The State of Veterinary Marketing Report by LifeLearn Animal Health provides essential insights into the current state of veterinary marketing and where practices are headed in the future. The State of Veterinary Marketing Report provides essential insights into the current state of veterinary marketing and where practices are headed in the years to come. One would think that veterinary practices would cut back on marketing budgets given the economic backdrop of 2022. Eighty-five percent of practices plan to increase their marketing budgets in the next five years. The report shows a dramatic shift in how practices view word-of-mouth advertising, which used to be seen as the best way to attract new clients. In the LifeLearn's 2022 report, 75% of surveyed practices considered word of mouth most important, and online reviews/reputation ranked equal with word of mouth. Tiffany Isbell, VP of Brand and Content Marketing, says that the shift towards digital marketing reflects practice goals to keep step, stay competitive, and grow in an increasingly competitive veterinary services market. The report shows that practice revenue grew across all major revenue categories. In LifeLearn's 2023 report, 20% of respondents reported $100,000 to $249,000 in annual revenue, compared to 3% in the previous report. The outlook for the veterinary industry is in line with this upward trend. According to Research and Markets' Animal Hospitals and Veterinary Clinics Global Market Report, the global veterinary market is expected to grow to $151.26 billion at a compound annual growth over the next five years. The research shows that pet insurance is a substantial revenue factor. The veterinary services industry has been able to take advantage of rapid growth in the pet insurance sector and rising pet ownership in the US. According to IBISWorld, pet insurance makes veterinary services more accessible to people who may previously have been constrained by finances, which leads to more revenue per appointment for practices. The report shows that the number of practices using an online marketing provider has more than doubled in the last five years to keep marketing goals on track. If you want to improve your marketing strategy for your veterinary practice, you need to get the essential insights. The state of veterinary marketing was reported in the report. LifeLearn animal health is a ProSites company. LifeLearn offers online software solutions for veterinary practices to save time, improve efficiency, and strengthen client relationships. LifeLearn's award-winning competencies in digital media, together with longstanding veterinary content expertise and customer support, and just part of why LifeLearn is a leading and trusted name in the animal health industry. You can learn more about ProSites by visiting the website. Visit LifeLearn.com to learn more. You can contact the media. Tiffany Isbell works for LifeLearn Animal Health. LifeLearn is the source of animal health information.PR Newswire
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