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Elle CVPM Cards > Marketing > Flashcards

Marketing Flashcards

1
Q

Which formula represents the number of lost clients per year?

A

Active Client last year + new clients - active clients this year

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2
Q

Which focus areas should be included in the written standards of care for the internal hospital image?

A

Merchandising
Sterility
Cleanliness
Function

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3
Q

What is the equation for finding out how many clients you lost in a year?

A

= (Active LY + New Clients) - Active Client CY

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4
Q

How many times can you text a client per month to avoid being spam?

A

2 times per month

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5
Q

JD Stowe (author of Marketing Manual) believes the 5 P’s should be redefined into:

A

Emotion
Value
Virtual
Excel
Experience

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6
Q

What are the 4 P’s of Marketing

A

Product
Place (Distribution)
Price
Promotion

+/- Position

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7
Q

How many transactions per year per DVM should you shoot fot?

A

5,000

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8
Q

Number of visits per year per client - number to shoot for?

A

10

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9
Q

Number of active clients per year per DVM to shoot for?

A

1,000

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10
Q

What does Indirect Marketing do (give examples) and what is Direct Marketing?

A

Indirect Marketing is a marketing technique that includes client education, consistent messaging from team members, team member appearance, etc.

Direct Marketing focuses on bringing new clients into the practice and expanding services to current clients.

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11
Q

Internal Marketing - what is the focus? Give examples

A

Focus is retaining current clients.

Includes:
- Recalls for patients that visit the practice
- Reminders
- Newsletters, welcome cards
- Telephone etiquette
- Staff enthusiasm

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12
Q

How often should surgical recalls be performed?

A

Night of the surgery AND three days later

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13
Q

Reminds should not be delivered how far in advance?

A

Not longer than 4 weeks in advance

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14
Q

External Marketing - what is it for and give examples

A

External marketing is aimed at advertising services to potential clients.

Examples:
- Social Media
- Websites
- Open House
- Signage

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15
Q

How much of your budget should be for advertising retail products?

A

1-3%

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16
Q

Three main considerations when considering a retail space

A
  1. Your Vision
  2. Image
  3. Space
17
Q

For retail there are four basic pricing strategies:

A
  1. Unique
  2. Value-added
  3. Value-based
  4. Volume
18
Q

Price products and services to have what percentage of resistance?

A

15-20%

19
Q

Practice Brochures - List a few items that should be on there:

A

Mission
Doctors with bio/pics
List Services
Hours of Operations
Contact Information
Website
Map and/or directions
QR Code
*Brochure should be professionally designed

20
Q

5 Objectives of Practice Brochures

A
  1. Provide essential information to new clients
  2. Compel new clients to consider loyalty
  3. Establish relationships value with the client
  4. Establish a sense of trust in the hospital staff
  5. Establish a sense of partnership
21
Q

4 Steps in handling negative reviews

A
  1. Take time, investigate the complaint, talk to staff, create a planned response
  2. Respond with empathy and an apology for experience, and an invitation to discuss grievance. If they do not respond, respond to original post again stating you’ve tried to reach out.
  3. Promote good reviews.
  4. Create a culture in the practice that helps avoid poor client experiences
22
Q

Formula for cost per client (as in how much are we spending to retain/get a client)

A

Gross Revenue / # of clients
X
% of cost

23
Q

What New Client : Lost Client Ratio is showing growth, investigation, and decline?

A

6:1 - growth

5:1 or 4:1 - investigate

3:1 to 1:1 - poor growth

24
Q

The Fear Free experience mission is to alleviate what?

A

FAS
Fear, Anxiety, Stress

25
Q

Difference between Advertising and Marketing (and the 5 components of Marketing).

A

Advertising places paid media messages in the environment and is trying to persuade a target audience to try you once.

Marketing is matching products/service to customer needs. Five components are:
1. Product/service attributes
2. Marketing Communications
3. Market Research
4. Customer Service
5. Sales Management

26
Q

Of price shopping calls - how many people are truly directly concerned about price?

A

13%

27
Q

Customer Experience Management vs Customer Relation Management

A

Customer Experience Management is creating an experience that is positive and memorable.

Customer Relation Management is gathering data about client preferences and activities to better target our services and products to client needs

28
Q

6 C’s of Client Relationship Management

A
  1. Consistency
  2. Compassion
  3. Customer Service
  4. Convenience
  5. Competence
  6. Cost
29
Q

Client Retention - what is the benchmark and what are the 3 R’s of Client Retention?

A

10-15% of clients will be lost every year, so retain 70-75% over a 3 year period

3 R’s of Client Retention:
- Recall
- Reappoint
- Remind

30
Q

What percentage of phone shoppers should be converted to clients?

A

70%

31
Q

On average 1 person tells how many people about their bad experience?

A

13

32
Q

ATC - benchmark and how much higher than exam charge?

A

Over $200, 3.5x exam charge

33
Q

Compliance should be at what %

A

85%

34
Q

What response rate does mailed newsletters, direct mail, and electronic have?

A

Mailed Newsletters - 5%
Direct Mail 2-3%
Electronic 20%

35
Q

5 Reasons why client education is important:

A
  1. Client in exam room may not be the one taking care of pet
  2. Quality materials show competent team
  3. All materials are same going to client
  4. Patient care and compliance increase
  5. Decrease liability if logged in medical record
36
Q

Client Education - 3 cautions

A
  1. Update materials regularly
  2. Do not give out bad copies
  3. Clients have different learning styles
37
Q

Trade Area per FTE - once we figure this out we can calculate 3 other metrics

A
  1. Potential revenue per FTE
  2. Potential clients per FTE
  3. Share of aggregate household income

Elle CVPM Cards (6 decks)

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