A (23:21)
That's your. Now that's not a promo. That's your default price. Like, that's your Express. Like, I don't know, Express still does this. But I remember like when I used to shop there back in like post college years, for me, every single thing was always discounted. There was. You would never buy whatever their sticker price was on the clothes. That was never the actual price as far as I remember, ever. So that's what you've done to your other product lines too. This episode is brought to you by Med Spa Magic Marketing, my agency. We help Med spas and esthetics practices grow with more effective marketing strategies. And I know that's a vague phrase, right? That's a vague claim. So I have an offer for you. I offer this to any new prospects if you're interested in exploring any of them. Another marketing option, a new agency, or just getting into Facebook, Instagram, Google Ads for the first time. I'd love to show you why we're different, what we're doing for clients. And we can do that via a one and a half hour planning session where I'll outline a specific marketing plan and I'll give you all of the blueprints that we would implement if we were to do business together. Now you can take that, use that on your own, hire someone else to help you execute it or work with us. We really don't hold anything back on that strategy call. And I think you'll have a lot of confidence in how you manage your marketing investment moving forward. Understanding some of the nuances that can help you implement more effective marketing strategies for your business. So if you want to do that, you can go to medspamagicmarketing.com a couple other things that have come up in conversations recently. One that's been on my mind is sometimes I feel like we can come across as singularly focused in the, in the stuff that we recommend and it's not by choice. So we talk a lot about injectable promotion and I had a conversation with a client this week that's running microneedling ads and it just brought this conversation back to the forefront of my mind. It's not that we are inept or that we don't like other services in the med spa space. Like, right. We don't have a lot of videos on, like, here's what to run for, like microneedling ads or how to sell more of your like $2,500 laser no one's ever heard of. The reason we don't run that stuff is because the math doesn't work. So one little reminder I wanted to throw on our radar in the podcast today was for some of these services, even like a laser hair removal service. I wanted to talk about the challenge around the math for running promotions for those types of services. So if you're doing something like laser hair removal where there's not recurring revenue, typically right, people are buying whatever they're going to buy in terms of a package and then they're not typically coming back. It's a real challenge when you market those services. At times, because you squeeze your margin from two sides, you're dropping your price point to be competitive. Anytime you advertise to a cold audience, these are people that don't already know, like and trust you. You have to be price competitive because it's part of the buying equation. Most of the time you're going to have to be price competitive to attract the new clients. And when you're advertising, you're spending money to reach people, so you have acquisition cost. So you've squeezed your profit margin on something like laser hair. We've gone through this exercise with clients. I specifically remember one client, the bread and butter of their business was laser hair removal. And we looked at the math. It's not that you don't get results, you're going to get leads, you're going to close some deals. So if you don't look carefully at the math, some of these things can seem okay at a surface level. But sometimes when you start to look in detail at the math, you've realized by discounting, I've reduced my profit margin and by advertising I've added customer acquisition costs. And now my margin on this service that might not even lead to recurring revenue is almost non existent. It doesn't even make sense. So I want to take this to like another angle here, which is something like a microneedling package because we, we don't run a lot of microneedling ads for our clients. Lauren, correct me if I'm wrong on that, right? We don't do a ton of it. And the reason is not because it's not a good service to have in your med spa. The reason we don't use it with our advertising dollars is because if we're going to do that, what I just explained with laser hair removal successfully, we're going to have to discount dramatically. And this is why it's a problem on these services. And I'll explain in a second. We're going to have to discount dramatically and pay customer acquisition cost. So we've squeezed our margin down to almost nothing or very little again, and we're seeing fewer clients because the acquisition cost for those types of services is higher. So if we're going to break even on the first visit, I'd rather do it at scale with something like injectables than breaking even on expensive micro needling sessions. So I just wanted to talk about that because it came up again last week. When we really look at the math, like we're not saying no to this stuff just because we feel like it's. And I'm sure there's an angle and there's a way to do it and maybe we haven't figured out, you know, the perfect formula for some of these services, but over and over again, the reason we love putting our ad dollars behind injectables. It's the most cost effective gateway drug to your med spa space. It's something that has relatively low customer acquisition costs. You can break even or better on the initial visit and you can do so in large volumes. And the reality is now when you sell your micro needling package to your Botox client, you could do it to someone who know, like and knows, likes and trust you based on personal experience at a normal price point with no additional customer acquisition cost. And those upsells add massive profitability to your med spa. So there's a reason we're not saying when we talk in our conversations with clients that those are not good services. It's that they might not be good services to lead with in terms of your advertising dollars. Same thing, I think, with IV therapy. Another good example. Anything to add to that conversation, Lauren? That was something that was on my mind, so I wanted to talk about that. Then I had one more.