get a younger resident
Post on 09-Mar-2016
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Get a Younger Resident
Traci Bild, President & Founder Bild & Company
In 2007 there was no warning.
It’s 2013 and the warning bells are ringing.
Industry Trends • Record attrition • Older & frailer
residents coming in • Length of stay just
under 1.5 years • Record rates of
discounting • Demanding &
educated consumers • Unprepared sales
counselors
Rank in order, the trends most negatively impacting your business.
Times Have Changed
No longer all about care and operations
• Sales and service must be added to the puzzle to survive and thrive.
• Must be equal priority.
Innovate
Innovate
Perception
© 2013 Bild & Company
100% Occupancy
Fitting in the puzzle pieces • You have to do one at a
time • Know the pieces & their
order to drive revenue
Top Performers are Key
Top Performers Gallup found that top performing sales people sold on average 6-‐10 ?mes more than their average counterparts. Must bring professional selling to the world of senior living
YESTERDAY TODAY
Hire social workers, promote ac9vi9es directors, etc.
Professional sales person with track record or someone who is trainable.
Called marke9ng director or anything non-‐sales 9tled.
Must be comfortable with sales 9tle and own their posi9on.
EDs did not have to be involved. EDs must manage the sales department.
Re-‐ac9ve sales approach Proac9ve, driven sales approach
Salary Salary plus incen9ves to aHract true sales professionals
LiHle oversight or management Daily management and focus.
Sales was solely responsible for selling Must have a collabora9ve environment
Kept non-‐performers because we “liked” them
Replace non-‐performers with performers.
Sales were easy. Selling is challenging.
Hiring Top Performers
• Cast the role • Hire talent match • Compensate properly • Train sales systems • Sell two times more • Faster ramp up
© 2013 Bild & Company
Your Role as Leader
Set the Expectation • Create a sales centered
culture • Hire true sales people • Compensate properly • Daily sales focus
How might you improve your hiring process, hire top sales talent, and increase retention?
Why Professional Selling? Attract a younger resident • Traffic generation • Inquiries • Personal visits • Follow-up • Metrics • Accountability
Professional Outreach
What is your referral plan? Referred leads are 4 ?mes more likely to close than non-‐referred leads.
Referral Outreach • Ties into collaboration
• Ops must free up sales to get out to do outreach • Strong back up team in place
• Sales counselor • Out 2 morning per week • Going straight from home
• What is the focus? • Value • Education • Consistent communication with referral sources • Communicating why a younger resident would
benefit from your community- want and need
Innovate: How are you differentiating?
Your Role as Leader
Set the Expectation • Minimum 10 Inner Circle
referral visits per week • Challenge weekly strategy • Minimum 3 referrals per week • Train when metrics not hit • Implement action plans when
needed
How might you revamp outreach efforts to reduce your marketing budget, double traffic & attract younger residents?
Inquiry System
The single most important skill factor required to drive occupancy is to get more people to the door.
• Average inquiry to visit rate for AL is 45%, IL 35%
• Our benchmark is 60%, goal of 75% • Trained sales counselor average is
74% • How do you get seniors to inquire
sooner, versus later?
The prospect experience…what it’s really like.
Power of Significance
Why would someone spend $798 on a bag?
Power of Influence
Want to influence someone? Then ask better questions
• To influence people, you need know what influences them.
• They will convince themselves with your influence.
• Problems are really questions that have not been answered.
Your Role as Leader
Set the Expectation • Minimum 60% inquiries
convert to tours, goal 75% • Train when metrics not hit • Mystery shop consistently
and/or use call tracking lines • Implement action plans when
needed
What steps do you need to take to improve the inquiry process system wide to improve the customer experience?
The On-site Customer Experience
Convert Appointments to Sales
• Average visit to move-in: • AL 22%, Bild benchmark 40-50% • IL 20%, Bild benchmark 40% • CCRC 12%, Bild benchmark 25%
*Total visit to move in includes all re-visits
On-Site Visits • In the past people looked at 1.9
communities before making a move • Then it inched up to 4 • Today it is as high as 7-8
• How do you stand out?
Perception
© 2013 Bild & Company
Differentiate
• Live brand • Thread through
© 2013 Bild & Company
Differentiate
• Live brand • Thread through
© 2013 Bild & Company
Differentiate
© 2013 Bild & Company
Your Role as Leader
Set the Expectation • Strategic visit plans on all
scheduled appointments • Next step scheduled with 75% of
all visits at minimum • Minimum 35% total visit to move in
conversion • Train when metrics not hit • Mystery shop consistently and/or
use call tracking lines • Implement action plans when
needed
What steps do you need to take to improve the first visit experience for prospects and their families? How might this foster a move in now vs. later?
Follow Up
Follow Up
• Ask great, open-ended questions
• Tie into both wants and needs
• Put into a shopper’s state of mind
• Focus on the next step
© 2013 Bild & Company
Your Role as Leader
Set the Expectation • Minimum call block of one hour
daily • 30% dial to contact conversion • 30% contact to appointment
conversion • Train when metrics not hit • Managers must role play • Implement action plans when
needed
What steps do you need to take to improve the follow up process system wide to proactively close more sales?
It’s a game of inches…
DON’T JUST GIVE THEM WHAT THEY NEED. GIVE THEM WHAT
THEY WANT.
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