Should You List Pricing on Your Senior Living Website?
Seniors and families searching for a senior living community often share the same complaint — no pricing listed on websites. According to a study by Creating Results, 68 percent of people who moved into senior housing in the last two years and 75 percent of their family members complained that prices aren’t revealed on websites. In the Age of Assistance, where consumers expect to be met with relevant and current information, transparency in pricing makes a big difference in converting visitors into leads and leads into residents.
Why Senior Living Marketers Don’t Display Pricing
Why are so many senior living providers hesitant to display pricing online? The primary argument against is that every resident is different and has unique needs. Senior living providers prefer to engage in personal conversations, meet with residents, and help loved ones and residents get a sense of whether or not their community is the right place. Senior living marketers see this variation as a legitimate reason not to include pricing on websites because it could be misleading or inaccurate. Senior living can also be expensive due to the nature of care and some believe that by displaying pricing online, some prospects may be scared away by the “sticker shock.”
Why You Should Add Pricing to Your Website
A number of senior living communities are breaking from the industry norm and now display pricing on their websites. In the past, senior communities didn’t immediately provide pricing because they focused more on building relationships with prospects and having those conversations about cost in-person, one-on-one. The rise of the Internet however has sparked a change in the way people research senior housing options. Senior living communities that display pricing on their websites understand that the more information they provide for prospects along the buyer’s journey, the more likely they are to attract quality leads.
Transparency — Being transparent and displaying your base rate can be helpful for prospects doing their research. According to Lead Insite, which conducts research in the senior living industry, they see higher conversion rates for communities that display their pricing online more than those that don’t. Prospects expect transparency and will look elsewhere if they can’t find the information they seek on your website.
As senior living marketers, you want the adult children of your prospective residents to understand what the starting price is and any caveats there may be, including additional care services.
Prospects Can Self Qualify — Providing pricing on your senior living website allows prospects to self-qualify before they reach out for additional information. Many families have specific budgets in mind and pre-qualifying them before starting the conversation often results in more conversions. Pricing is something visitors to your website want to see. When they see your base pricing and reach out to you for more information, you already know they meet the general buying criteria, making them more likely to convert. Pre-qualifying leads helps focus your energy on prospects that will give you the best return on your time, investment, and effort — resulting in less time wasted during the sales process.
Understand the Buyer’s Journey — The buyer’s journey has changed. Today, people spend more time researching information online and if they can’t find what they need, they will move on to a competitor that does. Prospects now consult more than 20 online sources before making a buying decision and expect to be met with the information they seek at each touchpoint. By providing base pricing on your website, your odds of connecting with a prospect on their journey increase. This sets up your business to succeed by delivering the right message to the right person at the right time.
Meet Buyers on Their Journey By Displaying Pricing
The way people research senior housing has changed. Prospects expect engagement at each touchpoint along the buyer’s journey with relevant information. By providing pricing on your website, you establish trust and transparency with prospects and allow them to self-qualify, saving you time, money, and effort during the sales process. Despite traditional beliefs, revealing your pricing won’t scare off prospects. In today’s digital landscape, it can result in more qualified leads.
Learn how you can connect with the right prospects at the right time by downloading G5’s latest eBook — 20 Digital Touchpoints: The Real Estate Marketers Guide to the Buyer’s Journey.