Why manage your lapsing clients?
Going, going – but not yet gone. That’s how I think about lapsing clients. For practice owners, understanding and managing clients who have not brought their pets in for more than a year can be challenging, but I firmly believe the effort is worth it. Why?
These clients can:
• Give you insights into problems you may not know about in the practice. Did they have a bad experience and you just didn’t hear about it? Finding and correcting any underlying concerns can draw them back and make them loyal for life.
• Point out where you need additional client education. Are they skipping physical exams to save money, for example, but are not aware of the long-term consequences of this? Are they owners of senior pets who make statements such as: “Well, she looks fine…” and have no idea of all the hidden, possible painful issues their pets face? If cost is a legitimate concern for them, now might be an ideal time to discuss your practice Wellness plan with them, reiterate your Care Credit policy or point out the benefits of pet insurance.
• Guide you back to the black – that is, financial health and wellness. Pulling these people back and keeping them as a lifetime member of your practice can be a robust source of revenue to your practice, and a meaningful lifesaver for the pets. Let’s say, for example, that you have 500 clients (400 with dogs and 100 with cats) who have let their pets’ care lapse and not come in for any physical exam in the past 14 months. If each dog client generated even $250/yr and each cat client $150/year, you’d have $115,000 to gain in your first year alone, from re-connecting with these clients and bonding them for life with you. Then factor in that your efforts will likely improve and extend each pet’s life, and you have a win/win combination.
Okay, let’s say one of these three benefits to managing lapsing clients perks your interest and you want to pursue those clients. Check out my follow-up post to learn some tips on how to bring your lapsing clients back into the practice!