Running a successful medical spa doesn’t happen overnight. Years of hard work must be spent to fine-tune and improve operations to address customers’ needs properly.
While about 80% of small businesses survive on their first year, only about half breach their fifth anniversary, and a third will continue until the tenth year. Various factors, including lack of finances, market problems, and mismanagement, contribute to business failure. And medical spa businesses aren’t immune to such challenges.
On the other hand, guaranteeing a profitable medical spa venture requires constant improvements to achieve growth and gain an industry foothold. Here’s a brief guide to show you how it can be done.
- Automate your workflows
The medical spa sector was worth USD$16.4 billion in 2022 and is projected to rise 14.97% from 2023 to 2030. These figures mean that there are opportunities and a huge demand for scientific treatments that promote a person’s confidence and well-being. As such, it’s fair to expect cutthroat competition.
One of the many ways to stand out is to automate workflows. Using online booking platforms for medical spas helps businesses provide great client experience from the get-go. And as many business owners know, first impressions are important to today’s consumers. If companies can’t meet or surpass the target market’s expectations, they’re setting themselves up to lose.
- Focus on customer satisfaction
According to the American Medical Spa Association, chemical peels, facials, hair removals, Botox and other filler injections, and microdermabrasion are a few of the most in-demand medical spa treatments.
Identifying your potential market and in-demand services is great, but it’s even more important to know your clients better. Learning how to satisfy your client’s expectations and fulfilling certain demand gaps can add value to your company. According to a recent consumer survey by PricewaterhouseCoopers (PWC), customers are willing to pay up to 16% more for a premium customer experience.
Knowing what draws them in and how they like their services done is key. In addition to making them feel heard and valued, listening to customers enhances your marketing strategy in multiple ways.
- Eliminate significant market and marketing problems
Marketing-related challenges continue to plague businesses today. Failure to spot significant market issues can push a medical spa clinic to obliteration. A company that fails to identify its market properly or address a need will lead to a weak business plan. Similarly, an enterprise without solid marketing and sales tactics will suffer even if they have the best products and a unique value proposition.
Before setting up a business, proper market research should allow you to identify the essential elements like services and products to be offered and your clinic location. An omnichannel marketing strategy is crucial to optimize your reach, generate high-quality leads, and close them. Strive to identify the best mix of traditional and non-traditional marketing platforms and monitor your performance regularly. Knowing where you stack up against the competition and constantly improving your tactics increases your success rate.
- Keep learning
To learn the ropes of the business, a business owner like you must have ample experience in the industry and how specific medical spas operate. Securing a position in an established clinic is a good start. While familiarizing yourself with the operational elements, attend training and classes meant for aestheticians to gain valuable skills and be able to train and coach your staff.
Updated training and professional certifications are a must in most businesses, as technologies emerge rapidly in the medical spa sector. Ensure that your clinic and staff possess mandatory and additional accreditations.
- Invest in the proper equipment and technologies
Being updated on new technologies can benefit your business by attracting more clients. More than anything, experts from PWC suggest companies invest in technologies that facilitate speed, convenience, friendly service, and knowledgeable help. At the same time, consumers often view newly released equipment and cutting-edge methods as more effective and of better quality.
However, ensure that proper studies have been conducted on the efficacy and potential side effects to protect your investment and your firm from malpractice lawsuits. More importantly, invest in your clinic’s cybersecurity capabilities to avoid costly breaches enough to shut down even the most lucrative organizations.
- Treat your employees well
Aside from your brand logo, your staff members represent your business. How they treat your customers is a solid reflection of your services. Train your staff well, create clear-cut policies and procedures, and strive to provide them with a good work-life balance. The last thing you want in a service-based business is to have unmotivated and exhausted employees.
Like your clients, your team needs help to improve their mental health to do their jobs more effectively. Equipping them with adequate resources, monitoring their performances, and providing them with upskilling opportunities can significantly enhance your company.
- Explore revenue opportunities
Medical spas mustn’t rely on providing anti-aging, slimming, and confident-boosting services alone. Besides, optimizing the effects of the procedures requires consistency. Capitalize on this by offering products your patients can take home to use pre- or post-session. For instance, a patient would need specialized topical creams following chemical peels. Create an effective product line that addresses post-treatment care at home.
More importantly, don’t miss any opportunity to upsell to your regular clients or launch promotions for every successful referral.
A medical spa business seamlessly integrates business acumen and medical, as well as marketing expertise. Following the tips above will help take your business to new heights by increasing online and foot traffic, enhancing operations, increasing revenues, and providing better services.