Med Spa CEO Podcast Episode Summary: "How to Sell Premium Solutions Without Feeling Sleazy"
Release Date: February 5, 2025
Host: Heather Terveen
Description: The Med Spa CEO Podcast empowers boutique, results-driven med spa and aesthetic practice owners to enhance their profits without sacrificing personal time.
Introduction
In the February 5, 2025 episode of the Med Spa CEO Podcast, host Heather Terveen delves into the art of selling premium solutions without resorting to sleazy tactics. Tailored specifically for med spa and aesthetic practice owners, Heather's insightful discussion aims to transform the way business owners perceive and execute sales, ultimately boosting both profitability and client satisfaction.
The Importance of Selling Premium Solutions
Heather begins by highlighting a pivotal study conducted by Bain & Co., which revealed that a mere 5% increase in average ticket value can amplify profitability by an astounding 25% to 95% [00:00]. This statistic underscores the profound impact that selling premium solutions can have on a med spa's financial health. By maximizing the value extracted from each client relationship, practices can significantly enhance their revenue streams without necessitating an increase in client volume.
Personal Anecdote: Selling Healthy Eating to Her Children
To illustrate the concept of selling in a relatable manner, Heather shares a personal story about encouraging her children to adopt healthier eating habits post-holidays [Transcript: Children’s Diet Story]. She discusses the challenges faced in convincing her youngest daughter to embrace nutritious foods by linking healthy eating to her daughter's passions—such as playing softball and maintaining clear skin. This anecdote serves as a metaphor for how med spa owners can effectively "sell" premium solutions by aligning them with clients' personal goals and desires.
Reframing Selling: From Sleazy to Value Offering
Heather confronts the common misconception that selling is inherently sleazy or manipulative. She emphasizes that selling should be viewed as a transference of value—exchanging services, treatments, and products for monetary compensation [Transcript: Reframing Selling]. By shifting this perspective, med spa owners can eliminate feelings of discomfort associated with sales, fostering a more authentic and beneficial client-provider relationship.
Notable Quote:
"Selling is simply making offers to help. We are simply being a matchmaker for what it is that the person in front of us needs and linking them to the solutions that solve their problems." [15:45]
The Critical Role of Selling in Business Success
Heather discusses the dire consequences of neglecting sales and marketing in med spa businesses. Citing a Harvard Business Review study, she warns that 70% of businesses that don't prioritize selling and marketing fail within the first decade [Transcript: Importance of Selling]. This statistic serves as a stark reminder of selling's essential role in sustaining and growing a business.
She further elaborates that selling is not optional; it's integral to the very foundation of running a profitable med spa. By viewing their roles as business owners through the lens of selling and marketing, practitioners can better align their strategies with long-term success.
Strategies for Effective Selling
Heather outlines two radical strategies that can significantly enhance a med spa's ability to sell premium solutions consistently:
1. Creating an Irresistible Signature Menu
Heather stresses the importance of developing a signature menu consisting of premium packages, programs, and memberships that are unique to the practice [Transcript: Creating a Signature Menu]. This menu should deliver exceptional outcomes and solutions tailored to client needs. Implementing a structured menu provides clarity and consistency, empowering team members to confidently recommend the right services to clients.
Notable Quote:
"When we can help them get radical clarity on that structure and those solutions, it helps them sell so much more and it gives them clarity. Clarity leads to confidence, which is going to lead to more conversions." [25:30]
2. Developing an Elegant Consultation Process (CARES Framework)
Heather introduces the CARES Consult Framework, an acronym standing for Clarify, Affirm, Recommend, Explain, Show. This structured approach ensures that consultations are not only informative but also persuasive, guiding clients toward premium solutions seamlessly [Transcript: CARES Framework].
She advocates for naming the consultation process to add perceived value, making clients feel they're embarking on a personalized and intentional roadmap to their desired outcomes.
Notable Quote:
"A consultation conversation is the primary method of conversion inside of your businesses. You have to get clarity on what you want and guide your clients through that process." [32:10]
The Impact of Increased Selling on Business Metrics
Heather revisits the Bain & Co. study, reiterating how a small increase in average ticket value can lead to exponential growth in revenue [Transcript: Impact on Business Metrics]. She provides a practical example: transforming 30 out of 100 clients from spending $1,500 annually to $10,000 can elevate revenue from $150,000 to $450,000.
Notable Quote:
"If you can dial and lock in your average appointment value and the lifetime value of your patients, you can build a sustainable, thriving practice." [40:00]
Encouraging Prioritization of Selling in Business
Heather urges med spa owners to prioritize selling and marketing within their business operations. She emphasizes the importance of auditing how much time and resources are dedicated to developing sales strategies and coaching teams in selling techniques [Transcript: Prioritizing Selling].
By elevating selling to a top business priority, owners can not only enhance their profitability but also empower their teams to perform consistently and effectively. This shift allows business leaders to transition from day-to-day delivery roles to strategic leadership positions, fostering long-term growth and stability.
Conclusion and Resources
Heather concludes the episode by offering resources for those eager to enhance their selling capabilities:
- Five Figure Consults: A comprehensive consultation system designed to help practices establish high-value consultations [Transcript: Five Figure Consults].
- Med Spa Advantage (MSA): An exclusive program that includes Five Figure Consults among other growth strategies [Transcript: Med Spa Advantage].
For med spa owners ready to transform their sales approach and drive substantial growth, Heather invites them to apply for personalized coaching and join the Med Spa Advantage program.
Final Notable Quote:
"Selling is a critical part of your business's ability to bring in more revenue profitably." [50:15]
Key Takeaways
- Reframe Selling: View selling as offering value and solutions, not as a sleazy or manipulative practice.
- Prioritize Selling: Recognize selling and marketing as essential components of business sustainability and growth.
- Implement Structured Strategies: Develop a signature menu and adopt a structured consultation framework like CARES to enhance sales consistency and effectiveness.
- Measure Impact: Understand the significant financial benefits of increasing average ticket values and lifetime client relationships.
- Empower Your Team: Provide clarity and confidence to team members through structured sales processes, leading to higher conversion rates and improved client satisfaction.
Resources Mentioned
- Five Figure Consults: [Link in Show Notes]
- Med Spa Advantage (MSA): [Link in Show Notes]
- Heather Terveen's Application Page: heatherterveen.com/apply
By adopting Heather Terveen's insights and strategies, med spa owners can transform their approach to selling, leading to enhanced profitability, client satisfaction, and a sustainable business model that allows for personal fulfillment and professional success.