It’s so easy for members of a sales team to focus on making the next sale, that when a reservation deposit is made, there is a deep breath, then the move on to the next hot lead or prospect. When that happens, often that new depositor, who has just made a major commitment, is forgotten. It’s hard sometimes to think about focusing on a depositor when you know you have to make that next sale. But paying more attention to your depositors can go a long way toward retention.

Often there are many months between when a person puts down a deposit to when a community opens. Many feelings can emerge that may cause the individual or couple to regret making such a big decision. That’s why it’s important to make your depositors feel like a part of the community right away. Not only does this help build more solid relationships in the long run, but it also prepares you to handle any objections they might have in the future.

Staying in touch with depositors allows you to answer any questions or concerns they may have. It’s the time to get them excited and prepared to move when the time comes for your community to open. It may take a little bit of your marketing budget, but wouldn’t you rather have that solid relationship than be blindsided if a group of people change their minds right before your opening?

Instead of that negative alternative, help create bonds among your depositors. A series of events just for depositors provides a personal connection to the community, opportunities to get to know and socialize with future neighbors, and a way to showcase the engaging lifestyle that will be offered at your community. Online communities are also a good tool for this, as they allow for quick communication among both staff and future residents. You can also host parties for depositors so they become friends with their future neighbors. And, go out of your way to answer questions and provide tools for their upcoming move. All these tactics are about staying in touch, which is the most important thing.

So while it’s important to focus on the next sale, don’t forget about the one you just made. It’ll pay off in the long run.

We’ve received a lot of questions lately from clients wondering if waitlists are a thing of the past. With so much indecision on the part of prospects – understandably – many communities are finding even those on their waitlists to be unresponsive. Calling up and down the list often produces nothing.

Well, I’m here to say that waitlists are not a thing of the past. You merely have to re-examine how you position them. Be realistic. In today’s tough economy, plenty of leads are going to ignore your calls because they think this is a bad time to make such a big decision. But there are still many who wish to remain in contact. For those who do hesitate, find new ways to remind them of the benefits of being a member.

We’ve also worked with some of our communities who are proactively attacking their waitlist problem. Instead of just giving up on members who don’t show much interest, these communities are getting aggressive. They’re either canceling waitlist members who do not respond to open residences or closing the program altogether if they have residences readily available for move-ins. This forces waitlist members to make a choice between moving in or leaving the program. But keep in mind, this could result in a refund of their waitlist deposit.

Another way to engage your waitlist members is to communicate why they’re a part of your program in the first place. Sending letters or event invitations to waitlist members not only reminds them of the value of keeping their name on the list, it’s another chance to revisit why your community is a good option in these tough times. We have one example of a client who got great response from an incentive letter and had several members decide to move in.

This is best-case scenario. But it’s not inconceivable to turn a once-interested lead into someone ready to make the decision about moving to your community. Financial security and guaranteed health care are always good selling points in any market – but they’re especially valuable today. So don’t ignore your waitlists. Get proactive — and you could see a nice reward!

We are nearly halfway through May, and we haven’t blogged about this being Older Americans Month. Maybe not surprising when it must compete with National Barbeque Month – come on, we live in Kansas City. Or perhaps we have just become jaded when we hear January is Return Shopping Carts to the Supermarket Month, July is National Cell Phone Courtesy Month or October is National Popcorn Poppin’ Month. And while I am all for amnesty for shopping cart thieves, less chatter and popcorn with extra butter, yes please, Older Americans Month stands out for those of us who have the privilege of working with senior living providers.

You can’t meet the residents of our clients’ communities and not feel touched. In fact, Randy Eilts blogged about this a few weeks ago when he shared his experiences at a recent community grand opening. Senior living communities make a difference. They enrich lives, extend lives, give dignity and hope, build relationships, provide for intergenerational connections and much, much more. We often blog about the business of senior living. But today, in recognition of Older Americans Month, it’s appropriate to say thank you to all those who have made this their calling and mission. You meet so many dedicated and giving people in this business that it’s no surprise “I should have done this a long time ago” is the sentiment we most often hear from residents.

We’ve been using a phrase around GlynnDevins for the last nine months or so – the New Reality. When the real estate slide began in late 2007 and our senior prospects began to use the lost value in their home as a reason not to move forward, we figured that those who truly desired the product would eventually say to themselves, “Well, I guess lower home values is the new reality and we really want to make this lifestyle change, so let’s not wait any longer.” Unfortunately, the New Reality never showed up.

Throughout 2008 and into 2009, the surprises just kept piling up. A continued slide in home values, the banking crisis, the stock market melt-down, drastic cut-backs in consumer spending and layoffs had all of us wondering what’s next. So the New Reality we felt would bring our prospects back to center, offer some stability, and allow them to better consider their lifestyle choices never arrived.

But maybe the New Reality is finally here, or at least within sight. Last month, consumer confidence jumped 46 percent. And while it still sits at 39 points, I take this as a sign that collectively we may all be tired of feeling bad. We’re seeing other “green shoots” as well. The stock market has held steady for more than a month, and there was a report that consumer spending from affluent households rose 20 percent in the first quarter of 2009 compared to the fourth quarter of 2008.

The key is stability and no more surprises. That’s the New Reality. Tough times, certainly, but stability. And stability is a critical factor in making decisions. So perhaps this is the time to re-engage in marketing efforts. To get back into those lead bases and shake up the wait lists. Confidence is growing, winter weather is behind us, the trees have leaves and the flowers are starting to bloom. You can’t stay down forever, and we know that CCRCs are full of optimists and extroverts. There are others just like them in your prospect pools. We also know the best prospects are well-educated planners. No doubt they’ve been exposed to these same reports. It’s not too much of a leap to believe some are starting to think, “Maybe we should stop waiting.”

I might jinx it, but I think the New Reality is finally here. Let’s use it to our advantage.

Mary Jane Fitts, Director of Sales and Marketing at GlynnDevins, is hosting a free webinar this Wednesday, May 13, at 11:00 a.m. CDT, about how to improve sales at senior living communities. Learn small steps you can take now to increase your chances for success and ways to enhance your selling process. Register here.