Featured Stories

Statistics

Small-group Presentations: A Valuable Step in the Sales Process

Changing the Function of SB&A’s Office Space

Fundraising 101 for Senior Living Communities

Thinking Partner Selling™ Tip

Campaign Snapshots

Statistics

35 Percentage of centenarians in a survey conducted by UnitedHealthcare who felt that lifestyle is the key to reaching 100. The lifestyle choices they believed were most associated with their longevity were getting enough rest (88%), eating healthy (87%), limiting alcohol (83%), and not smoking (78%). [www.usatoday.com. Statistics based on a UnitedHealthcare survey. Story write-up by Michelle Healy and Alejandro Gonzalez of USA Today.]

54 Percentage of people in a Tom’s of Maine survey who said spending an hour a week volunteering is more rewarding than getting a 5% raise. Another interesting statistic that the study revealed is 51% of Americans with plans to volunteer this year are more likely to do so if accompanied by a loved one. [www.usatoday.com. Statistics based on a Tom’s of Maine survey. Story write-up by Michelle Healy and Veronica Bravo of USA Today.]

4.2 Percentage that Chinese retailers’ revenues are often inflated each year due to manipulation of numbers to include lucky figures. In China, where superstitions about numbers are common, retailers make sure that the first two non-zero digits in product prices include lucky numbers, such as 8, and don’t include unlucky numbers, such as 4. [Harvard Business Review, Zili Yang (SUNY Binghamton) “Lucky Prices = Higher Prices.” January-February 2012 Issue, page 30.]

79 Percentage of customers who bought an MP3 player after they interacted with a retail salesperson who subtly mirrored their speech and behavior. Only 62% of customers who did not interact with a mimic bought the same MP3 player, suggesting that retail salespeople who subtly mimic are more likely to make a sale. [Harvard Business Review, January-February 2012 Issue, page 28. Based on Research by Céline Jacob, Université de Bretagne-Sud.]

10 Percentage of supermarket purchases in the US that are fruits and vegetables. [Harvard Business Review, Ellen Gustafson. “Grow More Apples and Less Corn.” January-February 2012 Issue, page 54.]

95 Percent of soldiers who were treated for heroin addiction in Vietnam and did not become re-addicted to the substance when they returned to the United States (a shocking figure as US heroin addicts treated in the United States see a dismal 90% relapse rate once they return home). This research, initiated by Nixon and completed by Lee Robins, points to environment as a key role in behavior and suggests that a change of environment can help individuals to change suspect behaviors. [http://www.npr.org/blogs/health/2012/01/02/144431794/what-vietnam-taught-us-about-breaking-bad-habits]

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Small-group Presentations: A Valuable Step in the Sales Process

In recent years, senior living communities have become increasingly creative in their event content and programming. Events have become even more important, simply because it takes more touch points than ever to make a sale. Communities nationwide have successfully implemented lecture series designed to demystify the real estate market as well as programs to explain financial options or strategies to stay healthy. And of course, there are the consistently attractive cultural events and social soirees.

The question is: how do sales teams turn event attendance into sales?

In many communities, it has become more challenging to close one-on-one appointments. Part of this is economic and part of it, we believe, is generational. More prospects are engaging in introverted buying behavior, preferring the Internet or Facebook to engaging with a sales person or visiting an information center.

Utilizing small-group presentations as an interim step to move prospects forward in the sales pipeline can be increasingly useful in the sales process. A prospect may feel comfortable at a larger event, but may be hesitant to subsequently come in for a one-on-one meeting or tour. The more focused appointment may seem overwhelming and/or pressure-filled. Small-group events or discussions with a group of 8-10 people can be less daunting.

Some examples of small-group functions are dinners or brunches where people can easily talk and hear one another. A sales counselor generally designs these events to bring together like-minded prospects, maybe including a couple of carefully chosen depositors or residents in the mix. The group size is small enough for prospects to feel comfortable asking questions, and to offer expanded information, but the “safety in numbers” reduces the worry about feeling pressured. This “match-making” strategy has been particularly successful at Montgomery Place, in Chicago’s Hyde Park.

Of course, the next step is to translate the small-group experience into a true one-on-one, where the counselor can talk about the details and explain specific community benefits to match the individual needs and desires of the prospective resident.

Another key to improving closing ratios from both large- and small-group events to appointments is presenting cogent reasons why an appointment is a smart idea.

A new program designed to “sell the appointment” is being rolled out at The Arlington in Naples, Florida. The Arlington is a new community being developed by Lutheran Life Communities based out of Arlington Heights, Illinois.

The new campaign encourages all prospects to know their options and to understand the benefits of becoming a Founder at The Arlington through the iTK program. iTk stands for “In the Know” and plays on the Naples market’s desire to be chic and ahead of the crowd. iTK has been rolled out through buttons, Founders’ cards, advertising and direct mail. There are also a series of iTK events to offer education about senior living in general and The Arlington in particular.

iTK events can involve education about a particular topic for leads, taking the informational presentation out to specific neighborhoods, or holding informal small-group educational sessions for 6-10 prospects in the Information Center.

The campaign ties in with the desires of the market, as expressed in focus groups, to know more about the options and to plan for the future.

The iTK campaign has Founders of The Arlington proudly boasting to friends that they are “iTK” – music to our ears.

We all know that prospects take different paths in the sales process. What’s important is offering them options and a sense of being in control. As is always the case, some people prefer to go right to the one-on-one appointment, and of course that is our ultimate goal. For those who seem hesitant to take that step, though, the small-group option is a great interim step to build credibility and to increase product knowledge – ultimately increasing the likelihood of making a sale.

**To see the iTK campaign, >> Click here

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There has been a lot of press about office spaces and some unique changes organizations are making to their environments to promote collaboration, creativity and the client experience. In early 2011, SB&A researched these trends by delving into several articles about office space functionality and by touring the Martin Agency and the VCU Brand Center, two Richmond neighbors known for their innovative – and very hip – spaces and multifunctional areas.

SB&A’s first office space improvement involved creating a first-floor lounge (pictured above) to use for client visits, collaborative meetings and interviews, etc. On the second floor, we cleared space for small group meetings, creative collaboration and illustration space. The last order of business was art.

An advertising agency loves artwork and SB&A is no exception. The Executive Team did some research on several up-and-coming artists and took suggestions from the staff about potential pieces. Account Manager Sarah Scott Thomas suggested the work of Laura Loe, renowned painter and Sarah Scott’s long-time friend. The work is a fit and SB&A’s collaborative areas have gotten brighter with several of Loe’s paintings (one of which is pictured below).

Another artist we noticed in a gallery was Rebecca Kuzemchak, who works in glue-based faux-encaustic mixed media, among other genres (see pieces below). We got together with Kuzemchak to view her pieces and pick a few for the office. We also engaged her to do a workshop for SB&A, where the staff created pieces of work alongside Rebecca to fill the company’s walls. Everyone enjoyed the opportunity to be creative with a different medium and to learn about Kuzemchak’s working methods.

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The level of engagement in fund development varies widely among CCRCs. We work with communities whose Boards have rejected the idea of any fundraising in the past as well as organizations that have large endowments. There are some excellent reasons to put the issue of fundraising back on the table in your community – to review your position and to evaluate your opportunities.

Today, seniors are living longer than ever before and doing so in the midst of a challenging economic climate.

The recent downturn, which began in 2007, negatively impacted residents’ portfolios. With interest rates on FDIC-protected investments at an all-time low, more seniors have significant investment in equities, and thus are vulnerable to market fluctuations and volatility. In communities with which we work, a number of residents have expressed concerns about being able to continue living in a CCRC. Increasing monthly fees fuels this concern each year.

More than ever before it is important for CCRCs to develop endowments and to raise funds to ensure the continued support of residents who face financial reversals beyond their control.

CCRCs also recognize the need to plan for routine maintenance and the necessary capital improvements required to stay competitive in the marketplace. The capital markets today are more risk-averse, and may require a stronger financial position and greater equity contributions by owners. Both endowment funds and capital campaigns can be key to continued growth and development in today’s economy.

SB&A is a part of 3B Fund Development Group, a consortium of professionals dedicated to helping CCRCs raise funds. The members – Jean Bacon, Sharon Brooks and Jeffrey Byrne – first met through Bishop Spencer Place’s capital campaign, in which SB&A worked on the marketing materials, Jean Bacon was the CEO at the community at the time and Jeffrey Byrne was the fundraising consultant in charge of development efforts. The campaign was extremely successful and raised $6,000,000 to fund a $40,000,000 expansion.

Recognizing the need for a team that could provide extensive experience in all facets of fund development for senior living, including structuring and managing development efforts, integrating efforts into organizational structure, and developing messaging and materials to ensure the success of fundraising efforts, the 3Bs (Bacon, Brooks and Byrne) created 3B Fund Development Group.

SB&A’s role is to translate the case statements for fund development into materials that resonate with potential donors. Recently we have created campaigns to promote philanthropic efforts in two client communities:

The Village at Woods Edge >> View the brochure (PDF)

Montgomery Place >> View the brochure (PDF)

3B has also been busy working on several projects nationwide. The team is putting the structure in place for a capital campaign at Butterfield Trail Village in Fayetteville, AR, has finished a strategic planning project for The Catholic Care Center in Bel Aire, KS and just wrapped up a successful campaign at United Methodist Village in Godfrey, IL.)

Presented below is a link to 3B partner Jean Bacon’s most recent article on fund development in senior living communities:

http://campaign.r20.constantcontact.com/render?llr=5fisqkiab&v=001v2ezZPmZ_iuCKMtq-HZwrin7YSPwyq0-OuaOj_xz-JLrHM6ENUWKDXQ_s0cuNkDVdFvHX_DIbPhYEYJTlHcL8QS-d033vPkn0Mb08KdNmuE%3D#LETTER.BLOCK10

Please contact us if you are interested in learning more about our fundraising programs and services.

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A change of environment can dramatically impact results (see the Statistics sections above, last figure). When you meet with someone about a contract or finances, why not do it in an entirely different environment from the one where you held your presentation? Better yet, why not make sure that the environment is full of light and has a view of one of the key selling points or best amenities in your community? This change in environment can equal a change in perspective. Where’s the best place to “close the sale” in your community?

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