For any aesthetics clinic, ongoing business success means putting in the effort to finetune your business strategies in a way that supports growing revenue potential. While building out business strategies can seem intimidating, the power of minor changes over time—small details that you take into consideration for your day-to-day operations—can make a significant difference to your aesthetics clinic’s success and revenue potential over time. Here, we’ve outlined five simple ways to experiment with your clinic’s business strategies to better boost your business’ long-term revenue potential.
The first step to boosting revenue is boosting your patient base. While the goal should always be to build out long-term patient-provider relationships, it should be assumed that a certain percentage of your patients may only seek your services for a specific concern and move on once they have achieved that aesthetic goal. For this reason, patient acquisition shouldn’t be taken lightly. Instead, it’s important to balance your communications with current and prospective patients, to build out strong retention and acquisition rates that complement each other and help to build and sustain your clinic’s revenue potential. Having a centralized system where staff can store and access patient details can help enhance your clinic offerings through trend prediction and customized treatments. Clear, consistent, and empathetic communication with patients shows them that you care about their personal needs and concerns and that your clinic is willing to go above and beyond to ensure they meet their goals. In other words, attention to detail is an easy way to boost revenue potential through patient trust and satisfaction.
Going off-script can significantly benefit your aesthetic clinic’s ability to hold successful initial consultations that easily funnel to conversions. While avoiding a hard sell is a top priority, listening closely to how your prospective patients express their concerns can go a long way in boosting sales without consultations feeling like a sales pitch. The first step is to determine whether a patient has sought out your expertise out of concern or excitement. Have they come to quell a persisting insecurity or are they driven by curiosity? While discounting services may seem like an easy path to securing patients, this tactic is unlikely to build strong long-term relationships with these patients unless the discounts are maintained or enhanced. Instead, listen to their concerns and offer customized solutions that speak to the specific details, worries, and questions they have expressed. Being present during the initial consultation and working with the patient to get to a place that they’re comfortable and confident in is the easiest way to make a sale without making the patient feel pressured. Consultations offer the best opportunity your clinic will ever have to convert a prospective patient into a paying patient, so ensure you put all your efforts into customizing a consultation that shows that your clinic truly appreciates the opportunity to speak to and serve these patients. A simple rule to ensure you remain focused during a consultation is to avoid focusing on the benefits of selling, and instead help your patients understand the benefits of buying.
Sometimes a patient needs more time to consider their options. Offering to send prospective patients home with an information packet with a promise to follow up is the best way to respect a patient’s pace. However, not following up with a prospective patient within a reasonable time frame is a common error that could limit your clinic’s revenue potential. There are a lot of responsibilities you and your staff need to cover on a regular basis, but remembering to follow up with patients should be treated as an ongoing priority as failing to do so could potentially send them straight to your competitor. Schedule follow-up communications and ensure your clinic keeps records of when patients are contacted. Ensure that this communications schedule also includes follow-up calls to post-treatment patients to ensure they don’t have any complications or questions regarding their treatment results. Get creative in your follow-up calls and ensure you take the time to let the patient feel heard and understood. These small pushes could be enough to drastically increase your conversion rates and boost your clinic’s revenue potential.
When investing in a new aesthetics device, consider options that could help to build your clinic’s revenue potential with smaller investments over time. One effective strategy is to choose a multi-treatment platform such as the Venus Versa™ that features multiple modalities and may help grow your service offerings simply through investing in new applicators over time. Rather than requiring an additional device and training, a multi-treatment platform offers the opportunity to tap into new ways to utilize a device simply by swapping in a new applicator and/or utilizing a different modality. Of course, staff training and software updates may still be required, but by using the same machine, these steps will be much quicker. In other words, your clinic avoids sustaining obsolete technology by investing in a multi-treatment device that can easily scale alongside your business while helping to expand your clinic’s revenue potential with each new applicator and added aesthetic service.
Investing in innovative technology offered through a revenue share program is an effective strategy to increase your profit margins while keeping device costs check as you grow. While the details of revenue sharing plans under different companies may vary, Venus Concept’s Revenue Sharing Program keeps our clients in mind by making it easier than ever for aesthetic professionals to gain access to the latest technology. Currently available with our Venus Velocity™ device, our Venus Connect™️ smart technology securely and accurately compiles data on your device usage and generates a monthly invoice based only on what you use. Data gathered through the device usage can better inform your clinic in validating your system performance, ensuring accurate monthly billing, having a better understanding of your usage, and in fine tuning your marketing strategies alongside your Practice Enhancement Manager. For clinics who choose to partner with our specialized 2two5™ advertising and marketing agency, this data is invaluable in developing a targeted marketing campaign to draw in more patients for ongoing business success.