The 7% Rule in Marketing for Canine Rehabilitation Business OwnersJun 26, 2023
Back in 2018, when I first started TheK9PT, I faced challenges in generating leads from the local veterinary community. Referrals were mostly directed to established veterinarian rehabilitation clinics, leaving me with the realization that I needed to take control of my business by generating my own leads. That's when I delved into the world of direct-to-consumer marketing, also known as Real Marketing. In this blog post, we will explore the importance of differentiating between marketing and advertising and understand the three types of leads: cold, warm, and hot. By leveraging these concepts, we can develop effective strategies to attract clients who not only recognize the value of our services but are also willing to pay what we are worth.
The Difference Between Marketing and Advertising: Often, we mistakenly equate marketing with filling our schedules with new clients. However, Real Marketing goes beyond mere quantity and focuses on attracting clients who appreciate our expertise and are willing to invest in our services. It's crucial to understand the type of client we want for our business and how our marketing efforts can help us achieve that goal.
Understanding the Three Types of Leads: To effectively reach potential clients, we must grasp the varying levels of awareness and knowledge they possess about their pet's condition and the available solutions. Cold leads are unaware of their problem and require time to be educated. Warm leads are aware of their problem but lack knowledge about the solution. Hot leads, traditionally targeted in marketing efforts, are familiar with both the problem and the solution.
Leveraging Cold Leads: Cold leads can be acquired through social media campaigns, community events, and other means. Although they may take time to convert into paying clients, nurturing these leads by consistently educating them about the solutions we offer can yield results in the long run.
Harnessing Warm Leads: Warm leads, on the other hand, know they have a problem but are searching for the right solution. They turn to online platforms, particularly search engines like Google, to gather information. By strategically positioning our business through organic and paid advertising, we can establish ourselves as reliable sources of information and attract warm leads.
Reevaluating the Focus on Hot Leads: Traditionally, businesses heavily rely on hot leads, such as referrals from veterinarians, assuming they are the most promising source of clients. However, two significant downsides arise from this approach. Firstly, the "7 Percent Rule" suggests that only a small percentage of potential clients receive referrals from their veterinarians. By solely focusing on this subset, we miss out on a larger portion of warm leads who still require our services. Secondly, the accessibility of technology empowers individuals to research and evaluate businesses themselves, even after receiving referrals. By maintaining a strong online presence and consistent messaging, we can attract these hot leads and convert them into satisfied clients.
Embracing Real Marketing: Real Marketing allows us to control our leads and attract clients who recognize our value. By aligning our messaging, testimonials, and online presence, we can effectively communicate our ability to provide solutions. This not only empowers us to charge what we are worth but also enables us to build a successful and fulfilling business.
Understanding the 7 Percent Rule and the three types of leads can transform the way we approach marketing in our canine rehabilitation business. By embracing Real Marketing, we gain control over our leads and attract clients who are genuinely in need of our services. Let's shift our focus from solely targeting hot leads and instead develop strategies that resonate with cold and warm leads. By doing so, we can build thriving businesses that not only meet our financial goals but also provide us with fulfillment and flexibility.
Check out the study: https://pubmed.ncbi.nlm.nih.gov/22614792/
Listen to the full podcast episode on this: https://www.k9ptacademy.com/podcasts/the-k9pt-academy-podcast-business-lessons-for-canine-rehab-therapists/episodes/2147909689
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