What is client retention?
Simply put, client retention is the core of customer success and customer success is the base of a thriving veterinary practice.
Client Retention Management comprises all actions taken by you and your team members to encourage clients to remain loyal to your practice for a long period of time. For you and your team to be able to take such actions, it’s of most importance to ask for feedback from your clients – so you can learn what they expect to receive from you and also if what you’re already offering is keeping them satisfied.
To create the most impact and have an effective customer retention management strategy you’ll have to base your actions on customer data.
Your existing customers are your best growth opportunity. Keep that in mind!
Most of us think that a successful veterinary practice has to attract as many new clients as possible. But bringing in new clients requires a lot more effort and money than keeping the ones you already have. Your existing clients already used your services, saw how you interact with their furry friends and most likely they trust you and they will come back when they need your services again.
If pet parents are unhappy after visiting your practice, you might be in trouble. This is why it’s important to ask for feedback and mitigate any situation that can make them unhappy. But if you’ve invested in their experience, you’re well-poised to grow your business based on their satisfaction. Client satisfaction means that they will spread a good word about your veterinary clinic. And guess what that means? New clients!
Customers are a source of growth you already own and a better and more trusted way for prospects to learn about your business. The happier your customers, the more willing they are to promote your brand.
Another key reason why you as a practice owner should focus on client retention: according to research done by Bain & Company, increasing customer retention by 5% can lead to an increase in profits of 25% – 95%. Many studies also show that it’s easier to sell services and products to existing clients than to new ones.