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Making Lemonade out of Lemons

Corporate Sales and Marketing

 

Wright Mature Market Services
3302 North Alder Street
Tacoma, WA 98407

P|F 253-241-4298


As part of Steve Wright's presentation at NIC Program, he and several leading experts in the industry collaborated on and collected key data on sales and marketing metrics for the assisted living, independent living and CCRC Industries.

Underachieving Senior Community

...Soon to be the crowded market.

The Challenge
The community had already been open 18 months. By most standards that would have meant close to if not at a break even point – 80 to 82 percent occupied. Not the case, not even close for this Central California Community. And with the sub prime lending issue affecting this area very hard – there was work to be done.
Add to that, a large, full-service community was coming on line in 6 months, so the turnaround needed to happen immediately. The usual 3-4 move ins per month weren’t happening and with the census challenges and upcoming competition, far more than that was needed immediately.

The Assessment
WMMS was brought in to look at what was going right and wrong. A two-day audit of the internal sales, external referral source sales work and the market conditions revealed some glaring issues that needed attention. An investigation in the community revealed relationship issues and a mis-targeted referral source strategy.

Recommendations
Sales focus, Referral Source focus and Benchmarks for success were immediately recommended. WMMS understands that sales people need to know what it is going to take for them to succeed. But more than that, the community had failed to continue to nurture many of its sales leads. WMMS put a “War Room” together that essentially placed all sales leads in Intensive Care.

Results
Tour and retour activity was the focus – raising productivity in those areas by 50 percent. This, plus a new focus on generating 50 percent leads from qualified referral sources in the local area led the community from floundering at 1 to 2 move-ins average for the past 4 months, to 13 move-ins in the next 60 days. A new external sales person was hired and trained. Results from hard work and focus!

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What Should Sales & Marketing Experts be Acheiving in these Tough Times

As part of Steve Wright's presentation at the NIC Program, he and several leading experts in the industry collaborated on and collected key data on sales and marketing metrics for the assisted living, independent living and CCRC Industries.

Download Results

 

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Your feasibility study tells you what a 5 percent penetration rate is! Big deal. Unfortunately if that is about all it tells you then you are missing today's market dynamics. Read about what you should be looking and asking for in a market analysis.

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