Dana Fox, Client Strategist
6 Minute Read:
As we welcome 2023 and start making our yearly resolutions, what should we choose to focus on?
Should we go on a diet, quit drinking, review last year’s revenue, and look at our appointment schedule for January? Or should we try something different?
Common Concerns Among Practices as We Set Our Sights on the New Year
As I speak with practices from coast to coast, a shared concern is whether potential cosmetic patients have any money left. Are they bracing for a down economy, a recession, or some other catastrophe? Or are they still looking to spend?
The truth is that the aesthetic medicine industry, like all luxury businesses, has an economic connection. However, even with that, some luxury products and services remain in demand, the economy be damned.
What I have experienced in over 35 years of being in the aesthetics industry as an owner and now as a consultant is that what we sell is intricately involved with how people feel about themselves.
People may give up some things; however, services related to their self-image and what makes them feel youthful and vital (or desirable) are not on that list. They might buy a little less often, but they still buy.
Now’s the Time to Get Your Name Out There
What does impact our industry is the “fear of loss” or “fear of less.” While some practices reign in marketing dollars and lay people off to balance this out, others view this as an opportunity to stand out.
These mavericks do more of everything: they offer specials, host gatherings, provide educational programs at Rotary, and actively check in on patients who are overdue for their fillers or HydraFacial® treatments. For these practices, it’s all hands on deck, and they include everyone in the office in this outbound marketing activity.
Since so many practices choose to lessen advertising, discontinue PPC campaigns, and reduce the number of eBlasts and newsletters they send, potential patients have fewer options to choose from. Because of this, those practices that remain visible can scoop up all that low-hanging fruit.
This happens every year and in every industry. A good example of this can be seen in real estate. Some of the most successful agents during the 2000s made their fortune during the worst real estate crisis in US history. And in truth, the aesthetic medicine industry is not that different. My point is that now is not the time to turtle inward.
Instead, let’s look at how to approach 2023.
Start with getting your team together for its first brainstorming and goal-setting meeting of the year.
This will need to include everyone in the practice and should begin with a thank you to your team.
The point of this meeting is to set realistic and achievable goals for the next 12 months.
Setting the Guidelines for a Successful SWOT Session
Here are some suggestions for how to structure your meeting:
- Start with a review of 2022: What milestones were achieved?
- What did you do especially well? What things need improvement?
- What do you want to do differently, if anything? Remember, this is not a lecture but a collaborative effort. Everyone needs to participate.
- This meeting must be a safe zone where ideas can be shared without retribution or ridicule.
- The best way to get participation is to conduct a SWOT session to help everyone share more openly. This is where the group assesses the practice’s Strengths, Weaknesses, Opportunities, and Threats.
- Make this meeting fun and provide food and beverages. People always respond better if you feed them. If it’s a dinner meeting, a little wine never hurts.
- After things get going and people start sharing ideas openly, the subject needs to shift to new goals.
- This is the opportune time for the leader to share revenue numbers from the previous year. It is also a good idea to share the expenses so that everyone can see what it costs to run a practice and how each person contributes to the bottom line not only by what they produce but by how they help the practice save or safeguard expenses and less waste.
- Discuss which campaigns were the most successful and why this may have been the case. In contrast, which campaigns were not as successful?
- Set new goals for this year. What do we believe we can accomplish this coming year? While we can often accomplish more than we think, we must stay in the reality zone. If goals are unattainable, they become points of discouragement rather than points that motivate us.
- With these goals in mind, how many procedures, and at what fee, need to be completed to be successful?
- What does each staff member need to do for the practice to reach its goals?
- In addition to the practice goals set by the leadership, encourage your team to have individual practice goals that they share with you or your manager privately. These can be educational, career advancement, or financial. Remember, these are their personal staff goals, so they can be whatever they choose. Doing this will give you great insights into how your staff thinks and how they can help you achieve your goals.
- As you do annual reviews, these staff goals become the framework for raises, promotions, and coaching. In some cases, it can even predict exiting.
- Meeting with your staff consistently to review goals and milestones will prevent any surprises and allow you to make minor course changes when necessary.
- Lastly, decide the carrots you plan to share with your team when the practice goals are met. Sharing the success of the practice with the people who helped get you there is not just a good idea, but it’s imperative if you are to continue to grow and prosper.
Implementing These Suggestions Into Your Practice
We are also doing these types of SWOT and brainstorming meetings at Plastic Surgery Studios, and we have noticed how smart our teams are and how much they have to offer the leadership of our company.
I have always found that if you give people an opportunity to shine, they will always step up to the plate. You always get more than you asked for, and some ideas are brilliant.
Naturally, you cannot use every idea presented by every person, but if you try to do all the heavy lifting by yourself, you often miss out on ideas you would never have come up with alone. Additionally, when one feels like they have been able to contribute, there is a personal satisfaction that builds self-esteem and loyalty, two outcomes that can only help to make your business more successful.
In next week’s blog, I’ll walk you through what is involved in hosting a successful SWOT Meeting, as there are some simple guidelines that will make this fun and beneficial to your practice. If you can’t wait until next week, call me for a personal walk-through at (425) 344-5177.
Happy New Year, and remember that all of us at Plastic Surgery Studios are here to help you make 2023 your best year yet.
Start the New Year With the Marketing Backup You Want
To learn more about how Plastic Surgery Studios can help you, contact us today by calling our office at (888) 525-6360 or filling out the contact form below. Our team members are standing by to help guide you through this uncertain time and explain what practices can help provide promising results.