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Apr

03

Free First Exams—Concerns and Realities

We understand that offering free first exams (FFEs) can feel like a leap of faith. It’s natural to question the impact of offering a service for free. But here at iVET360, we’re all about empowering your practice with data-driven insights, and the numbers speak volumes about the power of FFEs.

Is Offering a Free First Exam Worth It?

Absolutely! We know the initial investment may seem counterintuitive, but trust us, the long-term benefits are truly remarkable. Think of FFEs as an open invitation to build meaningful relationships with potential clients. By removing the cost barrier for that first visit, you’re creating a welcoming environment where pet owners can experience your exceptional care and compassion firsthand without any financial hesitation.

What Did The Data Divulge?

Let’s address some of those lingering concerns and see how the data stacks up against common myths and misconceptions:

Myth: Clients will use the offer and then not spend any money.

Reality: We get it, this is a common worry. But the numbers tell a different story. Only a tiny fraction (2%) of FFE clients spend $0. The vast majority go on to become loyal, long-term clients who are invested in their pet’s health and well-being. You’ll find that the percentage of low-spending clients remains consistent whether or not you offer FFEs, so rest assured that you’re not attracting an influx of budget-minded pet owners.

Myth: If they use the FFE, they won’t spend enough in the long run.

Reality: Here’s the exciting part: practices offering FFEs actually see significantly higher new-client revenue in the long run ($266K vs. $182K annually). While FFE clients might initially spend a bit less on their first visit, remember they are receiving a valuable service for free. This is about building that crucial initial connection, and the long-term benefits far outweigh any short-term cost.

Myth: Clients won’t come back after the free appointment.

Reality: We’re happy to report that an impressive 80% of FFE clients return within 12 months, compared to the industry average of just 50-60%. That’s a testament to the power of FFEs in establishing trust and loyalty. Clients who have a positive experience during their free first exam are far more likely to choose your practice as their pet’s healthcare home.

By the Numbers: The Value of FFEs

Let’s recap the key takeaways from the data:

  • Revenue: FFEs contribute to substantial long-term revenue growth, with practices offering them seeing significantly higher new-client revenue.
  • New Client Growth: In an industry where many practices are seeing a decline in new clients, those offering FFEs are bucking the trend and experiencing positive growth. This gives you a competitive edge in the market.
  • Long-Term Loyalty: FFEs foster lasting relationships with clients, leading to repeat business and increased revenue over time.
  • Client Retention: The high return rate of 80% for FFE clients showcases their commitment to your practice and the effectiveness of FFEs in building loyalty.
  • Low-Spending Clients: FFEs do not disproportionately attract budget-minded clients. The vast majority become valuable, long-term clients who invest in their pet’s health.

Got More Questions?

We’re here to support you every step of the way. If you have any additional questions about implementing FFEs, please don’t hesitate to reach out to your delivery team. They’re ready and excited to chat and provide guidance as you consider this fantastic opportunity for growth. Remember, we’re in this together.

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