It’s a nice story, but when it comes to the senior living industry, according to Melinda Schmitz, Executive Vice President & Senior Consultant at SageAge Strategies, the days of “build it and they will come” are long gone. In today’s market, expecting that new residents will come to you just because you’re there is simply not an effective business strategy.
“The demand for senior living is very high, since about 10,000 Baby Boomers reach retirement age every day,” says Melinda. “But while demand is high, competition is fiercer than ever as more and more individuals and corporations are getting into the senior living industry.” That means all communities – from the very new to the very established and everything in between – need to take a hard look at their business strategies in order to ensure the highest level of profitability.
“Boomers are demanding a lifestyle from senior living, not just a building, so the landscape and the way you talk about your community has changed significantly over the past few decades,” says Melinda. “In order to successfully achieve and maintain ideal occupancy in this new age, operational and clinical consulting should definitely be a part of your toolbox. And partnering with an expert like SageAge Strategies can help ensure that your senior living communities have the right products, unit mix and programmatic aspects to meet the needs of your target audience.”
According to Melinda, a number of developers and investors are getting into or have already entered the senior living space without prior knowledge of the industry. While this is exciting because it brings new, different ideas into play, it can also mean potential speed bumps for individuals and companies who don’t have the foundational knowledge needed to succeed.
“Generally, people don’t know what they don’t know, but they do know that they need help, and that’s where SageAge’s consulting services bring value,” she says. “We offer a myriad of services – ranging from sales training and management, planning and budgeting, operations and compliance and fund development – all designed to help our clients achieve and maintain ideal occupancy in their senior living communities.”
What makes SageAge unique, says Melinda, is our first-hand knowledge of the industry. “Everyone on our consulting team has worked at some point on the provider side of senior living, so we know and understand it from the inside-out. This allows us to provide a one-of-a-kind third-party perspective and a holistic approach that will help you ensure your community’s success.”
Here’s a quick look at the Consulting Services SageAge provides:
Planning & Budgeting
We provide a comprehensive approach to strategic and budgetary planning by assessing your community’s customer, operational, financial, clinical and technological needs, and identifying viable strategies and related priorities to achieve them. Because we believe that only true partnerships yield sustainable success, our dynamic process involves the key constituents of your community. These include your board, leadership team, staff members, residents, their families, referral sources and other key influencers.
Sales Training & Management
The SageAge Strategies CARE Program will fully equip your sales team with the tools and training required to be the most effective. We use a detailed, evidence-based training template to ensure that your sales team is exceptionally prepared to represent your senior living community effectively to prospective customers. Our in-house experts will work with you to create comprehensive sales and marketing plans that are customized to meet the unique challenges and opportunities that are specific to your community and your marketplace. Our customized programs help our clients create a highly effective, focused sales team that can more adequately manage leads, gain appointments and close sales. We also identify any operational challenges that are a barrier to sales.
Operations & Compliance
The SageAge Strategies team provides a unique level of expertise and insight in the discipline of performance improvement derived from years of senior living experience and functional expertise in key areas. These areas include CCRC administration, operations management, census building, sales and marketing strategy, resident satisfaction, customer service and sales training, productivity and efficiency management. We also help our client-partners move from good to GREAT. We specialize in partnering with senior living organizations to help them succeed in regulatory compliance and operational excellence.
Successful fundraising in the senior living industry requires the effective marketing of an institution’s mission and services, educating its residents and their families, as well as motivating leadership to compete for a donor’s financial support. We help you create fundraising plans that are fully aligned with the mission and overall strategic effort of your organization. While fundraising may start with asking donors for money; we believe it also involves networking, relationship building, researching new funding prospects and emerging philanthropic trends, and ensuring your values and mission are being communicated effectively.
Alongside our custom sales training and other consulting services, SageAge Strategies provides lead generation lead nurturing with digital and traditional media through our internal marketing agency. We use industry best practices and award-winning creative to ensure your message is getting in front of your target audience.
“As the senior living space continues to expand and evolve, there will be an increased demand for ensuring successful projects through the right balance of offerings, pricing and amenities to meet the needs of seniors,” says Melinda. “SageAge’s consulting services can provide the third-party expertise you need to ensure your project is poised to grow and serve the next set of seniors – both today’s and tomorrow’s.”
If you need assistance in any areas of senior living development and integrated growth strategy to improve your business results, we invite you to contact us today to learn more about our proven strategies that have transformed other senior living communities like yours.
SageAge Strategies is a multiple-award-winning, strategic growth, marketing and consulting organization that operates exclusively in the unique senior living marketplace. For more information, please call or email Jason McCloud at 614.795.7373 / firstname.lastname@example.org. You can also visit us on our website at https://www.sageage.com/.
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