$14.99 for a 9-oz. classic steakhouse cut sirloin. Does that sound like a value to you? What if I also throw in a large helping of mashed potatoes, some grilled vegetables and a side salad of your choice. Now does it feel like an even better value?
Value is the intangible benefit you get for the price you paid. However, value means different things to different people, and it’s our job as marketers to find what’s valuable to each of our prospective residents.
When talking with a prospective resident about their hopes and expectations regarding retirement community living, it’s much easier to make a sale if you can determine what that deal-maker looks like. Some people are always looking to pay less, while others want more for the price you’ve established. The key is finding that sweet spot in the ever-changing equation: drop my price or add more services/extras?
The idea of added value came up recently when talking with a client about some higher-priced inventory. He wasn’t able to lower the price, but asked how he might make the higher price seem more valuable.
Here are just a few ideas for adding value to your existing price point:
- Room service
- Newspaper delivery service
- Fresh flowers delivered weekly
- Plant watering
- Nightly or weekend turn-down service
- Fitness Center passes for friends
- Gift-wrapping services
- Tailoring or mending service
- Dog walking and/or pet services, such as grooming
It’s all about perceived value, but perception is a different reality for each individual. Listen closely to find out what’s most valuable to your next lead, and you’ll be on your way to collecting their deposit check.
Do you have any examples you can share of adding value to your existing offer?