Understanding the Hidden Costs of Commission-Based Referrals for Senior Living Providers

Understanding the Hidden Costs of Commission-Based Referrals for Senior Living Providers

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Summary

In this episode, Jerry Vinci discusses the hidden costs and inefficiencies of commission-based referrals in senior living sales. He highlights the flaws of relying on referral agencies and emphasizes the importance of direct marketing strategies. The chapters cover the introduction, the flaws of commission-based referrals, the hidden financial costs, the hidden costs of time delays, the impact on resident perception, shifting towards direct marketing, embracing sustainable growth, and the conclusion.

Takeaways

  • Commission-based referrals in senior living sales have hidden costs and inefficiencies.
  • Referral agencies drive up costs and dilute brand identity.
  • Commission fees paid to referral agencies can significantly strain budgets.
  • Leads from referral agencies take longer to convert and require more effort to close.
  • Relying on referral leads can lead to a reactive marketing stance and undermine community reputation.
  • Direct marketing strategies, such as SEO and social media, empower providers to attract high-quality leads and foster community loyalty.
  • Embracing direct marketing ensures sustainable growth and success in senior living sales. 
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