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5 Ways To Increase your Medical Spa’s Revenue

The aesthetics industry, particularly the non-surgical aesthetics industry, is booming. What we have seen in terms of growth in the last five years is really unlike anything this market, or any other market, has seen in some time. As a marketing agency for medical spas, we’ve had good partnerships over the last few years with […]

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The aesthetics industry, particularly the non-surgical aesthetics industry, is booming. What we have seen in terms of growth in the last five years is really unlike anything this market, or any other market, has seen in some time. As a marketing agency for medical spas, we’ve had good partnerships over the last few years with a good number of medical spas; the demand is high and money is being made. There has never been a better time to be in this industry.

Patients are flocking to med spas to receive a different type of care than that which doctors offer in their regular practices. According to  USA Today, med spas represented nearly $2 billion in revenue in 2013.

While this is fast becoming a trend, a lot of med spa companies are still struggling to get patients to their clinic – and this can be largely attributed to how their marketing is set up.

In the next few paragraphs, you will discover 5 effective ways to build a solid marketing structure to help increase your revenue.

1. Set Goals For Your Team

This is one of the biggest mistakes I noticed when I first started working with a medical spas.  Normally, the team has no idea as to how much revenue they need to generate on a monthly basis for services and retail.

Usually, they don’t even know how much revenue the spa is capable of generating. If you want to increase revenue, you need to set goals and ensure the entire team is aware of them.

The best way to set goals is to look at performance from the previous year, compare the monthly performances and increase it by the percentage of growth you would like your business to grow. 

Set new targets and share them with your team.

2. Ensure You Have KPIs

Increasing revenue is not limited to service and retail revenue, it’s about key performances the team has to practice and deliver.  We call them Key Performance Indicators.

What are KPIs?  

They are key factors that you can use to monitor your overall success of your spa versus your set target and goals.

Some of your KPIs could be:

  • Number of referrals you want the team to generate every month
  • Retention rate
  • Upsell and cross marketing percentage
  • Membership sales
  • Walk-ins record, etc.

3. Invest In Paid Online Advertising

Paid online advertising can help you improve on the traffic to your medspa website and get more patients to your spa.

Posting on Instagram, Facebook, and groupon does work but to a certain point. You can have 10,000 followers but what good is it if they are all people from around the world and nowhere near your area? 

Your goal is to target people from your local area so it is easier for them to come and visit you – with targeted ads, you’ll be able to laser target your ideal audience (e.g. gender, age, socioeconomic status, etc.) and anyone within a radius of 5 to 15 miles in your area. 

Facebook ads allows you to connect your instagram page and facebook business page and re-target anyone who has liked, followed, or has engaged with your profiles – additionally, you can even install a Facebook pixel.. 

A Facebook pixel is an analytical tool that allows you to understand, track, and measure any actions that a visitor took on your website – this will allow your ads to continue targeting the right people who are looking to buy.

4. High Ticket Services (Raise your prices)

Raising your prices will help you scale your spa much faster than selling low ticket services.

For example, if your goal is to make $10,000 per month for body sculpting and you are selling a 4 session package for $500 (low ticket service) you would have to sell it to 20 people per month. But if you sold your 4 session package for $1,200 (high ticket service) you would only need to sell it to 8-9 people monthly which is MUCH easier to do.

Ensure you’re always testing offers, prices, and bundles with your customers and see which one is selling the most. 

Once you find out what people are inclined to buy then double down on that offer and price.

5. Learn To Be a Closing Machine

You can have the best marketing team in the world, but if you can’t convince someone that they need your service, your business is going to struggle. Create a sense of trust and comfort with all your customers.

Here’s a few tips for closing:

  • The most successful spas understand that sales is education and therefore, your approach should be to inform them by providing the necessary tools to make the right decision. Change your mindset of feeling “salesy” to helping someone solve a personal problem. Sales is creating trust and making your customer comfortable in trusting you to help them make an educational decision.
  • Ask them what their goal is? What do they need fixed? How urgent is this for them? Quickly find out their pain points and provide a solution to help them obtain their desired goal.
  • There are two reasons people don’t buy; that is trust and money. A lot of the time, the biggest objections you’ll hear are price objections – In these cases, you have to identify why they are assuming your prices are too high, is it because they really can’t afford it? They aren’t seeing the value they’ll be getting (most likely), or because they can find the price somewhere else? Bring value to your service.

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