Senior Living Sales: Why Measuring Conversion Metrics Isn’t Working
Sales counselor performance is often judged in an antiquated way against certain industry standard metrics: the number of connects vs. attempts, connect-to-tour ratio, tour to deposit, and deposit to move in.
Why have these metrics been so important?
While they do give us a single dimensional view of the overall ability to complete an activity, they do not paint a meaningful picture—one that allows us to see a repeatable sales process the whole team can follow to increase its overall effectiveness.
That repeatable sales process means everything in today’s competitive landscape. Don’t believe me? Let’s look at the benefits of implementing a sales process that goes well beyond activity-tracking metrics.
Purposeful Interaction vs Meaningless Check-ins
Quantity of interactions doesn’t necessarily translate to effective selling and says nothing about the quality of the interaction. The traditional “checking in” call is ineffective in most cases and certainly doesn’t have any meaningful purpose.
Sure, you can make sales by churning sheer numbers. However, working with only these goals in focus is likely to leave the sales person exhausted and drained by the end of the day/week/month, prompting employee burnout. The senior living industry is so used to basing success on only conversion metrics that it often overlooks the frustration this causes the sales staff.
Instead of metric measurement, a sales process is a set of meaningful, repeatable actions that helps the sales counselor consult with the prospect during their path to residency. A well-built sales process guides the sales person in purposeful conversation and securing future interactions with their prospects.
Whether you meet with 5 or 15 prospects a week, you haven’t made meaningful progress if you don’t have a commitment from the prospect for future action. Connecting with more and more people each week is likely to produce a deposit based on sheer probability, but who really wants to work that way? The reality is that if you focus on the quality of the interaction as opposed to the quantity, your numbers will be there anyway.
Coaching vs Measuring
By implementing a repeatable sales process and holding the sales team accountable for moving prospects through these steps, managers can quickly begin to evaluate and measure each stage of the process independently.
You can discover where sales people excel or struggle in guiding their prospects to residency. You’ll be able to have more strategic conversations about why a prospect is stuck and how to work with them individually to overcome those obstacles. As a sales manager, you can then coach your team on sales process “step effectiveness,” as opposed to filling a connect or tour quota.
Intrigued? Want to learn more? Register for our webinar on April 26: Sales Process vs. Conversion Metrics. Which is More Important?
Kristin Hambleton is the VP of Business Development with Continuum CRM, a fully configurable sales & marketing software tool that improves the effectiveness of the team. More than just activity tracking, Continuum CRM includes email marketing functionality, document management and storage, and a fully configurable workflow manager that gives you the freedom to implement sales processes that align with your organization’s sales culture. Learn more »