Get a Younger Resident

  • Published on
    09-Mar-2016

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Does attrition concern you? Has the average age of your resident dramatically increased? Is your length of stay down to 12 months or less? Are you unable to net up enough new move-ins to grow occupancy and revenue? If you answered yes to these questions, attend this advanced, two-part interactive session and learn firsthand what you can do to proactively attract and close a younger resident. Participants will work ON their business versus IN it and leave with three strategies designed to attract and move a younger resident. Understand the financial impact and value of a resident who is just two years younger. Learn four systems that must be in place to attract and close a younger resident. Map out the top three barriers to getting a younger resident in your community and implement three strategies designed to remove them. Traci Bild, President, Bild & Company

Transcript

  • Get a Younger Resident

    Traci Bild, President & Founder Bild & Company

  • In 2007 there was no warning.

    Its 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 experiencewhat its 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 shoppers 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?

  • Its a game of inches

  • DONT JUST GIVE THEM WHAT THEY NEED. GIVE THEM WHAT

    THEY WANT.