Key Takeaway From Senior Living 100: Shifting from Needs-Based to Wants-Based

The educational sessions during Senior Living 100 included a variety of unique topics, but one specific session will be crucial for senior living marketing teams to embrace in 2020. And, one key takeaway will be especially pertinent for providers this year. Continue reading to learn our key takeaway from “Targeting 70: The Active Pursuit of Active Adults.”

Key Session Takeaway: Is Resident Acquisition Focused on “Needs” or “Wants”?

Consider this: Over 40% of baby boomers are 65+ years old and represent 25% of the U.S. population. And, they control 70% of the financial assets. If your community isn’t marketing to baby boomers now, it’s missing a prime opportunity to impact occupancy. To effectively engage with this age cohort, your senior living marketing team will need to shift from a “needs-based” move-in model to “wants-based”.

A needs-based resident represents individuals who are 80+ years old, whereas a wants-based resident is more independent and younger at 70+ years old. So, how are some of the leading senior living communities successfully marketing to baby boomers who represent this younger resident profile?

70-year-olds still lead active lives. Everything from marketing collateral to renovations should reflect the desires of these individuals. To help communities entice these prospective residents, ensure your senior living marketing team spotlights the following amenities (if applicable):

  • Fitness centers, yoga studios, fitness classes, personal trainers
  • Art, culture and education
  • Food, wine and culinary experiences

The underlying themes that connect these amenities are freedom of choice and wellness. Since wellness can be perceived numerous ways and doesn’t adhere to a strict definition, the communities seeing success in marketing to baby boomers are giving these residents a multitude of options to ensure they live their best life while the community supports their active aging.

Contact Us for Additional Takeaways From Senior Living 100 Conference

Whether your community is actively marketing to baby boomers today or caters to an older population, their impact on the industry is undeniable. In fact, baby boomers are changing senior living in four distinct ways:

  • Leading the charge on ‘Aging in Place’
  • Multiple options, events and activities
  • A focus on technology
  • Convenience and access to health care, shopping, dining and more

In order for senior living communities to stay competitive and surpass stringent occupancy goals, they must adapt to the evolving preferences of residents. While our leadership team gained countless insights during Senior Living 100, we’ll be happy to share what we’ve learned with your team. Contact us and we’ll walk you through additional insights. We can help your senior living marketing team craft a customized strategy to overcome its specific challenges.

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