When senior residing prospects had questions on their monetary journey, Constitution Senior Residing gave them the very best map potential.
The Naperville, Illinois-based senior residing operator understood what many operators are nonetheless studying: the ability of connecting prospects with a monetary specialist. These professionals assist prospects perceive all the things about their monetary state of affairs, the monetary strategy of transferring into senior residing and what monetary providers can be found to assist.
An extension of the gross sales workforce, monetary specialists are subject-matter specialists on senior residing and senior residing monetary assets. Gross sales groups make use of them to contextualize senior residing’s price, arming prospects with info and monetary understanding of the worth of senior residing.
“The Senior Residing Monetary Specialist Program has given Constitution one other method to ship on enhancing the human spirit,” says Constitution President and COO Jayne Sallerson. “By incorporating this program into our gross sales course of, we’re not simply offering housing — we’re providing peace of thoughts. It helps households navigate the monetary elements of senior residing, aligning with our mission to help each the emotional and monetary well-being of our residents.”
In spite of everything, simply because a prospect does their very own analysis doesn’t imply they’re discovering what they want. The Senior Residing Monetary Specialist program (SLFS) gives help in two elements:
- Supporting the gross sales processes of senior residing communities
- Supporting seniors and their family members by way of the senior residing monetary transition journey
The SLFS program provides seniors and their households a hub of 25+ monetary providers multi function. And it provides executives a software to present their gross sales groups insights into the altering consumers — the insights they as executives have already got.
“It’s necessary that you just deliver somebody in who’s the knowledgeable of all specialists on afford and helps you join with these assets,” says Sherrie Bebell, President, Senior Residing Monetary Specialist. “With our deep trade expertise and full understanding of the psychographic nature of prospects and households, we’re not simply bridging the hole — we’re constructing a seamless connection between company technique and on-site gross sales mojo.”
How Operators Working with a Monetary Specialist Boosted Transfer-ins
In 2021, Constitution piloted the SLFS program at seven of its communities. The advantages got here so rapidly, and had a lot affect, that at this time, Constitution makes use of this system in all 63 of their communities. Sallerson and the workforce at Constitution have seen what all operators are seeing once they use the SLFS program:
- occupancy beneficial properties
- financially assured seniors
- general success in gross sales
“In reviewing latest information, we will attribute 19% of complete gross sales in a neighborhood and a median enhance in occupancy of three% quarter over quarter,” Bebell says. “To indicate that your occupancy is constantly growing quarter over quarter over years, that’s enormous.”
The SLFS workforce works to repeatedly improve its program by including new assets primarily based on ongoing work with households. They’ve not too long ago built-in a well being care insurance coverage advisor to help seniors in transitioning their well being protection after transferring right into a neighborhood. They’ve additionally partnered with nationwide enterprises to assist with asset gross sales, similar to automobiles and different autos.
“With our finger on the heart beat of households’ monetary issues and alternatives, we’re uniquely positioned to supply a real one-stop-shop expertise with a single level of contact for all their wants,” Bebell says.
By connecting prospects and households with a monetary specialist, communities are in a position to break down obstacles and keep away from miscommunications to show leads into conversions. One other case examine at a neighborhood enrolled in this system discovered that monetary specialists had been in a position to assist lower previously-lost financial-related leads by 30%, whereas growing occupancy incrementally over the course of 31 months.
Among the many most enjoyable outcomes that operators are seeing:
- This system accounted for a median of 19% of complete move-ins in high-referring communities
- Greater than 50% of the communities enrolled in this system elevated occupancy
- Monetary specialists had been in a position to lower previously-lost financial-related leads by 30%
“You wish to actually present these households that you just care sufficient to have an knowledgeable right here to present them that schooling, and maintain their palms by way of the complete course of, end-to-end,” Bebell says.
The rationale? That’s easy.
“Schooling,” she says, “is energy.”
This text is sponsored by Senior Residing Monetary Specialist and is an excerpt from a brand new white paper between SLFS and Senior Housing Information. To obtain the white paper, with extra information displaying the success of this system, click on right here.
