Referral Source Management: First You Track, then You Can Act
Ask yourself a question: If you or a member of your marketing team wanted to see your top lead referral sources listed by organization, would it be easy to retrieve that data? Would you be able to see the total number of leads originating from each organization and then compare it against the number of prospects who ultimately convert into residents? What about the individuals working within those referral sources—do you know who they are and how many move-ins can be attributed to them?
If your current system for tracking and managing referral sources leaves you wondering about any of the above, it’s time to ask yourself one final question: How much more effective would your marketing be if you had the answers at your fingertips? In this post, we’ll explore the importance of referral source tracking for senior living communities and how you can equip your community for success with the right customer relationship management (CRM) software.
Referral Source Tracking and What It Means to Your Senior Living Community
The more you know about the source of your referral leads, the more strategic you can be when nurturing relationships with your referral partners. For example, some of your referral sources probably account for more of your resident acquisitions than others. The ability to see which referral sources are ultimately driving the most move-ins tells you that those relationships should be protected and developed at all costs.
Good referral source tracking can also tell you something else about your top referral sources. By consistently tracking referral leads, prospects and move-ins over time, you’ll be able to identity trends—some of which could be seasonal, while others could indicate a general shift in demand. In any case, spotting and predicting trends gives you the insight to open new dialog with your referral sources, figure out what’s driving the change, and if necessary, to re-allocate your marketing dollars.
Identifying New Opportunities with Referral Source Management
When you see your referral activity clearly laid out in front of you, you can begin to make inferences about the absolute value of every referral source. However, this doesn’t mean you should only focus on maintaining relationships with your top referral partners—far from it!
Instead, think about the lessons can you extract and apply to your comparatively under-performing referral sources. What is different about these relationships, and is it possible to shift the dynamic so that it more closely mirrors your best referral sources? Sure, sometimes the answer might be a definite “no.” But, only when you are actively and consistently tracking your referral sources can you even begin to ask questions like these.
Powerful Referral Source Tracking with Senior Living CRM Software
Referral source tracking and management takes time and effort, just like everything else that goes on in your office. This is why many senior living communities—from large, multi-location organizations, to single-building facilities where everyone wears multiple hats—are switching to CRM software designed specifically for the long-term care industry. If you’ve never considered using a CRM for senior living because you thought it was too expensive or too difficult to use, MatrixCare Marketing Essentials could be the right fit for you. Learn how easy it is to implement, or request a demo today.