Industry • Best Practice
Boosting Your Bottom Line: Proven Revenue-Generating Tactics for Medical Spas
Jul.06,2023By Boulevard Staff
Learn some time-tested strategies to help you get that money
Starting a medspa business is a significant investment (and that’s putting it mildly), so naturally you’ll want to begin generating revenue as soon as you switch on the “Open” sign. But while aggressive marketing strategies may help you drive growth in the short term, you’ll need to come up with ways to boost your profits in a sustainable way long-term, which is where tried and tested revenue-generating tactics come into play. Let’s talk about a few of them.
Curate the best client experience possible
Let’s start with the obvious: Happy clients are good for business. Taking time to focus on providing an exceptional client experience can pay off dividends in the future, both by providing predictable streams of income and also by creating new opportunities to add to the bottom line. Here’s how to make sure that every interaction you have with your clients leaves them wanting to come back to your business — and tell their friends about it later.
Use an intuitive, mobile-friendly booking system to make it as easy as possible for clients to book an appointment with you. People are busy and counting (hoping!) on them to find the time and energy to make a phone call or open up their laptop creates an unnecessary barrier to you getting more people in chairs. Give clients the ability to browse available times and schedule a service on their phone, and not only will they be more likely to follow through on booking an appointment, but they’ll also appreciate you for making at least one thing on their “To Do” list a breeze.
Once a client schedules an appointment with you, get to know them! An online form, which can be folded into the booking process is a great way to learn about what your client’s needs are so you can have the right suggestions and products at the ready when they arrive. Take the opportunity to get to know them not just as a client, but as a person. Ask ahead of time what their aesthetic goals are, if they’d like sparkling water or a coffee, and encourage them to share their social media accounts. The more they feel like their happiness matters to your business, the more likely they are to stick with you — and spend.
Make sure your team is trained on every step of service that they are qualified to perform and any accompanying products. Clients should feel like they are receiving valuable insights from experts instead of being sold to, which also makes them eager to come back and helps you drive revenue through product sales and repeat business. If a client is coming in for a laser treatment, for example, ask them about their current skin care routine and what products they use, as well as any other skin concerns they may have. This information allows your technician to tailor the service to the client’s needs as well as preview the most appropriate products, which the client is then more likely to buy.
Capture more leads with set-it-and-forget-it marketing
Capture more bookings and get current clients in for their next appointment with these revenue-boosting marketing strategies that don’t require an entire client services team.
Automated follow-ups and reminders
Driving revenue isn’t always about bringing in more money; sometimes it’s about finding a more efficient way to do what you do. Automating marketing messages in your client experience platform takes the pressure and administrative burden off your team, leaving them more time for servicing clients. Don’t think that because they’re automated they’ll lack the human touch that makes your clients fans of your business; software like Boulevard lets you personalize your messaging so that every communication feels meaningful.
Drive new business with referrals
Promotions help you bring in more clients and retain the ones you already have. Perks, discounts, and special offers can be given as rewards to clients who referred someone as well as to new clients, as an additional incentive to come in and spend money at your medspa.
Much like reminders and confirmations, these programs can be run seamlessly on your medspa software platform without requiring a team member to track offer codes or manually send out promos.
Engage with the larger community
Partner with other self-care businesses in your area, beauty training schools, and local non-profits to host pop-ups and participate in each other’s events. Going out to the high school bake sales and art festivals can help you expand your potential reach and help you make connections. While these tactics may not generate revenue overnight, they will pay off in the long run by establishing your medspa as part of the neighborhood and could lead to valuable partnerships down the line.
Don’t forget to document this engagement on your social media pages, where you can tag other businesses and cross-post highlights from your event to increase your visibility. You can also ask clients to tag you on their social media handles if they are comfortable with sharing their skin care or wellness journey. None of these techniques may feel like traditional marketing — after all you’ll be mostly just talking to people — but they help you grow your clientele and subsequently, your revenue, over time.
Optimize your service menu and pricing
Be mindful of your pricing and always check that you’re charging within industry standards for a particular service or product. Make quarterly assessments of how far your team has come in expertise and proficiency and whether it’s time for a price increase on certain services.
Master upselling as client education
Your technicians and receptionists should also look for ways to add to your client’s experience with enhancements and add-ons that complement the original service they signed up for. As we briefly touched on earlier, your team members should act as trusted approachable experts dispensing tips and advice, not salespeople. Embracing upselling as client education builds trust with your clients, and is often more effective at getting people to buy the products they need.
Get discounts right
If done correctly, discounts help you get rid of product inventory and boost revenue, but keep in mind that they should be time-bound to drive urgency and encourage clients to purchase items as quickly as possible and priced in a way that does not eat into your profits.
Follow trends on the latest treatments
Clients are going to be asking about the latest treatments, so it’s best to stay ahead of the curve by keeping an eye on new trends and providing your staff with training. Offering the latest and greatest allows you to charge premium prices for your services, which of course helps your margins.
Track your numbers
You can’t make meaning of your revenue numbers if you don’t measure them. Trying to generate revenue for your medspa without any support is a bit like playing darts in the dark. No one really knows what’s going on and you may end up hurting instead of helping your business. You’ll need a way to track your efforts, provide exceptional client experience, and communicate with clients and your team.
Look at weekly and monthly revenue numbers and compare results after trying different marketing strategies
Compile reports to present to potential investors and partners
Keep a close eye on which services are most popular and most profitable (they may not be the same service, but you’ll want to double down on them)
See if your revenue is in line with industry averages as a way to compare where you are
(Not to toot our own horn, but ICYMI, Boulevard customers have access to all of these features, plus much more.)