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7 Steps to Successfully Market Your Business Part – 1

Posted on March 23, 2018 | by Marita Carroll | in Uncategorized

One of the fundamental action steps involved in any successful med spa business operation is creating and implementing a marketing plan. A market is a group of buyers—or in the case of aesthetics, patients or clients—who need services and products. Your marketing plan consists of several components, and my top 7 tactics are described below.

Before writing a marketing plan, it is necessary to define your target market and to understand their needs. This involves conducting market research, interviews to provide insight on what your prospects really expect. Todays consumer is savvy.

 

  1. What’s Your Mission Statement?

A mission statement is one to two sentences that describes what your intentions are for your business. The mission statement clearly and succinctly describes the nature of the business, services offered, and markets served. It may be short and sweet, but we need to have a team of people who believe in it completely and act upon it to reach the business goals.

 

  1. Aim for Your Target Market

Why Patients/Clients Consider Your Products or Services

Why are clients considering you? Is it Ageing, A Self Esteem Boost, A Special Occasion, Lifestyle Change, or Work Related? Key in to their need and plan a strategy with them to win. Include the timeline and steps it will take to get them to the finish line. This is also very helpful if they have their own deadline date. Be their coach!

Usually the top 20% of your patients or clients bring in 80% of your revenue. It is important to define exactly who you’re looking for and be in an area where they live or work. Describe potential groups of patients or clients. After you create the list, identify various segments of a market. Segments can include specific types of people—for example, women ages 30-65 who make more than a $100K per year and can come into the spa monthly, receive at least 2 treatments, and buy 2 retail products before they leave. Get specific about what you want.

  1. Sell Your Services by Benefit.

As mentioned above, it’s necessary to conduct market research to understand your market and to identify the services they require. At the same time, inventory the services you currently offer and identify new services you wish to provide. Determine what it will take to provide these services in terms of staff, expertise, and costs.

It’s all About the Bennies

What are your business’ features and benefits? Remember the features and sell by the benefits! People only buy for two reasons. You are offering a solution to their challenge or you are providing the opportunity for good feelings. If it isn’t one of these, they are not going to buy.

  1. Define Your Marketing and Promotion Strategies.

The key for successful marketing in the spa or practice is understanding what makes someone want to use or buy services and what type of marketing strategy they respond to. This requires you to learn needs, problems, industry trends, and buzzwords. To get up to speed for a business market, read trade journals and attend professional conferences to meet prospective users or buyers in person. Become active in various groups whenever possible and form strategic alliances. Find out what works best for the markets you serve. Check out groups on LinkedIn such as Medical Spa and Business Planning, Aesthetics & Beauty, and Spas Worldwide.

Some core marketing strategies include the following:

Network, either in person or electronically, by participating in discussion groups online where your target markets congregate.

Professionals who belong to at least one networking group make on average 20% more than their counterparts who do not.

The good news is that the most effective ways to grow your business are universal always and the difference is that right now it is critical to act. The sure-fire way to gain more clients is not through more expensive advertising that is not traceable. Social media is very important, but it is through networking and face to face marketing that can really seal a deal. It is low cost and all results can be tracked to see where your efforts are paying off.

From your clients sending in friends and referrals to having each of your staff members belong to at least one networking group is essential for business sustainability. Getting out and more importantly getting up and talking about you and your business is not easy. The best opportunities in life are not easily had and come with a little work and ingenuity. The good news is that you do not have to reinvent the wheel and there are opportunities already developed.

Networking is a reciprocal process based on the exchange of ideas, advice, contacts and referrals. It is an imperative aspect of business building for owners and all the employees of businesses.  Since networking is a social activity that most of us do every day as we exchange information with others, it is only natural to parlay daily networking to increase the client base.  Networking can be done anywhere with anyone.  However, as busy working professionals, it is a must to identify the necessary keys to successfully maximize all the opportunities.  Otherwise, it can be a waste of time.  To begin a profitable networking program requires a commitment of the entire business team.  Begin by explaining to the team the benefits in its most basic form.  Place emphasis on the rewards the staff will receive, more business, steady clientele, not how the business will benefit.

Identify the Networking Group

There are many different networking groups empowering and   motivating people who want to expand the possibilities for generating business. Identifying the right group takes a bit of time, however it is time well spent.  Research the groups that are available in your community.  There will be several types available and all have different ground rules for how they are run.  It is best to choose a group that only allows one member of a specific profession to join.  Another key point is to be realistic about the availability of you and your staff.  The ability to attend networking meetings is essential to your success.  Encouraging your staff to share a leads group is a great way to maximize opportunities while providing good support and motivation for the team.  Networking meetings, even for the most social of people can seem like a daunting task.  By sharing a group, the staff member will be able to fully commit to the process, knowing they only must attend an event every other week and have back up to share the responsibility with.  The networking group is only as good as the members it has.  Visit the perspective groups in the area and get a feel for the people who are participating.  Make sure this is a match with your personality and objectives.  While you are observing the group, pay attention to how many qualified referrals are passed.  This is the standard to measure the group by.  If there are not a lot being passed, this could be a sign of an ineffective group.  Remember, you are there to build client relations, not just to socialize.  Good groups to check out are Business Networking International (www.bni.com) LeTip (www.letip.com), National Association of Women Business Owners (www.nawbo.org) and of course the chamber of commerce.

Direct marketing involves sending out follow up letters, service menus, or special offers on a regular, repeated basis to the same group of prospects. Direct marketing can only work if you speak the language of your target market and contact them consistently.

Advertise in print media or directories, often with a specific offer to reap the benefit of an immediate response or sales. Advertising lends credibility (image advertising) and, like direct marketing, must be continuous.

Building the Relationships

Though Networking vastly enhances your odds of receiving positive responses, building rewarding relationships can take time. Persevere and you will ultimately be successful. It is equally important that you stay committed to the networking process if you meet with success early on.  Remember that one great relationship is not enough as circumstances can change quickly. When you first begin actively networking, make a conscious commitment of 6 months to 12 months.  Keep in mind, the only way to protect your business against the effects of a naturally diminishing referral base is to keep expanding your network and always follow up with those you meet.  The foundation of a strong network is based on trust and establishing a history of mutual assistance.  Maintaining communication with professionals with whom you connect with is crucial.  Through regular and consistent follow up you can stay updated on their changing needs and goals and remind them of your own.

Networking takes time and will be ever-evolving. You will always have opportunities to meet new people to add to your list of contacts. Once you have established a relationship, identify the people who can help you, stay connected, and keep your network growing.  Remember to stay motivated, attend events consistently and keep in touch with all those you meet.  Working with those three keys will guarantee continued growth and success for your business.

Devise training programs that increase awareness about your services.

New client growth, retention, and cross service utilization is at the top of every owner’s wish list.  One of the best profit centers is hosting special events within your facility. As matter of fact, I think it is in the top three most effective strategies for growth along with a consistent social media program and community networking groups and functions. They all have a direct impact on customer relationships and subsequently, profits.  Stay tuned for part 2 coming next month!

Yours in Success,

 

 

Bryan Durocher

Durocher Enterprises Inc.

Phone: 406-863-9448

www.durocherenterprises.com