How Listening Can Drive Your Revenue Growth

Listening.

It’s what you do all day long if you’re in the C-suite of a senior living organization.

From listening to the concerns of investors to listening to the feedback from your executive team, having an open ear is key to your role.

But here’s what you need to realize—listening isn’t just important for being a leader.

Better listening can drive revenue growth at your individual properties.  

Sound far-fetched?

Before you make a judgment, you’ll want to hear what NPR has to say about two research studies revealing the power of listening.

Keep on reading to see why listening can impact your organization’s revenue growth…

Listening Can Improve Human Relationships

Think back to your college days.

If you took courses on communication, you may remember that asking questions is an integral part of what’s called active listening.

When it comes to asking questions, NPR recently released an interview revealing how powerful asking questions can be.

You can listen to the interview and check out the transcript here. But here’s a quick summary of NPR’s report…

  • In one study, researchers asked participants to become acquainted, instructing them to ask many or few questions.
    The result was…when a participant asked more questions, the other person found the question-asker more likable.
  • In another study, researchers analyzed asking questions, this time in the context of speed dating.
    When an individual asked more follow-up questions, this was connected to his or her dating companion’s “willingness to go on a second date.”

The point of both studies?

Asking questions—or active listening—can have a positive impact on relationships.

Listening Can Increase Revenue Growth

At Bild & Company, we’ve long advocated active listening as a powerful tool to…

  • Cultivate that important emotional connection.
  • Build value in meeting prospects’ needs.
  • Increase senior living occupancy.

While we didn’t need a study to validate our approach (our results do that), a report like this simply highlights the importance of transforming how your properties interact with prospects…which has a direct impact on your bottom line.

As you look to drive revenue growth in 2018, how your teams listen to future residents or their family members will make or break your properties.

You’ll want to make evaluating your portfolio’s communication skills a top priority in the upcoming year.

Helping Your Teams Improve Listening Skills Is a Must

It’s non-negotiable.

If you want to help struggling properties net up and achieve revenue growth, you’ll need to ensure each on-site team is asking the right questions.

However, as a senior living CEO, it’s key that you work on your business—not in your business.

With Bild & Company, there’s no need to waste your energy trying to pinpoint which communities fail to implement best practices and how you can correct the behaviors of on-site teams.

Our team of senior housing experts can comprehensively transform your portfolio through…

  • Mystery shopping your senior living properties. Our trained shoppers will identify how well your communities are leveraging the proven power of listening.
  • Targeted on-site and regional training. We’ll help your teams implement active listening as well as other proven strategies to achieve revenue growth.
  • Continued coaching. Our organization is here to ensure your teams follow clearly defined tactics and have a solid growth infrastructure in place.

Let our team help your properties master the art of communication with the science of our proprietary systems.

To discover how you can empower your organization, simply contact us online or call 1-800-640-0688.

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