Med Spa CEO Podcast Summary: "What Separates The Top 1% of MedSpas, Plus How to Fix Your Generic Offers and Stand Out In A Saturated Market"
Release Date: August 6, 2025
Host: Heather Terveen
Introduction
In this insightful episode of the Med Spa CEO Podcast, Heather Terveen delves into the critical factors that differentiate the top 1% of med spas from the rest. Focusing on the concept of brand equity and strategic positioning, Heather provides actionable strategies for med spa owners to elevate their offerings and thrive in a competitive market without sacrificing personal well-being.
Blue Ocean Strategy and Brand Equity
Heather introduces the concept of the Blue Ocean Strategy, a term popularized by the book of the same name. This strategy emphasizes creating a unique market space (“blue ocean”) rather than competing in overcrowded industries (“red ocean”).
“So, when you're in a service-based business, how do you create branded products for yourself? It's a great question, right?”
(01:30)
Heather explains that establishing brand equity is essential to differentiating your med spa in a saturated market. By building brand equity, med spas can move from competing primarily on price to creating unique value propositions that attract loyal clients.
Creating Branded Products
Drawing from her experience with an e-commerce business, Heather highlights the importance of developing branded products to build brand equity.
“When you decide to go all in on branded products, it's literally your creative genius coming up with the positioning of the things you are differentiating by zhuzhing what already exists and then recreating it as a branded product.”
(00:00)
Heather emphasizes that even in service industries like med spas, productizing your services with unique, branded offerings can significantly enhance your market position and profitability.
The Brand Power Ladder
Central to Heather's discussion is the Brand Power Ladder, a framework for elevating your business offerings to increase brand equity and profitability. The ladder consists of three key steps:
Step 1: Generic Offers
At the base of the ladder are generic, commodity services that are easily replicated by competitors. Examples include standard microneedling or Botox treatments without any unique customization.
“If you're at the bottom of the ladder, you are competing on price, but you're also delivering less results and outcomes.”
(12:45)
Step 2: Customized Treatment Plans and Series
The next rung involves offering customized treatment plans or series. This means tailoring services to individual clients rather than offering one-size-fits-all solutions. For instance, creating a personalized skincare regimen based on a client's specific needs.
“A customized treatment plan is when you and your team... customize a random list of services based on what you think on the fly is going to work for the human in front of you.”
(13:00)
Heather also distinguishes between customized plans and series, where series are bundled services (e.g., a set of three microneedling sessions) that provide more value than standalone treatments.
Step 3: Branded Solutions
At the top of the ladder are branded solutions, which include signature packages and branded, elevated mini offers (BMOs). These are comprehensive, high-value offerings that address multifaceted problems and deliver exceptional results, allowing med spas to command premium pricing.
“At the top of the ladder, where we have more brand equity, this is where you own the actual branded solutions... comprehensive, expensive signature packages.”
(13:45)
Heather encourages med spa owners to aspire to this level, where unique, branded offerings create a distinct market position and enhance client loyalty.
Keller's Brand Equity Model
Heather references Keller’s Brand Equity Model to underscore the importance of defining your brand’s identity and value proposition. According to Keller, brand equity is built through:
- Who are you?
- What do you do?
- What do I think about you?
- How do you make me feel?
“If the heart of your brand, literally the heart of your business, which is your offer, is generic... your brand equity is always going to be lower.”
(14:30)
By focusing on these elements, med spas can develop a strong brand that resonates with clients and stands out in the marketplace.
Case Study: Heather's E-commerce Success
Heather shares a personal case study from her e-commerce venture to illustrate the power of brand equity. Initially selling generic canvas tote bags and bridal jewelry, she transformed these products by licensing unique artwork and customizing designs. This strategic approach allowed her to differentiate her products, command higher prices, and build a loyal customer base.
“I ended up selling 10,000 units within 18 months of these tote bags. I was able to charge 40 to $50 per bag because I had branded products and brand equity.”
(06:47)
This example underscores the significance of investing in branded products to enhance profitability and market presence.
Applying Brand Equity to Med Spas
Heather translates her e-commerce experience to the med spa industry, emphasizing the necessity of productizing services to build brand equity. She advocates for developing signature menus that offer unique, branded solutions tailored to clients' specific needs.
“Everything that I have done in my career that has helped me succeed, there is an element of brand equity involved in building it.”
(15:00)
By implementing the Brand Power Ladder, med spas can progressively enhance their service offerings, increase client satisfaction, and achieve higher profitability.
Conclusion and Key Takeaways
Heather Terveen wraps up the episode by reinforcing the importance of brand equity in differentiating med spas in a competitive market. She encourages med spa owners to:
- Assess their current offerings and identify areas for customization or bundling.
- Develop unique, branded solutions that address specific client needs.
- Elevate their service offerings to move up the Brand Power Ladder, enhancing brand equity and profitability.
“My hope for you is that you can build incredible brand equity for yourself so that you can charge more, pay yourself more, work with the dreamiest, most amazing patients and clients in your market.”
(16:30)
By following these strategies, med spa owners can position themselves as industry leaders, attract loyal clients, and achieve sustainable business growth without compromising their personal lives.
Additional Resources:
For those interested in further enhancing their med spa's brand equity and implementing the strategies discussed, consider joining the MedSpa Advantage program. Visit heatherturveen.com/apply to learn more and apply.