A new study in Forbes found that “the average company loses 20-40% of its customers every year.”
Many losses can be greatly avoided just by listening to our customers. The leads are knocking on doors. The question is, are we following up?
Take a look at these stats published by GetFeedback.com:
- “80% of American consumers point to speed, convenience, knowledgeable help, and friendly service as the most important elements of positive customer experience.” (PWC)
- “75% of online customers said they expected help within five minutes, have used comparison services for consumer goods and trusted online reviews as much as personal recommendations.” (Mckinsey)
- “55% of consumers say easy access to support and information can make them fall in love with a brand.” (RightNow)
According to Lana Peck, Senior Principal of National Investment Center for Seniors Housing and Care, “One-half of respondents to the Wave 40 survey (52%) reported lead volumes above pre-pandemic levels in April—a notable increase from the Wave 38 survey reflecting results in February (33%). However, expectations for occupancy to recover to pre-pandemic levels in the near term have tempered over the past year.”
Executives and owners of the 65 senior living and skilled nursing communities surveyed of Wave 40 reported lead volume increases as follows:
- Single-site: 15% to 44%
- 2 to 9 properties: 21% to 50%
- 10 to 25 properties: 45% to 50%
- 26+ properties: 56% to 63%
Clearly, the lead volume is there, including increased levels of consumer trust in senior living establishments. But for many communities, lead management is an unaddressed problem.
Without the capacity to manage the numerous inquiries that come in, opportunities are missed—and missed opportunities are lost income for your company.
Every call to your community has potential to convert to a move-in, which is why every time the phone rings or an information request is submitted, a speedy follow-through can’t be overlooked.
Business2BusinessCommunity.com’s report indicated “ rep is 100x less likely to make contact if the first call is made 30 minutes after submission. The odds of making contact drop by 3000x if the first call is made 5 hours after lead submission.” And people aren’t getting any less patient these days.
When someone has squeezed in the time to submit the form or make the call, they’re ready for an informational conversation, answers to nagging questions, and peace of mind that they’ve found a good business to move forward with. But when you wait 15 or 20 minutes or even days, leads continue their research online and contact the next place that catches their eye. And that just might be the place that gets right back, is friendly, and has everything they’re looking for.
Even if your lead does uncharacteristically wait for your call, the longer it is, the less favorable their opinion will be of your company. By the time someone is ready to move into a community, they need answers NOW and are not likely to wait long.
You may come highly recommended or have 5-star Google reviews, but that means nothing to a customer who perceives their needs (and money) aren’t a priority for your community.
If better lead management has been a to-do on your list for too long, maybe it’s time to take a new approach.
SeniorVu’s contact center will manage your top of funnel leads to make sure nothing is dropped. Our Family Advocate Mentors (FAM) contact your leads within five minutes, plus up to 10 times if customers are difficult to reach on the first and subsequent calls. When they get your future residents on the phone, they initiate a detailed conversation based on the needs of that lead.
Even waiting the all-too-common 24 to 48 hours to connect with leads is too late. By that time, it’s highly likely they’ve talked to another community and scheduled a tour…one that might’ve been yours with swift protocols in place. Marketing business leader, Brenda Stoltz, says, “We can no longer afford to respond to lead emails when we get around to it. Our customers are impatient, and if we want that sale, we have to be on top of it.”
Vice President of Sales and Fitness at EOS Fitness, Michael Kennedy says, “You want to ensure there’s someone you can hold accountable to make sure the lead is being followed up with appropriately.”
This is also important for non-urgent inquiries. If a caller is doing some preliminary research and has plenty of time to decide, our FAM keep the relationship going with follow-up calls and/or emails. Some of those lead relationships can last for months or years, and percentages have shown that consistent nurturing produces more move-ins. SeniorVu keeps up with your quality leads so you can put your efforts toward successful tours and current residents.
Lead management is a way to build trust with customers that your services are reliable, up-to-date, and high-quality—and automatically puts your community in the running. Making sure every person who contacts your community is given VIP treatment is just smart business and gives you that wow-factor few possess.
Good news from NIC: “Data from the Wave 40 survey reflects an increase in the share of operators reporting acceleration in the pace of move-ins after COVID-19 variant cases declined sharply in the U.S.” For independent living, the pace of move-ins was at a 50% increase. For assisted living, the increase rose to 61%.
No one likes buyer’s remorse, and that especially goes for large purchases like a senior living arrangement. A community that cares on the front end gives leads the faith that they’ll care for them as clients. Don’t let your leads go somewhere else. Get them to choose you because of the exceptional service you give. And build their loyalty early, so they go into this decision wholeheartedly and trusting in a healthy change.
SeniorVu is here to help. Let us get back to you in five minutes or less with a plan you’ll love.