Zero Lost Revenue Days - PARTICIPANT WORKBOOK A REVOLUTIONARY APPROACH TO SELLING SENIOR
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Zero Lost Revenue Days ©
PARTICIPANT WORKBOOK
A REVOLUTIONARY
APPROACH TO
SELLING SENIOR
HOUSING &
HEALTH CARE
Senior Housing & Healthcare Sales Training
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 Workbook 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 © 2011 Bild & Co, All Rights Reserved 1|Page
ZERO Lost Revenue Days Workbook 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 © 2011 Bild & Co, All Rights Reserved 2|Page
ZERO Lost Revenue Days Workbook
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.
© 2011 Bild & Co, All Rights Reserved 3|Page
ZERO Lost Revenue Days Workbook
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
Eliminating mismanaged calls can capture as much as 40% more
business.
The closer a community is to full occupancy; the more likely they are to
mismanage calls.
A lack of a clear system for handling inquiry calls is to blame.
The Solution
Create, train, and measure a back up team.
© 2011 Bild & Co, All Rights Reserved 4|Page
ZERO Lost Revenue Days Workbook Sample Back-Up Team Chart © 2011 Bild & Co, All Rights Reserved 5|Page
ZERO Lost Revenue Days Workbook
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.
© 2011 Bild & Co, All Rights Reserved 6|Page
ZERO Lost Revenue Days Workbook
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.)
© 2011 Bild & Co, All Rights Reserved 7|Page
ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 8|Page
ZERO Lost Revenue Days Workbook © 2011 Bild & Co, All Rights Reserved 9|Page
ZERO Lost Revenue Days Workbook Notes: © 2011 Bild & Co, All Rights Reserved 10 | P a g e
ZERO Lost Revenue Days Workbook
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.
© 2011 Bild & Co, All Rights Reserved 11 | P a g eZERO Lost Revenue Days Workbook
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.
© 2011 Bild & Co, All Rights Reserved 12 | P a g eZERO Lost Revenue Days Workbook
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?
© 2011 Bild & Co, All Rights Reserved 13 | P a g eZERO Lost Revenue Days Workbook
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.
© 2011 Bild & Co, All Rights Reserved 14 | P a g eZERO Lost Revenue Days Workbook
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: ____________
Check if
Number Check if
Date you need
Name of each person of follow- Check if still
(approx) of to repair
who visited: up calls closed following
visit: and
made: up
recover
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
© 2011 Bild & Co, All Rights Reserved 15 | P a g eZERO Lost Revenue Days Workbook 30-Day Follow-Up Plan Detail © 2011 Bild & Co, All Rights Reserved 16 | P a g e
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ZERO Lost Revenue Days Workbook Notes: © 2011 Bild & Co, All Rights Reserved 20 | P a g e
ZERO Lost Revenue Days Workbook
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.
© 2011 Bild & Co, All Rights Reserved 21 | P a g eZERO Lost Revenue Days Workbook
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__________?
© 2011 Bild & Co, All Rights Reserved 22 | P a g eZERO Lost Revenue Days Workbook 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. © 2011 Bild & Co, All Rights Reserved 23 | P a g e
ZERO Lost Revenue Days Workbook
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.
Sales Counselor
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.
© 2011 Bild & Co, All Rights Reserved 24 | P a g eZERO Lost Revenue Days Workbook
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.)
© 2011 Bild & Co, All Rights Reserved 25 | P a g eZERO Lost Revenue Days Workbook
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?
© 2011 Bild & Co, All Rights Reserved 26 | P a g eZERO Lost Revenue Days Workbook
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...)
© 2011 Bild & Co, All Rights Reserved 27 | P a g eZERO Lost Revenue Days Workbook
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.
Sales Counselor
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.
© 2011 Bild & Co, All Rights Reserved 28 | P a g eZERO Lost Revenue Days Workbook
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?
© 2011 Bild & Co, All Rights Reserved 29 | P a g eZERO Lost Revenue Days Workbook
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.
© 2011 Bild & Co, All Rights Reserved 30 | P a g eZERO Lost Revenue Days Workbook
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!
© 2011 Bild & Co, All Rights Reserved 31 | P a g eZERO Lost Revenue Days Workbook Notes: © 2011 Bild & Co, All Rights Reserved 32 | P a g e
ZERO Lost Revenue Days Workbook Appendix A Approaches to Common Objections I’m not ready to make a decision. © 2011 Bild & Co, All Rights Reserved 33 | P a g e
ZERO Lost Revenue Days Workbook Your Price is too high. © 2011 Bild & Co, All Rights Reserved 34 | P a g e
ZERO Lost Revenue Days Workbook I have to sell my home first. © 2011 Bild & Co, All Rights Reserved 35 | P a g e
ZERO Lost Revenue Days Workbook Notes: © 2011 Bild & Co, All Rights Reserved 36 | P a g e
ZERO Lost Revenue Days Workbook 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. © 2011 Bild & Co, All Rights Reserved 37 | P a g e
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