When it comes to increasing occupancy and revenue for mid-sized operations, many senior care communities don’t need…
- Better care options.
- Better clinical staff.
- Better grounds and living areas.
But they do need one thing to increase net operating income—to stop leaving money on the table due to a poor sales culture and the inability to close sales.
It’s sad but true. The inability to net up and grow can be a self-inflicted wound for senior care providers. To demonstrate what kind of profits you might be leaving on the table, I’m going to share a case study with you.
One of Bild & Company’s clients was a mid-sized Senior Living provider. This senior care operator had occupancy problems, even though it ran 30 communities in Iowa, Wisconsin, and Minnesota.
The revenue gaps were so large that our client left over a million dollars in profit on the table. After we helped transform these communities, our client reclaimed $1.7 million in extra revenue.
While our client had many challenges, here are 3 things that hampered this organization from increasing occupancy—and how you can keep your community from falling into the same trap.
#1 Our client was operations driven.
Having a sales-centered culture is difficult in the Senior Living industry. And it was no different for our client. This company utilized the executive directors for both sales and operations at the site level.
When sales strategies are seen as an afterthought, it should be no surprise that revenue takes a dip. To see increasing occupancy and revenue, we brought sales into the spotlight, and we gave it the attention it deserved. The result was a boost in revenue across the communities.
If you want to avoid leaving profits on the table, you’ll need to make sales—not just operations—a priority.
(To help your operational, clinical, and sales staff create a raving-fan customer experience, check out Bild & Company’s sales training.)
#2 Our client lacked a formal sales process.
Simply because you have a sales department doesn’t mean you have effective sales systems. In our case, our client didn’t have a sales system, even though it operated 30 communities.
This isn’t an isolated case.
Many times, senior care communities lack a systematized way of answering inquiries, conducting tours, and following up with prospects. The result is a haphazard method of closing leads…one that leaves money on the table.
For our client, we crafted a sales system that helped spark increasing occupancy. If you want to see sales traction in your community, carefully consider if you’re lacking a sales system to support your sales team and operational directors. Find a comprehensive solution to shorten your sales cycle.
#3 Our client didn’t have an effective follow-up system.
One way we helped our client reclaim lost revenue was by establishing a robust follow-up system. Changing the way our client kept in touch with leads helped change occupancy.
The lack of follow-up systems isn’t a rarity when it comes to Senior Living sales. It’s all too common, and communities miss out on the opportunity to stay in the top of their audience’s minds.
Don’t miss out on the revenue-producing capabilities of simply contacting your leads one more time. It doesn’t have to be complicated. You can direct your sales team to…
- Make a follow-up call.
- Conduct a home visit.
- Better yet…schedule that next critical step before getting off the phone or leaving the tour meeting.
The goal is to build the emotional connection and show your prospects the value your community offers.
These three ways caused our client to lose revenue opportunity, and your community may be struggling with the same challenges.
The good news is that you can gain targeted support for your community’s unique needs with sales training. Sales training will pinpoint how your sales team is causing your community to miss out on large sums of revenue.
Whether you need sales training or someone to stand in the gap for a sales-related need, Bild & Company can help you begin increasing occupancy and avoiding lost revenue days.
I encourage you to send me an email at firstname.lastname@example.org. You can also text 813-390-3349 with your name and number. Let Bild & Company fix sales-related problems so you can pocket profits for your operation.