Marketing Flashcards
The paid, public announcement of a persuasive message by a veterinary practice directed to its existing and potential clients.
Advertising
Veterinary services that are provided at the client’s home, farm, or other location where the animals being treated are housed. May also be referred to as a house call or farm call.
Ambulatory services
The overarching concept, image, and perception of a veterinary practice.
Brand
Survey designed to determine the level of satisfaction provided to the client by the hospital.
Client satisfaction survey
A mailing list not previously used by the practice, usually consisting of the names of people who are not currently clients.
Cold list
A purchased advertisement designed to attract new business to the hospital, generally including artwork or graphic information. May be found in the yellow pages or in a newspaper or magazine.
Display ad
Marketing that introduces the practice to potential clients and aims to convince them to use the veterinary practice’s services.
External marketing
Marketing that concentrates on existing clients, aiming to strengthen their bond with the practice and to increase their demand for veterinary services. Sending letters to existing clients about the benefits of twice annual physical exams for older pets is a good example
Internal marketing
Techniques and activities used for finding and keeping clients, increasing public awareness of a need for veterinary services, advertising products and services available, and enhancing the image and reputation of the practice in community.
Marketing
Marketing tools initiated by a practice to reach current or prospective clients.
Public relations
Information about a practice or other entity conveyed through the media, be that newspaper, radio, or television.
Publicity
The process of improving a website’s visibility using unpaid algorithmic search results.
Search engine optimization (SEO)
A program that increases client knowledge about practice services that are more frequently required during specific times of the year.
Seasonal marketing program
A strategic planning technique that analyzes the practice’s internal strengths and weaknesses and external opportunities and threats.
SWOT analysis
A powerful analysis tool for strategic planning and goal setting, originating as a management concept developed and advanced by Michael Porter, that describes the series of activities an organization conducts, with each stage adding value to the final product or service outcome.
Value chain
Part of a business strategy involving a practice promise to the client that gives convincing reasons for purchasing services and/or products, and serving to differentiate the practice’s offerings from those of the competition, through two primary attributes: price and quality. A service or product must be superior in price and/or quality in order to sustain sales in the face of competition.
Value proposition
Communication that uses various forms of media to influence or pursuade an audience.
Advertising
The review of data, typically looking for trends. Helpful in business decisions such as marketing and strategic planning
Analytics
A company’s reputation. The “image” is what the public is supposed to see when the company is mentioned or comes to mind
Business Image
Persuasive words that urge the reader, listener or viewer to take a specific action. Most frequently used in marketing.
Call to Action.
Measure of whether pets actually receive the care that has been recommended by their veterinarian.
Compliance
A type of advertising campaign that seeks to elicit an action (such as an order, a visit to a store or Web site, or a request for further information) from a selected group of consumers in response to a communication from the marketer.
Direct Marketing.
Promoting new products of services to new markets.
Diversity Marketing
Written or verbal communication that is aimed at attracting new clients
External Marketing
A group of clients who are asked to participate in a discussion about a particular topic or issue. The information from the group is used to develop programs, improve service, or solve problems at the practice.
Focus group
The categories that can be controlled in the marketing of a good or service; product, price, place and promotion.
Four P’s of Marketing
The set of mark-up symbols or codes inserted in a file intended for display on a World Wide Web browser. The mark-up tells the Web browser how to display a Web page’s words and images to the user.
Hypertext Markup Language (HTML)
The indirect marketing strategy focuses on channels where there is no direct communication with consumers by the companies.
Indirect Marketing
Efforts to increase utilization of services by existing clients, and efforts by the practice to train and motivated staff to work together as a team to better meet the needs of clients.
Internal Marketing
Helps you define the marketing elements for successfully positioning your market offer.
Marketing Mix
Pieces of HTML code that are imbedded in a website, but not visible with web browsers.
Meta-tags
A statement of the role, or purpose by which a practice intends to serve its stakeholders
Mission Statement
Online advertising payment model in which advertisers are charged each time a user clicks a specific link.
Pay Per Click (PPC)
The Art of Developing reciprocal understanding and good will between a business and the public.
Public Relations
The process of affecting the visibility of a website or a web page in a search engine’s unpaid results - often referred to as “natural,” “organic,” or “earned” results.
Search Engine Optimization (SEO)
Identifying select consumers in order to direct marketing efforts specifically towards those consumers.
Target Marketing.
A statement that defines and clarifies the direction in which an organization needs to move.
Vision Statement
Scheduling the next appointment for clients prior to leaving the current appointment. a strategic compliance and organizational tool.
Forward Booking
A Plan or schedule of activities taking place after the normal business or legal closing time for business.
After Hours Program
Veterinary Services that revolve around pet behavior
Behavior Programs
An Expression of dissatisfaction on a consumer’s behalf to a responsible party.
Client Complaint.
Communication between a client and a veterinary professional including letters, email, newsgroups postings, Internet forums and blogs.
Client Correspondence.
The process by which health professionals and others provide information to clients to expand their knowledgebase so they can make informed decisions about their pet’s healthcare.
Client Education
Consumer polling to identify their level of satisfaction with an existing product, and to discover their express and hidden needs and expectations for new or proposed products and services.
Client Survey
Description of the vital statistics or objective and quantifiable characteristics of a population.
Demographics.
A regulated daily food allowance.
Dietary
A means by which an owner is assisted in coping with loss of their pet.
Grief Counseling.
The Act of walking an existing or potential client through the veterinary practice, highlighting the services available, along with the facilities.
Hospital Tour.
80% of effects result from 20% of the causes.
Pareto Principle (80/20 rule)
The location a sales transaction is completed such as the reception counter.
Point-of-Sale interactions.
The health of the population as a whole, especially as monitored, regulated, and promoted by the state.
Public Health.
A person to whom a particular aspect of a professional task is delegated but who is not licensed to practice as a fully qualified veterinary professional.
Veterinary Paraprofessional.
What are the Four Ps of Marketing?
a. Product, profit, promotion, place.
b. Product, price, promotion, place.
c. Product, preparation, price, place.
Product, price, promotion, place.
What is a reasonable beginning goal for number of transactions per year per doctor?
a. 5000
b. 5500
c. 7000
5000
What Net to New Clients ratio indicates healthy growth of the practice?
6:1
____________________________ is a proactive process of gathering data about client preferences and activities to better target their services and products to client needs.
a. Customer Experience Management
b. Customer Relation Management
c. Customer Preservation
b. Customer Relation Management
The goal should be to retain ___% - ___% of clients over a 3 year period.
a. 85% - 90%
b. 65% - 75%
c. 70% - 75%
c. 70% - 75%
Each client who presents to the practice should be scheduled for at least one of the 3 follow-up events so that the practice automatically contacts each client In the future.
a. Recall, reappointment, reminder
b. Recall, reminder, recheck
c. Reminder, reappointment, referral
b. Recall, reminder, recheck
Clients retain only ________% of what they hear.
a. 20%
b. 25%
c. 15%
a. 20%
The average person needs to hear about a product or service around ____ times before they purchase it.
a. 10
b. 5
c. 7
b. 5
Client reference and education materials should always be branded with the mission of the practice.
a. True
b. False
b. False
When it comes to defining your local demographics in order to create a marketing campaign that will be more likely to succeed; what are some of the metrics you may want to quantify?
- What is the economic environment of your region? What businesses are moving in, scaling down, or moving out?
- What is the demand for veterinary services?
- What is the competition for the animal care dollar? Consider other veterinary practices, pet stores, farm stores, animal trainers, etc.
- What is the median age of the population?
- Be aware of market segments in marketing. Segments can be households, personal income, species, breeds, average education, etc. Breaking down the market into segments can help define the potential in a market and the needs of each segment – your potential customers.
What are at least three ways to increase search engine optimization on your website?
- Keywords: the keywords likely to be chosen by potential clients should be woven into the website and the more often the keywords appear, the higher the SEO.
- Internal Hyperlinks: linking other pages within your website strengthens SEO.
- Inbound Hyperlinks: other businesses linking to your website increases SEO.
- External Hyperlinks: linking other businesses on your website also increases SEO.
- Update webpage content frequently.
- Increase webpage traffic.
When it comes to marketing; what is “the key” to increasing compliance and retention?
Communication
Author JD Stowe updated “The Four Ps” of marketing, to what five realistic strategies?
- Emotion – clients want comfort. Comfort is our core product, our remaining services are part of the expected package.
- Value – practices can compete on price or quality. The target market for each is specific to that strategy with little overlap.
- Virtual – technologies are ever changing and creating new normals for practice.
- Excel – create an extraordinary experience for every client with every visit.
- Experience – clients want to be treated well and the practice creates the experience.
According to JD Stowe, how we tell people, what we promise to give them each and every time they visit our practice is called ___________.
Marketing
Social media, open house, community classes and websites are an example of what kind of marketing?
External
What is the percent of revenue budget for retail marketing according to JD Stowe?
1-3%
In regards to knowing your retail pricing advantage; the four basic strategies are Value-Added, Unique, Volume, and _____________.
a. Value-Based
Calculating the Trade Area Full Time Equivalent is a somewhat complex formula that begins with deciding your trade area, how many FTE DVMs are in that area, and calculate the percentage of trade area overlap of the other practices. Then for each practice multiple their number of FTE DVMS by the percent of the overlap and that will give you an approximate estimate of the number of DVMs in the area providing similar services and who are available within your trade area to offer those services to your clients. That calculation or number is called Trade Area Full Time Equivalent (TA FTE). Once we calculate the TA FTE we can then use that number to help calculate three different metrics. What are they?
1 – Share of the aggregate household income.
2 – Potential clients per veterinarian.
3 – Potential revenue per veterinarian.
The sum total of all the ingredients that clients experience as they interact with your practice and your team is called _____________________?
Customer Experience
Who is responsible for customer service?
The entire team.
________________is a pro-active process of gathering data about client preferences and activities to better target products and services relevant to their needs.
Customer Relation Management.
Involve the entire team in mapping the current customer experience every step of the way, then strategize on how to improve that experience, train on the updates until they are automatic, and then perform the process over again as time goes on – is instrumental in creating what?
Customer Service Standards.
List the Six Cs of Client Relationship Management.
- Consistency
- Compassion
- Customer Service
- Convenience
- Competence
- Cost
In general, a small animal practice will lose ____% to ____% of their clients every year.
10 to 15 %
The goal should be to retain ____% to ____% of your clients over a 3 year period.
70 to 75%
Client acknowledgment, reminders, staff identification, telephone etiquette, professional appearance, clean and pleasant smelling office, and timely replies to client requests are all examples of;
Internal Marketing
List 3 reasons why Client Education is important.
1) The person in the exam room may not be the only person who cares for the pet.
2) Quality client education materials reflect a professional and competent team.
3) Written information ensures the same information is being provided to every client, regardless of which doctor or team member is involved in the case, or how hectic the day may be.
4) Patient care and compliance is increased.
5) Giving client’s information in writing, and documenting what you gave in the medical record, helps protect the practice from liability in certain situations.
In regards to Client Education, what are the three cautions to be aware of?
1) Review all materials regularly for necessary updates.
2) It is better to not give materials out than to give out poor copies or reproductions.
3) Be aware that different clients will have different learning styles and preferences.
What are the Four Ps of Marketing?
a. Product, profit, promotion, place.
b. Product, price, promotion, place.
c. Product, preparation, price, place.
b. Product, price, promotion, place.
What is a reasonable beginning goal for number of transactions per year per doctor?
a. 5000
b. 5500
c. 7000
a. 5000
What Net to New Clients ratio indicates healthy growth of the practice?
a. 6:1
b. 8:1
c. 10:1
a. 6:1
____________________________ is a proactive process of gathering data about client preferences and activities to better target their services and products to client needs.
a. Customer Experience Management
b. Customer Relation Management
c. Customer Preservation
b. Customer Relation Management
The goal should be to retain ___% - ___% of clients over a 3 year period.
a. 85% - 90%
b. 65% - 75%
c. 70% - 75%
c. 70% - 75%
Each client who presents to the practice should be scheduled for at least one of the 3 follow-up events so that the practice automatically contacts each client In the future.
a. Recall, reappointment, reminder
b. Recall, reminder, recheck
c. Reminder, reappointment, referral
a. Recall, reappointment, reminder
Clients retain only ________% of what they hear.
a. 20%
b. 25%
c. 15%
a. 20%
The average person needs to hear about a product or service around ____ times before they purchase it.
a. 10
b. 5
c. 7
b. 5
Client reference and education materials should always be branded with the mission of the practice.
a. True
b. False
b. False
When it comes to defining your local demographics in order to create a marketing campaign that will be more likely to succeed; what are some of the metrics you may want to quantify?
- What is the economic environment of your region? What businesses are moving in, scaling down, or moving out?
- What is the demand for veterinary services?
- What is the competition for the animal care dollar? Consider other veterinary practices, pet stores, farm stores, animal trainers, etc.
- What is the median age of the population?
- Be aware of market segments in marketing. Segments can be households, personal income, species, breeds, average education, etc. Breaking down the market into segments can help define the potential in a market and the needs of each segment – your potential customers.
What are at least three ways to increase search engine optimization on your website?
- Keywords: the keywords likely to be chosen by potential clients should be woven into the website and the more often the keywords appear, the higher the SEO.
- Internal Hyperlinks: linking other pages within your website strengthens SEO.
- Inbound Hyperlinks: other businesses linking to your website increases SEO.
- External Hyperlinks: linking other businesses on your website also increases SEO.
- Update webpage content frequently.
- Increase webpage traffic.
When it comes to marketing; what is “the key” to increasing compliance and retention?
a. Communication
Author JD Stowe updated “The Four Ps” of marketing, to what five realistic strategies?
- Emotion – clients want comfort. Comfort is our core product, our remaining services are part of the expected package.
- Value – practices can compete on price or quality. The target market for each is specific to that strategy with little overlap.
- Virtual – technologies are ever changing and creating new normals for practice.
- Excel – create an extraordinary experience for every client with every visit.
- Experience – clients want to be treated well and the practice creates the experience.
According to JD Stowe, how we tell people, what we promise to give them each and every time they visit our practice is called ___________.
a. Marketing
Social media, open house, community classes and websites are an example of what kind of marketing?
a. External
What is the percent of revenue budget for retail marketing according to JD Stowe?
a. 1-3%
8) In regards to knowing your retail pricing advantage; the four basic strategies are Value-Added, Unique, Volume, and _____________.
a. Value-Based.
Calculating the Trade Area Full Time Equivalent is a somewhat complex formula that begins with deciding your trade area, how many FTE DVMs are in that area, and calculate the percentage of trade area overlap of the other practices. Then for each practice multiple their number of FTE DVMS by the percent of the overlap and that will give you an approximate estimate of the number of DVMs in the area providing similar services and who are available within your trade area to offer those services to your clients. That calculation or number is called Trade Area Full Time Equivalent (TA FTE).
Once we calculate the TA FTE we can then use that number to help calculate three different metrics. What are they? (Blackwell’s 2nd – Marketing Management - Pages 346-347)
1 – Share of the aggregate household income.
2 – Potential clients per veterinarian.
3 – Potential revenue per veterinarian.
The sum total of all the ingredients that clients experience as they interact with your practice and your team is called _____________________?
a. Customer Experience
Who is responsible for customer service?
a. The entire team.
_______________is a pro-active process of gathering data about client preferences and activities to better target products and services relevant to their needs.
a. Customer Relation Management.
Involve the entire team in mapping the current customer experience every step of the way, then strategize on how to improve that experience, train on the updates until they are automatic, and then perform the process over again as time goes on – is instrumental in creating what?
a. Customer Service Standards.
List the Six Cs of Client Relationship Management.
- Consistency
- Compassion
- Customer Service
- Convenience
- Competence
- Cost
In general, a small animal practice will lose ____% to ____% of their clients every year.
a. 10 to 15 %
The goal should be to retain ____% to ____% of your clients over a 3 year period.
a. 70 to 75%
Client acknowledgment, reminders, staff identification, telephone etiquette, professional appearance, clean and pleasant smelling office, and timely replies to client requests are all examples of;
a. Internal Marketing
List 3 reasons why Client Education is important.
1) The person in the exam room may not be the only person who cares for the pet.
2) Quality client education materials reflect a professional and competent team.
3) Written information ensures the same information is being provided to every client, regardless of which doctor or team member is involved in the case, or how hectic the day may be.
4) Patient care and compliance is increased.
5) Giving client’s information in writing, and documenting what you gave in the medical record, helps protect the practice from liability in certain situations.
In regards to Client Education, what are the three cautions to be aware of?
1) Review all materials regularly for necessary updates.
2) It is better to not give materials out than to give out poor copies or reproductions.
3) Be aware that different clients will have different learning styles and preferences.
