Retirement Living objection handing: Costs

When conducting a recent survey, one of the major factors in respondents choosing NOT to live in a retirement community is costs. While it is true that some retirement communities have high monthly fees, there are many affordable options available.

The reality

Despite the perception, Retirement Living Communities are often more cost effective than other housing options. When all the costs of living are considered – from mortgage or rent payments to groceries, utilities, and transportation – it’s usually cheaper to live in a retirement community. This is especially true when compared to the costs of living alone or in a nursing home.

Retirement communities also offer a wide range of amenities that can save money. For example, many have on-site laundry facilities so there’s no need to pay for a separate laundry service. Some have restaurant-style dining options, which can be cheaper (and more convenient) than cooking at home. And, many communities offer transportation services, which can help reduce the need for a car (and the associated costs).

We need to develop marketing strategies that get this point across.

There are a few key ways to handle objections when it comes to costs:

- highlight the value of the product or service

- offer a payment plan

- offer a discount

- highlight the features and benefits that are most important to the customer

Remember, the goal is to understand the objection and then address it in a way that meets the needs of the customer.

The marketing team should be able to provide a detailed breakdown of the associated costs with living in the community. This will help to provide clarity for why the community's prices are set at a certain level. Finally, and this is likely to be a wider organisational strategy, the marketing team should be able to offer potential residents a variety of financing options that can make the overall cost more manageable.

By breaking down the barriers to entry, we can increase the likelihood of potential residents considering the community as a viable option.