Facilitating an effective sales meeting requires analysis of both Leading and Lagging Key Performance Indicators (KPIs). Sales Managers at all levels, from the community to regional (and above), often spend more time examining lagging indicators and not enough time digging into leading indicators.
To improve the effectiveness of sales meetings, managers should include these KPIs.
Reviewing the completed activities and trends can be helpful in identifying barriers, which can be a learning exercise. In senior living, managers should examine:
- Completed activities vs. standards– quality & quantity (were activity goals achieved?)
- Conversion ratios – trending up or down (is the sales process improving?)
- Results – new leads, deposits, advances, and referrals (is sales activity turning into sales results?)
- Market rate comparison to actual rate (impact of sales results to revenue)
Examining the sales plan for the week and month is useful in understanding the future opportunity. In senior living, managers should examine:
- Scheduled activities vs. standards – quality & quantity of planned sales activities including;
- Scheduled Tours & Re-tours
- Scheduled Assessments
- Scheduled Sales Calls/ External Business Development – both hunting and farming (finding new accounts & cultivating existing accounts)
- Scheduled Events
- Scheduled Call Outs & Lead Follow up/ Nurturing
Spending sales meetings and occupancy calls primarily focused on the “Rearview Mirror” results in re-hashing information that is already documented in various reports and the CRM is less productive and forward than engaging in “Windshield” strategic conversations. Learn from sales history and grow occupancy from solid sales planning. Like driving a car, it’s hard to go forward with your eyes looking behind! Start looking ahead, check the review mirror occasionally and hit the gas!
Has your sales team spent a lot of time looking in the review mirror? Let’s Chat