To start with i would like to say that "The pet population in India is estimated to be around 32 million, growing at 11% per annum, with dogs being the most popular, followed by cats and fish"

"Now that we know how serious Pet care & Pet owners are; Let's get back to what we started but now through "Frequency, Depth & Breadth"

Lets start with the Drill again

Who is Vetic, What do they do, and who are their ideal ICPs & understand them in detail

Vetic [Vay-Tik], is in the Business of Pet Care & a stop shop. India’s first tech-driven pet clinic chain powering trusted veterinary care.

Vetic will have 3 different ICPs

1. New Pet parent
2. Family with Multiple pets
3. Professional Pet Breeders and Trainers

Let us start by Understanding Vetic.

What is Vetic Core Value Proposition

What's Vetic's core value proposition - is in the game of revolutionizing the pet care industry by providing comprehensive, tech-driven veterinary care that prioritizes the well-being of pets and the convenience of their owners.

How is through their online platform [Mobile app & Desktop app].

What they offer is

o Routine pet care services,

o Medication & supplies delivery,

o Reminder for the health of your pet

o Professional advice

"In Shorts - Vetic's core value proposition is on leveraging technology expertise, community engagement & providing convenient, comprehensive & trusted veterinary care that eases the lives of the owners & their pets"

Who are Vertic's Competitors

There are 10 Competitors that I came across & here are the Top 5

Usage & the Natural Frequency of the Product:

The Natural Frequency of the Product:

The natural frequency of the product can be determined by [X] the amount that has been spent over the [Y] number of days. The average time that can be spent is between 10 – 20 minutes, based on the category. Active user is when a user logs in, chooses the product of their choice and checksout.

[Active user] How do we define this?

o Users will schedule appointments for their pets, with the frequency of number of amount spent over the frequency of appointments booked.

o User may order pet supplies with the amount spent over the frequency & the frequency of days & the discount availed.

What is the best engagement framework for Vetic's product?

What are the Subproducts of Vetic

ICP and User Segmentation for Vetic

The last time we met some great ICPs, 1 Married, 1 Single & 1 was a Trainer/Breeder. Now let us spice it up more by adding new ones to Casual, Core & Power user groups...

User segmentation

Engagement Campaign

Phew this was a challenge - it said 15 min 😀

Churn -

Woooof Wooof Wooooof i am going - We are sorry Wooof

What is Churn

Churn refers to when a user/customer, decides to stop doing business with a company over a certain period. From a user customer when they have hit the wall where they do not see any benefit in the product or ROI.

Why do Users/Customers Churn?

Customers churn for various reasons, including:

o Poor Customer Experience: When the user/customer signs up & during their journey they expect a great experience from the product or service purchased. When the user/customer start receiving poor customer service, encountering billing issues, or experiencing product failure, that’s when things start going south.

o Lack of Value: If Users/Customers don't perceive the value of the product or service they're receiving as worth the cost, they may decide to stop using it.

o Competitive Offerings: Users/Customers churn when they find better alternatives for a price or better value.

o Changes in Circumstances: Anything can happen – hence a change in cirumstances can also a a reason for churn.

o Unmet Expectations: If customers' expectations does not meet the product performance, features, or benefits, the user/customer start getting dissatisfied

o Lack of Engagement: Users/Customers who are not actively engaged with a company's products or services may be more likely to churn. Low engagement levels can indicate a lack of interest or relevance.

What is the industry standards for Churn the pet space.

As per what i have read recently the expected churn can be anywhere between 5 to 20% that is acceptable.

What is the current Churn rate at Vetic?

Vetic is currently managing its churn rate at 12% & from the validations that are being done by Vetic currently the are at reducing churn to <10% by the 2024 mid quarter.

Toppers are :-

1. New locations introduced users come in to test waters
2. Looking for new products for their pet, as it is not in the list [ yet to be added by Vetic] user shops else where

A very good read on how a company reduced churn

https://aithority.com/technology/sales-and-customer-support/ecommerce-pet-brand-reduces-churn-by-16-using-predictive-analytics-solution-ocurate/

How Pets are Becoming a serious Business in India

https://economictimes.indiatimes.com/news/company/corporate-trends/paw-power-how-pets-are-becoming-a-serious-business-in-india/articleshow/100040855.cms?from=mdr

"Now you must be thinking why is he sharing all of this.... If you do not take care of your customer other players are willing for a lesser cost - so ensure no Churn..."

Voluntary & Involuntary Churn

What are some of the negative actions you will track?

• Decrease in CSAT/NPS
• Decrease in Frequency of Clinic Visits
• Decrease in the time spent on the application - very far fetched keeping in mind the number of users
• Removal of the application from the phone
• Unsubscribing the newsletters or email
• Posting negative feedbacks

Retention

What is Retention & why is it important to Vetis as a company

The Formula:-

Retention for a company is to retain or keep its existing customers over a specific period. This metric also provides Insights on how well the company is performing. Will it scale or Slumber.

My 2 cents that I always tell my team.

“Customer who pays sporadically is better than a Churned customer”

Retention is crucial for a company for several reasons:

o Revenue Stability: retaining customers means “continues moolah” continues revenue over the period of time

o Cost-Effectiveness: The Acquisition - as we are studies earlier it is expensive to acquire a new customer – hence maintain the existing one.

o Customer Lifetime Value (CLV): The always tend to generate more revenue over the period with a company

o Brand Loyalty and Advocacy: don’t need to say anything on this – self explanatory

o Competitive Advantage: higher the retention serves as an advantage in the market place

o Feedback and Improvement: In our work they are called the “Fathers” – provide good feedback but will never follow up till the time they see you not taking responsibility - so feedback from a customer is very important & acting on it is even more important

In Shorts - Retention is very important for a company's long-term success rate & the sustainability.

By prioritizing customer retention efforts, businesses can drive revenue growth, enhance brand loyalty. “ More the Merrier”

Retention Channel

What is Retention & What are the different types of Retention Channels?

Retention communication or engagement platform through which a company interacts with existing customers to encourage adoption, which co-relates to loyalty, repeat business, and prevent churn.

There are a set of existing channels that are utilized to maintain ongoing relationships with customers, address their needs, fix issues raised & provide value-added services to enhance their overall experience with the company.

Here are few Retention channels that are used & this can be applied for Vetic.

o Email Newsletters: Regularly sending informative information [product updates, new achievements, testimonials] to customers, this will help the customer understand the benefit of the platform and would love to explore more. – Note – there is a lot more that we can add in the new letter but limiting my typing now

o In-App Notifications: Sending notification with informative & which can engage the customer will be very helpful – Too many notifications is also bad.

o SMS/Messaging: Sending personalized messages or SMS alerts to customers' mobile phones to remind them of important pet care tasks & discounts.

o Social Media Engagement: Keeping the customer engaged actively on all the media platform by sharing content that is on or for Vetics benefit

o Loyalty Programs: Implementing a loyalty program or rewards system that incentivizes customers to continue to us ethe platform & avail discounts & much more

o Customer Support Channels: Very important – ensure there are responsive support channel to solve any issue related to the client, the channels can be decided by the company

o Community Forums/Online Groups: Create a community where customers can share their knowledge, feedback, happiness or anything – but limit to ensure that it does not become a ranting channel

Campaigns

Voluntary

o Relocation

o Financial Constraints

o Dissatisfaction of Service

o Loss of Pet

o Pet adopted by someone else

Note – The task here was to create 5 campaigns for Voluntary Churn for which I cannot create a campaign for point number 4 & 5 as these are sensitive areas

1

Campaign for Relocation:- Thi an email & a phone campaign

Note - the phone campaign will be the same as the email campaign

Subject: Stay Connected with Vetic, Wherever Life Takes You!

Dear Pet Parent,

We hope this message finds you well. From the recent discussion we understand that you're planning to relocate to another city, & we want to take a moment to express our gratitude for being one of the most valued member of the Vetic family.

While we'll miss having those moments when you & [pets name] have been at the store also we will miss you at the local community events. We want to ensure that the pet well being still remains our top priority & to address this we are setting up a new clinic in the surrounding area so that you & treh pet can continue to enjoy the same precious time & moments that you had here.

In this interim my colleague will connect you to a pet consuotant of our incase of any emergency or quick help.

You can still connect with us through:-

o Virtual Consultation

o Affiliated Partners

o Online Resources

o News letters

We understand that relocating can be stressful, but rest assured that Vetic is here to make the transition as smooth as possible for you and your pet.

If you have any questions or need assistance, please don't hesitate to reach out to our customer support team.

Have a Pawsome time

Warm regards,

[Your Name}

[Your Position]

Vetic [Vay-Tik]

Financial Constraints - this is a phone call as you cannot communicate this via anyother mode

Here we go...

Vetic team calls the Customer up & mentions over the recent pas that we have noticed changes in the interactions & activities, we wanted to understand if there is anything that we be a help of.

Customer informs that there has been a recent layoff and due to that there has been a change 0-- with few more discussion points the team mentions that they can see what best that can be done from their end & will get back

Vetic team internallly consult & get back with a possible solution & come up with this.

o Flexible Payment Plans: We can offer customizable payment plans as per your budget, allowing you to spread out the costs of veterinary care over time.

o Discount Programs: We can add you to the discount programs for a certain period of time, which can significantly reduce the cost of essential services and treatments for your pet.

o Affiliate Partnerships: Additionally, we've partnered with trusted organizations and pet care providers who offer discounted rates for our clients. We can connect you with these partners to explore more affordable options.

The team calls back the customer & informs the plan - now that we have engaged the customer & we are there when he needs us the most this increases loyaltity & the best advocate we can have.

Dissatisfaction of Service - This is the worst t let a client go, for this campaign we should have Email,calls, SMS or Whats up.

Note - Whats app, SMS & call can be an update or a follow up and may be keep this email in shorts for the customer.

Subject: We're Here to Make Things Right, Mr xxxx

Dear Sir,

We hope this email finds you well.

We recently received your feedback expressing the dissatisfaction with our services. Firstly we Vetic would like to sincerely apologise for the inconvenience caused.Your satisfaction is of utmost importance to us, and we're committed to resolving any issues you may have encountered.

We understand that from your recent visit the consultation & the grooming was not up to your mark & there were some issues that have raised these concerns and we want to assure you that we're taking immediate action to address it. Our team has conducted a thorough investigation into the matter, and we're implementing steps to prevent similar issues from occurring in the future.

However, we recognize that actions speak louder than words, and we're prepared to go the extra mile to regain your trust and confidence in Vetic. As a valued client, we would like to offer you these services

o Dedicated Support: You will be assigned a dedicated support representative who will personally oversee the resolution of your concerns and serve as your point of contact for any future needs or inquiries.

o Complimentary Services: To compensate for any inconvenience you've experienced, we're offering a one time complimentary service on your next visit or purchase with Vetic.

o Feedback Opportunity: We're committed to continuous improvement, and your feedback is valuable to us. We request you to please share most buit from this change we know for the fact that it will be better.

Please note from Vetics end we always believe in Open Communication: We that a transparent and open communication is always healthy.

We genuinely value your partnership with Vetic, and we're dedicated to providing you & your pet with the exceptional care and service you deserve.

Thank you for giving us the opportunity to make things right, and we look forward to serving you better in the future.

Warm regards,

Xxxxx

Have a Pawsome Day