Senior Living Trends 2011

TRENDS IN SENIOR LIVINGAND THEIR IMPACT ON MARKETING May 18, 2011

Today’s PresenterKen CurnesVice President,Director of Planning andDevelopmentkcurnes@glynndevins.com

A Few DisclaimersSkewed toward independent living/CCRCsWe are marketers not operatorsThis is our perspective – nothing scientific

What Is Not Changing Why individuals choose a senior living community Communities are local, very local Average age at move-in is 80+ Most don’t choose this option – only about 10% in CCRCs

What Is Not Changing Still mostly not-for-profit – about 80% of senior living The best communities and organizations have a passion for service Resident satisfaction is key to success

What’s Driving TrendsGrowing knowledge of aging processA desire for a younger senior residentModern consumerismBoomers – but not the way you think

Trends

Wellness  Fully embraced concept  Growing number of formal programs  Still only a few Wellness Directors  Communities ahead of residents in acceptance  Best executed when it is championed by leadership

Wellness  Integration of life-long learning and partnership with schools  Designing spaces to support  Fitness center  Aerobics room  Classrooms

Poll Question

Marketing Implications Can be used as differentiator if well defined/successful Power is in the results of wellness not the program itself Integrate wellness into marketing But, wellness programs are not being sought by prospects

Hospitality Driven by desire for choice Spoken of more than practiced Becoming formalized as culture in some places  Concierge position  Carry-out/room service  Resident directed space Greatest impact is in new community design

Marketing Implications Hospitality is an internal concept – choice is the consumer benefit Competing with newer communities often makes this an issue When you can’t update – innovate Culture is more important than space – short term

Aging in Place  The default for consumers  Government support of this trend  Many companies focused on making this happen  Technology as a major facilitator  Present within CCRCs

Marketing Implications Consumer mindset is nothing new Available options are changing the discussion Home based services lack COMMUNITY benefits Competition from within - CCRC based home health Delay in move through continuum can add degree of frailty to independent living

Integration of Technology Annual Consumer Electronics Show Smart everything Fueled by desire to age in place Adoption has been limited – senior resistance to “monitoring.” Big names  Hewlett Packard  Intel  GE

Marketing Implications “Smart” technology is the buzz not the reality Is your community embracing consumer technology  WiFi  Point of sale  Intranet  Flat Screen TVs Speaks to the influencer and the senior prospect It’s not for everyone

Poll Question

Trends in Design Open Design Multiple dining venues Enhanced fitness Informal gathering spaces Larger residences Greater integration of continuum Green?

Design for Aging Review - AIA  Connecting with nature  Connecting with neighborhood  Intergenerational  Family/visitor support spaces  Staff support spaces  Collaboration during design  Slight skew to contemporary design

Poll Question

Marketing Implications New sells – update, renovate, freshen What is the long-term community plan Many older COMMUNITIES are full and vibrant Don’t get hung up on space – focus on lifestyle

Person-Centered Care Fully embraced Driving “neighborhood or cottage” design Level of implementation varies Evolving to person-directed care

Marketing Implications Person-centered has already become generic as a term Strive to personalize and define for your community’s practices Focus on benefits not process Speak to residents and families differently

Customization Evolution from “here’s what we have” to “what do you want?” Occurring in all areas  Residences  Dining  Services/programs  Contracts Not just new construction

Marketing Implications This requires commitment from the entire community staff Leadership sets the tone What may be small to you may be huge for a prospect Not customizing can put marketing in an awkward position

Worth Noting Higher age at move-in Recent influence of adult children Social media Regulatory environment Need for specialized dementia care

Questions

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Senior Living Trends 2011

by GlynnDevins Advertising & Marketing

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