Key takeaways

  • Key performance indicators (KPIs) give practice owners and veterinary professionals the data needed to optimize marketing campaigns.
  • Marketing strategies should have a defined goal and purpose, such as attracting new clients or improving client satisfaction and loyalty.
  • Key marketing metrics vary based on goals, but may include the number of new clients, returning clients, or average transaction charge.
  • Performance data helps practices make informed decisions about marketing efforts and how they relate to overall financial health.

 

The veterinary business landscape is constantly in flux. Many clinics have been understaffed and overworked since the COVID-19 pandemic, but we’ve seen a significant slowdown as inflation and prices skyrocket in and outside the clinic. With visits decreasing, it may be time to rethink your marketing strategy. Are you doing the same things you did one, two, or three years ago? How do you know if your efforts are working, or if you should try something new?

Key performance indicators (KPIs)—business metrics that provide objective measures of practice performance—can provide answers. Here’s how tracking veterinary KPIs can give your marketing strategy a sharper focus, make your campaigns more effective, and help your veterinary business grow.

 

What are veterinary KPIs?

Key performance indicators are measurable data points that allow veterinary leaders to track financial trends, spot problems, and make informed decisions about future operations. Marketing KPIs are specific metrics that reveal whether new or ongoing efforts, such as social media campaigns, referral programs, or wellness plan promotions, are accomplishing their goals. Which indicators you choose to track depends on those goals, which might include increased veterinary practice profitability, better client retention, more efficient marketing spending, or higher revenue per client.

 

Veterinary KPIs for marketing success

To determine your marketing success, track one or more veterinary KPIs after implementing a new strategy or changing an existing one. Don’t make too many changes at once, and follow metrics consistently to chart a clear cause-and-effect relationship. Choose indicators that align with your marketing goals, such as:

  • New clients – The number of new clients who visit the clinic each month or for the duration of an individual campaign
  • Client retention – The number or proportion of clients who return for repeat visits or with additional pets
  • Average transaction value – The average amount clients spend per visit
  • Total revenue or profit margin – Total business revenue from all sources, or the amount left over to reinvest in the business after expenses are paid
  • Cost per acquisition – The amount it costs to bring in a new client, calculated by dividing total marketing spend by the number of new clients acquired in a given period
  • Number of active clients – The number of clients who have visited the veterinary clinic or made a purchase within a specified period
  • Web traffic and conversion rates – The number of people visiting your site or the number of visitors who click to book a visit
  • Email open and click-through rates – The number of people who open emails or click on links to complete a requested action

How veterinary KPIs help optimize marketing efforts

Six building blocks in a tower, with KPI on top and blocks with the five elements of SMART goals in the others

Metrics turn marketing from a guessing game or general feeling into a data-driven, objective process. Here’s what you can do with the knowledge gleaned from key performance indicators:

  • Make informed decisions about the direction of marketing efforts and the time and money they’re worth. 
  • Benchmark and compare your marketing strategy against previous efforts and industry standards.
  • Streamline marketing efforts by determining which channels are most effective and where you should allocate resources.
  • Improve client satisfaction by understanding what marketing efforts resonate with pet owners.

How to measure KPIs

To take advantage of financial performance indicators, you need software that helps you easily calculate them. Most veterinary practice management software systems have reporting features accessible from the main dashboard to help you collect and analyze data relevant to your marketing goals. 

Marketing-specific KPIs may require you to access tools through your email marketing or client engagement platforms. If these are separate from your PIMS or your software features are lacking, consider a third-party service, such as VetSource, to help you make sense of performance data across all vet practice areas. 

 

Boost your KPIs

A strong veterinary industry marketing strategy is powered by data. Performance metrics give veterinary professionals insights into practice performance and how marketing efforts can drive revenue growth. Tracking key metrics can help your clinic make informed decisions about the direction and future of marketing campaigns that support long-term financial health.

Ready to take your digital marketing strategy to the next level? Improve your key performance indicators with fresh content from Rumpus Writing and Editing. From social media and email marketing to newsletters and blog posts, our team can handle all of your veterinary copywriting needs. Contact us to learn more, meet our team, or get started.