how to maximize your retirement community sales funnel

1

Making the Most of Your Sales Funnel – How to Maximize on Your Leads and Decrease Prospect Drop-‐off

Comfort Life Lunch & Learn THURSDAY, APRIL 16, 2015

2

IntroducEon to GMAC

•  Greenhouse MarkeEng & CommunicaEons •  Heather Green •  Patrick Boult •  Sylvia WaNs

3

Let’s put our brains together

•  The world according to me •  Opinions, thoughts •  Ideas that have worked •  Ideas that have bombed •  Bathrooms and phones

4

Our Approach for Today

•  Variety of people in the audience: •  Home care, management, consulEng and reErement

•  Site and head office people •  RepresenEng one locaEon or many •  In development stage or exisEng

•  Let’s talk on two levels: •  Things a regional or head office person can do to support the sales funcEon

•  Things a site person can do to maximize their leads

5

MarkeEng & Sales – which is which?

•  MarkeEng – all those acEviEes undertaken to get someone to contact your organizaEon

•  Sales – the process that occurs once a prospect has made iniEal contact

Today we will concentrate on sales ac0vi0es

6

The MarkeEng/Sales Mix

•  Too o^en, there is an imbalance with the markeEng/sales mix

•  Too much emphasis is put on generaEng leads and not enough on managing each of them fully

•  This can lead to too much traffic to be managed effecEvely

•  The result? You only get the “low hanging fruit” – assisted living clients or those who “sell” themselves

7

The MarkeEng/Sales Mix

•  Some percentage will always close but a good sales process results in higher conversion rates with less traffic and few markeEng dollars spent

•  It’s a vicious circle – if you don’t spend enough Eme with each prospect, you end up needing more traffic simply to achieve that percentage that are needier AL clients or who come in prepared to buy

8

Let’s Explore . . .

•  Your metrics •  Your funnel •  Where you legiEmately lose prospects along the way

•  Other prospects who “leak out” unintenEonally

•  Those we lose once they’ve actually made it to the door

•  The big fat gaping drain at the boNom of the funnel – lack of follow-‐up

9

Your Metrics

•  It’s important to understand where your prospects come from and how much it costs you for each one

•  Examine: •  Your lead generaEon cost •  Your resident acquisiEon cost •  Your conversion rate from new inquiry to tour

•  Your conversion rate from tour to deal

10

Lead GeneraEon Cost

•  Take your 2014 markeEng budget for all lead generaEng acEviEes (not admin like postage or mileage, or collateral materials, model suite or sales-‐related costs)

•  Divide it by the total number of new leads (internet, telephone and walk-‐in) to arrive at a cost-‐per-‐lead

•  Do the same exercise by category, such as print ads, community outreach, direct mail, etc. to compare one source to another

•  Some leads are cosEng you as much as $500

11

Resident AcquisiEon Cost

•  Take your 2014 markeEng budget for all lead generaEng acEviEes (not admin like postage or mileage, or collateral materials, model suite or sales-‐related costs)

•  Divide it by the total number of new residents who moved in in 2014; it’s up to you as to whether you include respites/short term stays

•  Do the same exercise by category, such as print ads, community outreach, direct mail, etc. to compare one source to another

•  How much does it cost you to acquire a new resident?

12

Conversion Rates

•  Three types: •  IniEal inquiries to tours – we aim for 50% •  Tours to deals – depends on market – from

15-‐35% •  IniEal inquiries to deals – varies widely

13

Why is this helpful?

•  For budgeEng •  For diagnosEcs

There are only two ways to increase sales:

Your either increase traffic and maintain the same closing rates

OR You keep the same traffic but improve the closing

rates OR

You increase traffic AND improve the closing rates

14

Goal Senng – Telephone Goals

Monthly Goal (budgeted new residents + attrition)

Closing ratio of deals to tours

Number of tours needed

Closing ratio of tours to telephone calls

Number of telephone inquiries needed

Instructions: • Do this exercise for each month • Put your budgeted # of new residents + your attrition into the first column • Calculate your ratio of deals to tours in the second column. • Calculate the # of tours required as per the ratio • Calculate your ratio of tours to initial telephone calls • Calculate the # of initial telephone inquiries required.

14

15

Goal Senng – Telephone Goals

Monthly Goal (budgeted new residents + attrition)

Closing ratio of deals to tours

Number or tours needed

Closing ration of tours to telephone calls

Number of telephone inquiries needed

3 1:3 9 1:2 18

15

16

Filling Your Funnel

Workable Leads

Electronic

ads Online Ads

Print Ads

Signage

Direct Mail Out-‐of-‐Home Ads

Social Media

Community Outreach

Referral Programs

17

LegiEmate Loses

Workable Leads

Social Media

Can’t afford it Too ill

Too young

Wrong ethnicity

….. Have requirements you can’t meet

Poor locaEon for family

18

Avoidable Loses

Workable Leads

Out-‐iof-‐Home Ads

Social Media

Can’t find contact info on website No one returns call

Automated phone system

Brochure takes days or weeks to arrive

….. Inquiry goes to voicemail

No rapport building on phone

No discovery done on phone

No one available to take call or uninformed, untrained person takes call

Evening/weekend phone staff are clueless

Phone rings a dozen Emes

Told to call back

Not encouraged to come in for tour

Quickly offers to mail out brochure

Feature-‐dumping on phone

Shared info not recorded; no lead sheet started; not entered in CRM

English skills poor

19

What happens once the funnel drops them at our door? Common turn-‐offs Environmental: •  Difficulty parking •  Challenge figuring out where front door is •  Heavy or difficult-‐to-‐open door •  Inner door locked; hard to figure how to enter •  InaNenEve recepEonist •  Residents sleeping in lobby •  Odours •  Huge office-‐like lobby •  No residents visible •  InsEtuEonal or care atmosphere

20

What happens once the funnel drops them at our door? •  Dirty building •  Dated décor •  Too much paper •  Cramped spaces

21

What happens once the funnel drops them at our door? Common turn-‐offs Sales: •  RecepEonist is not expecEng prospect •  Prospect asked to fill out form •  Coat not taken •  Kept waiEng •  Refreshment not offered •  Salesperson does not give full aNenEon;

distracted or unprepared •  No rapport building •  Salesperson does not refer to knowledge

already gained

22

What happens once the funnel drops them at our door? •  Tour feels rushed •  Tour directed towards family, not prospect •  Tour begins at door •  Discovery is held in an office environment •  Brochure is given at beginning, rather than

end, of tour •  LiNle to no discovery •  Residents and staff are not introduced •  No model suites, they are far away or they are

“ho hum”

23

What happens once the funnel drops them at our door? •  Too many empty suites shown •  Empty suites shown are not in perfect repair

or need cleaning •  Common areas are disorganized; their

purpose it is not immediately apparent •  ObjecEons are not countered along the way •  Salesperson fails to match prospect needs

with product offerings •  Salesperson emphasizes and shows things

prospect has indicated liNle to no interest in •  Salesperson fails to do liNle closes along the

way

24

What happens once the funnel drops them at our door? •  No recap done •  Tour ends at door •  Salesperson does not ask for close and

neglects to set next point of contact •  Detailed notes and next acEon not entered in

CRM

25

The huge drain at the boNom of the funnel . . .

Lack of follow-‐up Only 20% of marketers follow-‐up, even once.

26

Keeping the funnel full

•  PrevenEng loss of prospects from the funnel is as important as filling the funnel and is less expensive

•  Four strategies: •  Understanding your metrics – what do you

need, how much does this cost and what goals should you set

•  Ensuring the in-‐person prospect experience and sales process is excellent

•  Following up •  Infusing a sales culture into the

organizaEon

27

What is a “Sales Culture”?

•  A “sales culture” is a working environment in which all employees – not just the General Manager and MarkeEng Director – are commiNed to keeping the residence full

•  You can almost subsEtute “customer service” for “sales culture” as the same elements which make for good customer service also make for good sales.

28

Fostering a “Sales Culture” Approach

A focused sales approach involves making the most of each lead:

•  Every employee is aNuned to doing everything possible to assist in sales (customer service)

•  A professional salesperson and a team of back-‐up “salespeople” available to assist a prospect at every reasonable Eme.

•  Making a good impression on the phone, learning about the prospect, having them like you, genng them to book a tour

29

Fostering a “Sales Culture” Approach

•  The moment of truth – the tour. Great salesperson + great impression about everything to do with the building, residents and staff.

•  Helpful, Emely, customized follow-‐up.

30

The Facets of a Sales Culture

•  Lead by example •  Respect the sales funcEon •  Employee (and resident) engagement

31

The General

•  The General Manager has the greatest impact on your sales culture.

•  In what ways does he/she set the tone?

32

RespecEng the Sales Role

If the organizaEon believe the sales role is important, so will its employees. This involves: •  Hiring the right person •  Using the right Etle •  PosiEoning this person as a manager •  Giving the posiEon only sales related duEes •  Showing support and respect

33

What is the MarkeEng Manager’s Role?

•  AssisEng in development of the markeEng plan and budget

•  AssisEng in occupancy projecEons and budgeEng •  Providing input on pricing •  Keeping up-‐to-‐date compeEtor analysis •  ImplemenEng elements of the markeEng plan to

generate traffic – generally community outreach such as sponsorships, presentaEons, trade shows, etc.

34

What is the MarkeEng Manager’s Role?

•  Handling phone inquiries •  Doing tours •  Following up •  Closing deals

35

Tasks the MarkeEng Manager Should Not be Doing •  Manning recepEon •  AssisEng with acEviEes •  Serving at Happy Hour •  Handling resident concerns The grey zone: •  Handling internal moves •  Signing the contract •  Purchasing welcome gi^s •  Arranging funeral flowers or donaEons

36

The Take-‐Out Window Analogy

•  Think of your MarkeEng Manager as the staff person at the take-‐out window. She is responsible for taking the order and genng the payment. If you have her running around preparing burgers and filling straw dispensers, your take-‐out window will be losing orders.

37

Involvement

•  Involvement of the General Manager in the sales funcEon through daily/weekly meeEngs, meeEng prospects, doing tours, conducEng follow-‐up, signing contracts

•  Involvement of staff at every level.

38

The Secret Weapon

A friendly, caring staff is the most powerful selling tool. To the client, their impression of the friendliness and welcoming ambiance of the residence has liNle to do with the décor and much to do with the smiles and kind words from staff.

When ques0oned why they chose a par0cular residence, residents o<en say it “was a just a feeling. It felt warm and friendly. I knew it almost as soon as I walked in the door.”

39

Whose Job is Sales?

We all know the answer. Occupancy is everyone’s job. We all have a vested interest in bringing in appropriate, happy clients in a Emely fashion.

The General Manager oversees the funcEon, helps to set goals, monitors and measures, meets prospects being toured, contributes at Emes by responding to inquiries, touring or doing follow-‐up and, most importantly, by clearing the path for the marketer to do her job.

.

.

40

Whose Job is it Anyway?

The designated marketer is the lead on taking inquiries, booking tours, conducEng tours, doing follow-‐up and closing deals.

The RecepEonist assists by answering the phone in a pleasant unhurried, clear manner. She smiles while on the phone and gives the client her full aNenEon. She asks the right quesEons and finds someone to handle the inquiry – a real person, not voicemail or a message – if possible. She takes clear messages and writes down every detail. In person, she smiles, maybe even stands, and makes the client comfortable while waiEng.

41

Whose Job is it Anyway?

Every staff member plays a role by doing his/her job well so the residence looks great and the service is exemplary. On a tour, each staff member assists by smiling, saying “hello” and, if introduced, doing their “30-second commercial”.

42

The 30-‐second Commercial

•  The 30-‐second commercial is a well-‐thought-‐out few words mentally dra^ed by each employee. Then, when the marketer is on a tour, she can introduce that employee with confidence.

•  Generally, the 30-‐second commercial should include the person’s name, what they do and why they love their job (or why they think the residence is a great place). For example, the touring marketer may stop a housekeeper and introduce her to those people she is touring. The housekeeper, having mentally prepared her 30-‐second commercial, can then say a few lines to the effect of “Nice to meet you. I’m Helen. I’m the housekeeper on the third floor. I’ve worked here almost two years and I love the residents. I hope your mom will move in with us.”

43

The 30-‐second Commercial

•  The recitaEon is not mean to be canned or phony, just a few lines from that employee’s heart.

•  You can schedule a short inservice on each shi^ to teach employees the 30-‐second commercial. It can also be part of your orientaEon program. During the training session, each employee could take 10 minutes and fill out a form detailing what he/she would say during their 30-‐second commercial. Some employees could be asked to stand and read theirs out loud.

44

The Sales Role for Department Heads

•  The sales role for department heads varies from site-‐to-‐site and company to company.

•  Some residences have mulEple sales people so the requirements on the team are less.

•  Some residences have no designated sales person so the role is split among every department head.

45


•  In a structure that exists at most residences, there may be several ways in which a department head could called upon to assist with sales: •  As a back-‐up to answer a telephone inquiry when the Marketer is not available.

•  As a back-‐up to take a prospect on a short or full tour when the Marketer is busy with another client or otherwise unavailable (perhaps out doing community outreach?)

•  As the designated person to do tours on a weekend during a duty manager rotaEon.

46


•  In either of the above cases, the department head must be sure to take copious notes and thoroughly brief the Marketer when they hand over the lead sheet.

•  The department head might be introduced by the Marketer or another department head on tour. The marketer may even seek out the department head because the prospect has something in common with the department head (home town, career, etc.).

47


•  The department head may be asked to join a Sales Sprint team of a few people who regularly brainstorm prospects and decide on objecEves and courses of acEon.

•  Very occasionally, a department head might be asked to follow up with a prospect with whom you really hit it off.

•  AssisEng at markeEng events.

48

Gaining Commitment

•  Changing a culture and making it sEck is not an easy task. It involves punng a plan together and implemenEng it conEnually and consistently.

49

The Six Secrets of Commitment Building

•  Lead by example. Roll up your sleeves and pitch in. •  Involve. •  Communicate. •  MoEvate. •  Train & coach •  Recognize

50

How to Involve Employees

•  Include markeEng & sales in orientaEon •  Have you marketer meet & tour each new staff member •  Devote part of your daily department head meeEng to

markeEng; ask for suggesEons, assign tasks •  Choose department heads to serve on the Sales Sprint. •  Have your marketer (and yourself) regularly present

markeEng & sales informaEon at employee meeEngs; ask for ideas and feedback.

51

How to Communicate

•  The biggest complaint noted on most employee saEsfacEon surveys is “lack of communicaEon within the organizaEon”.

•  Communicate expectaEons clearly – menEon the sales duEes right in the interview and put it in the job descripEon.

•  Have a “markeEng board” in the staff room – post weekly occupancy and traffic informaEon, as well as adverEsements, markeEng materials, etc.

•  Devote a porEon of employee meeEngs to markeEng. •  Have a monthly markeEng newsleNer.

52

How to MoEvate

•  Referral bonus •  Lead bonus •  Through recogniEon and praise.

53

Train & Coach

•  IniEal training is important but it is the ongoing day-‐to-‐day coaching that will achieve the desired results – a change in behaviour

54

Training Programs

•  IniEal orientaEon & tour •  Everybody is a marketer – training session led by your

marketer •  Telephone/recepEonist training on sales telephone skills

– led by your marketer •  Department head training – how they fit •  Sales training for marketer and selected (or all)

department heads

55

Understanding the Coaching Role

•  The awesome power of personal aNenEon •  What does this mean? •  Modelling the behaviour you want: personal aNenEon

and relaEonship building •  You know your people and you show them you have a

caring antude towards them.

56

The Importance of Coaching

•  Strong sales cultures don’t just naturally occur. They are developed over long periods of Eme with a great deal of effort put in by everyone involved. At the foundaEonal level, you might say that a strong sales culture at a given residence could mean that everyone is commiDed to ensuring the residence conEnues to thrive – to be full with a wait list.

57


•  Gaining commitment – in our sales training, we talk a great deal about gaining the commitment of a prospecEve resident through driving a strong sales process and following up, etc. When it comes to developing a sales culture, gaining commitment from the people who work for you is paramount in achieving your goals.

58


•  Although this might be paramount to the success, it’s not easily achieved. We certainly can’t reach into someone’s head and turn up their level of commitment. They need to give to you; they have to want to do their best. This can be achieved through coaching and by using . . .

59

The Skills of a Good Coach

•  A caring antude •  Your presence and personal aNenEon •  Developmental bias

60

Gaining Employee Commitment

Properly coach them through: •  Clarity (imagery) •  Increasing their competence •  Giving them recogniEon

61

RecogniEon – Six EssenEals

•  Do it o^en. •  Do it promptly. •  Be creaEve. •  Make it easy for a person to do. •  Involve all employees. •  Build it into the system.

62

The Importance of RecogniEon

“A manager empowers others by giving them recogniEon which enhances their self-‐esteem and moEvates them to conEnue to do their best work. A person’s power to achieve success if dependent upon his belief in himself and his desire to do consistently excellent work. A manager has more power to achieve his objecEves when the people who work for him are confident and moEvated to do their best work.”

Diane Tracy, 10 Steps to Employee Empowerment

63

How to Recognize Employees

•  In 1001 thoughyul ways: a menEon in a newsleNer, a post-‐it note on their locker, a warm handshake and kind word, a note card sent to their home, a Tim Horton’s gi^ card, an “execuEve parking spot” for the day, take an employee to lunch, bring in a favourite treat, etc.

64

Capitalize on Your Biggest Fans

•  Introduce them on tour; have them eat lunch with a prospect, send that person a note

•  Have a referral program •  Do an “invite a friend to lunch” week •  Host their groups in your residence •  Use them in your ads •  Have an “Ambassador Club” – special events, trade

shows, tours, new residents, respites, newsleNers, etc. •  Recognize, praise, thank

65

Succeeding with the Team Approach

“If everyone is moving forward together, then success takes care of itself.”

-‐ Henry Ford

66

In summary

•  Stop the unnecessary drain on your sales funnel by: •  Understanding your metrics and seeking to make

improvements in process and performance by making changes

•  Refining your tour process and the “customer experience” of a prospect

•  Following up! •  Infusing a sales culture through

68

Thanks for the opportunity to share the Greenhouse MarkeEng approach sales