By Steve Moran
This may seem obvious, but in order to make the right decisions for your community, you need the right information. And this is a huge challenge for many senior living organizations.
And if you want to stay on top of your residents, their needs, and your financial objectives, you need that information at your fingertips right away . . . not in a few days, weeks, or months.
The Stories I Hear
All too often, I hear stories from many of you about how difficult it can be to run your business when the information you have is outdated or disorganized or scattered in a dozen different places. Or, worse, the information you need is available, but you almost need a computer science degree to access and make sense of it.
We are all only as good as the information we carry with us.
There are solutions out there. I am really pumped up about what Eldermark (a Senior Living Foresight Partner) announced last month. It is so cool it is making my head spin.
Eldermark just announced its addition of Microsoft Power BI (Business Intelligence) apps for its already robust and innovative software.
You may say, “Huh”? Read on.
I am sure you know that Eldermark is the industry-leading suite of software solutions that saves you time and money while raising the quality of care you provide. You also probably know that Microsoft’s Power BI software provides interactive visualizations, business intelligence capabilities, and interfaces.
Peanut Butter and Chocolate
But, like peanut butter and chocolate, it’s the combination of the two that really sings. Let me explain.
Two applications working in concert with each other allow users to drill deep into the data to identify patterns, gaps, and opportunities. We’re talking custom reporting, interactive data, and self-service analytics for digital devices that run anywhere, at any time.
Data for Everyone
We tend to think that it is mostly senior executives who need data. But it is something that allows every single leader in the organization to be better and more efficient at their job. So the best news is that anyone can access it . . . not just the folks in your IT Department.
Making It Work for Me
If I were running a senior living community, here’s how I would put these two powerhouses to work:
- I would set up occupancy goals and track my performance against those goals.
- Then I’d use the data visualization to view accurate, up-to-date data on census trends, sales, referrals, and more in real-time in order to inform my marketing strategies.
- I’d track prospect metrics, communication response, and employee close rates to evaluate how my marketing and sales operations are performing.
With All of That
I would use the software’s powerful ROI Forecast Performance Report to predict how my marketing budget will perform (how many move-ins, cost per prospect, etc.) based on my sales CRM activity, performance, and spends.
I would also use the ROI Performance Report to set move-in goals and then see throughout the year such things as my predicted prospects, created prospects, cost-per-prospect, actual move-ins, cost per move-in, and so much more.
This type of technology and insights are long overdue. And people have been clamoring for years to get their hands on real, up-to-date information that can be used to make informed, smart decisions. I’d encourage you to talk to the good folks at Eldermark to learn more about this powerful tool.