Zero Lost Revenue Days - PARTICIPANT WORKBOOK

Zero Lost Revenue Days - PARTICIPANT WORKBOOK

Zero Lost Revenue Days - PARTICIPANT WORKBOOK

Senior Housing & Healthcare Sales Training Zero Lost Revenue Days PARTICIPANT WORKBOOK © A REVOLUTIONARY APPROACH TO SELLING SENIOR HOUSING & HEALTH CARE

Zero Lost Revenue Days - PARTICIPANT WORKBOOK

Traci Bild and Company. All rights reserved. No part of this book may be reproduced or transmitted in any form or by any information storage and-retrieval system without the express, written permission from the owner. Brief passages (not to exceed 400 words) may be quoted for reviews. Content may be used to improve sales results by individuals working within their sales system. Copyright 2011, Traci Bild and Company.

This publication is designed to provide accurate and authoritative information in regards to the matter covered. It is printed with the understanding that the author and owner is not engaged in rendering legal advice, accounting, or other services. If legal advice or other expert assistance is required, the services of a competent professional should be sought.

Published by: Traci Bild and Company 3608 Shady Lane Palm Harbor, FL 34683 800.640.0688 office 800.640.0688 fax tbild@tracibild.com

Zero Lost Revenue Days - PARTICIPANT WORKBOOK

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 1 | P a g e A Message from Traci Bild The sales side of our business is in dire need of radical change. While the systems I’ve researched and devised here may seem rudimentary to some (those who think they are already doing what I teach—yet are not), these systems are the change that is needed to transform the way people perceive our industry. The better experience people have when calling or visiting our communities, the more positive words they will have to say about us.

What I do know is we cannot continue to do business as usual. Those who keep doing what they have always done won’t even keep getting what they’ve always got—they will be in deep financial trouble. Change is not optional; it’s necessary for survival. I am honored that you are experiencing this training. I ask that you now choose to begin bringing change to your community or organization as a whole. Working within the Seniors Housing industry has been the greatest honor in my professional life. Every day I am surrounded by people who want to make a difference and that is empowering. I hope that through the words written on these pages, I can make a difference in your life and those you touch every day.

Thank You and Good Luck! Traci Bild

Zero Lost Revenue Days - PARTICIPANT WORKBOOK

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 2 | P a g e Table of Contents ZERO Lost Revenue Days Systems . 3 Eliminating the Mismanaged Call . 4 Re-Inventing the Inquiry System . 6 Revitalizing the Tour System . 11 Improving the Closing Ratio . 14 The BILD 5-Step Phone Follow-Up System . 21 Driving Occupancy to Record Levels . 29 Work Smart Guidelines . 30 Appendix A Approaches to Common Objections . 33 Appendix B Connection Sheets . 37

Zero Lost Revenue Days - PARTICIPANT WORKBOOK

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 3 | P a g e Overview 1 ZERO Lost Revenue Days Systems 1.

Eliminate Mismanaged Calls and Capture Lost Business using a Profitable Call Management System 2. Re-Invent the Inquiry System & Convert 75% of All Inquiries Into an On-Site Visit. 3. Revolutionize the Visit System & Create a Memorable Personal Experience that Results in Sales. 4. Fuel your follow up with a Follow Up and Close System that puts you ahead of the competition.

WIIFM (What’s In It for Me?) 100% occupancy increases your income as a sales counselor and strengthens the business for everyone—employees and customers alike.

Zero Lost Revenue Days - PARTICIPANT WORKBOOK

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 4 | P a g e The Call Management System 2 Eliminating the Mismanaged Call 1. Create a sales-centered culture where the customer is the priority. 2. Create a back-up team hierarchy, three deep for each day of the week and weekends. This requires creativity but its well worth the effort since it results in captured leads. 3. Train those in the back-up team to use the Inquiry System.

4. Measure results to make sure the system is working the way it should. The Facts ƒ Eliminating mismanaged calls can capture as much as 40% more business.

ƒ The closer a community is to full occupancy; the more likely they are to mismanage calls. ƒ A lack of a clear system for handling inquiry calls is to blame. The Solution ƒ Create, train, and measure a back up team.

Zero Lost Revenue Days - PARTICIPANT WORKBOOK

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 5 | P a g e Sample Back-Up Team Chart

Zero Lost Revenue Days - PARTICIPANT WORKBOOK

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 6 | P a g e The Inquiry System 3 Re-Inventing the Inquiry System 1. Engage—Get them to accept the call. 2. Identify Needs—Using the Inquiry Connection Sheets.

3. Match Needs—Match factual information, stories, and examples to prove you can meet their needs. 4. Close—Repeat needs and ask for an appointment using options. He who asks the questions is in control of the conversation. ~ Anonymous Engage Respond to their request for information, then ask if you can ask questions: I would be more than happy to . Do you mind if I ask you a few quick questions about _ ?

Identify Needs Use the Inquiry Connection Sheets. Use follow-on questions and clean language to clarify needs.

Zero Lost Revenue Days - PARTICIPANT WORKBOOK

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 7 | P a g e Match Needs Apply stories, examples, and information to their needs to demonstrate the value they seek. Close for the Appointment Repeat needs back and use the options close to set an appointment. Practice—Measuring Your Inquiry Conversions Create a Personal Sales Baseline Answer the questions below. Put your numbers into the right column. 1. How many inquiry calls did you personally handle in the past 30 days? 2.

How many visits have you scheduled in the past 30 days?

3. Turn your 30 day average into a percentage: _ _ visits (2 _ _ calls (1 % conversion rate % If you increased your conversion rate (number of inquiry calls you turn into appointments) by 10%, how many more appointments would you have each month? % conversion rate X 10 ( increase in visits/mo.)

Zero Lost Revenue Days - PARTICIPANT WORKBOOK

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 8 | P a g e

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 9 | P a g e

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 10 | P a g e Notes:

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 11 | P a g e The Visit System 4 Revitalizing the Tour System 1. Pre-plan their visit PRIOR to them showing up. 2. Customize the visit to match their needs. 3. Answer questions and ask follow-on questions for clarity. 4. Use The Scale to gauge closing potential. 5. Close for the next step or the check, using options. 6. Schedule the Next Action step. 1. Pre-Plan the Visit Use the Inquiry Connection Sheet: Adult Child. Check their appointment priorities and think about how to demonstrate value for those priorities. 2. Customize the Visit Match the tour to their needs.

Schedule appointments with residents and employees who can speak positively about the prospect’s priorities.

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 12 | P a g e 3. Answer Questions Selling is asking and answering questions honestly—not talking endlessly about benefits. If you don’t have a yoga program, say so! Then ask, “Is a yoga program something you’re wanting, or were you just curious?” 4. Use the Scale to Gauge Interest Mrs. Smith, on a scale of 1-10, with 10 being the highest, what’s your level of interest in our community right now? What would make it a 10? Practice—What Would Make It a 10?

Brainstorm ways you could address the following typical prospect responses when you ask “What would make it a 10?” • I just need more time to think about it.

We just started our search this week. There is nothing you personally can do. • I have noticed that people are just sitting around. I am looking for more of an active lifestyle. • I really want a two bedroom and all you have is a one bedroom.

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 13 | P a g e Close for the Appointment Closing is not a single event at the end of a presentation. It is a process of going through their needs, pointing out how your community matches their needs, then asking them to make a choice between two options. Schedule the Next Step Scheduling the next step makes follow-up a breeze! Use these phrases or create your own! • What would you like me to do next to make sure that happens? • What is the best way for me to get you that information? • Would you like that by email or regular mail?

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 14 | P a g e The Follow Up and Close System 5 Improving the Closing Ratio 1. Have a 30-day follow-up plan. 2. Use the Follow-Up Connection Sheets. 3. Use the BILD 5-Step Phone System to make follow-up calls. The Problem • 90% of salespeople have given up on making follow up calls after the 4th attempt, yet data shows that peple make decisions between the 5th and 12th follow up call. • The time from the first visit to the first follow-up call is typically 7 days. • The second call—if it happens at all—is typically another 10 to 14 days.

That’s as much as 17 to 21 days from the visit.

• The third call or follow up task is usually another 30 days—or as much as 50 days from the first visit for just 3 follow up calls! This situation creates erosion of memory. Prospects simply can’t keep you in mind when your follow-up calls are sparse. The Solution Measure your follow up call performance and adopt a rigorous call-back plan.

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 15 | P a g e Practice—Measuring Your Follow-Up Effectiveness Follow-up self analysis: Create a snapshot of your follow-up patterns. Fill in the data requested in the chart below.

Number of visits you’ve conducted in the past 30 days _ _ Name of each person who visited: Date (approx) of visit: Number of follow- up calls made: Check if closed Check if still following up Check if you need to repair and recover 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14.

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 16 | P a g e 30-Day Follow-Up Plan Detail

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ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 20 | P a g e Notes:

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 21 | P a g e The BILD 5-Step Phone Follow-Up System 1. The Opening 2. Disarming 3. The Reason 4. Needs Analysis & Check Question 5. Checkmate Close Step 1: Phone Follow-Up System—The Opening Your objective is to obtain a simple response. The form of the question is: Hi, is Mrs. Smith in? (This is she.) Hi, Mrs. Smith. This is Traci Bild. Tips for Successful Call Openings • It is critical that you identify yourself by both first and last names. • Do not tell them the name of the company you are with until the Reason Step.

• Be certain that you use the word CALLING after your name or you will not get a “yes” response.

• You must PAUSE after the word calling. If you don’t, how can the prospect possibly say “Yes?” If you find it difficult to pause, count to three silently, then move on. • Never ask, “How are you?” This is one time when a question will take you out of control of a call. If the prospect first says, “How are you?” simply reply positively and move on to the next step.

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 22 | P a g e Step 2: Phone Follow-Up System—Disarming First, gain Agreement using I understand… or If you recall… • I understand that you’re a friend of Sally Mae Smiths? • I understand your mother is being discharged from Halifax Medical Center on Friday? • If you recall, you asked me to call you back this week in regards to scheduling a tour of The Meadows? • If you recall, we met at our Spa Day here at Whispering Oaks? Second, ask for time to talk: • Did I catch you at a good time? • Is this a convenient time to talk? Step 3: Phone Follow-Up System—The Reason The Reason consists of both a statement and a question that tells the prospect who you’re with and why you’re calling.

The reason I’m calling is . I wondered if I could ask you a couple quick questions about _ ?

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 23 | P a g e Examples of Reasons You Can Give for Calling Call Back to Book a Tour The reason I’m calling is you had expressed an interest in visiting our community here at Eaglewood and I wondered if I could ask you a few quick questions to see how I can best assist you? Calling a Referral Given to You by a Resident The reason I’m calling is I’m the Community Relations Director here at The Cove Retirement Center where Mabel lives and she had mentioned that you were looking into Independent Living communities and suggested I give you a quick call.

I was wondering if I could ask you a few quick questions to learn a little bit more about what you might be looking for?

Following Up on a Recent Tour The reason I’m calling is I wanted to thank you for coming to take a look at The Pines on Monday, I really enjoyed meeting you and your family. I wondered if I could just ask you a few quick questions about your visit? Aging Lead The reason I’m calling is it’s been some time since we last spoke and I wanted to follow up and see if I could ask you a few quick questions? What NOT to Give as a Reason for Calling: I’m calling to check in.

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 24 | P a g e Practice—Role Play Making a Follow-Up Call (Part 1) Part 1: Opening and Disarming Roles—Working in pairs, decide which of you will play the following roles first.

When the role play is complete, switch roles and role play again. ƒ Sales Counselor ƒ Prospect Instructions: • Sales Counselor chooses one of the following three situations, gets into character, and then makes a call to the Prospect. • Prospect responds “naturally” as a real prospect might respond. • ONLY play the Opening and Disarming portions of the system. Situations: a. You have an inquiry call that came in over the weekend and you need to call back and schedule a tour. All you know is the person’s name and number; nothing else.

b. You have a lead that is close to a year old. You want to follow-up and move the prospect forward in the sales process. c. You are following-up on a tour that took place one to two days ago.

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 25 | P a g e Step 4: Phone Follow-Up System—Needs Analysis Use Follow Up Connection Sheet #1 to further identify needs in an effort to get a deposit or advance the sale another step further along Step 5: Phone Follow-Up System—Checkmate Close 1. Ask Checkmate Questions. 2. Recap the needs. 3. Tell them the next step you’d like them to take.

4. Offer an optional close about that next step. So, based on what you told me it sounds like... (Repeat needs.) The next step is to _ . (Come for a visit, choose an apartment, review finances, etc.) What might work best for you _ _ or _ ?

(Offer an optional close—a choice of two alternative steps.)

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 26 | P a g e Checkmate Question Examples 1. You and I have been speaking for (month, a year, one week, etc.) and I was wondering, what was it that made you call in initially? Start your search? Prompted your first call? Made you decide to walk in that day? 2. In looking to the future, what do you think will be the #1 deciding factor in a community you will choose for (you, your mom, etc)? 3. I know you are not ready to make a decision for another (six months/one year), but can I ask, “What was it that made you decide to begin your search today?” 4.

You mentioned you are just starting your search and are looking to make a move in 1-2 years. Can I ask, what in particular made you decide to call me today?” 5. When we first talked you mentioned that _ was your #1 deciding factor in choosing a community. (Recap to BILD value as to how you have met that need during your visit(s). On a scale of 1-10, how would you rate us as far as _ is concerned? If not a 10: What can we do to make it a “10”?

6. I sense some hesitation (resistance or tension) in moving to the next step in this decision making process. Could I ask you what might be causing this hesitation (resistance or tension)? 7. We’ve been talking for quite some time now (be specific). Recap to BILD value and then ask, “What will it take to help you make a decision to set a move in date today?” 8. Can I ask, now that you’ve visited our community and several others, what is the most important to you in regard to a community’s amenities and services you will ultimately choose?

9. What in particular is holding you back from making a decision to _ _ today?

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 27 | P a g e Using the Checkmate Question with Objections Use this format to open the question after an objection: I completely understand. Do you mind if I ask you a quick question? Or… Before you go, can I ask you one more quick question? Examples of the Checkmate Question with Objections 1. “I’m just not ready:” I completely understand. Do you mind if I ask you a quick question? [Pause.] What will have to change before you’ll feel ready for this move?

2. “I need to talk to my ( son, wife, family member) first.” I understand.

Do you mind if I ask you a quick question? [Pause.] When will you be talking to _ _ next? How do you think _ _ will feel? Would it be helpful to conduct a three way call with you _ _ and myself? 3. “I want to spend one more ( Christmas, birthday, family reunion, etc...) in my home:” Use the “Feel, Felt, Found technique.” I completely understand how you feel, and quite honestly, a lot of our residents felt the same way that you do right now. What they have found is . How will you know you’re ready?

4. “I just don’t think that I can afford it:” I completely understand. Do you mind if I ask you a quick question? [Pause.] Would you like to see some of the ways some of our other residents have gotten financial support? Complete a cost comparison and determine if they qualify for Veterans Benefits or have Long Term Care Insurance, a Life Insurance Settlement or a financial planner they work with or perhaps you can refer one to them. 5. “I need to wait until after my surgery for ” I completely understand. Do you mind if I ask you a quick question? [Pause.] Have you made plans for post surgical care? (For Example: Physical Therapy, Occupational Therapy, Wound Care, etc...)

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 28 | P a g e Practice—Role Play Making a Follow-Up Call (Part 2) Part 2: Full Role Play (All 5 Parts of the Phone System) Roles—Working in NEW pairs (from the previous part of the role play), decide which of you will play the following roles first. When the role play is complete, switch roles and role play again. ƒ Sales Counselor ƒ Prospect Instructions: • Sales Counselor chooses one of the following three situations, gets into character, and then makes a call to the Prospect.

• Prospect responds “naturally” as a real prospect might respond.

• Play ALL five parts of the phone system. Situations: a. You have an inquiry call that came in over the weekend and you need to call back and schedule a tour. All you know is the person’s name and number; nothing else. b. You have a lead that is close to a year old. You want to follow-up and move the prospect forward in the sales process. c. You are following-up on a tour that took place one to two days ago.

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 29 | P a g e The 100% Occupancy System 6 Driving Occupancy to Record Levels 1. Reviewing the Systems that Result in 100% Occupancy 2. Work Smart Guidelines 3. Sales Improvement Checklist The Four Broad Systems in the 100% Occupancy 1. Eliminating Mismanaged Calls 2. Reinventing the Inquiry System 3. Revolutionizing the Tour System 4. Mastering the Follow-Up and Close Systems Which of these systems offers you the greatest opportunity for improvement in your sales efforts? Why?

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 30 | P a g e Work Smart Guidelines Prioritize the follow list of guidelines in terms of the areas you need to work on first, second, third and so on.

A smart Seniors Housing Sales Counselor… Priority Guideline for Success Knows occupancy and the magic number to fill at all times. Works with the back up team to consistently ensure all leads are being captured and stellar service provided. Utilizes 90% or more of the Inquiry Connection Sheet on all phone and walk in inquiries.

Is more interested in understanding the needs of the prospect than sharing how amazing their community is. Is an active listener. Drills down and seeks to learn details about their prospect. Actively closes each call or visit by recapping the conversation and utilizing an Optional Close. Collects two phone numbers and an email as a top priority so follow- up is effective (in total prior to getting off the phone). Has a 50%+ inquiry to appointment conversion when selling CCRC or IL and 75%+ when selling Assisted, Memory Care or SNF.

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 31 | P a g e Priority Guideline for Success (continued) Completes a Visit Planning Sheet on all pre-scheduled appointments and a full Inquiry Connection Sheet on walk ins.

Strives to have a One Extra or Wow Factor on every single visit. Does not overcome objections but instead focuses prospects on what it is they want. Asks for the check (when appropriate) and always schedules a next action step so the prospect knows what to expect. Follows-up aggressively early in the sales process so he or she doesn’t have to work so hard on the back end.

Makes between 20-30 follow-up calls per day. Utilizes the Bild 5-Step Phone System to increase phone out to appointment conversions. Has a visit to move in conversion of 35%+ if a CCRC or IL community and 50%+ if an IL, AL, or SNF community. Has a Zero Lost Revenue Day mindset and understands that the community is at its success peak when full!

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 32 | P a g e Notes:

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 33 | P a g e Appendix A Approaches to Common Objections I’m not ready to make a decision.

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 34 | P a g e Your Price is too high.

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 35 | P a g e I have to sell my home first.

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 36 | P a g e Notes:

ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 37 | P a g e Appendix B Connection Sheets The following sheets are for sample purposes. Please refer to the attached file for maser copies.

Print the master copies on colored paper to mirror the color codes provided in these samples.

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