Med Spa CEO Podcast: Episode Summary

Title: My Signature Menu Framework to Maximize Your Med Spa’s Revenue
Host: Heather Terveen
Release Date: January 22, 2025

Introduction to Maximizing Revenue

In this insightful episode, Heather Terveen delves into the transformative power of creating an irresistible signature menu for med spas. She emphasizes the significant impact that well-structured packages and programs can have on a med spa’s revenue without the need to increase the client base.

"If you currently have 100 clients, 100 clients, 100 patients spending about $2,000 per year, that's around $200,000 in gross revenue. Now, transitioning even just 30 of those clients from $2,000 a year to $10,000 a year using signature programs and using a really effective consult process adds $300,000 in revenue with the same client base."
— Heather Terveen [00:00]

The Importance of an Irresistible Signature Menu

Heather begins by addressing a critical challenge faced by many small businesses: sustainability. She cites a concerning statistic that 50% of small businesses do not make it to the five-year mark, attributing failures to undercharging, over-customization, inefficient systems, poor positioning, and lackluster execution.

"Creating an irresistible signature menu will is the backbone for you being able to be more operationally efficient for you, being able to charge more for you, able to elevate the consistency across you and your entire team when it comes to being able to deliver really outstanding, reliable results."
— Heather Terveen [02:30]

Heather explains that a well-crafted signature menu enhances operational efficiency, allows for higher pricing by increasing the perceived value, and ensures consistent, high-quality results across the team. This strategy not only boosts revenue but also improves both the average appointment value and the lifetime value of each client.

CBS Menu Framework

A significant portion of the episode is dedicated to unpacking the CBS Menu Framework, Heather’s proprietary method for reimagining a med spa’s service offerings. The framework consists of three key components:

1. Comprehensive Signature Packages (C)

These are premium packages priced between $3,000 to $10,000, offering holistic solutions to specific client problems. Examples include packages for lifting and tightening, acne treatment, or dark spot reduction.

"We call them CSPs. These are like our premium packages that we know we need a multifaceted approach, multi-pronged approach to actually achieving the outcome or helping this certain type of patient solve their problem."
— Heather Terveen [09:45]

Comprehensive Signature Packages streamline offerings, reduce client decision fatigue, and build trust by showcasing the med spa’s expertise and standardized protocols.

2. Branded Elevated Mini Offers (B)

These are enhanced versions of a la carte items, given unique, branded names to differentiate them from competitors. For instance, a standard microneedling treatment can be elevated to a "Smooth Glow Experience" by including additional services like a post-treatment soothing mask or LED therapy.

"By naming it something like 'Smooth Glow Experience,' you can charge more, improve the experience, and enhance the outcomes for your clients."
— Heather Terveen [15:20]

Branded Elevated Mini Offers help med spas charge premium prices while providing superior client experiences and outcomes.

3. Special Pricing and Skincare Systems (S)

Heather advises moving away from generic discounts and instead implementing special pricing strategies for Comprehensive Signature Packages and Branded Elevated Mini Offers. Additionally, she recommends creating named skincare systems tailored to specific outcomes, which can be sold as complete packages.

"We want to move away from those kind of discounts and we want to move any incentivized pricing that you have to helping our clients and patients to commit to more things."
— Heather Terveen [21:50]

This approach ensures that pricing strategies are aligned with the value provided, fostering client commitment and increasing overall sales.

Recipe Framework for Signature Programs

In addition to the CBS Menu Framework, Heather introduces the Recipe Framework for developing signature programs, particularly beneficial for med spas focusing on weight loss, wellness, hormone replacement therapy, and acne treatments. The Recipe Framework is an acronym that stands for:

1. Roadmap (R): Defines the timeline and cadence of the program, outlining the big-picture plan for clients.

2. Elevator Pitch (E): Crafting both macro and micro pitches to clearly communicate the program’s value and specific components.

3. Consult 365 (C): Developing a structured consult process with a proprietary name that guides annual client interactions and recommendations.

4. Intentional Support (I): Establishing unique support mechanisms within the program, such as regular check-ins or follow-up calls.

5. Proprietary Frameworks and Methods (P): Creating exclusive methods and systems that differentiate the program from competitors.

6. Education (E): Producing educational content, like guides, that highlight the program’s unique frameworks and benefits.

"The recipe framework is actually my proprietary framework for helping you create a signature program. It's designed to make your programs irresistibly unique and competition-proof."
— Heather Terveen [34:10]

Heather emphasizes that the Recipe Framework not only enhances program value but also positions the med spa as an authority and expert in its field.

Practical Application and Results

Heather reiterates the powerful financial implications of implementing these frameworks. Using her earlier example, she illustrates how shifting 30 out of 100 clients from a $2,000 annual spend to $10,000 can generate an additional $300,000 in revenue without increasing the client base.

"Many of you who are longtime listeners to this show will know [customer acquisition without a dialed-in offer] is a recipe for sometimes scaling your revenue but not scaling your profits at the same time."
— Heather Terveen [28:00]

By optimizing the service offerings through comprehensive packages and branded mini offers, med spas can significantly enhance both revenue and profitability.

Opportunities for Further Learning and Implementation

Towards the end of the episode, Heather invites listeners to explore further training and resources to implement the CBS Menu and Recipe Frameworks. She offers:

• Signature Menus That Sell: A comprehensive program detailing the CBS Menu Framework.
• MedSpa Advantage (MSA): An exclusive coaching program providing weekly sessions and team coaching to ensure successful implementation.

"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."
— Heather Terveen [48:30]

Listeners are encouraged to visit Heather’s website and social media channels for more information and to apply for these programs.

Conclusion

Heather Terveen’s episode on the Signature Menu Framework offers a strategic blueprint for med spa owners aiming to maximize their revenue through well-designed service packages and programs. By adopting the CBS Menu Framework and the Recipe Framework, med spas can enhance their operational efficiency, increase client spend, and establish themselves as authoritative leaders in the aesthetic industry.

"When you think about just even 100 clients or patients, and if 100 clients or patients are spending about $2,000 a year, that's about $200,000 in revenue. If we can help you shift, let's say 30 of those clients, clients or patients to spend more like $10,000 a year, which you can really simply do with packages and programs, that brings in an additional $300,000 in revenue with the same amount of customers, clients, patients."
— Heather Terveen [05:00]

By leveraging these frameworks, med spa owners can achieve substantial growth in revenue and profitability while maintaining high levels of client satisfaction and loyalty.

Resources Mentioned:

• Signature Menus That Sell: [Link in Show Notes]
• MedSpa Advantage (MSA): [Link in Show Notes]
• Instagram: @heatherturveen

For more detailed information and to access Heather's proprietary frameworks, listeners are encouraged to visit the podcast’s show notes or reach out via Instagram.