Re: Competitor's Rates in Waterloo region

From
Elizabeth Sparrow <beth.sparrow@thekey.com>
To
Timothy Thomas <tt@thekey.com>
CC
Matt Vijayan <mvijayan@thekey.com>
Date
2023-04-18 09:35:31
Folder
INBOX
--0000000000004598d405f99c6223 Content-Type: text/plain; charset="UTF-8" Content-Transfer-Encoding: quoted-printable Thanks Tim, To echo Amanda's comments from yesterday: Breaking new accounts, and I would add, furthering accounts with limited relational/trust depth is going to be a challenge with being the highest priced in the market. This could be challenging to track the data if they don't send us referrals. On Tue, Apr 18, 2023 at 8:59=E2=80=AFAM Timothy Thomas wrot= e: > Thanks Beth. As long as we come back with data, I've found that Angie is > always willing to support us and pivot if needed. Let's keep the momentum > going. > > Tim > > On Mon, Apr 17, 2023 at 5:50=E2=80=AFPM Elizabeth Sparrow > wrote: > >> Hi Tim, >> >> Thank you for advocating and your understanding. I can see that you are >> in a complex situation right now that you are managing with >> professionalism. >> >> Thanks, >> Beth >> >> On Mon, Apr 17, 2023 at 2:11=E2=80=AFPM Timothy Thomas w= rote: >> >>> Hi Beth and Matt, >>> >>> I understand your concerns and have also voiced mine as well to Chen an= d >>> the executive team. >>> >>> Meera confirmed to me that we can onboard caregivers at an average rate >>> of $19/hr therefore I'm willing to approve a rate of $38/hr from your >>> referral sources. On the consumer lead front, we will hold the line at = $40 >>> for the next two weeks and see how it goes. We'll be watching closely a= nd >>> adjust if needed. >>> >>> Hope this helps. >>> Tim >>> >>> >>> On Mon, Apr 17, 2023 at 9:48=E2=80=AFAM Matt Vijayan >>> wrote: >>> >>>> Hi Beth, >>>> >>>> Thank you for these useful insights. We have already talked about the >>>> pricing for Waterloo. The pricing decision is not just based on compet= itive >>>> rates but also on the caregiver wages; the corporate mandate is to hit= at >>>> least 50% gross margin. Keep Tim and I in the loop when you have a >>>> situation where the pricing can impact winning the client. >>>> >>>> @Timothy Thomas In the competitive market analysis >>>> from TheKey corporate, *Home Instead Waterloo* quoted $45 for complex >>>> care and $40 for market (skewing up the TheKey market rate for Waterlo= o). >>>> This is contradictory to the mystery shopping done through Beth's cont= acts. >>>> The other two competitors' pricing is consistent. I know we talked abo= ut >>>> the variable market dynamics (Waterloo vs. the GTA) and this finding j= ust >>>> validates that we need to apply Toronto rates to Waterloo. >>>> >>>> Best regards, >>>> >>>> Matt >>>> >>>> Matt Vijayan, B.Sc., MBA, CCPE >>>> Director of Sales, Canada >>>> *Please note my email has changed:* >>>> mvijayan@TheKey.com >>>> >>>> TheKey.ca >>>> [image: TheKey] >>>> >>>> >>>> On Fri, Apr 14, 2023 at 5:44=E2=80=AFPM Elizabeth Sparrow >>> beth.sparrow@thekey.com> wrote: >>>> >>>>> Hi Tim >>>>> >>>>> I spoke to Matt briefly yesterday about my concern. >>>>> (I apologize for sending this late Friday, no need to respond until >>>>> next week.) >>>>> >>>>> My