In This Senior Care Industry Netcast:
What is “The Multiplier Effect”?
It is this: Having a bigger audience plus more revenue plus a better relationship with the consumers in your community.
This is not a new concept, nor did I event it.
Lately, a marketing guru/dude/professional that I have been following re-invigorated this concept. His name is Scott Oldford, Visit his website. Download his blueprint. I’ve talked about him before. I’d like to pass on what he teaches to all of you.
In his world, he is speaking to high-end coaches who sell high-ticket offers.
So I’ve modified his message to make it more understandable for the senior care market.
In our world, I’m talking to you, the home care (senior care) business owner, who offers an expensive (let’s get real) but a much-preferred form of elder care (in-home care).
How much is a private duty home care client worth to you in one month?
4 hours a day x 5 days per week at $22.o0 x 4 weeks= a minimum of $1760 per month. Right?
x 12months= $21,xxx per year
That’s a lot of cash for some families. Maybe for MOST families. But when they need it, they figure it out.
Some of you are Medicare-certified, some of you are private pay only, some both. Some of you are consultants, care managers, placement specialists, assisted living providers, elder law attorneys, long-term care insurance specialists, residential care providers, independent retirement communities, nursing homes and more.
All of you offer a service that is generally expensive (to the uneducated consumer) and gives families sticker shock when they find out that Medicare does NOT pay for long-term care.
The next challenge is competition. You all have a lot of competition. Those of you in the sun-belt have MORE competition, and on top of that, you gain and lose 20% of your revenue depending on the season (snow-birds).
I would say PAYMENT/COST and COMPETITION are your two main challenges.
Did you know that you can set both of those aside, and NEVER worry about them again? You can.
Here are the required foundations for this kind of success:
- You must be willing to understand and be MAGNETIC.
- You must be willing to understand and be EVERYWHERE.
- You must be willing to understand and be REAL and be YOU.
The three of these foundations together= The M.E.R.Y. Method
The M.E.R.Y Method, when implemented correctly = The Multiplier Effect.
(Having a bigger audience plus more revenue plus a better relationship with the consumers in your community.)
- This requires that you understand your “positioning” in your local market.
- You have a “clearly defined message” in your marketing materials and online (especially online).
- You have a clearly defined “offer”.
- This is more about your online marketing- timing- having a plan and a process, not just throwing it all out there.
- Frequency- relentlessly sharing your message, many messages, with your online audience.
- Platform – choosing a platform on which to be the MOST visible (Facebook works best for home care).
Being Real and Being YOU
- Stop hiding behind your website and your social media.
- Make connections with the people on your Facebook Business Page, and in your groups.
- Build a community of people around you who look to you for advice and guidance (Facebook Groups).
- Actually have REAL conversations with real people online. Answer questions, ask questions. Get a sense of what the people in your area NEED. Be THE resource for all things elder care.
When you bring all of these foundations together and commit to them, you find yourself with a bigger audience, more clients, more revenue, and great relationships with people in your local community. The worry about cost/payment and competition fades away.
We can help you get started down this road. Get engaged with our mentoring program, and start seeing a difference in your bottom line. https://www.LTCSocialMark.com/mentor
Oh and by the way? Our program costs 1/4th of what a new client will bring you. ($395 per month).
Here’s the visual: