What makes your practice different?
- Author Erik Perron
- Published May 5, 2008
- Word count 364
Toronto is a very pet-friendly city. Torontonians have lots of disposable income, and they spend a fortune on their pets. Very few cities have as many high-end pet stores, groomers and other luxury services.
Of course, Toronto also has a lot of professionals offering pet care and veterinary services. Local customers are very picky because they have a lot of choices, and the cost of switching services is null. For this reason, emotional factors will weigh in heavily. Veterinary medicine is one of the few medical fields where branding and marketing play an important role.
For this reason, it’s important to remember the 80 20 rule when promoting your company. The rule states that the top 20% of your customers generate 80% of the revenue. And the bottoms 20% of your customers take up 80% of your resources.
Take a moment and step back. Look at the big picture for a moment. Try to figure out which of your customers are the most lucrative, and what their defining characteristics are. This way, you can pick your most lucrative market, and cater exclusively to them.
Is it the cat owners? Do they all live in a particular area? Do they all work in a particular industry? (Imagine being THE official veterinarian for Toronto’s medical community. You could have exclusive reign over every doctor in the city.)
Every year, you should be firing the bottom 10% of your customer list in order to make room for better-quality clients.
Another advantage of catering exclusively to the best clientele is that these people will typically have like-minded friends. Word of mouth will spread and you’ll quickly build a name for yourself as the best veterinarian for this market segment.
The best way to improve customer loyalty is to make them feel at home. Give them a place where they can be around like-minded people. A place that’s "just for them".
Of course, in the end it all comes down to one thing: More money for less work.
Focus on being the best, highest paid veterinarian in Toronto. Let the others worry about the low-paying difficult clients. In any competitive market, differentiation is key. And the Toronto veterinarian market is no different.
Erik Perron is a research writer and a consultant for Toronto veterinarian services. You can view more of his work and learn more about him at: http://torontoveterinariananimalhospital.info
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