Relatable, Affordable Pricing That Makes Sense
Monthly Fees Set for All Three Marketing Management Plans With Reasonable, Realistic Budget Constraints In Mind
|Plan||Monthly Fee||Expected Plan Duration||Expected Annual Cost|
In designing and pricing my Virtual Veterinary Marketing Management Plans, I adjusted scope, pacing and expected duration of work to project completion to create Basic and Intermediate options that would be within reach for start-ups, solo and two- to three-FTE veterinarian practices. I created an ongoing Full-Service Plan to suit established practices with four or more FTE veterinarians in competitive markets.
I based my pricing calculations on two key industry metrics:
- For each fulltime-equivalent veterinarian on staff, the average veterinary practice generates gross revenues of $500,000 to $600,000 per year.
- Well-managed veterinary practices typically invest about 1% of gross revenues in marketing their services.
|Number of FTE veterinarians||Estimated gross annual revenue||Annual marketing budget based on 1% of gross revenue||Average Monthly marketing budget|
To achieve and maintain sufficient momentum while remaining within projected total annual budgets, I designed the Basic Plan as a 4-6 month engagement at $950 per month—$3,800-5,700 total—to initial project completion. Ideally, this plan is affordable for most new and solo practices.
The more ambitious Intermediate Plan, priced at $1,250 per month, is meant to be a 9-12-month, $11,250-15,000 engagement, affordable by a two- or three-FTE veterinarian practice.
The $1,750 per month Full-Service Plan is designed for four- and five-FTE veterinarian practices in competitive markets. With its client education and communication component added to the Intermediate Plan, including an emailed practice newsletter, blog posts and email autoresponder campaigns—offered by the practice as online courses—services are designed to be ongoing at an annual investment of $21,000.
Pricing In Context
I deliberately capped the annual investment at $21,000 to make my plan pricing relatable to the practice owner in the context of staffing expenses.
According to Indeed.com, the average kennel assistant in the United States gets paid $10.68 per hour. If the employee works 40 hours a week for 50 weeks a year—2,000 hours in all—the gross annual salary total is $21,360, or $1,780 per month, not including payroll taxes or benefits.
Of course, the work done by kennel assistants is essential to any veterinary practice.
I believe a well-managed, customized marketing program, while perhaps not as relentlessly urgent as everyday housekeeping, is every bit as essential to the growth and vitality of your practice.