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Marketing & Branding a Vet Practice

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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.

Published in: Business, Health & Medicine
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  • Hi, great slideshare Mike. Really accessible information which will help many vets.
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Marketing & Branding a Vet Practice

  1. 1. The New Path to Success for the Equine Vet<br />Mike Pownall, DVM<br />mike@mpequine.com<br />www.slideshare.net/mpownall<br />
  2. 2. Our World<br />
  3. 3. Our World<br />
  4. 4.
  5. 5.
  6. 6. What’s My Story<br />
  7. 7. We Need a New Way<br />Can we learn from other industries?<br />Marketing<br />Branding<br />Social Media<br />Cost Savings<br />
  8. 8. What Makes You Special?<br />
  9. 9. What Happens When You’re Special?<br />Value = Loyalty= Less Price Sensitivity<br />
  10. 10.
  11. 11. The Customer Experience<br />Client Outcome<br />
  12. 12. The Customer Experience<br />It should not be a commodity business<br />
  13. 13. If you reduce your prices… you have to sell MORE to maintain your margin<br />
  14. 14. If you reduce your prices… you have to sell MORE to maintain your margin<br />
  15. 15. If you reduce your prices… you have to sell MORE to maintain your margin<br />
  16. 16. % Change to Pre Tax Profit<br />
  17. 17. Profit Leakers<br />
  18. 18. Good, Cheap & Fast<br />You can be 2 but not all 3<br />Good and cheap not fast<br />Good and fast not cheap<br />Cheap and fast not good<br />
  19. 19. Giving Value<br />Marketing<br />Branding<br />
  20. 20. What the #*^%*@ is Marketing?<br />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<br />
  21. 21. What is Branding<br />What you stand for<br />What you want to be know for<br />Promise of<br />Quality<br />Service<br />Performance<br />Customer Experience<br />
  22. 22. Marketing<br />
  23. 23.
  24. 24.
  25. 25.
  26. 26.
  27. 27.
  28. 28.
  29. 29. The Equine Practice?<br />Where are we going to find value?<br />
  30. 30. The Equine Practice?<br />Where are we going to find value?<br />
  31. 31. Marketing<br />Competition<br />Customer<br />Customer<br />Customer<br />
  32. 32. Strategy<br />Identify our challenges<br />Create a plan<br />How we will do it<br />How will we measure it<br />
  33. 33. Competition<br />
  34. 34. Bargaining Power of Clients<br />The internet<br />Relative abundance of veterinarians <br />Health of the local economy<br />Lay providers<br />Price sensitivity<br />Different breeds or disciplines <br />
  35. 35. Threat of New Entrants<br />New vets in an area<br />Non-veterinary practitioners<br />The internet <br />Internet pharmacies <br />
  36. 36. Bargaining Power of Suppliers<br />Increased costs from suppliers<br />Decreased competition<br />Cost of labor in local market<br />
  37. 37. Threat of Substitute Product<br />Lay practitioners<br />Internet <br />Lack of differentiation<br />
  38. 38. Competitive Rivalry<br />Newly graduated vets<br />Price cutting by other vets<br />Online pharmacies<br />
  39. 39. What Does Your Client Think of You?<br />Surveys?<br />www.surveymonkey.com<br />Focus Group<br />Hire a pro<br />
  40. 40. Are You Missing Clients<br />Market Segmentation<br />Clients<br />Breeds<br />
  41. 41. What Does Your Client Want?<br />Million $ Question<br />
  42. 42. 2007 AAEP Survey<br />Quality of care<br />Medical knowledge<br />Horsemanship<br />Prompt or available<br />Communication skills<br />
  43. 43. What do you offer?<br />
  44. 44. Values<br />Vision <br />Mission Statements<br />
  45. 45. Mission Statement<br />Concise statement of business strategy from a clients POV<br />What do we do?<br />How do we do it?<br />Who do we do it for?<br />Not-differentiating<br />
  46. 46. Vision Statement<br />What you want the practice to be<br />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.<br />
  47. 47. Value Statement<br /> <br />We recognize and value the strength and uniqueness of each Client-Horse-Veterinarian relationship.<br />We are professional, ethical, innovative and available.<br />We are leaders in implementing current medical technologies and are an important resource to the equine industry.<br />We are committed to excellence in veterinary medicine, customer service and client education.<br />We provide a supportive, collaborative working environment where everyone can maximize their potential.<br />We are an economically sustainable business.<br />We are environmentally responsible. <br />Differentiating<br />
  48. 48. Values<br />“The nature of our motivation determines the character of our work”<br />Dalai Lama<br />
  49. 49. Where are we Now?<br />Competition<br />Customers<br />Ourselves<br />Services<br />Values<br />
  50. 50. Case Example<br />Signalment<br /><ul><li>1.5 vet practice
  51. 51. 3 competing vet practices
  52. 52. One vet lacked bedside manner
  53. 53. Other vets part of mixed group practice
  54. 54. Last vet was very hungry
  55. 55. All were cheap</li></li></ul><li>Who are we?<br />Great bedside manner<br />Showed up on time<br />Full gamut of technology<br />Patient<br />More expensive<br />
  56. 56. What is our plan?<br />Seek out those who want better<br />Not lower our prices<br />Be everything the others aren’t<br />Reflect our values<br />Develop a brand<br />
  57. 57. Your Brand<br />What does your practice stand for?<br />What do you want your practice to be know for?<br />What is your guarantee?<br />What are the systems to deliver it? <br />
  58. 58.
  59. 59.
  60. 60.
  61. 61.
  62. 62.
  63. 63.
  64. 64.
  65. 65. Why the Brand is so Important<br />Develops an organizations identity<br />Creates processes to deliver<br />Springboard for change<br />Clarity in an organization<br />
  66. 66. Why are staff so important?<br />We perform medicine<br />We deliver the brand<br />Happy employees = happy clients<br />
  67. 67. 5 Steps to a Brand<br />Based on values, vision and mission<br />Driven by leadership.<br />Develop with communication<br />Make it fun<br />Encourage change<br />
  68. 68. Values, Vision & Mission<br />
  69. 69. Values, Vision & Mission<br />What is the sense of mission that ultimately drives what we do at MPES?<br />Who is our ideal customer (in general terms)?<br />In one sentence, describe what makes the McKee-Pownall way of doing business unique.<br />Do you know where this practice is headed in the next 5 years? If so, where?<br />Who is our ideal employee – list 3 personality traits that make a model MPES employee<br />
  70. 70. Leadership<br />
  71. 71. Communication<br />
  72. 72. Have Fun<br />
  73. 73. Evolve<br />We are committed to Personal Learning and Development <br />We are Flexible and Adaptable<br />We are Self-Motivated<br />We are Unique Individuals<br />We are Courageous and Self-Confident<br />We are Problem-Solvers<br />We are Team Players<br />We have a Positive Outlook<br />Commitment to Personal Health<br />We are Emotionally Intelligent<br />
  74. 74.
  75. 75. Other Impacts To Your Practice<br />HR<br />Training<br />Compensation<br />Technology<br />
  76. 76.
  77. 77. Does it Work?<br />Less HR headaches<br />More fun at work<br />New profit centers<br />Practice growth<br />Decreased costs<br />Loyal clients<br />Fired clients!!<br />
  78. 78. Final Words<br />Essential<br />Be patient<br />Be consistent<br />
  79. 79. Spreading the Word?<br />See you tomorrow morning!<br />

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