The Missing Piece – Your Value Proposition
What’s Missing At Your Senior Living Community?
One of the most common questions we see from consumers at AgingChoices is, why is senior living so expensive?
The answer might be obvious to you, which is care and housing are expensive, but consumers don’t know this. The value someone might get from senior living just isn’t clear enough, both industry-wide as well as at the community level.
Senior Living is a people-first business, and it requires loving and caring human beings to take care of others for long hours. The cost of care is expensive, plus labor costs across the board continue to increase.
Let’s Get Started
Let’s dive deeper and see if we can flip this question on its head.
There will always be the 40-50% of the consumers that visit your community websites that simply can’t afford senior living.
Then you have 20-30% more that can afford senior living but think it is just too expensive.
What they aren’t seeing is the value of your community. Simply put, what their money is buying them.
For the remaining 20-40%, you are competing for head to head with your competitors, including homecare and the decision to just stay in their home. You are also competing for space in search engines with all kinds of referral sources.
The Solution
The 20-30% that can afford senior living but just think it’s too expensive need more information from you.
Does your community or company have a value statement? If not, it’s time to start, so you can flush this out.
A value statement is a “concise statement of the benefits that a company is delivering to customers who buy its products or services.”
It’s time that you revisit yours or create a new one. Why should a prospect buy from you instead of your competitor? What do you do better than anyone else?
It should be around 10 words or so.
Once you have your value statement, everything from your marketing materials to your sales training to your tours sales pitch should be aligned with this message. It should be very clear with every interaction you have with a prospect, what your community stands for, what their money will get them, and most importantly, why they should buy from you instead of a competitor.
If their values align with your community values, the conversation will be much easier as well, and you will now have access to a much larger funnel than you did before.
Even more importantly, if you take this a step further, your value and your value statement also apply to your hiring and your employees.
Prospective employees are subconsciously looking for your value statement. They want to know that their values align with your community and that it is the right place for them. You need people that have similar values to your community values. Why should they work for your community or company rather than a competitor?
These valuable people will be around your residents the most. They will be at the frontlines of your success and failures as an organization.
Next Steps
What is your value proposition?
Need help crafting one? Complete our short survey, and we will help you get started.
