DiscoverFrom Leads to Leases
From Leads to Leases
Author: Jerry Vinci
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Description
"From Leads to Leases," hosted by Jerry Vinci of CCR Growth, dives into senior living marketing, sales, and growth strategies. It targets industry professionals looking to boost occupancy, explore successful marketing channels, and innovate in a competitive market. This podcast offers insights, discusses industry challenges, and shares success stories, aiming to empower senior living leaders with actionable strategies for growth. Join us for transformative conversations designed to elevate the senior living community experience.
29 Episodes
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Summary
In this episode, Jerry Vinci interviews David Kolesnikow, the founder and CEO of Boomernology, a tech support service for baby boomers and seniors. They discuss the importance of digital literacy for older adults, strategies for protecting seniors from online scams and cybersecurity threats, and the role of technology in enhancing their quality of life. David shares his background and how he accidentally started Boomernology, and emphasizes the need for personalized tech support and building one-on-one relationships with clients. The top challenges facing older adults in technology are fear of being left behind, lack of digital literacy, and feeling overwhelmed. David also highlights the importance of password management, cybersecurity, and software updates as common tech issues faced by older adults. Boomernology aims to provide personalized tech support to seniors and empower them to navigate the digital world with confidence. They emphasize the importance of software updates and restarting devices to ensure optimal performance. Boomernology also collaborates with organizations to raise awareness about elder fraud and cybersecurity. They believe that AI can be beneficial in senior care facilities, helping to understand residents' preferences and improve services. Boomernology's future plans include building a solid foothold in New York City and expanding across the country. They emphasize the importance of one-on-one relationships and providing empathy in tech support. They also recommend that senior living providers have a dedicated tech support team and create leave-behind materials for residents.
Takeaways
Digital literacy is crucial for older adults to navigate the increasingly digital society.
Personalized tech support and building one-on-one relationships with clients are essential for empowering older adults and making them feel cared for.
The top challenges facing older adults in technology are fear of being left behind, lack of digital literacy, and feeling overwhelmed.
Common tech issues faced by older adults include password management, cybersecurity threats like phishing and malware, and software updates. Software updates and restarting devices are crucial for optimal device performance.
Collaboration with organizations is important to raise awareness about elder fraud and cybersecurity.
AI can be beneficial in senior care facilities to understand residents' preferences and improve services.
Building one-on-one relationships and providing empathy in tech support is essential.
Senior living providers should have a dedicated tech support team and create leave-behind materials for residents.
Chapters
00:00 Introduction and Background
02:13 Founding Boomeranology: Bridging the Digital Divide
06:09 The Role of Boomeranology: Personalized Tech Support
12:59 Challenges Facing Older Adults: Digital Literacy and Cybersecurity
15:22 The Impact of Technology on Quality of Life for Seniors
19:39 Bridging the Digital Divide
22:29 Personalized Support for Baby Boomers
24:38 Top Tech Issues for Older Adults: Password Management, Cybersecurity, and Software Updates
29:08 Boomernology's Client Profile & Educating the Public
38:55 Exploring the Potential of AI
43:55 Future Plans for Boomernology
45:36 Advice to Senior Living Providers Looking to Enhance Tech Infrastructure
Summary
In this episode, Jerry Vinci discusses ageism in America and its impact on the senior living industry. He highlights the recent presidential debate as an example of ageism in politics and explores how modern medicine and lifestyle changes are allowing people to live longer, healthier lives. Vinci emphasizes the need to shift the narrative from focusing on age to focusing on the stage of life someone is in. He also suggests ways for senior living communities to cater to the needs of active older adults, such as promoting active lifestyles, offering professional development opportunities, and highlighting outside community engagement.
Takeaways
Ageism is a form of discrimination based on someone's age, and it is prevalent in various aspects of society, including politics and the senior living industry.
Modern medicine and lifestyle changes have allowed people to live longer, healthier lives, challenging traditional views on aging and retirement.
Senior living communities should shift their focus from age to the stage of life someone is in and cater to the needs of active older adults.
Promoting active lifestyles, offering professional development opportunities, and highlighting community engagement are effective strategies for attracting and supporting active older adults.
Senior living communities can combat ageism by celebrating the achievements and contributions of their residents and advocating for age-friendly policies.
Chapters
00:00 Ageism in America and the Presidential Debate
07:11 Redefining Aging: Focusing on Stage of Life
13:06 Modern Medical Advancements and Life Expectancy
14:55 Catering to Active and Engaged Older Adults in Senior Living Communities
18:41 Challenging the Traditional View of Retirement
19:51 How Active Senior Living Residents Contribute to Your Community Culture
22:55 The Evolving Perspective of Retirement
23:48 Strategies for Senior Living Providers to Appeal to a Broader Audience
27:52 The Changing View of Aging in America
Summary
In this conversation, Jerry Vinci interviews Steven VanderVelde, the Director of Senior Living Partnerships at ProviNET Solutions. They discuss the latest trends in senior living technology, the importance of strategic IT planning, and the potential of emerging technologies like AI and robotic process automation. They also highlight the challenges facing the senior living industry, such as technical debt and disparate tech investments. Steven emphasizes the need for communities to embrace technology and keep up with the evolving landscape to meet the expectations of future seniors. Senior living providers can enhance their IT infrastructure by investing in disaster recovery plans, staying updated with technology trends, and prioritizing cybersecurity. Collaboration with other providers and networking at industry conferences is crucial for sharing best practices and learning from each other's successes and failures. It is important to make strategic investments in technology that align with the overall business goals and resident needs. ProviNET offers expertise and support in IT infrastructure, disaster recovery, and cybersecurity.
Important Links:
Connect with Steven VanderVelde
Learn more about ProviNET Solutions
Takeaways
The senior living industry needs to embrace technology and keep up with the evolving landscape to meet the expectations of future seniors.
Challenges in the industry include technical debt, where some communities have not kept up with technology, and disparate tech investments that may not align with the overall strategy.
The future of senior living tech will see a widening gap between providers who have embraced technology and those who haven't.
Artificial intelligence and robotic process automation are emerging technologies that can improve efficiency and enhance the resident experience.
Data-driven decision-making is crucial for senior living communities to optimize operations and provide better services.
IT strategic planning and EHR consulting help communities define their technology goals and create a roadmap to achieve them. Invest in disaster recovery plans and ensure they are in place and regularly tested.
Stay updated with technology trends and collaborate with other providers to learn from their experiences.
Prioritize cybersecurity and consider engaging with experts to identify vulnerabilities and strengthen security measures.
Make strategic investments in technology that align with the overall business goals and resident needs.
Chapters
00:00 Introduction & Background on Steven VanderVelde
01:27 Exploring the Latest Trends in Senior Living Tech
04:32 Steven's Role as Director of Senior Living Partnerships
07:54 Senior Living's Challenge of Technical Debt
11:36 COVID's Influence on Tech Integration
13:05 Future of Tech & IT in Senior Living
16:23 The Role of Artificial Intelligence and Robotic Process Automation
19:53 A Human-Centered Approach to Technology in Senior Living
21:23 ProviNET's EHR & IT Planning
29:19 The Value of Data in Marketing
32:23 Modern Day Technology Failures
36:16 Investing in Infrastructure, Disaster Recovery, and Cybersecurity
43:33 Staying Updated with Technology Trends
43:33 The Importance of Trust and Verification in AI
47:49 How Providers Can Enhance Their Technology Infrastructure
52:05 Make the Right Investments in Technology
54:10 The Value of Networking at Industry Conferences
57:33 Wrap Up
Summary
In this episode, Caleb Richardson, CEO of Senior Care Academy and Helperly, discusses his innovative approach to senior care and the impact of technology on the industry. He shares strategies for marketing, retention, and scalability, as well as the importance of addressing senior loneliness. The conversation also touches on the challenges facing the senior living industry, including the high attrition rate and the need for rebranding and education. Caleb predicts that the industry will evolve towards more options for housing and a shift in mindset towards downsizing. In this conversation, Caleb Richardson, the CEO of Senior Care Academy and Helperly, discusses the importance of combating loneliness and enhancing the quality of life for seniors in senior living communities. He emphasizes the need for personalized care and meaningful connections, and shares how his platforms provide activities, classes, and companionship to seniors. Caleb also highlights the role of technology in home care and senior living, including the use of AI for predictive analytics and improving operations. He offers advice for senior living providers on marketing, technology infrastructure, and enhancing services for residents.
Important Links:
Learn more about Senior Care Academy
Learn more about Helperly
Connect with Caleb Richardson on LinkedIn
Takeaways
Technology and personalized services can help senior living communities increase resident referrals and fill their buildings.
The attrition rate or churn of clients is a major challenge in the senior living industry.
Rebranding and education are needed to change the negative connotations associated with nursing homes and retirement communities.
The industry needs to address the housing crisis and provide more options for senior living.
A shift in mindset towards downsizing is expected as the older generation with a hoarding mentality is replaced by younger, more open-minded seniors. Combatting loneliness and enhancing the quality of life for seniors is crucial in senior living communities.
Personalized care and meaningful connections are essential for seniors' well-being.
Activities, classes, and companionship can help seniors stay engaged and connected.
Technology, such as AI and predictive analytics, can improve home care and senior living operations.
Senior living providers should focus on top-of-funnel marketing and collecting contact information to attract more residents.
When implementing technology, consider the cost savings and efficiency it can provide.
Stay informed about industry trends and innovate to meet the changing needs of seniors.
Chapters
00:00 Introduction and Background
08:13 Challenges in the Senior Living Industry
15:12 The Future of Senior Living
24:11 Generating Resident Referrals and Community Engagement
28:00 The Role of Technology in Home Care and Senior Living
30:51 Combatting Loneliness and Enhancing Quality of Life
37:30 Effective Marketing Strategies for Senior Living Providers
41:21 Staying Ahead of Trends and Innovating in Senior Living
46:09 Staying Connected with Senior Care Academy and Helperly
Summary
In this episode, Jerry Vinci interviews Tess Quinn, a registered nurse and senior living advocate, about the importance of empathy, active listening, and thoroughness in providing transparent and unbiased advocacy services for families navigating senior living transitions. Tess shares her personal and professional experiences in the healthcare industry and how they have shaped her approach to finding the right community for older adults. She emphasizes the significance of education, transparency, and addressing the concerns and preferences of families during the decision-making process. Tess also discusses the challenges families face and the importance of having conversations about senior living options sooner rather than later. Tess Quinn, from Senior Living Specialists Chicago, discusses her approach to helping families find the right senior living community. She emphasizes the importance of working as a team with the family and utilizing their knowledge and preferences. She also highlights the need for education and information gathering, as families often struggle to navigate the numerous options available. Quinn provides personalized and detailed support, offering recommendations based on the family's needs and preferences. She also emphasizes the importance of building relationships with both families and communities. Quinn believes that the industry can better support older adults and their families by focusing on staff training and recognition, as well as providing resources and support for families during the transition process.
Takeaways
Empathy, active listening, and thoroughness are essential in providing transparent and unbiased advocacy services for families navigating senior living transitions.
Education is empowering and helps individuals make educated decisions about senior living options.
Transparency and addressing concerns and preferences are crucial in helping families understand the potential risks and benefits of senior living transitions.
Having conversations about senior living options sooner rather than later can help families make informed decisions and avoid crisis situations. Working as a team with families and utilizing their knowledge and preferences is crucial in finding the right senior living community.
Education and information gathering are essential, as families often struggle to navigate the numerous options available.
Providing personalized and detailed support, including recommendations based on the family's needs and preferences, is key to streamlining the community search process.
Building relationships with both families and communities is important for effective advocacy and support.
The industry can better support older adults and their families by focusing on staff training and recognition, as well as providing resources and support during the transition process.
Chapters
00:00 Introduction and Overview
03:18 Becoming a Senior Living Advocate
04:49 Navigating Resistance and Guilt in Senior Living Transitions
07:51 The Consequences of Waiting Too Long to Make a Move
09:36 The Role of Empathy, Active Listening, and Compassion
14:24 The Value of Clinical Experience in Senior Living Advocacy
16:57 Working with Families and Common Challenges
18:33 The Importance of Early Conversations and Planning
20:52 Transitioning to Senior Living: Streamlining the Process
22:22 Introduction: Helping Families Find the Right Senior Living Community
24:37 Providing Personalized Support and Guidance
26:36 How Tess Helps Families Choose the RIght Community
30:29 Collaboration and Flexibility in Community Recommendations
32:56 Determining Factors For Recommending One Community Over Another
36:07 Balancing Information Gathering and Overwhelming Families
38:12 Supporting Families Not Ready for a Transition
39:53 Advice to Families: Early Conversations and Available Resources
42:11 Advice to the Industry: Staff Training and Creating a Positive Culture
Summary
In this conversation, Jerry Vinci interviews Jeremy Clerc, CEO of Assisted, about the positive transformation that innovative referral agencies can bring to the senior living industry. They discuss the challenges faced by both communities and prospective residents, such as the broken traditional referral systems and the gap in occupancy. Jeremy explains how Assisted addresses these pain points by ensuring communities control their own narrative, providing tour-ready leads, and offering a source of truth for senior living. They also highlight the importance of data, transparency, and the human touch in senior living referrals. In this conversation, Jeremy discusses the challenges and opportunities in the senior living referral process. He highlights the two main narratives in the industry: the sales director's perspective of wanting qualified leads and the desire to control the narrative. Assisted utilizes data to enhance decision-making for both communities and families, focusing on key variables such as cost, location, and pet policies. They also prioritize personalized touch and compassionate service, balancing technology with human interaction. Assisted limits the number of communities they recommend to ensure quality and reduce overwhelm for families. They collect reviews internally to gauge community performance and maintain transparency. In the future, Assisted aims to acquire more customers, improve efficiency in matching individuals with suitable options, and shift the incentives in the industry.
Episode Links:
Assisted's Website
Jeremy Clerc's LinkedIn
Assisted on LinkedIn
Assisted on Facebook
Assisted on Instagram
Assisted on TikTok
Takeaways
Innovative referral agencies can positively transform the senior living industry.
Traditional referral systems are broken and can lead to negative outcomes for both communities and prospective residents.
There is a gap in occupancy in senior living communities, which can be attributed to various factors such as lack of awareness, financial issues, and complex paperwork.
Assisted addresses these challenges by allowing communities to control their own narrative, providing tour-ready leads, and offering a source of truth for senior living.
Data, transparency, and the human touch are crucial in senior living referrals. The senior living referral process faces challenges such as the need for qualified leads and the desire to control the narrative.
Data is utilized to enhance decision-making, focusing on key variables like cost, location, and pet policies.
Assisted balances technology with personalized touch to provide compassionate and effective placement processes.
They limit the number of communities recommended to ensure quality and reduce overwhelm for families.
Reviews are collected internally to gauge community performance and maintain transparency.
In the future, Assisted aims to acquire more customers, improve efficiency in matching individuals with suitable options, and shift incentives in the industry.
Chapters
00:00 Introduction and Overview
01:15 Jeremy Clerc's Background and Assisted's Approach
03:38 How Assisted Was Created
07:34 Addressing the Pain Points of Traditional Referral Systems
13:58 The Gap in Occupancy in Senior Living Communities
16:22 Why Senior Living Communities Have Occupancy Gaps
22:10 How Assisted Generates More Tour Ready Leads
24:38 Building Personalized Relationships with Communities
26:10 How Assisted Helps Shorten the Sales Cycle
28:30 Utilizing Data for Informed Decision-Making
29:34 Managing Community Profiles for Accuracy
32:37 Collecting Feedback to Improve Services
33:29 How Assisted Handles Reputation Management
36:14 How Assisted Utilizes a Personalized Touch to Relationships
38:46 Limiting Recommendations for Quality and Clarity
44:36 Future Developments: Rapid Customer Acquisition and Improved Matching
Summary
In this episode, Jerry Vinci discusses the pitfalls of relying on referral agencies like A Place for Mom and Caring.com in the senior living industry. He sheds light on the unsettling truths and lack of trustworthiness of these services. Vinci emphasizes the importance of developing internal systems for lead generation and growth, rather than relying solely on referrals. He highlights the negative impact of referrals on marketing assets, reputation management, and cost of acquiring new prospects. Vinci also discusses the lack of transparency, accountability, and ethical practices of these referral agencies.
Takeaways
Relying on referral agencies like A Place for Mom and Caring.com can damage a community or brand's reputation and lead to losing control over marketing assets.
Developing internal systems for lead generation and growth should be a priority, with referrals complementing the strategy rather than replacing it.
Relying on referrals significantly impacts the cost of acquiring new prospects and moving them through the sales pipeline.
Referral agencies lack transparency, accountability, and ethical practices, which can put vulnerable older adults at risk.
Senior living providers should prioritize transparency, expand facility networks, implement regular audits, provide consumer education, and adopt ethical business practices.
Chapters
00:00 Introduction and Overview
00:55 The Untrustworthiness of Referral Agencies
07:53 The Dominance of A Place for Mom and Caring.com
11:57 The Lack of Transparency and Manipulated Reviews
13:21 Referral Agencies Impact on Senior Housing Affordability
15:35 Referral Agencies & Manipulated Reviews
16:30 Pitfalls of Allowing Referral Agencies to Manage Your Community's Reputation
18:33 The Importance of Accountability and Consumer Education
21:23 Key Points about Caring.com
25:12 Why Top Referral Agency Influence Matters
26:01 Improving Referral Agencies: Transparency, Expansion, Audits, Education, and Ethics
31:37 Alternative Referral Partners and Direct Marketing Strategies
32:42 Wrap Up & Summary
33:35 Conclusion and Call for Action
34:19 CCRG-Podcast-VIDEO-OUTRO.mp4
Summary
In this episode, Jerry Vinci and Jen Davis discuss understanding search intent and how it is crucial for senior living providers to tailor their advertising campaigns. They highlight the importance of using keywords that indicate a strong intent to find a senior living community, such as 'find senior living near me' or 'move-in special'. They also explore how family dynamics influence the search and decision-making process, as adult children may search differently from seniors and have different preferences. They emphasize the need for aligning ad messaging with website content to create a seamless user experience. Additionally, they discuss effective content strategies for different types of search intent, such as using a cost calculator for cost-based searches and targeting long-tail keywords for more specific and higher quality leads. The principal themes of the conversation are: 1) Using long-tail keywords in paid search for senior living communities, 2) The importance of local targeting in paid search, 3) Optimizing landing pages for long-tail keywords, 4) The impact of mobile search on senior living options, and 5) Creating compelling local ad copy.
Takeaways
Understanding search intent is crucial for senior living providers to tailor their advertising campaigns effectively.
Keywords that indicate a strong intent to find a senior living community, such as 'find senior living near me' or 'move-in special', are important to target.
Family dynamics play a role in the search and decision-making process, as adult children may have different preferences and search behavior compared to seniors.
Aligning ad messaging with website content is essential to create a seamless user experience and avoid disconnects.
Effective content strategies include using a cost calculator for cost-based searches and targeting long-tail keywords for more specific and higher quality leads. Long-tail keywords are important in paid search for senior living communities, including cost-based, amenity-related, and condition-based keywords.
Optimizing landing pages for long-tail keywords can be done through bulleted lists, using synonyms, and including the major city or suburb in the content.
Local targeting is critical in paid search for senior living communities, with a focus on 'in my area' or 'near me' searches, as well as specific city or neighborhood searches.
Mobile search behavior has shifted, and it's important to ensure visibility on mobile devices by using mobile device bidding and optimizing ad copy for mobile.
Creating compelling local ad copy involves including the city or major city in the ad, emphasizing location in the landing page, and using relevant images.
Chapters
00:00 Understanding Search Intent and Tailoring Advertising Campaigns
06:39 The Impact of Family Dynamics on Search and Decision-Making
10:14 Addressing the Needs of Older Adults and Their Families with Paid Search
13:35 Alignment of Website Content with Ad Messaging
15:57 Effective Content Strategies that Align with Search Intent
18:20 The Efficacy of Long-Tail Keywords in Search Marketing
24:34 Local Targeting and Visibility for Senior Living Communities
28:24 Optimizing and Reaping the Benefits of Ad Extensions
33:04 The Rise of Mobile Search and User Behavior
38:28 Jen's Best Advice For Creating Local Ad Copy
Summary
In this conversation, Jerry Vinci and Jen Davis discuss the technical aspects of paid search campaigns in the senior living industry. They cover topics such as budget allocation, targeting, lead quality, and measuring ROI. They emphasize the importance of understanding the unique needs and preferences of the senior living audience and tailoring advertising campaigns accordingly. They also highlight the shift in the industry from a health-centric focus to a lifestyle-centric focus, and the need to reposition senior living communities as vibrant and engaging places to live. Overall, the conversation provides valuable insights for senior living marketing and sales professionals.
They also cover topics such as analyzing year-over-year data, budget pacing, the importance of lead quality, and the use of responsive ads. They compare the advantages of using Google and Bing for advertising and highlight the benefits of testing new strategies. The conversation concludes with a reminder that successful lead generation requires a combination of effective advertising and a strong community and sales team.
Takeaways
Understanding the technical aspects of managing a paid search campaign is crucial for success in the senior living industry.
Budget allocation should consider the location of the facility, targeting preferences, and the target audience.
Lead quality and conversion rates are important metrics to track and measure the success of paid search campaigns.
The shift in the senior living industry from a health-centric focus to a lifestyle-centric focus requires repositioning and tailored advertising strategies.
Paid search campaigns can provide quick wins and fill the lead pipeline while SEO efforts catch up.
Monitoring click-through rates, impressions, clicks, and leads on a regular basis helps optimize ad spend and campaign performance. Analyzing year-over-year data can provide valuable insights for budget pacing and identifying trends in lead generation.
Lead quality is crucial in paid search campaigns, and it's important to understand where leads are coming from and adjust strategies accordingly.
Responsive ads allow for more flexibility and customization in ad copy, helping to resonate with both older adults and their families.
Both Google and Bing have their advantages, and it's worth testing campaigns on both platforms to maximize reach and results.
Testing new strategies and analyzing results is key to optimizing paid search campaigns and identifying what works best for each community.
Successful lead generation requires a combination of effective advertising and a strong community and sales team.
Chapters
00:00 Introduction and Overview
02:40 How Jen Got Started in Paid Search Marketing
07:07 The Shift to Lifestyle-Centric Marketing
08:29 Budget Allocation and Targeting
15:38 Understanding Search Intent and Location
19:17 Tracking ROI of Paid Search Marketing
25:20 Monitoring Metrics for Campaign Effectiveness
31:43 Optimizing Budget and Automation Tools for Paid Search
35:28 Creating Effective Responsive Ads for Senior Living
43:37 The Differences Between Google and Bing for Senior Living Campaigns
49:34 Additional Features and Functionalities to Consider in Google and Bing
51:36 Testing Strategies and Analyzing Lead Quality and Conversion Rates
53:32 Understanding How People Search and Adjusting Ad Copy
Summary
In this episode, Jerry Vinci interviews Larry Mikell, the Deputy Executive Director of America's Senior Living, about the intricacies of acquiring senior living communities. Larry shares his personal connection to the industry and how he was drawn to the opportunity to provide better care for older adults. They discuss the fragmented nature of the senior living industry and the challenges and opportunities it presents for acquisitions. Larry explains the typical process for acquiring a senior living community, including evaluating the seller's psychology, conducting property inspections, and assessing the value of digital assets. They also explore the challenges of meeting the housing needs of the growing senior population and the importance of providing quality care and amenities. Finally, they touch on the issue of aging inventory and the need to ensure that newly acquired properties meet modern standards. America Senior Living focuses on acquiring and revitalizing existing senior living communities, with a focus on the lower and middle market. They repurpose and renovate older buildings to create senior safe properties, and also convert hotels into senior living communities. They conduct market analysis to ensure their communities remain competitive and affordable for residents. Their future goals include adding 1,000+ beds to their portfolio and creating a product that meets the needs of the middle market. They emphasize the importance of having a passion for the senior living space and adding value to the community.
Takeaways
Acquiring senior living communities involves evaluating the seller's psychology, conducting property inspections, and assessing the value of digital assets.
The senior living industry is highly fragmented, with various types of communities and facilities catering to different needs.
Meeting the housing needs of the growing senior population requires providing safe communities, quality care, good food, and a range of amenities.
The challenge of aging inventory in senior living communities necessitates ensuring that newly acquired properties meet modern standards.
The senior living industry needs to adapt to the increasing life expectancy and changing retirement age of older adults. America Senior Living focuses on acquiring and revitalizing existing senior living communities in the lower and middle market.
They repurpose and renovate older buildings to create senior safe properties, and also convert hotels into senior living communities.
Market analysis is conducted to ensure their communities remain competitive and affordable for residents.
Their future goals include adding 1,000+ beds to their portfolio and creating a product that meets the needs of the middle market.
Having a passion for the senior living space and adding value to the community are key factors for success.
Chapters
00:00 Introduction
01:59 What Brought Larry to the Senior Living Industry
05:34 Fragmentation of the Senior Living Market
07:09 The Acquisition Process for a Senior Living Community?
09:30 Including Digital Assets in an Acquisition Deal
13:26 Factors to Consider When Evaluating an Acquisition
14:22 Senior Housing Demand's Impact on Acquisitions
18:21 Life Expectancy's Impact on Affordable Housing
20:45 How Aging Inventory is Addressed Through Acquisitions
28:13 Operating Standards During Acquisitions
30:15 Staying Competitive and Affordable for New Residents
32:03 Competition in the Lower Middle Market
36:00 Branding and Re-Branding During Acquisitions
37:48 Future Outlook for America Senior Living
39:23 Advice to Others Looking to Make an Impact in Senior Living
Summary
In this conversation, Jerry Vinci interviews Angela DeWood, the deputy executive director at Carnegie East House in New York City. They discuss the unique living experiences and enriched housing provided by Carnegie East House. Angela shares her journey into the elder care field and how her international travels have influenced her approach to senior living. They also talk about the integration of the vibrant energy of New York City into the daily lives of the residents, the partnerships with cultural institutions, and the tailored programs and activities offered to cater to the needs and interests of seniors in an urban environment. Carnegie East House, a nonprofit assisted living community in Manhattan, faces unique challenges related to noise, safety, and accessibility. The increase in e-bike traffic in the city has created a free-for-all situation that needs regulation. The community is working on addressing these issues through advocacy and community events. The central location of Carnegie East House, near public transportation, makes it convenient for residents and their families to visit. As a nonprofit, Carnegie East House focuses on individualized care and affordability, offering a spend-down program for residents who may run out of money. The community aims to evolve its offerings to meet the changing needs of residents and improve amenities.
Connect with Angela
Learn more about Carnegie East House
Learn more about James Lennox House
Takeaways
Carnegie East House in New York City is redefining enriched housing for older adults by offering unique living experiences and more than just care.
Angela DeWood's journey into the elder care field was motivated by her connection to older adults and the wisdom they possess.
The location of Carnegie East House in the heart of New York City allows for easy access to cultural institutions and enhances the daily lives of the residents.
The community focuses on keeping residents independent and thriving, and tailors programs and activities to their individual interests and needs.
Partnerships with cultural institutions like the Alvin Ailey School for Dance and the 92nd Street Y provide residents with enriching experiences and opportunities.
The building design of Carnegie East House prioritizes accessibility and ease of movement for older adults. Carnegie East House faces challenges related to noise, safety, and accessibility in Manhattan, particularly due to the increase in e-bike traffic.
The community is actively working on addressing these issues through advocacy and community events.
The central location of Carnegie East House near public transportation makes it convenient for residents and their families to visit.
As a nonprofit, Carnegie East House focuses on individualized care and affordability, offering a spend-down program for residents who may run out of money.
The community aims to evolve its offerings to meet the changing needs of residents and improve amenities.
Chapters
00:00 Introduction and Background
01:52 Angela's Journey into Elder Care
04:59 The Influence of Travel on Senior Care
09:10 Integrating the Vibrant Energy of New York City
17:00 Transitional Opportunities for Potential Residents
22:03 Prioritizing Independence and Personalized Care
23:28 The Impact of Location and Design on Quality of Life
26:05 Regulating E-Bike Traffic for Resident Safety
28:37 Safety and Accessibility Challenges
32:03 Easy Access to Transportation
33:28 The History of Carnegia East House as a NonProfit
35:01 Providing Affordable Care
36:50 Unique Programs: Spend-Down and Garden-to-Table
39:19 Individualized Care Approach
44:10 Creating a Home-like Environment
45:54 Future Planning - Improving Amenities and Services
50:00 Future Plans and Rebuilding
Summary
In this episode, Jerry Vinci discusses the three most common objections senior living sales teams face: cost concerns, fear of losing independence, and denial of the need for senior living. He provides strategies for overcoming each objection, emphasizing the importance of empathy, transparency, and value demonstration. Vinci also addresses the objections related to unexpected costs and comparing options. In addition, he explores the objections related to loss of independence, including decision-making, privacy concerns, personal routines, and home modifications. Finally, Vinci tackles the objection of denial of need and offers a six-step strategy for addressing it.
Takeaways
The three most common objections faced by senior living sales teams are cost concerns, fear of losing independence, and denial of the need for senior living.
To overcome cost concerns, sales teams should empathize with financial concerns, clearly outline cost structures, and demonstrate the value of the services provided.
When addressing objections related to loss of independence, sales teams should highlight the variety of choices and flexibility available in senior living communities, share success stories, and offer trial stays or tours.
To address the objection of denial of need, sales teams should start with empathy, educate potential residents and their families about modern senior living, customize the conversation to address specific concerns, share success stories, offer trial stays or tours, and highlight choices and flexibility.
Transparency, empathy, and value demonstration are key in overcoming objections and building trust with prospective residents and their families.
Chapters
00:00 Identifying Common Sales Objections in Senior Living
01:39 Addressing Cost Concerns
02:13 Addressing Overall Affordability
04:26 Objections Due to Unexpected Costs
06:45 Objections over Value for Money
09:23 Objections over Financial Commitment
11:27 Objections when Comparing Options Or Lack Thereof
13:36 Loss of Independence Objection
14:00 Loss of Decision-Making
15:34 Objections Over Privacy Concerns
17:02 Objections over Established Personal Routines
18:25 Objections Due to Home Modifications
20:11 Objections Due to Denial of Need
24:22 6 Steps to Get Prospects to Say Yes
Summary
This episode explores the importance of brand identity in senior living communities. Brand identity goes beyond logos and taglines; it is the soul of the community that creates a sense of belonging for residents and their families. Core values play a crucial role in shaping the culture of the community and guiding decision-making. Storytelling is a powerful tool for showcasing the vibrancy and diversity of the community. Design and aesthetics create a welcoming space that resonates with residents. Community engagement fosters a sense of belonging and connection. Digital marketing is a dialogue that invites conversations and strengthens the community's brand identity.
Takeaways
Brand identity is the soul of a senior living community and creates a sense of belonging for residents and their families.
Core values shape the culture of the community and guide decision-making.
Storytelling is a powerful tool for showcasing the vibrancy and diversity of the community.
Design and aesthetics create a welcoming space that resonates with residents.
Community engagement fosters a sense of belonging and connection.
Digital marketing is a dialogue that invites conversations and strengthens the community's brand identity.
Chapters
00:00 Brand Identity: Creating a Unique Vibe
03:29 Core Values: Shaping Community Culture
11:45 Design and Aesthetics: Crafting a Welcoming Space
13:41 Community Engagement's Role in Brand Enhancement
15:16 Utilizing Your Brand in Marketing Initiatives
18:27 Connect with Us
Summary
In this conversation, Jerry Vinci interviews Thomas Sanders, a renowned photographer and filmmaker specializing in senior living photography. They discuss the power of storytelling through photography and filmmaking in the senior living industry. Sanders shares his attraction to the industry and how he started by photographing seniors in a living community. They also discuss the evolution of visual storytelling in senior living and the need for more authentic and diverse imagery. Sanders emphasizes the importance of showcasing physical activities and modern lifestyles to appeal to the baby boomer generation. He also shares some unique storytelling moments and projects he has worked on. In this conversation, Tom Sanders discusses the importance of authenticity in photography and filmmaking for senior living communities. He emphasizes the need to accurately represent the community and its residents, avoiding virtue signaling or misrepresentation. Sanders explains how his approach differs based on the type of senior living environment, such as independent living or memory care. He highlights the significance of natural light, showcasing residents near windows to create a more positive and vibrant atmosphere. Sanders also discusses the coordination and pre-production involved in photo shoots, including the importance of resident preparation and attention to detail.
Visit his website https://www.seniorlivingphotography.com/
Photo & Video Credits - All Photos and Videos Property of Tom Sanders Photography
Takeaways
Photography and filmmaking play a crucial role in marketing senior living communities, as authentic imagery can influence prospective residents' decision-making process.
The senior living industry needs to catch up in terms of visual storytelling, with more communities incorporating interesting short films and using less stock photos.
There is a need for more diverse and modern imagery in senior living marketing, showcasing physical activities and hip clothing to appeal to the baby boomer generation.
Unique storytelling moments and projects in senior living include photographing veterans, centenarians, and individuals with inspiring stories.
Authentic imagery that features real residents and represents ethnic diversity can create a sense of authenticity and inclusivity for prospective residents.
Authenticity is crucial in photography and filmmaking for senior living communities to accurately represent the community and its residents.
Photographing residents near windows and using natural light can create a more positive and vibrant atmosphere.
Coordination and pre-production are essential in planning photo shoots, including resident preparation and attention to detail.
Integrating modern technology into marketing efforts should be done while maintaining a personal touch.
Telling the personal stories of residents and creating short films can enhance senior living marketing and engage potential residents.
Slowing down and taking the time to capture high-quality, well-framed photos for social media is important.
Chapters
00:00 Introduction and Overview
02:34 The Attraction to Senior Living and Working with Veterans
06:55 The Evolution of Visual Storytelling in Senior Living
09:53 The Visual Storytelling Approach for Baby Boomers
14:18 Unique Storytelling Moments and Projects
21:12 The Influence of Authentic Imagery on Decision-Making
24:11 Approach to Capturing Different Senior Living Environments
27:23 The Significance of Storytelling in Senior Living Marketing
28:50 Preparation and Coordination for Photo Shoots
33:50 The Power of Authentic Imagery
34:48 Integrating Modern Technology without Losing the Personal Touch
38:30 Future Trends or Innovations in Senior Living Storytelling
41:33 Creating Authentic Images for Social Media
43:55 How to Connect with Tom Sanders Photography
Summary
The conversation explores the challenges and opportunities of embracing extended golden years and addressing long-term care in an age of increasing senior longevity. The two main themes discussed are financial hurdles and technological advancements. The economic hurdles include the need for savvy financial planning to ensure that retirement savings last as long as the extended lifespan. The technological advancements focus on the complexities and opportunities of seniors navigating the digital world, including the digital divide, adaptation and usability challenges, privacy and security risks, and healthcare technology gaps. The conversation emphasizes the importance of senior living communities adapting to meet the evolving needs of seniors and providing support in financial planning and tech savviness.
Takeaways
Advancements in healthcare and wellness are extending lifespans, leading to a remarkable era of extended golden years for the baby boomer generation.
Financial planning is crucial to ensure that retirement savings last as long as the extended lifespan, with housing, healthcare, and living expenses being major considerations.
Seniors face challenges in navigating the digital world, including the digital divide, adaptation and usability issues, privacy and security risks, and healthcare technology gaps.
Senior living communities need to adapt to meet the evolving needs of seniors, providing support in financial planning and tech savviness and creating environments where longevity is celebrated and residents can live better.
Personalization and tailoring services to individual preferences and needs will be critical in meeting the evolving needs of seniors in the future.
Chapters
00:00 Embracing Extended Golden Years: Challenges and Opportunities
03:03 Navigating Financial Hurdles in Extended Golden Years
11:48 The Complexities and Opportunities of Seniors in the Digital World
14:12 Data Privacy & Security Risks for Seniors
17:55 Wrap-up
19:20 Connect with Us
Summary
In this episode, Jerry Vinci discusses the importance of inbound marketing in the senior living industry. He highlights the limitations of traditional marketing methods like billboards and postcards and explains why inbound marketing is more effective. Jerry explains that inbound marketing focuses on genuine connection, tailored experiences, storytelling, and becoming a lighthouse in a sea of options. He then outlines the components of a comprehensive inbound marketing strategy, including content creation, website optimization, social media engagement, and email marketing. Jerry concludes by sharing the benefits of inbound marketing, such as higher ROI, increased lead generation, improved conversion rates, and higher customer retention.
Takeaways
Traditional marketing methods like billboards and postcards are no longer effective in the senior living industry.
Inbound marketing focuses on genuine connection, tailored experiences, and storytelling.
A comprehensive inbound marketing strategy includes content creation, website optimization, social media engagement, and email marketing.
Inbound marketing has higher ROI, increased lead generation, improved conversion rates, and higher customer retention.
Chapters
00:00 Introduction
00:50 The Limitations of Traditional Marketing Methods
03:53 Components of an Effective Inbound Marketing Strategy
14:42 The Impact of Inbound Marketing: Statistics and Results
19:09 - Connect with Us
Summary
In this conversation, Jerry Vinci interviews Paige Hoffman, a trailblazer in sustainability within the senior living sector. They discuss the importance of integrating sustainability practices in senior living communities and the role of technology in enhancing sustainability efforts. They also touch on the challenges and trends in the industry and provide advice for senior living providers looking to enhance their sustainability programs.
Takeaways
Integrating sustainability practices in senior living communities is crucial for creating vibrant and thriving environments for older adults.
Technology plays a significant role in enhancing sustainability efforts, from software implementation to innovative solutions like dining robots.
The senior living industry is facing challenges in meeting the growing demand for housing, and sustainability can play a role in repurposing existing infrastructure.
Leadership and a culture that embraces sustainability are essential for driving meaningful change in senior living communities.
Foundational steps for enhancing sustainability programs include setting clear goals, measuring progress, and engaging residents and employees in the process.
Emerging trends in sustainability include a focus on holistic decision-making, the reuse of buildings, and the integration of technology to meet the changing needs of older adults.
Personal commitment and passion drive Paige Hoffman's work in sustainability, and she sees her role evolving to continue pushing senior living forward.
Fostering a culture of sustainability requires a product mindset, progressive rollouts, and clear communication.
Technology, such as data management and energy benchmarking, plays a crucial role in enhancing sustainability efforts.
Innovative solutions, like dining robots, can improve efficiency and resident experience in senior living communities.
Paige envisions her role evolving into a strategic consulting position to help communities build sustainable frameworks and drive industry-wide impact.
Chapters:
00:00 Building a Culture of Sustainability
01:27 Paige Hoffman
06:58 Technology's Role
12:20 Sustainability in Operations
14:11 Sustainability in the Build Environment
18:54 Key Strategies to Embrace
29:47 Utilizing OKRs to Measure Results
35:18 The Future of Sustainability
43:00 Advice for Those Getting Started
46:30 Connect with Us
Summary
This episode explores the debate between aging at home and choosing a Continuing Care Retirement Community (CCRC). The financial implications of selling a home, particularly in states with high capital gains taxes, can make staying at home more appealing. However, CCRCs offer benefits such as safety, socialization, and support systems that can enhance quality of life. CCRCs provide a sense of community and connection, engagement and activity, support systems, independence within the community, intergenerational interaction, and a sense of belonging. To win over more seniors, CCRCs must craft a compelling narrative that emphasizes these advantages and addresses emotional and practical concerns.
Takeaways
The financial implications of selling a home, particularly in states with high capital gains taxes, can make aging at home more appealing for seniors.
CCRCs offer benefits such as safety, socialization, and support systems that can enhance quality of life.
CCRCs provide a sense of community and connection, engagement and activity, support systems, independence within the community, intergenerational interaction, and a sense of belonging.
To win over more seniors, CCRCs must craft a compelling narrative that emphasizes these advantages and addresses emotional and practical concerns.
Chapters
00:00 Introduction
00:25 Welcome
01:12 Financial Considerations
06:12 Emotional Narrative
08:04 Safety
09:40 Loneliness
13:04 Home Maintenance
14:07 Highlight Benefits
16:12 Marketing CCRCs
18:50 The Real Competition
21:03 Conclusion
22:14 Connect with Us
Summary
Customer Lifetime Value (CLV) is the total impact, both financial and communal, a resident has throughout their stay in a senior living community. CLV varies across different types of senior living communities, such as independent living, assisted living, memory care, and CCRCs. Independent living residents have a lower turnover rate and a longer average stay, resulting in a CLV range of $180K to $480K. Assisted living residents have a shorter length of stay but higher fees, with a CLV range of $84K to $252K. Memory care residents require specialized care, leading to a CLV range of $85K to $242K. CCRCs offer a full spectrum of care and have the highest CLV, averaging over $500K. CLV should be the guiding light for senior living providers as it focuses on building lasting relationships and delivering excellence. Strategies to increase CLV include personalizing the resident experience, using technology to enhance interactions, and gathering feedback to refine the community's offerings.
Takeaways
Customer Lifetime Value (CLV) is the total impact a resident has throughout their stay in a senior living community, both financially and communally.
CLV varies across different types of senior living communities, such as independent living, assisted living, memory care, and CCRCs.
Strategies to increase CLV include personalizing the resident experience, using technology to enhance interactions, and gathering feedback to refine the community's offerings.
CLV should be the guiding light for senior living providers, focusing on building lasting relationships and delivering excellence.
Sound Bites
"CLV is the total impact, both financial and communal, a resident has throughout their stay in your community."
"When your brand is being recommended to others by your own customers, you've done your job well."
"CLV in senior living communities can be influenced by factors like service level, resident engagement, and pricing strategies."
Chapters
00:00 Introduction
01:12 Understanding CLV in Senior Living
12:51 Why CLV Should Be Your Guiding Light
17:08 How Do You Strategize for Higher CLV?
22:35 Conclusion
Summary
In this conversation, Keely Raff and Jerry Vinci discuss the power of niche marketing in the senior living industry. They explore the shift from a health-centric to a life-centric approach and the importance of understanding the whole person and their lifestyle. Keely shares examples of successful niche marketing strategies, such as targeting specific professions or interests, partnering with local organizations, and offering tailored amenities and services. They also emphasize the need for data analysis and measurement to determine the effectiveness of niche marketing efforts. In this conversation, Keely and Jerry discuss the importance of niche marketing in senior living. They emphasize the need for communities to understand their target audience and create personalized messaging that resonates with them. They also highlight the power of direct marketing and the role of authenticity in building relationships with potential residents. Keely shares examples of successful niche marketing strategies, such as partnering with travel agents and leveraging digital media. They also discuss the challenges of niche marketing and the importance of measuring results and adapting strategies as needed.
Takeaways
Niche marketing in the senior living industry involves targeting specific markets and understanding the whole person and their lifestyle.
Successful niche marketing strategies include partnering with local organizations, targeting specific professions or interests, and offering tailored amenities and services.
Data analysis is crucial for identifying opportunities, measuring the effectiveness of niche marketing efforts, and making informed decisions.
The industry is shifting from a health-centric to a life-centric approach, focusing on the individual's preferences, interests, and socialization.
LinkedIn can be a valuable tool for connecting with potential referral sources and building relationships in the senior living industry. Niche marketing is crucial in senior living to create personalized messaging that resonates with specific target audiences.
Direct marketing and authenticity are key in building relationships with potential residents.
Successful niche marketing strategies include partnering with travel agents and leveraging digital media.
Challenges in niche marketing include the need for internal buy-in and the ability to measure results.
Communities should continuously evaluate and adapt their niche marketing strategies to stay relevant and effective.
Chapters
00:00 Introduction and Overview
02:26 Shifting from Health-Centric to Life-Centric
10:10 Successful Examples of Niche Marketing in Senior Living
23:36 Niche Marketing - Changing the Narrative Around Senior Living
25:16 The Power of Niche Marketing
33:04 If You Don't Have a USP You Need to Create It
34:24 Utilizing Resident Focus Groups to Enhance a Community's USP
49:45 Enhancing Senior Living Marketing Strategies with Keely Raff
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