Up your Upsell Game
One of the most expensive aspects of running a medical aesthetics practice is new client acquisition. It is also one aspect of the business that can feel out an owner’s control. It can also be difficult to pin down the actual return on the investment of time and money.
Many times, it feels like you are at the mercy of a marketing agency. How well they design ads, write content, manage ad spend, manage ad placement, and effectively reach the targeted audience can greatly influence results. On top of that, your team must be on top of leads as they flow through the funnel. Response time and medium used to communicate can greatly impact the conversion opportunity.
While marketing for new clients is necessary for ongoing growth, there remains an even greater growth opportunity with existing clients. Nurturing the existing client base is easier, less expensive, and quicker than trying to persuade new clients that have no relationship with your practice to give you a try. Additionally, existing clients are a warm referral source, which is always much better than a cold lead.
Besides growing business by asking existing clients for referrals, another great way to grow revenue is through the average invoice of current clients. By meeting the unmet needs of existing clients, a practice will not only grow revenue, but grow client satisfaction by helping them to look and feel better.
That said, most clients are not going to volunteer a referral or their frustrations with their skin, the aging process, or their wellness. That information needs to be pulled out of them through an effective consultation and referral process. Effective means thorough and consistent.
Here are some ideas for growing your business, increasing client satisfaction, and improving profitability.
Service Expansion: Introduce additional services or treatments that complement your existing offerings. By recommending and upselling just a couple of extra beneficial treatments during each facial or tox session, you can significantly boost your average sales per client. This not only increases your revenue but also enhances the overall experience and results for your clients.
Retail Therapy: Focus on retail sales by using the product during the service, educating your clients on the benefits of products used and the importance of an at-home skincare routine. By making retail products available and actively promoting them, you not only increase your revenue stream but also establish trust and loyalty with your clients. Encourage them to maintain their skincare routines with products recommended by you.
Keep Tabs on Expenses: Track your expenses diligently to identify areas where you can save money. Review your weekly or monthly spending versus your income to pinpoint unnecessary or excessive costs. Whether it's overspending on supplies, unused subscriptions, or unnecessary backbar items, being mindful of your expenses allows you to cut down on unnecessary costs and take home more profit.
Build Client Relationships: Invest in building strong relationships with your clients by providing excellent service and personalized experiences. Encourage loyalty and repeat visits by offering loyalty programs, personalized recommendations, and follow-up care. Happy clients are more likely to return and refer others, contributing to your overall profitability.
Refer and Receive: Encourage your clients to refer their friends and family and share their experience through their social media pages and online reviews. Reward them for doing so with a complimentary add-on or discounts on spa services (nonmedical).
Diversify Your Offerings: Explore new services or products that align with current industry trends or client needs. By diversifying your offerings, you can attract a broader clientele and stay competitive in the market. Consider offering “seasonal treatments”, adding popular treatments, advanced skincare technologies, or wellness services to cater to a wider audience and maximize your income potential.
Continuous Education and Specialization: Invest in your team’s ongoing training and certifications to enhance theirr skills and credibility. Specializing in niche services or techniques can set you apart from competitors and allow you to charge premium rates, thereby increasing your profitability in the long run. Ensure all members of your team can speak with confidence about all the services offered. This makes cross promotion of services and products seamless.
Business development is not for the faint of heart. It requires that a practice owner be diligent about growth. Such diligence also requires accountability for results. This is an area that many struggle to do well. However, when accountability for execution becomes the norm, amazing growth can be had!
💌 Are you ready to take on an investment partner to help you grow your medical aesthetics practice? If so, we are here to partner with you every step of the way. Fill out the contact form or send us an email at info@baraesthetics.com and we will schedule a call to discuss the possibilities.
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