Sales & marketing
How relationship-based sales can boost care home occupancy rates
Alex Fisher, president and co-founder of sales technology and training platform Sherpa, explains how care home sales teams can boost lead conversion rates and, in turn, occupancy
The later living sector, including care homes and retirement communities, is projected to grow by leaps and bounds in the coming years. Occupancy levels are crucial to maintaining this growth. As seen in countries like the US, success
is driven by dedicated sales teams that allow time for relationship-building with prospective residents and their families. No matter where the market, and despite the incredible benefits of later living, such as convenience, care, and opportunities for socialisation, many people are simply not ready to buy. David Smith is my fellow co-founder of Sherpa, a sales technology and training platform for later living. In his book, It’s
About Time, he explores why many older people are resistant to a move. ‘For older adults considering a move to senior living, especially the higher- functioning individuals who aren’t forced to move due to a medical emergency, the decisions of whether, when, and where to move are absolutely life-changing and need to be made at their own pace,’ he wrote. ‘The key to more effective sales results with any complex, emotion-laden sale lies in how we overcome this critical prerequisite by realigning with the buyer’s emotional decision-making process.’ You probably have a fantastic later living offering. It includes a building with amenities, services levels, activities and a
food menu, among other items featured in your brochure. These are important to communicate to your prospective residents. Yet it is more likely that the relationship
you build with your individual buyer will lead to a positive outcome. Most importantly, by connecting on a deeper, more personal level, you can help inspire your prospect to become a satisfied resident who wishes they had moved sooner. My colleagues and I believe that spending meaningful sales time with fewer prospects is fundamental to success and recovery in this sector that was impacted by the pandemic. How can teams spend this valuable resource – time – in the most effective way possible?
The importance of time Data from Sherpa users reveals that later living sales teams in the US, where our company is based, doubled their conversion rates when they spent an average of 2.5 hours engaged in direct interaction with each prospective resident. This was compared to teams that spent an average of one hour or less per prospect. By investing time to understand the concerns and desires of potential residents, sales staff can develop a genuine rapport while identifying some of the key barriers or objections getting in the way of a decision to buy. Your care home or community may be amazing. Yet unless you are able to understand and address your prospect’s very individual set of needs, then there may not be enough to set you apart from your competitors.
Sherpa co-founder David Smith leads a sales planning session focused on a prospective resident’s profile, previous interactions, and next steps
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The pandemic has made our situation challenging but it is just one more objection to what has always been a very difficult decision filled with objections and ambivalence. Taking a more person-centred approach, rather than a transactional one, is crucial to increasing sales and growing occupancy.
www.thecarehomeenvironment.com January 2022
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