← Med Spa CEO
Med Spa CEO
3 Simple Levers to Boost Revenue and Make Q4 Your Best Yet
00:23:56
Is your med spa ready to finish the year strong? In this episode, I break down the three levers you can pull to boost revenue and profits. I share strategies to simplify your business, optimize consultations, and create irresistible offers that drive...
Loading summary
Transcript1 lines
- [00:00]
A
The more patients and clients you have been able to consult into more comprehensive game plans, the more we can actually take the improved results that all of those patients and clients will now have achieved and use that to attract more folks that are looking to get really incredible results. Welcome to the Med Spa CEO Podcast where I teach you how to grow and scale your med spa or aesthetic practice so that you can have the income and impact you know you were meant for without overwhelm, stress or feeling like you have to sacrifice your personal life and happiness to do so. It's totally possible for you and your business. Plus simpler than you think. Keep listening to find out how. Why hello my friend. Welcome back to another episode of the podcast. I hope that fourth quarter is going well for you. I hope that you are gearing up to have a profitable and incredible like ending to 2024. I can't even believe it is almost 2025. I hope that you are also building in time for yourself to be able to actually enjoy the holidays. I would I will tell you a few years ago, probably as recently as three to four years ago, I used to over engineer the end of the year, meaning over engineer especially even the end of December. And I would encourage you if you tend to be that way too because you want to end the year with a bang, that you make sure to sit down with your calendar and to make time margin for you to be with family. I just did that. I redid that again. I'd already done it in like August and again at the beginning of September because I always take that first week of the month that precedes an upcoming new quarter. So you know, for fourth quarter it was the first week of September for and we do this in MSA with our clients as well too. For first quarter, the first week of December I take the time to actually map out all the promotions and what have you as well too. We look at like long tail stuff, meaning you know I have some really new exciting and things happening in 2025 that I have high level on the calendar. I'm going to be hosting an in person event that will be attached to a mastermind that I'm launching here soon and that's going to be toward the end of 2025, the actual in person event. And so of course things that require more planning, more booking of things in order to come to fruition I do ahead of time. But really truly I'm all about 90 day planning and using the quarterly planning system. So as we are in the fourth quarter I always have to Remind myself though, because I get so ambitious in fourth quarter to remember to leave that margin because it's just a busy time with my family and I absolutely love this time of year. I actually love the holidays. I know for many of you the holidays can be a painful time as well. And it, you know, while we have loved ones that we miss during the holidays as well too, I just always think fondly of them during this time. So it is not one of those times where it is super triggering for me, even though I know for some of you it can be so. Anyhow, if you have over engineered your fourth quarter, take a hot moment to look at that and make sure you're making time for yourself. I just reconnected with that because I tend to love to add in more things. Today's topic, we're going to be talking about three simple levers to boost revenue. And I love this topic. And what's interesting is that I have found, now I'm going to share what those three levers are at the top, so you won't have to wait that long. I have found that one of the three levers tends to be of a higher focus for many of you than the other two lovers. Okay? And today we're going to actually spend more time on the other two lovers. So there are basically three ways to increase revenue and also to increase profits in your business. It's, it's really uncomplicated. And if you know me, you know, I like to make business simple. Simplicity is next to godliness. And the more complex something is, the harder it is for you all to actually implement it for me to implement at my business. So I'm constantly looking for radical simplicity in all we do. And so when it comes like, oh, gosh, I, I want to grow my revenue. I want 2025 to be exponential. I want next month for the revenue to be higher. There's three things that are within your control that you can do to boost revenue. Okay? Three things only. Number one is you can increase the number of customers that you have coming to you. Number two is to increase the average patient visit value, average client visit value of each customer that your practice or med spa sees. And then number three is to actually increase the amount that each patient or client actually spends with you over their lifetime. This is called lifetime customer value. And what I have found over the years is that many of you are disproportionately focused on increasing the number of customers, which of course is one of the three levers. But there is a tipping point where many of you actually need to double down on focusing on, okay, how can we increase that average patient visit value? How can we actually increase the lifetime customer value, lifetime patient, lifetime client value as well too? There's three main pillars that I really believe are what you need to focus on in order to actually increase your average patient visit value and increase that lifetime customer value and then ensure that you are magnetically attracted, attracting the types of patients and clients that you want to attract to when it comes to increasing the number of customers that you see. So the first pillar is this is you need to create irresistible, high value, high profit offers that are unique to you and deliver incredible results to your patients. If you've been around here for any length of time, this is not news to you. I call this a signature menu and that I believe you need to have signature packages and programs that are built around creating incredible results for a certain type of patient and for what it is that you specialize in. Okay. The second pillar is that you need to have a consistent consultation process and experience that goes beyond the haphazard consult process many of you have. So many of you do not have a dialed in sales system where if I were to come to different providers, different injectors or estheticians or what have you, the experience would not be consistent. And then the third pillar is having a marketing system that is built around an authority framework. And what I mean by that is actually not just having a promotional plan or a promotional calendar that is based on, you know, discounts and what have you, but actually building your marketing system around your expertise and your authority. Because the more we can position you with your marketing as an authority and as a leader for what it is that you do, the more that number one, you will increase the number of patients and clients that you want that are the right kinds of patients and clients that are going to drive far for you, that are going to not be just looking for the cheapest place in town. And I think that is one key differentiation that differentiates me from a lot of other marketing experts, if you will, is that you can actually position yourself, your team, your practice differently by ensuring that you are not just creating marketing that is, you know, let's create more visibility for our special incentivized offers. That's one part of marketing is having incentivized offers. Sometimes, you know, having discounts and what have you. It is not an actual strategy. We want to have a strategy for your marketing that actually positions you as an authority. Today we are going to be talking about the consultation process specifically. And the reason why is because it is oftentimes the lowest hanging fruit for many of you when it comes to making money. Tomorrow, today, right now, with what you have, most of the customer acquisition things you're going to be doing, even the marketing things that I would do with you would take some time to get going. But if you are seeing patients right now, and your team is too, you can immediately boost your revenue by selling more things to the people you already have coming in. And that is two of the three levers that you have at your disposal to pull. And that is increasing the average patient visit value and then increasing that lifetime customer value as well. And having a very dialed in consult process is the way to ensure that you increase that average patient visit value and that you increase that lifetime customer value so that patients and clients are staying with you for the long haul. Let's revisit some of the problems with many of your consultation processes that will immediately improve revenue. Now, we touched on this in the previous episode as well too. We chatted about some of these last week, right? Not having an annual process, not having a game plan for you and your team to be able to ensure that you are actually on a continual basis touching in and serving folks and having a consult beyond just the random haphazard conversations that will happen with any of your team members as they're seeing patients or clients. And so this is why sometimes the revenue is so inconsistent across providers. And it's because some providers naturally talk more and sell more and are excited to talk about maybe new products and new services that come in. And some don't naturally do that as well. And so when we actually put together an annual consult process, you can be assured that every year, every single patient or client that patrons your practice or med spa actually is given an experience of where they're being checked in with what their needs are, what are their desires, what are the problems they're looking to solve, what have you brought in that they don't even know about? Right, because we assume that if you've talked about it in email or you've talked about it in your social media, you assume that your active patients and clients know about it or are aware of it. And nine times out of 10, they're not just because of cognitive load ensuring that you have an annual process that actually happens once a year for every single patient and client and then two actually gives them a high level annual game plan every single year. Also, we talked about how not having a conversation based, consistent system that all providers and team members are following and just expecting that your team members will actually know what to say and how to say it and how to actually direct a conversation effectively. I hear this all the time where, you know, I will talk to a potential client or a past client or an existing client and they are, you know, stumped initially and will say, you know, I just don't know, understand why our providers aren't, you know, really consistently. You know, we have maybe one of seven of our providers who do it well and the rest of them aren't good at putting together combination modality things. And I will always say the reason why we put together a very decided ahead of time menu structure of signature packages and offers is obviously to help with that, to give clarity on what you want, recommended to whom and when. But the second part of that is having clarity on what you want that process to look like. And so I'm going to share with you, High Level, our CARES consult process. Okay. CARES is an acronym that stands for Clarify, Affirm, Recommend, Explain, Show. I also High Level today want to talk about what you're doing during the intake part of your process, when you are actually collecting information from patients, when they are new patients, and then every single year during your annual consultation process as well too. In fact, I was having dinner with a client recently who is in town for a training here in Phoenix and she was asking me like, you know, where all of this came from. Many of you know that I was an esthetician and a laser tech and I worked inside of a plastic surgeon's office, an aesthetic clinic attached to a plastic surgeon's office, and then also with a family practitioner who and I helped her launch and grow her medical aesthetic practice as well. But before that, before Heather got into corporate sales and marketing and then eventually became a licensed esthetician and worked in this industry and became a consultant and done all the things I've done over the last 25 years. I got my bachelor's and my master's degree in communication and in my master's program I studied human communication, interpersonal communication, organizational communication and actually did research, did a couple, worked on a couple different research projects, but one of them was text management in PowerPoint presentations for learners. Not a very sexy topic. But during that time that is like the backbone of everything I teach is actually very solid, peer reviewed psychological and communication research about what we know about human behavior. That is the backbone to all of the frameworks that I do with my clients. I also taught public speaking as a graduate assistant. I was a teaching Assistant and I had my own class of students that I would teach public speaking to. Now there was the main lecture that was done by the professor that I TA'd under and then the smaller classes if you will, where the graduate students actually taught those class. So those combined experiences, I really learned how much intentionality and thoughtfulness is actually required for humans to be able to actually comprehend, understand and to be persuaded to do to take action on something. Because at the end of the day all communication is designed to either inform, persuade or have somebody take an action on something. And so the CARES consult process was built behind the integration of not only my experience personally selling, but also the backbone of what I know it takes to actually communicate and persuade effectively with humans. And so the high level of the carees is this. C stands for clarify. That is step one is actually uncovering what your patient and clients main goals are, what their main problems are that they're looking to solve. You can assume that everybody who has booked an appointment with you has raised their hand to say that they are looking for an expert's advice on helping solve their problems and to get the desired outcomes that they are looking to get. In the C part of the process we want to make sure that we have questions that are going to spark a conversation that your providers can have with the patient and the client to be able to unpack that. The A stands for affirm. We actually want to restate back to the patient or client what we just heard to confirm that this is actually the problem they're looking to solve. These are their desired outcomes as well too. The R stands for recommend. This is where you're going to take your signature menu and you're going to actually give an annual game plan to the patient or the client. You want to do so in a way that makes it not overwhelming, that is very clear and that plants the seed that this is going to help improve your average patient visit value because they're going to spend a ton more with you at that visit. But then it's going to improve your lifetime customer value as well because you are planting the seeds on what you want them to invest in during the upcoming year as well too. The best part of it is it actually makes your patients and clients feel really held like you have a roadmap. Like you and your team are all on the same page about how you help people get outstanding results for certain things. The E stands for explain. You actually want to use a metaphor, analogy and stories to really anchor in what your recommendations are. This helps somebody they will remember a metaphor that you give to them about the recommendations more than they're going to remember the recommendations. This is also why I don't like customized treatment plans, because customized treatment plans make it seem like it's a laundry list. And cognitive load wise it is harder for the human in front of you to actually make a decision on that as well because it's just a, you know, a list of things they feel like they have to decide between, which is overwhelming. And most of you underestimate the cognitive overload most of your patients or clients are coming to you with. And then the S stands for show you actually want to have before and after is perhaps a guide, a lookbook planned out ahead of time for your providers to be able to show at the end of that consultation process. I recommend you do this every year, that once a year you do this. It actually helps improve all three of the levers, right? As a reminder, the three levers are increase the amount of customers that you have coming to you, increase the average patient visit value and or increase your lifetime customer value. You actually want to be pulling those three levers at all time. Why the care process specifically will really help you with all three levers is one, it helps with average patient visit value, right? Because we are going to increase the average patient visit value by having this really clear way and compelling way for your team members to be able to walk somebody through a comprehensive game plan. It's going to help improve the lifetime customer value because you are actually ensuring that folks actually get an annual game plan that they are having one every single year, year and you're planting the seeds for what they are going to be doing in the future which is going to anchor in for those customers, for those patients or clients that you, they are going to know, oh, I'm doing this first, this is what I'm doing ongoing and then this is what I'm doing later in the year here. And it's a beautiful thing. So then it actually helps you attract more of the right customers, patients, clients that you want to attract. And the reason reason why is because the more patients and clients you have been able to consult into more comprehensive game plans, the more we can actually take the improved results that all of those patients and clients will now have achieved and use that to attract more folks that are looking to get really incredible results. Once again, in order, the three levers you want to pull increase customers, the right kind of customers, increase average patient visit value and increase lifetime customer value. If you are interested in learning our cares, consult process our entire sales system then I recommend getting five figure consults which is currently depending on when you're listening to this. If you're listening to this close to when this episode's drops, it is currently on pre sale right now. You can go to heatherterveen.com forward/consult to learn more. But I really totally recommend you get five figure consults right now so that you can learn the secret to creating a consult process that is going to help you improve lifetime customer value, improve your average patient visit value, improve the types of patients and clients you're attracting to have the confidence to know that you and your team members are all on the same page when it comes to delivering a consistent, reliable experience for every single patient or client that comes to your practice or med spa. All right my friend, that is what I have for you this week. I will see you next week. Hey, if you're enjoying this podcast and you're a boutique results driven med spa owner who is looking to drive more sales profitably each month without hustling yourself into the ground to do so, then you should consider applying to join us inside of the MedSpa Advantage. It's the only program designed to help you grow your revenue and profits while gaining back more time so that you don't feel scattered and drained while running and growing your business each month. To learn more about whether or not you're a fit for joining us, you can head over to Heather to apply to get on a call with us to learn more. That's heatherterveen.com apply to learn more.