I presented on branding and marketing an equine veterinary practice to members of the Louisiana Vet Med Association Equine Committee in September, 2011. Here is the presentation.
1. The New Path to Success for the Equine Vet Mike Pownall, DVM email@example.com www.slideshare.net/mpownall
2. Our World 3. Our World 4. 5. 6. Whats My Story 7. We Need a New Way Can we learn from other industries? Marketing Branding Social Media Cost Savings 8. What Makes You Special? 9. What Happens When Youre Special? Value = Loyalty= Less Price Sensitivity 10. 11. The Customer Experience Client Outcome 12. The Customer Experience It should not be a commodity business 13. If you reduce your prices you have to sell MORE to maintain your margin 14. If you reduce your prices you have to sell MORE to maintain your margin 15. If you reduce your prices you have to sell MORE to maintain your margin 16. % Change to Pre Tax Profit 17. Profit Leakers 18. Good, Cheap & Fast You can be 2 but not all 3 Good and cheap not fast Good and fast not cheap Cheap and fast not good 19. Giving Value Marketing Branding 20. What the #*^%*@ is Marketing? Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. Wikepedia.com 21. What is Branding What you stand for What you want to be know for Promise of Quality Service Performance Customer Experience 22. Marketing 23. 24. 25. 26. 27. 28. 29. The Equine Practice? Where are we going to find value? 30. The Equine Practice? Where are we going to find value? 31. Marketing Competition Customer Customer Customer 32. Strategy Identify our challenges Create a plan How we will do it How will we measure it 33. Competition 34. Bargaining Power of Clients The internet Relative abundance of veterinarians Health of the local economy Lay providers Price sensitivity Different breeds or disciplines 35. Threat of New Entrants New vets in an area Non-veterinary practitioners The internet Internet pharmacies 36. Bargaining Power of Suppliers Increased costs from suppliers Decreased competition Cost of labor in local market 37. Threat of Substitute Product Lay practitioners Internet Lack of differentiation 38. Competitive Rivalry Newly graduated vets Price cutting by other vets Online pharmacies 39. What Does Your Client Think of You? Surveys? www.surveymonkey.com Focus Group Hire a pro 40. Are You Missing Clients Market Segmentation Clients Breeds 41. What Does Your Client Want? Million $ Question 42. 2007 AAEP Survey Quality of care Medical knowledge Horsemanship Prompt or available Communication skills 43. What do you offer? 44. Values Vision Mission Statements 45. Mission Statement Concise statement of business strategy from a clients POV What do we do? How do we do it? Who do we do it for? Not-differentiating 46. Vision Statement What you want the practice to be Our vision at McKee-Pownall is to be a leader in Canadian equine veterinary services. We will do this by setting a standard of excellence recognized by clients, employees and colleagues as a leading resource to the equine community. 47. Value Statement
We recognize and value the strength and uniqueness of each Client-Horse-Veterinarian relationship. We are professional, ethical, innovative and available. We are leaders in implementing current medical technologies and are an important resource to the equine industry. We are committed to excellence in veterinary medicine, customer service and client education. We provide a supportive, collaborative working environment where everyone can maximize their potential. We are an economically sustainable business. We are environmentally responsible. Differentiating 48. Values The nature of our motivation determines the character of our work Dalai Lama 49. Where are we Now? Competition Customers Ourselves Services Values 50. Case Example Signalment
1.5 vet practice
51. 3 competing vet practices 52. One vet lacked bedside manner 53. Other vets part of mixed group practice 54. Last vet was very hungry 55. All were cheap