Starting the New Year off right for the Senior Industry

Attended Buddy Lieberman's (he of "The Buddy Group" networking meetings)-- 3rd Round Table luncheon on the state of our senior industry.

If you missed it, don't panic. As a writer, I took good notes!

Both speakers were from "big players", and both were operations Veeps. What they said was very enlightening--yet I don't think they can relate to the small RCFE's or in home cares--they come from the big corporations.

Never the less, here's what they said:

This will be the year of large acquisitions by the big players. Facility groundbreaking and building of new facilities is pretty much halted due to lack of resources and the economy. However, since it's cheaper to take over properties and insert new management, that's what most of the big boys will do. This is what they called regional buying.

This bodes well for you, the small RCFE's. Your comeback to this thought process should be to explain to the families and the potential residents that you are not changing management or your style. You will be the same, loving caring facility and staff you've always been. And if the client wants personalized service, you are there to provide it--unlike some big corporations.

According to the Veeps, there is still an unmet demand for residents. Either they meant the censuses are down, or residents are not getting what they ask for--that their demands are not being met. (Not sure which, but I suspect the latter).

Residents are staying home longer before they make a decision to move. While it used to take 2-3 months to move, it's now taking 8-12 months.

What does this mean for RCFEs? That you need an extensive marketing campaign that allows you to put people on a waiting list, then cooperate with other B and Cs around you to find people their homes. And don't wait until you have a death, move out to hospice, or some other reason to start to market.

THE TIME TO MARKET IS CONTINUALLY, AT LEAST FOR 4 HOURS PER WEEK!

Finally, they talked about more mental health issues among the senior population. It seems that most of the big boys are moving towards adding more dementia wings in their facilities. So if you, as an RCFE B and C do not deal with dementia--you'd better.

In a nutshell, the gist of the forum was about that, and how people now know what options there are--they're more demanding re: private pay, and what they get for their money.

AND, seniors themselves are taking to the internet as never before, to find information for themselves and other seniors about the choices they will have to make. So last question for this month:

Do you have the following:

• Web site (With interaction, not static)
• Blog
• Facebook Page
• Linked In account
• Twitter account

Are you on all 36 national and local websites that offer FREE uploads and information for you to list your facility?

IF NOT, WHY NOT? CALL US, WE CAN DO THIS FOR YOU!

Top 10 Resolutions for 2010 in Business

© 2009, Reece Franklin, Market Smarts Communications

The end of the year is fast approaching. Don’t wait until after January 1 to plan for 2010, you’re already in it then. Why not get started now and really get going for 2010? Here are 10 ways:

Resolution 1: Know what business you’re really in:

you’re not a service business or a retail business; you’re a marketer of services or products. You’re not a community, per se. You are a “marketer” of “the best (insert your business type) for the money”. Marketing is what you do if you’re a business owner; the product or service is what you deliver. This is the attitude you MUST have.

Resolution 2: Know your customers.

Make sure your database is correctly segmented:

“A” customers – those who’ve bought one or more products or services within the last year.

“B” customers – those who’ve bought within two years.

C Customers – those in the past (over 2 years with no recent purchase history).

D Customers – longer than 3 years. Immediately drop your “D’s”.

Resolution 3: Do a sequential series of direct mailings to your A and B customers.

They’ll receive 3 letters, 14 days apart.

Create a special report that explains something they can use to help them.

A board & care might send a free report on “How to Pick the Best Place for Mom or Dad”.

Letter 1: they call or email you and ask for the Special Report; you send it out with a follow up special letter with a discounted offer.

Letter 2 goes out 14 days later; it alludes to letter 1 and asks them where they’d like you to send that special report.

Letter 3 goes out 14 days after that, so you’ve touched them 3 times in less than 30 days.

Letter 3 tells them you’ll bring it by or mail it right away, they’ve probably been busy. By doing this sequence, you’ll get more than the normal response.

Resolution 4: Target Your Market.

If you’re looking for new prospects and customers, don’t do a shotgun approach—target your market.

Rent a list of people who are prone to buy from you. (When you write your ideal client profile, find a list that mirrors that.

Example: You have clients that regularly pay $500 per service or product—find more of those) You might check with a local or national industry magazine to rent their mailing list in your zip codes.

Resolution 5: Know Your Company.

Before you write that special report, you’d better know what makes you special, so you can put that in the report and sell it to your ideal customers and prospects.

• Make a list of all your products or services.
• Then take 3 x 5 cards, and for each separate product or service, right down one feature of that particular product or service on a card.
• On the back, put the benefit to the customer. (Features are what you do; benefits are what you do for the customers.)

Resolution 6: Find Your USP.

Often called the Unique Selling Proposition, by using the cards in Resolution 5, you should be able to find out what you do that is unique, that your competitors don’t.

It might be you pick up and deliver something unusual. Or it might be you are the only facility with 24-hour van drivers. Now that’s unique.

Resolution 7: Know your competition.

There are two types of competition: direct and indirect.

Direct competitors are those that “do what you do, to the market you do it to.” You own a 6 bed board and care, they do also. Your market niche is small businesses less than 10 employees, they target the same. Those are your direct competitors. And you probably know who they are already.

The indirect competitors: those that don’t necessarily target your buyers directly, but can also offer your services if asked. (Anyone that says “oh, we do that also”. Watch out for these cats!)

Resolution 8: Create a competitor analysis grid.

Using the competitions’ Yellow Pages ads, brochures, sales letters, print ads, and other media, check to see what the competition is offering. Then make an analysis grid like this:

Competitor [Hours Open [Days Open [Guarantees [USP
A -
B -

Make a column for every thing in their ads that they say they offer. You want to find what you can do or offer that they won’t or can’t.

Resolution 9: Create a real powerful Yellow Page and coupon ad

you can use over and over; one that doesn’t look like you copied it from the competition. Have you ever look at the YP ads? They all look the same.

Why not create an ad that truly educates the potential customer? This article is an example.

For a retail store, headline the ad “10 Things you need to know about ….” With the blanks being what it is that will educate the prospect about your business.

Then the ad expanded becomes your special report. For example: 7 things you MUST know before you hire your next termite control company. And you tell them in the ad.

That is so totally different from what you see in the YP, that they’ll beat a path (the customers, not the termites) to your door.

Resolution 10: Really work the room at the Chamber meetings and other networking groups.

For every meeting, target three new companies you currently don’t do business with, then strike up a conversation about what they do. After the meeting, send a thank you card to them, mentioning something you talked about. Then follow up with a call later in the week. You’ll stand out.

Reece Franklin, President of Market Smarts Communications, is the author of 8 books on small business marketing. For a free copy of his special report “73 Ways to Market Your Business”, email him at seniorexpo@roadrunner.com. PO Box 2920, Chino Hills, CA 91709.

OMG, I Cannot Believe the Industry is Not That Well Connected

I recently joined LinkedIn.com to increase my visibility with other businesses. In going through my over 600 business cards (people I've worked with in either Senior Expo from '02 to '08, or people I network with), I cannot believe what I found.

I typed in both the company name and the individual name. Out of almost 200 people, most of whom go to several senior networking meetings per month, less than 7% have a profile on Linked In. That's just 14 people. And these are the community relations reps and the owners, folks.

Many might be on Facebook or Myspace, but those are primarily for college kids, not business people.

For an industry that prides itself on referrals, there's definitely a problem.

How Do You Create a Marketing Plan that Makes Sense?

You start by understanding what you already know and have done. First, you’re going to lie out on paper specific things you know about your customer service program, your current and ideal customer profile, and your company strengths and weaknesses.

Next, you’ll analyze your competition, and their strengths and weaknesses. Then comparing their weaknesses with your strengths, you’ll put down exactly what it is that makes you unique, your difference or what’s better known as your Unique Selling Proposition.

By knowing these facts, you’ll know the correct message to convey to your prospective residents, their influencers (boomer children & others). Finally, after studying the different media and marketing tactics and strategies you can use, you’ll decide what methods to use, and lay them out in a comprehensive 3, 6, 9, and 12 months calendar that you can do over and over again.

What's Happening in Your Senior Facility?

Crazy stuff going on out there right now! Who would've thought that Sunrise, the nation's largest, with 2300 properties in the US, would file for bankruptcy protection. Talked to a regional the other day, he claims they're doing OK, now that they're focusing on their core business. Probably will turn out all right, as long as they don't try a marketing line extension again. (That's when companies like Xerox, known for copiers, try to do computers.)

My advice to the senior industry world: stick with your core competency, and expand it with other offerings, not other products.

In the meantime, why not add a comment about what you're doing in this economy to ramp up your patients, residents, or clients.

http://increaseyourcensus.com/

Reece

How to Really Network at a Senior Industry Meeting

Here's the first of what I hope are MANY information tip sheets for those of you in the industry. We will have our site Senior Industry Update ready toward the first of the year. So here's Tip Sheet #1 - rather long, but VERY important.

1. Define Your Purpose – You must have a plan. You are there to meet other people who can help you gain more & better business. So determine what you want to accomplish with your 1 ½ hours at the meeting.

2. Set a goal for the Meeting – Perhaps a goal can be to talk further with someone you already know, and find out what you can do to help their business. If you give a little, you’ll get a lot.

3. Dress Appropriately – Men should wear a sport coat, slacks, and dress shirt, at the least. Women dress in business attire, pant suit or skirts are very appropriate.

4. Bring Brochures and Business Cards, Are you using them wisely? Many people take cards, but don’t look at them. Do this instead. Keep you business cards available, but ask the person for their card. Then ask permission, as you talk and ask them about their business, to jot a quick note on the back of the card. It should be something that helps you remember them and the conversation. (See # 12).

5. Prepare your 30-second “Pitch” – We are only given about 30 seconds to tell who we are, and what we do. But don’t be boring. Tell the audience why you are unique, not that you are “another in-home care or 6 bed b and c.” Practice your pitch until perfect.

6. Know Why You are Different – There is something special and unique about each of you. Tell the audience why you are special and different. But don’t use cliché’s. We all care for seniors – but why should someone refer your business rather then your neighbors?

7. Stand Up when you introduce yourself –Most of the meetings it’s hard to hear the introductions. Stand up, the air will fill your lungs, and we’ll be able to understand who you are and what you do.

8. Speak Clearly – Don’t mumble. Enunciate clearly. If we can’t hear you, we can’t help.

9. Don’t Be Shy – Some people are painfully shy. Don’t be, we are all friends. You are there to tell people what you do. We can’t help you if you don’t speak to us. And don’t look down.

10. Don’t Beg for Business – So many b & c’s get up and tell people “I need residents, please help.” Begging puts you at a disadvantage. People don’t refer to you out of pity. They refer to you because you are the best one.

11. Meet 3 New People, and Get Their Story – This should be your goal. Write down on the back of their business card a few notes about them that you can use for follow up.

12. Follow Up within 24 hours with a thank you note – Take that info from the back of the card. Hand write a thank you note. Mention something they said to you. When you personalize the note, they will be pleased you remembered something special about them, and they’ll remember you.

My email is: seniorexpo@roadrunner.com