Recently I came across the following blog article: Case Study: How Home Depot Nailed the Competition. The critical point of the article is that in high choice industries[i] there is a direct correlation between the quality of customer service and stock prices.  The article it included this graph: Customer-Satisfaction-Stock-Prices-01-01-1024x586 The article got me to thinking that even while most senior living communities are not part of a publicly traded company, there is a relationship between the value of senior living communities and higher levels of consumer satisfaction.

Blah Blah Blah . . .

If we are honest, a senior housing community, is a senior housing community, is a senior housing community. Sure some are a little nicer (or a little less nice than others) but they all more or less look the same, feel the same, provide the same services and amenities. Their websites (your websites) are all the same. The same language:

  • “We care”
  • “We Serve”
  • “Restaurant Style Dining”
  • “Convenient Location”
  • “Choice”
  • “Comfortable”
  • “Peace of Mind”
  • “Friendly”
  • “Health and Wellness Programs”
  • “We take care of everything”

Those came from about 6 different senior living sites. If I listed them you could not really particularly attach any of those descriptions to any of those communities as differentiators because every single term could apply to every single community.

There is Some Good Here

This is, in a very real way, a sign that, collectively, senior living communities are doing a great job of caring for residents and families. In truth, if my mom or dad were to move into anyone of these six communities that those terms came from they would have a good to great experience. Even better, at this point there are enough, or close to enough, residents to keep these communities full.

The Big Differences

I have written about my senior living tours that have been, some middle of the road experiences and some not so good experiences.  Some of the not so good experiences have been in some really nice looking buildings, and all of the really good experiences have been in buildings that were nice but not out of this world spectacular. The clear lesson is that it is not the physical plant that makes the difference. Perhaps most important of all is that in each case where I had a great experience, the communities were full or nearly full. The first big difference has been a willingness and an eagerness to engage with me as a fresh face and to engage with residents and family members. The second is that these high engagement communities have stories to tell about residents and family members and team members where being a part of that community has made their lives radically different. Radically better.

Part Two: Why this is great news!

Steve Moran

If you like this article (or even if you don’t) it would be a great honor to have you subscribe to our mailing list HERE [i]There is little or negative correlation in low choice industries, like cable TV, Internet service providers and airlines.