Get Started Today! 303-282-4840

 
  • Home
  • Our Blog
  • 5 Reasons Your Veterinary Practice Should Focus On Building a Loyal Client Base

5 Reasons Your Veterinary Practice Should Focus On Building a Loyal Client Base

flowers 1845074 640

 

1. Loyal clients are your most profitable clients 

According to the report, “Achieving Big Customer Loyalty in a Small Business World,” 61 percent small businesses report that more than half of their revenue comes from repeat customers, rather than new business. Meanwhile, a repeat customer spends 67 percent more than a new customer.  

You are also might be familiar with the Loyalty Effect, which is a  5% increase in customer loyalty would increase the average profit per customer by 25% – 100%.  This data also reinforces that building a loyal client really impacts the financial health of your practice.  

2. Loyal customers are easier to sell to

The probability of selling to an existing customer is 60 – 70%. The probability of selling to a new prospect is 5-20%

3. Treating loyal clients royally is security for your practice

We are frequently asked by practice owners, "why should we reward our top clients, they will do business with us anyways".  The answer is simple, they provide the bulk of your business and you need to secure that business.  By rewarding your already loyal clients you will grow that particular segment and begin to cultivate a stronger base of clients as well.  Once your veterinary practice gets in the position of winning clients back or opening the door to competition, you are less a less efficient and profitable organization.

4. Loyalty customer are more responsive To your Communications

Forrester reports that 64% of retailers say their loyalty/rewards program is the best way to connect with consumers. 

5. Loyal clients are less price sensitive

Longtime clients were half as sensitive to a change in price than a new client according to a study done by the University of South Australia.  As long as your loyal clients feel they are well taken care of,  they will stick around, drive a distance to visit your practice and be loyal advocates for your practice.  Discounting will no longer be necessary as you learn to reward loyal clients appropriately. 

Posted in Blog