When your small- to mid-sized operation experiences declining occupancy, it’s easy to focus on temporary solutions instead of long-term strategies. Before you know it…
You’re using discounts as a crutch, offering incentives to every lead who comes through your doors.
You’re tempted to increase care plan prices or convert services that were once all inclusive into à la carte options.
You’re starting to cut staff hours in an attempt to patch revenue gaps.
But the more you focus on not losing ground, the less you seem to gain.
Ultimately, increasing your occupancy and revenue begins with shifting your mindset. In this article, we’ll help you see the growth that is possible and how Senior Living sales training can make the difference in revenue.
The Impact of a 5% Occupancy Increase
The first step to transforming your occupancy situation with Senior Living sales training begins with acknowledging your destination. As you battle turnover and lost revenue, you may not think about what’s possible.
For instance, if occupancy is at 80%, a goal of even 90% can seem overwhelming. But here’s the reality.
An increase of as little as 5% can have a significant effect on your community.
To see what we’re talking about, check out these stats. Recently, Genworth Financial reported the 2016 national medians for long-term care.
Here’s what they found:
- The assisted living care median was $3,628 per month.
- The nursing home care median was $6,844 per month.
Translate those figures into realistic scenarios, and the potential is obvious.
For example, if your assisted living community holds 120 beds, but you’ve only filled 100 beds, you’re suffering from a huge revenue gap. However, simply boost your occupancy by five new residents (a 5% increase), and you’ll increase gross revenue by…
- More than $18,000 per month.
- An excess of $217,000 per year.
With extra income in hand, you can do everything from hiring qualified staff to completing renovations. Or you can choose to convert your new revenue into marketing dollars or outreach events that drive leads.
In other words, you gain more than cash flow—you gain options that empower you to reinvest in your community so revenue increases even more.
Senior Living Sales Training—The Key to Driving Revenue
The key to gaining traction at your community isn’t discounts, lower prices, or cheaper care plans. Senior Living sales training gives your sales department what it needs to achieve a 5% occupancy increase or more.
Sales training lays a solid foundation for your sales counselors, empowering them to…
- Consistently turn inquiry calls into appointments for tours.
- Customize the touring experience to meet the needs of your prospects.
- Successfully overcome objections that seem to halt the sales process.
- Build an emotional connection that drives revenue.
- And more.
Training helps you put an end to mismanaged prospects, lost leads, and community tours that do little to create sales traction. As you transform your sales counselors into sales professionals, you’ll stop relying on ineffective solutions to prop up your community.
To see if a lack of sales training is creating your occupancy struggles, we invite you to download our 13-Point Checklist: Close Revenue Gaps and Increase Occupancy for Your Senior Care Community for free.
This complimentary checklist reveals if absent Senior Living sales training is widening your revenue gaps and creating a downward spiral.