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13 Jul 2018

3 key strategies to double your health plan this year : The recurring revenue revolution

3 key strategies to double your health plan this year : The recurring revenue revolution

How big is your health plan, or pet club?


We’re living through a recurring revenue revolution, right now. It’s going to change the profession (again).


Because in a few years there’ll be a huge split between those practices with thousands of animals on their health plan… and those that got to a few hundred, before the plan stalled.


We all know the benefits. Better cash flow for you. Greater client retention. Increased spend. The animals see a vet more regularly.


Growing a health plan isn’t difficult. I have 3,000 animals on mine. Every week we sign up dozens more. The average client spend doubles from £220 a year to £440 a year when they are in a plan.


I started TrustVet.co.uk, a health plan growth system, to make it easier for practice owners like you to grow a very successful plan.


There are three key strategies to grow your plan:


1) Make it a no brainer

Your plan must be so appealing to clients that it makes both logical and emotional sense that they should be part of it. It should be packed with benefits and save them money.


One of the easiest ways to do this is to offer them a choice of three plans - a good one, a better one, and a best one. They will pick the level of plan that's most suitable for them.


2) Ask everyone, every year

Just because someone said no last year doesn't mean they will say no this year. Most practices ask once and then... that's it.


Which is crazy! Because there are all sorts of factors that affect whether someone will buy your plan or not. And these factors change every time.


Put in place a system in the practice to ask them once a year. If and when they're ready to join, they will.


3) The daily drip

One of the most critical factors in growing a plan is your staff. If they are on board with it, you will find it sells itself. And if they're not it's virtually impossible to grow it.


Practice owners with successful plans focus on it daily. I like the concept of a daily drip. In your daily 5 minute team huddle before the doors open for the day, you focus on the plan results from the day before.


Who came in, and how did they benefit from the plan? What are the wins? And who's coming in today who could benefit from the plan?


Drip drip drip every day... but always focusing on the benefits to clients, and never on the benefits to the practice. Your staff already think you are rich, and aren't particularly motivated to make you richer.