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. Vinci 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. Vinci 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.

Chapters

00:00 Introduction and Overview

00:55 The Untrustworthiness of Referral Agencies

07:53 The Dominance of A Place for Mom and Caring.com

11:57 The Lack of Transparency and Manipulated Reviews

13:21 Referral Agencies Impact on Senior Housing Affordability

15:35 Referral Agencies & Manipulated Reviews

16:30 Pitfalls of Allowing Referral Agencies to Manage Your Community's Reputation

18:33 The Importance of Accountability and Consumer Education

21:23 Key Points about Caring.com

25:12 Why Top Referral Agency Influence Matters

26:01 Improving Referral Agencies: Transparency, Expansion, Audits, Education, and Ethics

31:37 Alternative Referral Partners and Direct Marketing Strategies

32:42 Wrap Up & Summary

33:35 Conclusion and Call for Action

34:19 CCRG-Podcast-VIDEO-OUTRO.mp4