Driving more leads to properties is a short-term fix for low sales. For a lasting solution, it’s pertinent to get down to the root cause of low sales. Here are the two most common root causes of low sales that we see when we run diagnostics with organizations like yours:
1. Overdependence upon referral agencies.
“Referral agencies are just a necessary evil of the industry, right?” Only yesterday a senior living community owner said this to me. I hear it all the time.
Another leader in the industry, Angie Hildebrandt from Our House Senior Living, calls the industry’s addiction to referral agencies “drinking the Kool-Aid.” In an upcoming Big Buzz podcast episode, she talks about how much she dreaded calling referral agency leads when she was in a sales role. Once she became an executive, she completed a two-year financial analysis to get the data needed to determine whether referral agency leads were serving her organization. It turned out they were spending six figures on various referral agencies without return on investment.