Summary
In this episode, Jerry Vinci discusses the pitfalls of relying on referral agencies like A Place for Mom and Caring.com in the senior living industry. He sheds light on the unsettling truths and lack of trustworthiness of these services. Jerry emphasizes the importance of developing internal systems for lead generation and growth, rather than relying solely on referrals. He highlights the negative impact of referrals on marketing assets, reputation management, and cost of acquiring new prospects. Jerry also discusses the lack of transparency, accountability, and ethical practices of these referral agencies.
Takeaways
- Relying on referral agencies like A Place for Mom and Caring.com can damage a community or brand’s reputation and lead to losing control over marketing assets.
- Developing internal systems for lead generation and growth should be a priority, with referrals complementing the strategy rather than replacing it.
- Relying on referrals significantly impacts the cost of acquiring new prospects and moving them through the sales pipeline.
- Referral agencies lack transparency, accountability, and ethical practices, which can put vulnerable older adults at risk.
- Senior living providers should prioritize transparency, expand facility networks, implement regular audits, provide consumer education, and adopt ethical business practices.