Increase Aesthetic Practice Profits
Aesthetic practitioners are lucky. Demand for procedures is at an all time high and there are no signs that the trend will slow down. But, consumers are more discerning than ever. Some will compare prices and jump for the nearest Groupon. Though that might be your experience, not every practice is alike. Many have a large proportion of high-end clients that value more than the lowest price. In turn, what aesthetic practitioners should focus on is their patient experience. Before cutting costs as much as possible to increase margins, aesthetic practitioners should try to attract high-end clientele by creating a high-end experience. Creating “legacy patients” who are with you for the long haul should be the goal.
The Digital Experience
Digitally, marketing might feel like a race to the bottom. Adwords PPC, Groupon, and Facebook Advertising require a campaign. For most businesses the campaign comes in the form of a promotion or discount. They are great for reaching a new and wider audience, but only a small percentage of these people are going to become high-end clientele. The discount oriented strategy is good for providing a foundation of cash flow, but it can also get in the way of growth once a practice is established.
To overcome the gerbil wheel of discounts, practices need to engage with their audience. Building rapport and credibility online is a long term investment that pays dividends. Practitioners often find that this is easier said than done because the investment takes labor and time. Building online reviews, a nice website, frequent newsletters, social media posts, blogs and videos is a fulltime job. But, it works. If this approach was easy, everyone would be doing it.
Your clientele values your ability to connect with them. Use it wisely and they’ll come for you instead of dirt cheap prices.
IRL (In Real Life) Experience
Your connection with your clientele starts before they park nearby. Most people understand the value of creating a high-end experience with classy curb appeal, waiting spaces, and offices. The hard part isn’t the design of your office space, but in the people who work with your patients. A practitioner’s personality, skill and experience are easily the most important parts of a patient’s experience. Practices should hire practitioners who make patients feel good and whom patients can trust. And, practices should incentivize practitioners to continue their training so that they continue to be experts in their practice.
If you want larger margins, you need to seek out better clientele. Connect with them wherever they are and make them feel great during every step in the process.