Transcript
A (0:02)
Hey, everyone. I'm your host Ricky Shockley with MedSpa Magic Marketing. And this is the MedSpa Success Strategies podcast where MedSpa and Aesthetics practice owners come to discover strategies and tactics that help them better market and manage their practices so they can grow, improve profitability and have greater impact. Today, I'm excited to be joined by Jacqueline Luongo. Jacqueline is the Vice President of Business Development and brand partnerships for PDO Max, bringing over 25 years of experience to the aesthetics industry. She serves on the Board of Directors for the Melanoma Education foundation and holds advisory roles with NASN Pro and the Kathryn Hines Institute of Aesthetics. The author of Successful Selling in the Beauty Industry and a contributor to Pulse Magazine, Jaclyn also volunteers with the Global Wellness Institute and ispa. She focuses on empowering aesthetic and med spa businesses to increase revenue through strategic retail, sales and business development initiatives. So today we're talking all things vendor relationships, how you as a med spa owner can take advantage of your vendor relationships and some of the things you might be missing to help you level up the growth and success of your med spa. So I guess, Jacqueline, we had a whole series, you and I, probably our first conversation could have been recorded as an episode.
B (1:10)
Right? Right.
A (1:11)
That happens sometimes. I should have just done that in the first place. Let's just start, hey, reframing vendor relationships. The overview. What are people missing when their vendor relationships.
B (1:20)
Well, I, with 25 years of experience, I have always said there is always missed opportunity from the managers, the directors out there to know what to ask from your vendors, from your reps, because there is so much that from the vendor side that we do have as assets. And I feel like it isn't always accessed and taken advantage of because whether it is that communication piece and there's so many vendors that have portals out there that really maybe only 50% of it is accessed and really taken advantage of. And so I have always felt strongly to, with my reps and any leadership that I've ever had in companies to say we need to sit down with our owners, with our managers, and share everything, put it on the table verbally, give it access digitally, and then you have the full, full umbrella of what is offered. And things like that have to do with starting with the tiers, just knowing what your vendors have to offer. And I've always believed in the power of buying. So the more you buy from one vendor, of course, the more loyal you are, but in return, you're getting more in return. Sometimes there's rewards, sometimes there's Quarterly kickbacks that an account can get because of the volume that they're purchasing. Sometimes there's more exclusive bundle packages because you are, you do have that higher buying power. So really thinking about minimalizing the amount of vendors you buy from, that's a starting point and asking the right questions with your vendors. Seeing the value in having these meetings, I know everyone's busy. I know that it takes a lot to set that 30, 60, 90 day plan with your reps. But it is so valuable in the long run because it adds to your profit margin, it adds value to planning. And why not have your reps help you build your business, access the resources that are available to you? Because I don't think that's completely tapped into by most accounts.
