As a former Senior Living VP of Sales & Marketing, I never looked forward to budget planning season…BOOO! It was, however, a great time to review my partnerships with paid referral sources and decide when to add to them, double down, or even pause them. The big question is, where does one start? 

Begin with a thorough analysis to ensure a positive return on investment and alignment with your company’s goals. Here is how I recommend approaching this evaluation, and the solid reasons why a senior living company might benefit from paid move-in referral sources:

1. ROI Analysis

• Cost vs. Revenue: Compare the cost of the referral source to the revenue generated from move-ins. Calculate the cost per move-in and the overall financial impact on the company.

• Conversion Rates: Assess the quality of leads by examining the percentage of referrals that convert into actual move-ins. A higher conversion rate justifies continued or increased spending on that source.

• Lifetime Value of Residents: Consider the long-term financial impact of referred residents, including their average length of stay and the revenue they generate over time.

2. Referral Quality

• Lead Quality: Not all leads are equal. Evaluate which referral sources consistently provide high-quality leads that are a good fit for your communities. This might include assessing the number of referrals that match specific care levels or preferences.

• Retention Rates: Analyze how long residents referred by paid sources tend to stay. Higher retention rates can indicate that these leads are more aligned with your community's offerings and culture.

3. Scalability and Volume

• Lead Volume: If a paid referral source brings in a high volume of leads, especially during low-occupancy periods, it may be a crucial tool to maintain consistent occupancy levels.

• Geographic Reach: Paid referral sources often have access to a wider market, bringing in leads from regions that may not be effectively reached by in-house marketing efforts.

4. Strategic Partnerships and Market Presence

• Brand Visibility: Paid referral partnerships often give senior living companies broader market exposure, increasing the community’s visibility in competitive markets.

• Time and Resource Efficiency: Partnering with referral sources reduces the time and resources needed to generate leads in-house. Referral agencies often have established networks and expertise in targeting the right audience.

5. Occupancy and Stability

• Filling Vacancies Quickly: Paid referral sources can help fill vacancies more quickly, reducing downtime and stabilizing occupancy, which is crucial for cash flow and financial health.

• Market Saturation: In highly competitive markets, relying on paid referral sources can give a senior living community an edge, helping to capture more leads and maintain a steady flow of residents.

Reasons to Maintain or Increase Paid Referral Sources:

1. Access to Broader Networks: Referral agencies often have a large database of families actively seeking senior living options, which a community may not be able to reach on its own.

2. Expertise in Senior Living: These sources specialize in the senior living industry, meaning they can often pre-qualify and match potential residents to the right type of care, saving time and increasing conversion rates.

3. Reduction in Marketing Burden: Paid referral sources help reduce the in-house marketing workload, allowing the community’s team to focus on other strategic initiatives like resident care and community engagement.

4. Performance Tracking: Most paid referral services provide performance analytics, allowing the community to track lead sources, conversion rates, and other KPIs, which helps optimize spending for the future.

Evaluating referral sources during budget season requires analyzing both quantitative metrics like ROI and qualitative aspects like lead quality. Paid referral sources are especially valuable for maintaining occupancy, expanding market reach, and providing qualified leads in competitive or underserved regions.

When I worked as a traveling sales specialist in retirement communities, one of my key strategies was always to have "Activity Tour Boxes" ready at the front desk. Typically, I’d have three or four boxes prepped and tailored for different levels of care and whether it would be small or large groups. 

To create these, I collaborated closely with the activities director and involved residents to brainstorm fun and engaging activities. This ensured that, whether we had a scheduled tour or an unexpected walk-in, we were always ready to offer a lively, welcoming experience.

Putting our best foot forward in our community was crucial, especially when tours arrived with little notice. We faced situations where prospective residents or families would show up within 30 minutes and if there wasn’t a scheduled activity, we’d turn to our Activity Boxes. These contained quick, fun ideas like:

• Trivia cards

• Inflatable beach balls to use with music for exercise 

• “Pin the Microphone on Elvis” 

• Craft kits for bracelet-making

Having a process in place and getting the staff involved made these spontaneous moments exciting for everyone, including employees.

Just like we invest time and money preparing model apartments to showcase to future residents, it’s equally important to showcase the vibrant community life through engaging activities. Pre-planning for scheduled tours is a given, but extending that same thoughtfulness to walk-ins can make all the difference — especially as more walk-in tours return post-COVID. With some preparation and enthusiasm, we can turn quick, unexpected tours into memorable experiences that convert into future residents. After all, big smiles can lead to big conversions!

When it comes to community management, every second matters regarding speed to lead. Drawing from my years of experience leading community teams, here are some effective strategies to enhance your responsiveness:

• Read While Ringing: Utilize the time while the phone is ringing to review the referral details. Sales directors should familiarize themselves with referral email templates to more quickly identify key information, such as the referrer’s name, level of care needed, timeline, and budget. This preparation allows for a more efficient and targeted conversation, helping to start the dialogue successfully. When you delay this initial touchpoint to review and respond to the referral source, you may lose the referral to other communities that reached out more quickly. 

• Effective Team Collaboration: Many communities implement "tour trees" to ensure coverage when team members are out or busy. This same principle can and should be used with lead management. It’s important to establish clear protocols for handling leads during PTO or weekends. Make sure you encourage your team to collaborate rather than compete — multiple contacts from different team members can strengthen the relationship with the lead. Remember, a team approach often yields better results than relying on a single sales director.

• Cross-Community Support: When managing multiple communities, consider how they can support each other. For instance, if a high-occupancy community is near a lower-occupancy one, the sales team from the less busy community can handle incoming calls for the busier one, allowing the other team to focus on on-site visits and hospital referrals.

• Timeliness in Communication: Speed to lead isn’t confined to sales calls. Aim to contact leads within 15 minutes for sales calls and within 2 hours for operational inquiries, ensuring that both sales and operations touch base with the families promptly.

• Leverage Technology: Ensure that your referral emails are optimized for quick response. Set up text alerts and email notifications, and flag referrals in your email system to prioritize them. Collaborate with tech support to fully utilize all available tools to enhance speed to lead.

• Marketing Automation: Work with your marketing team to automate the distribution of essential information such as meal menus, activity calendars, and floor plans. This ensures that these important details reach leads quickly, which can increase the likelihood of engagement.

• Centralized Intake Support: In some regions, implementing a call center for intake can significantly boost conversion rates. A central intake person can efficiently manage both paid referrals and website inquiries, providing a cost-effective solution to enhance lead management.

• Engage with Referral Sources: Regularly consult with your referral sources to understand what’s working and stay updated on new technologies or marketing processes.

By adopting these strategies, you can enhance your team’s responsiveness and effectiveness, ensuring that every lead is managed with the urgency and attention it deserves.

So, you got the green light to attend a senior living conference — now what? 

After attending many state and local conferences as both an attendee and a vendor, I’ve put together key areas to help you plan your trip for maximum success. Whether it’s engaging with vendors, learning from industry experts, or networking with peers, these strategies will ensure you leave the conference with valuable connections and information benefiting both you and your team.

1. Meeting with 3rd-Party Providers

• Research in Advance: Identify key third-party providers and schedule meetings before the event. Are the people and providers you want to meet with attending? Don't hesitate to reach out before the conference to schedule a time to chat with them while you're there.

• Prepare Talking Points: Focus on what you need — partnership opportunities, product demos, or specific solutions. Conferences can have very packed schedules so planning your conversation points can help you maximize your time.

• Follow-Up Strategy: Collect contact information and plan post-conference follow-ups to keep conversations going. Emails to connections you made at the conference can help keep conversations flowing.

2. Selecting Speakers to Listen To

• Review the Agenda: Prioritize speakers that align with your growth goals and interests in the senior living industry. Most conferences post their agendas beforehand, so you can pre-plan which events to attend while you’re there.

• Balance Learning and Networking: Attend several critical sessions each day to stay informed without overloading your schedule. You'll want to save time each day to walk around and chat with other attendees.

3. Engage With The Conference:

• Use Social Media: Make sure you share your experience on social media. Many conferences have their own hashtag so you can engage in conversations online with other conference attendees and expand the reach of your participation.

• Take Pictures: Have you and your team take pictures while you're at the conference to share online during and afterward. This can help you continue conversations and reinforce connections online with conference attendees you met in person.

4. Time with Your Team

• Coordinate in Advance: Assign goals and tasks to your team to cover more ground at the conference. 

• Check-ins vs. Independent Networking: Plan brief daily check-ins with your team while encouraging independent exploration. Make sure you have a way to communicate with each other during the conference.

5. Networking with Assisted Living Companies

• Targeted Networking: Attend relevant industry events and be open to impromptu networking during breaks. If there are attendees you want to chat with at the conference, email them ahead of time and schedule a meet up. 

• Elevator Pitch: Have a concise, effective introduction ready.

• Follow-Up: After the event, send personalized follow-ups to the people you met.

6. Gathering Merchandise and Gifts

• Vendor Swag: Make time to visit vendor booths and collect merchandise. These items make excellent giveaways for your frontline staff or residents, helping them feel involved and appreciated after your return.

7. Gathering Information for Non-Attending Team Members

• Ask for Input: Before attending, ask non-attending team members what they would like to learn more about within the senior living industry.

• Get Relevant Information: Be sure to gather notes, resources, or contacts that will provide answers to their questions or help them grow.

These conferences are a valuable opportunity for learning, networking, and strengthening relationships with both industry peers and your team. By planning ahead, engaging with the right vendors, gathering useful information for your colleagues, and bringing back thoughtful giveaways for your staff, you’ll make the most of your time and ensure the conference has a lasting impact.