Sales Activities that Produce Outcomes
David Smith Chairman – Co-Founder Sherpa Developer – Principal The Gatesworth
Your Headline Here
Sales Funnel Analysis Top Performers
Industry Averages
Source: Sherpa Database
Source: Mullen Summit
100
Leads
100
45
Tours
55
22%
41%
10 10
23
Move Ins
Sherpa’a Average Visit to Move In Conversion Ratios
Identify activities that drive & predict results: 2016 – Sherpa/ProMatura. Allocation of Time in The Selling Zone®, impact of photos & ED involvement. 2018 - Sherpa Internal. Impact of completed Sales Activities: Home Visits, Journaling, Planning & Creative Follow Up 2019 – ASHA, ProMatura, Sherpa. Expand analysis with segmentation of performance results by market, community size, care level, resident & sales counselor information.
Key Findings ProMatura-Sherpa & Internal Sherpa Studies The following factors drive & help predict sales results: 1. More Time in The Selling Zone® 2. More Time per Lead Worked (Home Visits & Journaling) 3. More Planning & personalized Creative Follow Up 4. Direct involvement of ED in “Sales” 5. More Prospect photos in sales journals
Impact of Time per Prospect Worked
Time in The Selling ZoneÂŽ
Average Hours in The Selling ZoneÂŽ per prospect that moved in
10
20
AL
IL Rental Source Sherpa 2016
Sherpa Top Performers How Many Hours in The Selling Zone per day per Counselor?
8 Hours Worked
4 Time in the Selling ZoneÂŽ
Source Sherpa 2016
Options to Increase Time in The Selling ZoneÂŽ per Lead Your Headline Here
Delegate non-sales activities Minimize size of Lead Base Add additional sales staff
Key Findings ProMatura-Sherpa & Internal Sherpa Studies The following factors drive and help predict sales performance results: 1. More Time in The Selling Zone®
2. More Time per Lead Worked – HV & Journaling 3. More Planning & personalized Creative Follow Up
4. Direct involvement of ED in “Sales” 5. More Prospect photos in sales journals
Hunting for Urgency
Cultivating Readiness
Micro-Metrics (or, why “how many” is not enough)
?
Each Interaction
Presence of at least 1 Home Visit Proportion of Prospects to Move-In by Home Visit Status 120
100
80
69.2
51.9
60
40
27.6
20
0 No Home Visit
Initial Home Visit Move-In
Total
Repeat Home Visit
Measuring Empathy and Connection
Source: Sherpa Database
Empathy and Connection at work Which Community Has Higher Conversions?
Source: Sherpa database
Impact of Journaling Discovery on Sales Outcomes
Key Findings ProMatura-Sherpa & Internal Sherpa Studies
The following factors drive and help predict sales performance results: 1. More Time in The Selling Zone® 2. More Time per Lead Worked (Home Visits & Journaling)
3. More Planning & Creative Follow Up 4. Direct involvement of ED in “Sales” 5. More Prospect photos in sales journals
Time in the and Move InsSelling ZoneÂŽ
Allocation for Best Sherpa Performers
Presence of at least 1 Planning Activity
Source: Sherpa Data 2017-2019, mix of IL/AL/MC combined, 400,000 Active Prospects
Presence of at least 1 Creative Follow UP Proportion of Prospect to Move-In by presence of Creative Follow Up 100.00%
75.00%
50.00%
37.29%
21.93% 25.00%
0.00% No CFU
CFU Move In
Total
Key Findings ProMatura-Sherpa & Internal Sherpa Studies The following factors drive and help predict sales performance results: 1. More Time in The Selling Zone®
2. More Time per Lead Worked (Home Visits & Journaling) 3. More Planning & personalized Creative Follow Up
4. Direct involvement of ED in “Sales” 5.
More Prospect photos in sales journals
Executive Director Involved in Sales
39% Lowest Performers
88%
Highest Performers 0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Source: Promatura/Sherpa 2015
Key Findings ProMatura-Sherpa & Internal Sherpa Studies The following factors drive and help predict sales performance results: 1. More Time in The Selling Zone® 2. More Time per Lead Worked (Home Visits & Journaling) 3. More Planning & personalized Creative Follow Up
4. Direct involvement of ED in “Sales”
5. More Prospect photos in journals
Prospect Profile Pictures
Percent of leads with a Picture
Lowest Performers
7%
Highest Performers
18%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
Source: Promatura/Sherpa 2015
Jason Rock Allegro Senior Living Vice President – Senior Director of Sales
Operator Perspective • Why did we change our CRM & Sales Model? • 3 Strategies: Successful launch in 12 months • Sustainability and Recent Success
Allegro Senior Living, LLC 212 S. Central Avenue Suite 301 St. Louis, Missouri 63105 (314) 512-8511
Develop/Own/Operate 27 communities - 8 states. Price leader in majority of markets. Rental Type – No Buy-in required. • Active Adult • Independent Living • Assisted Living • Memory Care
Allegro Pre-Conversion
Company evaluation for right fit CRM that complements a Sales methodology‌
Allegro Pre-Conversion • Language change HOT WARM COLD…? DEPOSIT vs. SALE? • Previous Sales Model – Professional Selling Skills (PSS) • Previous CRM – Multifamily Platform. • Reduce Barriers to focus on BEHAVIOR change.
(Strategy 1 of 3) Preparing expectations; how it will be different, and how it will feel awkward.
3 audiences: 1. Launch Group of Sales Leaders to roll out new approach. 2. Sales Advisors in the field. 3. Senior Leadership/Owners/3rd Party Investors •
Anticipate the questions “How many leads targeted this week for 4 more move-ins this month?”…
How well do we know our Prospects? • Are there photos + full case study? • Do we plan before we TALK or WALK with them? • How personalized or creative is our follow up(CFU)? • How much time do you spend with any given prospect in a month? • Are we assessing our prospects for readiness? • What can we do to maximize time in the selling zone (TSZ)?
(Strategy 2 of 3) Maintain a learning culture, customize how
you want your data presented.
• Senior Leaders Must Participate…ED to sustain.
• Questions will come as you leave your comfort zone. • Example: stop being gracious in entering all leads. • Continuous, recurring education & training. o Bell Curve 1/3 At the 6 month mark Allegro celebrated 8% increase in our Visit to Move-in conversions companywide. (Keeping score with CRM).
(Strategy 3 of 3) Monitor & Coach how the time spent can predict outcomes. • • • • • • •
Monitor at how we spend our time each day, per week. “We are all part of operations”. (Operations = Sales) Not until they are “needing” help…will they embrace. Easy reference manual. Reoccurring weekly trainings. 1:1 training performed onsite with AVP Sales. Model planning session for the ED • Assign creative follow up with other dept. heads. • Ask those questions we need to find out more to complete a profile. • Set goals opposite of volume and velocity. Examples…
(Strategy 3 of 3) Monitor & Coach how the time spent can predict outcomes.
Allegro at 34 months into new model and CRM • Improved closing ratios by 50% - more efficiency. • Working with 50% less leads than prior CRM. • Continuous Education for all audiences. • Different conversations with associates for outcomes
(Strategy 3 of 3) Monitor & Coach how the time spent can predict outcomes.
2019 – Allegro Case Study 132 units of AL/MC • 8 months of data (July 2018 – February 2019) • Benchmarks Met – TSZ per person and >50% Know Thy Leads Knowledge. • Increased our “Planning Sessions” 16% (research, discussion, thoughtful planning) • “Advances” increased 32% (agree to visit, agree to assessment, trust breakthrough)
• Occupancy went from 80% to 94% (NET + 19 units)
We have little evidence of what really works
We don’t know that which we don’t measure
The ASHA/SHERPA Study Goal The overarching goal of the proposed research program is to increase the effectiveness of the sales program, management and counselors in all sectors of the agequalified, service-enriched housing industry.
Data from Inquiry to Resolution
Prospect Status – All Care Levels 0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
Lost Lead
33.3%
Future
9.1%
Resident
7.7%
2.1%
On Deck
1.4%
Depositor
1.3%
Pending Move-In
45.0%
50.0%
44.8%
Active
Former Resident
40.0%
0.2%
Prospect Status – All Care Levels Prospect Status 0.0%
10.0%
20.0%
30.0%
40.0%
Lost Lead
Minutes Hours 95
2
104
1.7
114
1.9
427
7.1
373
6.2
44.8%
Active
33.3%
Future
9.1%
Resident
Former Resident
50.0%
7.7%
2.1%
On Deck
1.4%
50
0.8
Depositor
1.3%
368
6.1
654
10.9
Pending Move-In
0.2%
The ASHA/SHERPA Study Step 1 – Analyze 12 Months of Data
• Sherpa prospects info • Sherpa sales process documentation
• Sherpa outcomes 327,357 sales prospects
The ASHA/SHERPA Study Step 2 – Capture additional data • Community details - 773 from 138 companies • Market area information including competition • Resident details (New move-ins) • Sales management • Sales counselors information
Sales Management • Who manages sales and background information on this person • How prospects are assigned to counselors • How sales counselors are compensated • Bonus program • Sales management process
Analysis with outcomes
Sales Counselors • Demographic, psychographic, economic • Work history and experience • Knowledge about the product • Level of comfort with the product and confidence in the product
• Years of experience • Perceptions and attitudes toward prospects, sales process • Perception and beliefs relative to process, and compensation
Analysis with outcomes
It’s not a numbers play
It’s time spent. • Number of call outs – negative impact • Time on calls – increase in occupancy • Number of tours – negative impact • Time spent in tours – increase in occupancy
Prospect Status by Source of Lead Dissection
Total Referrals by Source and Status of Prospect
Prospect Status by Source of Lead Referral Source Referral Agency Other Professional Hospital - Acute Skilled Nursing Facility Other Senior Living Home Health Hospital - Rehab Physician Association Geriatric Case Managers Senior Apartments Senior Center Hospice Attorney Religious Organization Real Estate Adult Day Center Financial Advisor Moving Company
n
Active
Deposit
Former Resident
Future
Lost Lead
On Deck
Pending Move-In
Resident
85,845 6,629 5,846 3,261 2,942 1,121 1,095 802 778 616 331 329 307 221 217 202 113 96 10
29% 31% 33% 29% 31% 30% 22% 28% 33% 25% 40% 45% 26% 24% 42% 45% 25% 30% 20%
0% 1% 0% 4% 2% 2% 1% 1% 3% 2% 5% 3% 1% 3% 4% 1% 1% 3% 0%
1% 3% 3% 9% 5% 7% 10% 6% 6% 6% 3% 3% 11% 6% 3% 1% 10% 4% 20%
7% 7% 1% 3% 5% 5% 4% 5% 7% 4% 8% 11% 3% 4% 9% 13% 3% 14% 0%
57% 48% 30% 35% 38% 40% 47% 38% 37% 38% 27% 26% 42% 38% 31% 30% 39% 40% 30%
2% 0% 0% 0% 0% 1% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0% 0% 0% 1% 0% 0% 0% 0% 0% 0% 0% 1% 0%
3% 9% 33% 20% 18% 16% 15% 21% 13% 24% 17% 13% 16% 26% 12% 9% 23% 8% 30%
Conversion Ratio by Source of Lead Referral Source Hospital - Acute Moving Company Attorney Geriatric Case Managers Adult Day Center Physician Skilled Nursing Facility Other Senior Living Community Senior Apartments Hospice Home Health Hospital - Rehab Association Senior Center Religious Organization Other Professional Real Estate Financial Advisor Referral Agency Total
Percent of Time Conversion Ratio 9% 0% 0% 1% 0% 1% 5% 4% 0% 0% 1% 1% 1% 0% 0% 7% 0% 0% 68% 100%
33% 30% 26% 24% 23% 21% 20% 18% 17% 16% 16% 15% 13% 13% 12% 9% 9% 8% 3%
Source by Residents, Sales and Time in Sales Source
Residents
Sales
Time
Referral Agency
2623
35%
68%
All Other Sources
4790
65%
32%
Total
7413
100%
100%
Edie Smith ProMatura Group, LLC Executive Vice President & Director of Research
Prospect Status by Source of Lead Dissection
Total Referrals by Source and Status of Prospect
Prospect Status by Source of Lead Source of Lead Professional Referral Internet Company Website Other Direct Mail Family/ Friend Event Advertising - Print Drive By/ Signage Resident/Member Employee Referral Unknown Advertising - TV Public Relations Advertising - Radio Billboard
n 111,634 32,244 17,435 10,808 10,123 9,073 6,938 6,263 5,565 4,932 1,963 1,505 509 343 316 120
Lost Lead Resident 53% 57% 48% 45% 29% 29% 27% 35% 35% 24% 45% 23% 36% 22% 30% 33%
7% 4% 3% 8% 1% 12% 2% 5% 12% 15% 13% 7% 6% 15% 9% 10%
Pending Deposit Move-In 0% 0% 0% 0% 0% 0% 0% 0% 0% 1% 0% 0% 0% 0% 0% 1%
1% 1% 1% 1% 1% 3% 1% 3% 2% 4% 2% 1% 1% 3% 3% 1%
Active
On Deck
Future
Former Resident
29% 29% 31% 26% 48% 37% 49% 41% 34% 38% 25% 53% 48% 36% 39% 45%
2% 0% 5% 0% 0% 0% 0% 0% 0% 0% 1% 0% 0% 0% 0% 0%
7% 8% 11% 16% 21% 14% 21% 15% 12% 15% 9% 14% 8% 20% 18% 8%
2% 1% 1% 4% 0% 4% 0% 2% 5% 3% 4% 1% 0% 4% 1% 3%
Conversion Ratio by Source of Lead Source of Lead Public Relations Resident/Member Employee Referral Drive By/ Signage Family/ Friend Billboard Advertising - Radio Other Professional Referral Unknown Advertising - TV Advertising - Print Internet Company Website Event Direct Mail
Percent of Time Conversion Ratio 0% 2% 1% 3% 4% 0% 0% 5% 51% 1% 0% 3% 14% 7% 3% 5%
15% 15% 13% 12% 12% 10% 9% 8% 7% 7% 6% 5% 4% 3% 2% 1%
Total Referrals by Source Status of Prospectof Lead Prospect Status byand Source Professional Referrals Only Professional Referral Source Referral Agency Other Professional Hospital - Acute Skilled Nursing Facility Other Senior Living Home Health Hospital - Rehab Physician Association Geriatric Case Managers Senior Apartments Senior Center Hospice Attorney Religious Organization Real Estate Adult Day Center Financial Advisor Moving Company
n 85,845 6,629 5,846 3,261 2,942 1,121 1,095 802 778 616 331 329 307 221 217 202 113 96 10
Lost Lead Resident 57% 48% 30% 35% 38% 40% 47% 38% 37% 38% 27% 26% 42% 38% 31% 30% 39% 40% 30%
3% 9% 33% 20% 18% 16% 15% 21% 13% 24% 17% 13% 16% 26% 12% 9% 23% 8% 30%
Pending Deposit Move-In 0% 0% 0% 1% 0% 0% 0% 4% 0% 2% 0% 2% 0% 1% 0% 1% 0% 3% 1% 2% 0% 5% 0% 3% 0% 1% 0% 3% 0% 4% 0% 1% 0% 1% 1% 3% 0% 0%
Active On Deck Future 29% 31% 33% 29% 31% 30% 22% 28% 33% 25% 40% 45% 26% 24% 42% 45% 25% 30% 20%
2% 0% 0% 0% 0% 1% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
7% 7% 1% 3% 5% 5% 4% 5% 7% 4% 8% 11% 3% 4% 9% 13% 3% 14% 0%
Former Resident 1% 3% 3% 9% 5% 7% 10% 6% 6% 6% 3% 3% 11% 6% 3% 1% 10% 4% 20%
Conversion Ratio by Source of Lead Professional Referrals Only Professional Referral Source Hospital – Acute Moving Company Attorney Geriatric Case Managers Adult Day Center Physician Skilled Nursing Facility Other Senior Living Community Senior Apartments Hospice Home Health Hospital - Rehab Association Senior Center Religious Organization Other Professional Real Estate Financial Advisor Referral Agency Total
Percent of Time Conversion Ratio 9% 0% 0% 1% 0% 1% 5% 4% 0% 0% 1% 1% 1% 0% 0% 7% 0% 0% 68% 100%
33% 30% 26% 24% 23% 21% 20% 18% 17% 16% 16% 15% 13% 13% 12% 9% 9% 8% 3%
Source by Residents, Sales and Time in Sales Professional Referrals Only Source
Residents
Sales
Time
Referral Agency
2623
35%
68%
All Other Professional Referrals
4790
65%
32%
Total
7413
100%
100%