The issues surrounding resident loyalty and referral must always be considered an important part of a Long Term Care company’s local marketing efforts. While some may consider the economy a slow period it can also be a time to build resident loyalty and grow new business opportunities.
According to research conducted by Bain and Company it costs 5 to 10 times more to get a new resident than it does to keep a current resident. Enhancing this finding is contented residents (and families) are more likely to refer their facility to others. In a different study, by Barry Blau & Partners, it was discovered the cumulative profits on a resident over time can reach up to 7.5 times the first year’s profits. How do you build a strong loyal relationship with residents? First you have to noticeably listen and then define services around what has been heard.
Listening-based service is the quiet fulfillment of the promise, “We care about the residents.” By listening to residents, a facility is able to personalize its care giving relationships in a manner that is distinctive and relevant. If facility managers combine great local relationships with quality experience, residents are more likely to remain loyal—a catalyst for creating unforeseen opportunities and referrals.
In a recent article by Annals of Long Term Care titled Are We Listening to Our Patients? by author G.P. Ameia Yen-Patton, RN, CS, MSN, GNP it is stated “Always keep an open mind, an open heart, open time, and open eyes, and listen, listen, listen to our patients—and smile.”
The Point: Enhancing residents’ loyalty using noticeable listening oriented programs will create long term dividends for sustainable LTC operations. In addition to positioning LTC facilities for future success, administrators will likely find that exercises like these can help keep themselves, and their staff, both busy and optimistic by discovering new possibilities for building their businesses.
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