WVC 92nd Annual Conference
Patient Lifetime Value: Keeping Clients for LIFE!
Most practices worry so much about capturing new clients that they forget to try to bond their existing clients as "Raving Fans." What are some of the things that you can do to take your level of client service from "Target" to "Nieman Marcus." Learn some very simple communication tricks to help bond your clients to your practice for life. The money you spend on external marketing is much more valuable when spent to retain a client rather than obtain a client. When it comes to Key Indicators, most veterinarians compare their average transaction. However, this is really a measure of short-term success. The real measure of your practices long-term success is Patient or Client Lifetime Value. How much does each patient and/or client contribute to the practice over their lifetime. Not only does this take into account the ACT but also a practice's ability to retain clients/patients. Start using PLV as your measure of long-term practice success.