Med Spa CEO Podcast Episode Summary

Title: Answering Your Hottest Questions on How to Handle Price Objections, Raise Your Rates, and Attract High-End Clients
Host: Heather Terveen
Release Date: March 26, 2025
Podcast Description: The Med Spa CEO Podcast helps boutique, results-driven med spa and aesthetic practice owners grow their profits without sacrificing personal time during nights and weekends. The mission is to equip med spa owners to provide abundantly for their families, enjoy their lives, and deliver exceptional results and experiences for their patients.

Introduction

In this engaging episode of the Med Spa CEO Podcast, host Heather Terveen delves into a series of frequently asked questions (FAQs) posed by med spa owners. The focus centers on critical business challenges such as handling price objections, raising rates, attracting high-end clients, and managing team performance. Heather provides actionable insights, strategies, and personal anecdotes aimed at empowering med spa owners to enhance their profitability while maintaining a balanced lifestyle.

1. Handling Prospects Who Aren’t Ready to Purchase Signature Packages

Timestamp: [00:45]

Heather addresses the common concern of dealing with potential clients who hesitate to invest in signature packages. She emphasizes the importance of understanding the underlying reasons behind their reluctance.

Key Points:

• Understanding Client Mindset: Heather suggests that often, clients may not see the value in the higher-priced packages or may believe they cannot afford them.
• Confidence in Offerings: She advocates for presenting comprehensive annual game plans without preemptively discounting or modifying packages to suit perceived budget constraints.
• Value Engineering: If necessary, Heather advises modifying offerings on a case-by-case basis but stresses maintaining the integrity of the original package to ensure clients receive the full value.

Notable Quote:

“We are a player place that is all in on creating the most epic, outstanding outcomes, solving the biggest problems as the highest value problems for our premium patients and clients.” — Heather Terveen [00:45]

Conclusion: Heather encourages med spa owners to start with confidence in their signature packages, ensuring that they offer comprehensive solutions that provide significant value, thereby naturally attracting clients who recognize and are willing to invest in quality services.

2. Raising Prices Without Losing Loyal Clients and Patients

Timestamp: [12:33]

Heather tackles the delicate issue of increasing prices while retaining loyal clientele. She underscores the necessity of annual price reviews to account for inflation and business growth.

Key Points:

• Annual Price Increases: Regularly adjusting prices is crucial to sustain and grow profits. Neglecting to do so can erode profitability over time.
• Identifying Ideal Clients: Focus on attracting clients who value premium services and are less price-sensitive, even if it means some existing clients may leave.
• Transparent Communication: Clearly communicate upcoming price changes to clients, providing ample notice and rationale behind the adjustments.

Notable Quote:

“Every single business on the planet that is open for years raises their prices.” — Heather Terveen [12:33]

Conclusion: Heather advises med spa owners to confidently implement price increases, focusing on serving premium clients who appreciate and are willing to pay for high-quality services, thereby enhancing overall business sustainability.

3. Attracting High-End Clients Who Don’t Question Pricing

Timestamp: [17:03]

In addressing how to draw in high-end clients, Heather highlights the importance of mindset and strategic marketing.

Key Points:

• Belief in Premium Clients: Owners must believe in the existence and accessibility of high-end clients regardless of economic conditions.
• Shift Focus in Marketing: Tailor marketing efforts to attract premium clients by showcasing expertise, authority, and the exceptional value of services offered.
• Avoid Discounting Strategies: Reliance on discounts can attract price-sensitive clients, which contradicts the goal of building a premium clientele base.

Notable Quote:

“If somebody's like building their marketing around discounts and what have you, it's actually going to repel me because I'm not looking for that.” — Heather Terveen [17:47]

Conclusion: Heather emphasizes the necessity of a strategic shift in marketing and offer design to appeal to affluent clients who value expertise and quality, ensuring that pricing is reflective of the high-end services provided.

4. Biggest Mistakes Med Spa Owners Make When Trying to Scale

Timestamp: [19:24]

Heather identifies a critical mistake many med spa owners make: insufficient action due to fear of making mistakes.

Key Points:

• Taking Massive Action: Success often requires a willingness to take calculated risks and make decisions, even at the risk of encountering failures.
• Skill Development: Investing in building marketing and sales skills is essential for scaling the business effectively.
• Embracing Failures as Learning Opportunities: Understanding that setbacks are part of the growth process and using them to refine strategies.

Notable Quote:

“The people that are the most successful actually have the most amount of stacked failures along the way.” — Heather Terveen [20:46]

Conclusion: Heather urges med spa owners to adopt a proactive approach, continually expanding their skill sets and embracing challenges as opportunities for growth, thereby avoiding stagnation caused by inaction.

5. Membership Programs vs. Package Sales

Timestamp: [24:07]

Heather explores the debate between focusing on membership programs versus package sales, providing a nuanced perspective.

Key Points:

• Initial Focus on Package Sales: For businesses without existing memberships, Heather recommends prioritizing the creation and sale of signature packages to boost immediate revenue.
• Long-Term Benefits of Memberships: Once a solid foundation with package sales is established, integrating membership programs can provide steady, recurring revenue.
• Strategic Positioning of Memberships: Avoid positioning memberships solely as discount-based offerings. Instead, design them to complement and extend the benefits of existing packages, emphasizing value and results.

Notable Quote:

“I want you guys to make the most money possible as quick as possible. And so I've just seen that signature packages do that faster than memberships.” — Heather Terveen [26:02]

Conclusion: Heather advocates for an initial emphasis on package sales to achieve rapid financial impact, followed by the strategic addition of memberships that enhance client outcomes and provide consistent revenue streams.

6. Handling Underperforming Team Members Without Termination

Timestamp: [27:15]

The final discussion revolves around managing team members who are not meeting performance expectations without resorting to termination.

Key Points:

• Business First Mentality: Prioritize the health and sustainability of the business, understanding that all team members must align with the company's direction and goals.
• Clear Communication of Expectations: Ensure that all team members understand their roles, responsibilities, and the business’s objectives through explicit and documented communication.
• Creating a Positive Accountability System: Foster an environment where team members feel supported and accountable, encouraging alignment with business initiatives.
• Graceful Separation: If a team member chooses not to align with the company’s direction, part ways amicably, respecting both parties’ needs.

Notable Quote:

“If the business doesn't thrive and survive and isn't, you know, flourishing, everybody suffers. I suffer, the other team members suffer. Eventually my clients are going to suffer because I won't be able to actually continue to serve them at the highest level.” — Heather Terveen [32:08]

Conclusion: Heather emphasizes the importance of maintaining a cohesive and high-performing team by setting clear expectations, providing necessary support, and making tough decisions when alignment isn’t achievable, all in favor of the business’s long-term success.

Final Takeaways

Heather Terveen's comprehensive responses provide med spa owners with actionable strategies to tackle some of their most pressing business challenges. Key takeaways include:

• Confidence in High-Value Offerings: Presenting comprehensive, value-driven packages without prematurely discounting ensures attracting clients who recognize and are willing to invest in quality services.
• Regular Price Reviews: Keeping prices aligned with inflation and business growth safeguards profitability and sustainability.
• Targeted Marketing for Premium Clients: Shifting marketing focus to attract high-end clients who value expertise fosters a clientele that supports higher pricing structures.
• Proactive and Decisive Leadership: Embracing action over fear of mistakes, continually developing marketing and sales skills, and managing team dynamics effectively are crucial for scaling successfully.
• Strategic Offer Structuring: Balancing immediate revenue gains from package sales with the long-term benefits of membership programs ensures both quick and sustained financial growth.

Heather concludes by inviting listeners to submit their questions for future episodes, fostering an interactive and supportive community for med spa owners striving for business excellence.

Connect with Heather Terveen: For more insights and to join discussions, follow Heather on Instagram @HeatherTurveen and visit heatherturveen.com.