certain level of care is required.

Offer a Financial Fit Calculator

Make use of a “financial fit” calculator. These tools help seniors understand what they can afford, and help them find an ideal Senior Living apartment fit. These calculators also help your sales team understand the financial qualifications of your prospects and give them a better understanding of which units to tour and who to reach out to first. Prospective residents will answer questions about their assets, additional income, and second residents, if any. These calculators not only help your sales team reach more qualified prospects, but they can also help prospects better understand what they can afford. Some seniors might not realize how affordable your community is, while others might think they can afford more space than is realistic. Financial fit calculators help to address the areas of uncertainty and provide everyone with clear expectations. 

Be Realistic and Think Creatively to Manage Your Senior Living Unit Inventory

Be realistic about what you have to offer. If all you have available are very small spaces, you may find them more challenging to market. However, if you have more units than you can manage to fill, you can also think creatively. Consider whether you can remodel apartments to create more space, such as opening up floor plans. Or, think about knocking down walls and converting studios or one-bedroom spaces into two-bedroom units you can market at a higher price point.

For help marketing the inventory you have, connect with us at FIVE19 today.