How To Magnetically Attract High-Value Clients - Med Spa CEO

Summary

Med Spa CEO Podcast Summary Episode: How To Magnetically Attract High-Value Clients
Release Date: October 9, 2024
Host: Heather Terveen

Introduction

In this insightful episode of the Med Spa CEO Podcast, host Heather Terveen delves into the critical strategies med spa and aesthetic practice owners can employ to attract high-value, premium clients. Heather emphasizes the significance of defining your ideal client to enhance profitability without compromising personal well-being.

Defining Your Ideal Client

Heather opens the discussion by highlighting the necessity of clarity in identifying the specific clientele your med spa intends to serve. She asserts, “Whether it's your signature menu, whether it's how your consultation process is going to go, whether it's what technology and product lines you're going to carry, it is absolutely critical that you have clarity on who it is that you are actually trying to serve” (00:00).

By focusing on the “WHO” rather than the “WHAT”, practices can tailor their offerings, positioning, and messaging to attract a more discerning clientele. This targeted approach not only boosts revenue and profits but also enhances the overall experience for both the clients and the team.

Benefits of Attracting High-Value Clients

Heather discusses the multifaceted advantages of attracting premium clients:

Increased Revenue and Profits: Higher-value clients are often willing to invest more in specialized services, directly impacting the bottom line.
Enhanced Client and Team Satisfaction: Serving discerning clients who value expertise leads to a more fulfilling work environment and better client relationships.
Competitive Advantage: Attracting clients who are willing to travel for your services positions your practice as a premier destination, reducing the impact of local competition.

Heather shares a personal anecdote to illustrate her point. She mentions her friend Nicole, who travels significant distances to access specialized training and hair services, demonstrating that premium clients are willing to go the extra mile for exceptional quality.

Strategies to Magnetically Attract Premium Clients

Heather introduces the Premium Patient Magnet Toolkit, a resource she developed to help med spa owners implement the strategies discussed in the episode. She emphasizes that before making any additional investments in technology, promotions, or marketing, defining and attracting premium clients should be the primary focus.

Key strategies highlighted include:

Specialization: Creating highly specialized offerings that cater to specific client needs, much like the blonde hair specialists in Phoenix that Heather mentions.
Unique Value Proposition: Developing a clear and compelling value proposition that distinguishes your practice from competitors. Heather notes, “When you get clarity on who it is that you are wanting to attract, you are able to create an experience that is unlike everybody else” (08:45).
Experience Design: Crafting an exceptional client experience that justifies premium pricing and fosters client loyalty.

Differentiating Market Segments: Mainstream vs. Premium vs. Luxury

Heather elaborates on the distinctions between mainstream, premium, and luxury markets to help listeners understand where their practice currently stands and where they aspire to be.

Mainstream Market: Serving a broad audience with generic services, leading to competition primarily based on price. Examples include retailers like Walmart or Target.
Premium Market: Focusing on a more defined client base with specialized offerings. Practices like Nordstrom exemplify this tier, where the unique value proposition is clear and pricing reflects the added value.
Luxury Market: Catering to an exclusive clientele with high-end, bespoke services. Brands like Louis Vuitton operate at this level, where excellence and exclusivity are paramount.

Heather advises that transitioning from a mainstream to a premium market involves honing in on a specific client avatar and elevating the practice's offerings accordingly. She states, “At a minimum, so you got like, let's say Louis Vuitton in the luxury market, you've got like Nordstrom in the premium market” (12:30).

The Premium Patient Magnet Toolkit

A significant portion of the episode is dedicated to introducing the Premium Patient Magnet Toolkit. Heather describes this toolkit as a comprehensive resource designed to transform how med spa owners approach their business by focusing on attracting premium clients.

Key features of the toolkit include:

Signature Menu Development: Crafting a menu of services that appeals to high-value clients.
Consultation Process Optimization: Enhancing the consultation experience to resonate with discerning clients.
Advanced Marketing Strategies: Implementing targeted marketing techniques to reach and attract the ideal clientele.

Heather emphasizes the transformative potential of the toolkit, asserting, “It will change the way you think about your service menu, your promotions, your content, your consultations, and your entire business for the rest of your life” (06:15).

She also provides actionable steps for listeners to access the toolkit, including visiting her website or reaching out via Instagram.

Conclusion

Heather wraps up the episode by reiterating the importance of defining and attracting premium clients to elevate the practice’s success. By focusing on who you serve, med spa owners can create a sustainable, profitable business model that aligns with personal and professional goals.

Notable Quotes:

“Whether it's your signature menu, whether it's how your consultation process is going to go, whether it's what technology and product lines you're going to carry, it is absolutely critical that you have clarity on who it is that you are actually trying to serve” — Heather Terveen (00:00)
“When you get clarity on who it is that you are wanting to attract, you are able to create an experience that is unlike everybody else” — Heather Terveen (08:45)
“At a minimum, so you got like, let's say Louis Vuitton in the luxury market, you've got like Nordstrom in the premium market” — Heather Terveen (12:30)
“It will change the way you think about your service menu, your promotions, your content, your consultations, and your entire business for the rest of your life” — Heather Terveen (06:15)

Listeners are encouraged to explore the Premium Patient Magnet Toolkit to implement these strategies and transform their med spa practices into premium destinations.

Timestamp References:

00:00: Introduction and Importance of Clarity in Client Definition
06:15: Introduction of Premium Patient Magnet Toolkit
08:45: Benefits of Attracting Premium Clients
12:30: Differentiating Between Market Segments

For more resources and to access the Premium Patient Magnet Toolkit, visit heatherterveen.com or connect with Heather on Instagram @heatherterveen.

Transcript

Heather Terveen (0:00)

Whether it's your signature menu, whether it's how your consultation process is going to go, whether it's what technology and product lines you're going to carry, it is absolutely critical that you have clarity on who it is that you are actually trying to serve. Welcome to the MedSpa 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 with 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 you are having a fantastic October. So far. This will be one of the first, maybe the second episode that actually drops in October. And it has been incredibly hot here and unusually hot actually here in Phoenix. And I know in other parts of the country the weather has just been, oh, I mean, just intense. So I hope wherever you are listening in that you are safe and that the weather is not atrocious. And I'm hoping that we do not have a hot Halloween here in Phoenix. It is no fun, the kids being in their costumes and sweating, if you will. I have something new to share with y'all that is actually already available and it is something that I created. It's called the Premium Patient Magnet Toolkit. And this particular training and toolkit that I put together for you all was really inspired by by the many, many conversations that I have with clients and then just around what I consider to be potentially the most important shift that has to happen in order for you all to create practices that are really with the most premium patient in mind. Okay? And when we create businesses around the WHO rather than just the what, we're able to actually more simply create offers and our positioning and messaging that attracts a higher level of patient or client. And what happens when we start attracting a higher level patient or client is that this impacts everything. It impacts your revenue and profits, obviously. It also impacts your ability to enjoy running your you and your team actually enjoying the patients and the clients that you serve. It impacts whether or not you have to worry about the competition that is around you. Because when you start really being able to where you have patients and clients that are traveling far to come to you, then you really, truly are putting yourself in a position where you get to control your destiny, so to speak. So before you invest in one more piece of technology, before you create One more last minute monthly promo discount before you write that Instagram post, before you make one more move in your med spa or static practice, you must snag the premium Patient Magnet toolkit. Okay, I will link up to it in the show show notes right now. If you're listening to this episode soon to when it actually goes live. It's only $47 right now, so I would snag it while the price is still at that price point. You can also DM me magnet on Instagram as well too, and I will send you over the sales page link. But so why is this the thing that you must start with? Because it will change the way you think about your service menu, your promotions, your content, your consultations, and your entire business for the rest of your life. I know that sounds dramatic. I would rather have you make this one mindset shift for your business now because it's kind of the big domino that affects everything else. So I was actually talking with a girlfriend who was telling me we used to work out at the same training place. And I still work out at the training place here in Phoenix that I love that actually is not that far from my house. It's like five, seven minutes down the road from my house, so I'm lucky. But my girlfriend Nicole was telling me that she now travels to like North Scottsdale, like deep North Scottsdale from here. So it's like probably like 30 minutes away from our house to go to this training facility. And so I was like, huh. And so, you know, she's telling me like how awesome it is and that it's totally worth the drive. And she's like, me. She's got three kids and competitive sports at multiple schools. She's a realtor. She's really busy with her career. And so I was like, wow, this place must be pretty special for her to like commute all the way there. She also travels far to get her hair done. Okay. She goes to Gilbert Deep in the East Valley. For those of you who aren't familiar with Phoenix, it's like the total opposite direction of North Scottsdale from where I live. And she travels there to some like special hair place that folks focuses on blondes. And if you live here in Phoenix, you probably even know which hair place. I bet it's a pretty popular one that is infamous in our town for really being blonde specialists. Okay. So she travels all the way to these places. And the reason she travels to these places is because she is a premium client. She is willing to travel to get the best experts at what they do, okay. When these places created them, you know, when they created whatever their offering is and when they created who they were going to focus on, they asked themselves the question, who are they going to help? They did not create generic facilities, you know, the training facility or the salon. They create highly specialized businesses with a certain type of client in mind. And so it's interesting. Like, I was thinking about this even for my husband and myself, you know, one of our daughters, actually, now two of our daughters are going to a hitting coach that is in Mesa. Okay. I'm giving you like a geography of Phoenix, but it's, you know, 35, 40 minutes each way to go to this hitting coach. And my husband and I now, my husband was a Division 1 collegiate and professional baseball player. And so, you know, I asked myself the question, like, why are we traveling this far? But he's so good. Like, he is like, not only helping them with their swings, but he. His approach is like helping them with their mental fitness as well, too. I feel like he's almost a therapist at the same time as a hitting coach. And if you know how terribly difficult and how much failure and emotional hitting is for any of you who've either have a baseball player in your life you loved, or you played softball or baseball yourself, you can know that the mental part of the game is so important. And so this guy we travel far to, because he is. He serves a very specific type. He only works with softball players. He actually, I think, occasionally works with baseball players. But his bread and butter and what he specializes in is really helping softball players with their swing, which is, you know, similar to baseball but slightly different. Right. Because the ball's coming in off a different type trajectory. But I digress. Okay, so we are premium clients who are willing to travel far, especially when it comes to our kids and when it comes to certain things for ourselves. And so when you're thinking about your practice, when you're thinking about your med spa and you are putting together, whether it's your signature menu, whether it's how your consultation process is going to go, whether it's what technology and product lines you're going to carry, it is absolutely critical that you have clarity on who it is that you are actually trying to serve. There are just so many examples of when businesses do this really, really well. They know who they're for and they know who they're not for. And I can tell you now, after working with so many clients, that success comes so much easier when you draw your line in the sand on who you want to serve. It's totally possible to transform your practice or your med spa into a premium destination where people are willing to travel far, where people who have certain discernment for the types of services and expertise they're looking for are willing to actually travel far for it. The other thing that I've noticed happens with a lot of people in the industry and you know, clients I've worked with in the past, is that you think that you are at the affect of who it is that you attract. That ultimately, you know, if you have a lot of customers that are headaches for you and your team, that is entirely optional. And I don't even mean something dramatic where you're like, you know, you put the sign up that says we, we reserve the right to refuse service to certain patrons. It doesn't even mean you have to be dramatic and do anything like that. When you start to actually change and shift who you are focused on, then you will notice that you start to magnetically actually attract those clients and patients. And it's interesting because who you've attracted so far is also based on now if you're like many of my clients, you're fabulous at what you do, you're fairly busy, you have pretty good patient and client retention. And it's just there's something that you know, you could be doing that would up level not only the entire experience, but it would up level who it is you're serving. And in turn it would actually improve your revenue and your profits and help you to differentiate yourself from your competitors and stand out as well too. So I've talked about this recently on the podcast. I think I sometimes forget what I talk about with clients and what I talk about on the podcast. But when I'm talking about premium, there's mainstream, premium and luxury. And so many times many of you inadvertently have created practices around mainstream. And what I mean by that is that mainstream customer base, a mainstream market, if you will, is a very wide and broad market. It's where you're like trying to serve everybody. It's like Walmart or Target. And it's where you are going to put yourself in a position where you're competing on price because everything things more generic. You want to be at a minimum in the premium game. And some of you will decide to focus on the luxury market. Now to focus on the luxury market, you actually have to legit go all in on focusing on the luxury market. Okay? And that is amazing. But at a minimum, so you got like, let's say Louis Vuitton in the luxury market, you've got like Nordstrom in the premium market. So once you get to premium, your unique value proposition is not commoditized anymore. Your unique value proposition becomes more focused in order to have a unique value proposition. Like all the examples I gave you for me and my friend Nicole, where we're all traveling far and spending more money and willing to really be inconvenienced even to travel to a certain type of provider that we want to see. In those instances, it's totally worth it to us and we're willing to drive further. And it's because those places have focused on a very specific who they know who they're trying to attract. They double down on it. Their offerings are different than everybody else's. I can tell you. I know the place that she goes to for her for that specializes in blonde hair. Like they charge like way, way more, like 2-3x more than what the other salons in the area are charging. And they're in Gilbert, which is like technically, you know, supposed to be, you know, I'm in Scottsdale, which is supposed to be more premium, if you will, but they're charging two to three times more. What you know, the Scottsdale salons are even charging. And they're able to do that because they're highly specialized. They know which premium claim clients that they have focused their business around, that they have focused their offering around. And when you get clarity on who it is that you are wanting to attract, you are able to create an experience that is unlike everybody else. You're able to create an offering that actually premium clients and patients like, they are able to discern that if everything's discounted, if you're the lowest priced place with a bunch of generic service items, that for sure isn't going to be what a highly discerning premium patient is going to think is going to be a fit for them. Right? So getting clarity on who your premium patient is is absolutely critical. And I cannot wait for you all to snag the premium patient magnet toolkit for $47. There is so many incredible trainings inside this special training that I've put together inside this toolkit as I'm calling. It's going to forever change how you think about creating your offers, your positioning, how you create your content, how you put your consults together, your entire marketing and sales system. So again, if you want to snag that, you can go to the Show Notes, you can go to heatherterveen.com magnet or DM me the word magnet on Instagram @heatherterveen, and I will send you over the details on snagging that special training. All right, my friend, I will see you soon. Hey, if you're enjoying this podcast and you're a Boutique, results driven MedSpa 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 heatherterveen.com apply to apply to get on a call with us to learn more. That's heatherterveen.com apply to learn more.