Show notes
š
Schedule your free 30-min strategy call with Catherine āļø Restart your practice in 7 days ā¬ļøā¬ļøā¬ļø Hello, and welcome to Beauty and the Biz where we talk about the business and marketing side of plastic surgery and 5 Shifts to a Steady Stream of Cosmetic Patients. I'm your host, Catherine Maley, author of Your Aesthetic Practice ā What your patients are saying, as well as consultant to plastic surgeons, to get them more patients and more profits. Now, today's episode is called "5 Shifts to a Steady Stream of Cosmetic Patients." It takes a certain mindset to succeed today in regards to 5 shifts to a steady stream of cosmetic patients. You have to think different, then be different to attract a steady stream of patients you want, whenever you want, at the price you want. So, if you've been struggling with the yoyo-ing revenue from month to month that keeps you up at night because you're anxious about covering your overhead, this episode is for you. This came about because I watch so many practices advertise specials and I get it...you're trying to attract new cosmetic patients but that hurts your profit margins and typically, these patients are those price shoppers who nickel and dime you to death, which is not part of the 5 shifts to a steady stream of cosmetic patients. And social media has become a popular patient attraction strategy; however, when done right, it takes a ton of your own personal time because prospective patients want to see, hear and watch YOU.Ā That's what keeps them engaged so now you're not only the service provider, you are also the marketer and social media influencer. But there's a creative way for you to increase the number of cosmetic patient visits, referrals, reviews and shares on social media, so your existing patients enthusiastically grow your practice for you. The key word here, in regards to the 5 shifts to a steady stream of cosmetic patients, is existing patients because they are your lowest-hanging fruit and the fastest, cheapest, easiest way to more revenues because they already know, like and trust you.Ā That means, you don't need to put on a show for them. They are open to you and are much more apt to respond to you, so it's always smart to start here first. Because you know how much easier your job is when you're working with patients you enjoy vs. those you don't enjoy because they zap your energy. You know those patients that are demanding, rude to your staff, freely negotiate with you and make you regret ever inviting them into your practice in the first place.Ā You just don't need the extra hassle of undesirable patients so let's fix that so you can succeed at the 5 shifts to a steady stream of cosmetic patients. It no longer makes sense to play the quantity game by spending more on advertising to attract a bunch of leads your staff has to follow up on that wastes their time and wastes your time when they don't show up for consultations or they show up, but say they have other consultations with your competitors so they can't commit. You don't need that aggravation. I want to give you a step-by-step strategy to attract a Steady Stream of High-Paying Patients..... Ā ... Without outrageous ad budgets, discounting your services or your competitors stealing your patients. So, Does any of this sound familiarā¦.. Do you lose cosmetic patients and revenues to the ever-growing number of competitors surrounding you (who may be utilizing the 5 shifts to a steady stream of cosmetic patients), even though you believe you provide better results?Ā That competition is NOT going away and is only going to get worse as gov regulations increase and insurance reimbursements decrease and as advancements in technology give patients so many more surgical AND non-surgical options. That last point affects you bigtime because patients will delay an expensive surgical procedure if they believe they can get a good enough result non-surgically in the short run from a non-surgeon - even if it ends up costing them more down the line.Ā And studies show, as it relates to the 5 shifts to a steady stream of cosmetic patients, if you don't develop a relationship early on with a patient who wants non-surgical procedures, you won't get them when they are ready for surgery because they have developed a relationship with your competitor instead. Just sayin... Or maybe you are bringing in good revenue but by the time you've paid for your marketing, staff, office and equipment, there's virtually nothing left over for you? Because the sign of a successful practice is if you pay yourself a nice salary AND you have money left over. And/or are you working WAY too hard and dealing with too much stress and hassle for what you're getting paid? And what about the constant state of uncertainty that the government, or a pandemic, or the economy and/or technology could put you out of business without a moment's notice?Ā This is why you need the 5 shifts to a steady stream of cosmetic patients. So, what's the Real Problem and How do You Fix This? Well, one of the problems is too many agencies and internet marketers are promising you the world, but rarely do you see the results you were promised so you're frustrated and skeptical and for good reason.Ā If any of that sounds familiar, then I have good news for you because none of those are the real problem. Those are just symptoms.Ā The real problem is that you have not made the 5 SHIFTS needed to set up a truly profitable practice you enjoy. Because once you make these 5 shifts to a steady stream of cosmetic patients, You have peace of mind knowing you have an automatic system to attract a steady stream of cash-paying patients you can count on to grow your revenues. You feel in control with a predictable and reliable plan to keep your revenues coming in month after month and all year long.Ā If you have experienced killer months and then crickets, you know what I'm mean. This often happens because our industry can be cyclical so it's important to have a plan to avoid those feast and famine periods that cause you angst. And, once you make these 5 shifts to a steady stream of cosmetic patients, you lock out your competitors and make it impossible for them to steal your patients away because your patients are loyal to you and see you as the ONLY choice, as well as the BEST choice. It's liking putting golden handcuffs on your patients so they wouldn't dream of going anywhere else. And here's the best part once you make these 5 shifts to a steady stream of cosmetic patients. You go back to enjoying your work because you are able to scale and grow a sellable practice should you decide to exit in the future....or not. It's your choice! The 5 shifts to a steady stream of cosmetic patients Now I discovered these 5 shifts to a steady stream of cosmetic patients after consulting with hundreds of cosmetic practices for more than 2 decades, I noted what the TOP cosmetic practices were doing that other LESS successful practices weren't. I shared this with my clients and now they get unbelievable results because they made the 5 key shifts to a steady stream of cosmetic patients and here they areā¦.. Shift #1:Ā Patient Centric vs. Money Centric When you make the 5 shifts to a steady stream of cosmetic patients, your thinking from a "One and Done" money grab event to a "Patients for Life" mindset, you win the long game because.... Instead of thinking about your own bottom line and what's best for you, you think about what is best for your patient.Ā These 5 shifts to a steady stream of cosmetic patients in thinking changes your perspective as well as your attitude about the services you provide. You now see and treat patients as family and friends. They see your practice as a friendly safe haven. They trust you and your staff to take good care of them.Ā That trust is what keeps them coming back again and again. Think about it this way.... You cater to a very hungry audience of cosmetic patients who care about their appearance.Ā They have endless needs for a lifetime, thanks to the aging process.Ā So today, they may want Botox, then a laser treatment and now they're ready for surgery and then back to non-surgical treatments to keep their look fresh. This goes on for decades.Ā So, commit to treating your patients like friends and family by giving them 5-star customer service and they will stay with you for the long run.Ā They will also reciprocate by growing your revenues for you by returning to YOU rather than your competitors. And by referring their friends, family, coworkers and neighbors.Ā And by giving you great online reviews that thousands of other potential patients will see online. And by sharing you on their own social media platforms so THEIR followers get to know you and contact you because they're ready for your services. Think of your cosmetic patients as your lifeblood to all you want in lifeā¦such as a fulfilling livelihood that affords you a comfortable lifestyle that supports your family, your interests and your financial future. When you start looking at your patients in this different light, that changes your perspective, as well as your attitude and your patients feel these 5 shifts to a steady stream of cosmetic patients and act accordingly. Shift #2: Drop the Discounts There are only 2 reasons why you're not charging higher prices, or worse, discounting your cosmetic servicesā¦ The first one is you think this industry is commoditized andĀ Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā your expertise isn't worth higher pricesā¦ORā¦. You think you will lose patients to your low-balling competitors Ā Ā Ā Ā Ā Ā if you don't discount. But here's the thing...discounting doesn't work. You'll end up attracting price-shoppers who only care about a low price.Ā You'll work way harder because you need more of these low-priced patients to make a profit. And you'll deal with more issues from these penny-pinchers who end up giving you bad reviews and complaining about your service (or lack thereof).Ā And frankly, it's a race to the bottom that you can't win. Instead, you set higher standards to attract higher value cosmetic patients who gladly pay more for great customer service.Ā This group enthusiastically brags about you to their other high-value friends, leaves you 5-star reviews and is a pleasure to work with. When you really get this, it changes everything. So rather than discount, you set higher standards for great customer service and processes, so your patients have a WOW patient experience every time.Ā That's because you have enough revenues coming in (which is a key result of the 5 shifts to a steady stream of cosmetic patients), to treat your patients better than if you are penny pinching on expenses and cutting back on the very things patients will pay extra for such as smooth processes and special treatment. In terms of your revenue goals, there's an easier or harder way to get to $1 million. For example: You can cater to the "price shoppers" who are worth $500 to you so you need 2,000 of them OR you can raise your standards, attract better patients who have the financial wherewithal to pay more for a better experience, and become your practice ambassadors who are worth $5K to you so now you only need 200 of them.Ā That's how you scale and work less but get better results. Shift #3: Use a Secret Weapon The majority of cosmetic practices go about attracting new patients and growing their revenues by doing what everyone else is doing and then wondering why it's not working in regards to these 5 shifts to a steady stream of cosmetic patients.Ā Oftentimes, they don't even know if it's working or not because they have no easy way of seeing the results. For exampleā¦. The OLD traditional methods of getting new patients are to spend a ton of money on: New website designĀ And SEO using content and backlinks to get ranked And Google AdWords Maybe even a PR agency to get you exposure And directories like RealSelf And even billboards And charity events That's what we call the "hope and pray" marketing approachā¦.Hope it's money well spent and pray you get new patients from it so you feel like you made a good investment. There is a better way within the 5 shifts to a steady stream of cosmetic patients, and here is the secret weapon.... An exclusive Loyalty/Rewards Club that is the most powerful way to scale for predictable revenues without advertising or discounting.... ....AND while turning your existing patients into your raving fans who gladly grow your practice for you, so you no longer worry about "slow spells" and covering your overhead. It does ALL of this while developing lasting relationships with happy patients you enjoy working with. So, you encourage your patients to return more often, refer their friends to you, give you great reviews that thousands of other prospective patients see online, and share you on social media with their OWN followers ā all leading to new patients for you organically, without you spending an extra dime. A great aspect of the 5 shifts to a steady stream of cosmetic patients. So, the new way is simple. You pull your entire list of existing patients, and it doesn't matter how long it's been since they've been in to see you. Many will return after being gone for many, many years. Now you make a marketing plan to consistently stay in front of these patients, so you are top of mind and when they are ready, they choose you. Then you reward them for their loyalty and for helping you grow your practice and reputation online. For example, you make it fun for your patients to grow your practice for you by rewarding themĀ when they return more often, refer their friends/family, write a review, approve their B/A photos, share you on social media, shoot a video testimonial, and completingĀ SX can be optional. A key component of the 5 shifts to a steady stream of cosmetic patients. And when your patients collect enough rewards at different tier levels, they are rewarded with Free cosmetic services. Shift #4: Retention is the New Patient Attraction Strategy Because of intense competition and the Internet and social media, it's gotten increasingly more difficult, technical, confusing and time-consuming to attract new cosmetic patients.Ā So, retaining your cosmetic patients through the 5 shifts to a steady stream of cosmetic patients has become the more direct route to more revenues. Not sure about that?Ā Consider these recent stats showing you how: It costs 7X more to attract new patients than to retain existing patients Loyal patients spend 67% more than new patientsĀ The average new patient conversion rate is only 5%-20% while the average existing patient conversion rate is a whopping 70%-80% Existing patients spend 31% more on their average order size value and this makes sense because your existing patients already know, like and trust you and are much more open to your recommendations and extra products and services you offer. A 5% increase in retention can increase your profits by 25% - 95% because you're not wasting money on needless advertising or hurting your profits by discounting. You're also NOT wasting a ton of time following up on bad leads. On top of that, your conversion rate is so much better, so your valuable time is spent with patients who say yes rather than with price-shopper strangers who never book. Lastly, 46% of patients spend more after they join a loyalty program and 83% of patients say a loyalty program keeps them coming back. THIS is how you leverage your time with your preferred patients who are worth 10X more to you with these 5 shifts to a steady stream of cosmetic patients. And you stop wasting your time with those who nickel-and-dime you and then bolt for the next special deal from your competitors. And here's Shift # 5: Invest in Expertise Everyone should have a mentor or "counsel" that gives them new ideas and provides accountability. In your case, your mentors were seasoned surgeons showing you the way of surgery. In this case, we have been talking about the business and marketing side of surgery so I'll bet there are new ideas forming in your head right now that would not be there if you hadn't taken the time to listen to this and these 5 shifts to a steady stream of cosmetic patients. So, here's how it works: It starts with your mindset and your beliefs about what is possible.Ā Then you take action and actually DO something based on those beliefs. And then you get an outcome which is typically an increase in your income, your happiness and your satisfaction. However, if you're not happy with the revenues in your practice, that means you need a new mindset, a new plan, and accountability. Frankly, you need an experienced mentor who can pave the way to your progress and show you the shortcuts with the 5 shifts to a steady stream of cosmetic patients! All of the above is possible if and ONLY if... You are committed to growth. Just like you invested in becoming a surgeon, because trying to do that WITHOUT proper training is crazy. As a side note, I personally have invested at least $140K on training and mentoring for my own business, and every time, it was a BIG decision, as it was when you invested all that time and money to become a surgeon. Now, that investment pays for itself over and over, doesn't it? The point is, don't go it alone with these 5 shifts to a steady stream of cosmetic patients. Find the best expertise out there and spend what it takes to work with them. So, to recap, here are the 5 shifts to a steady stream of cosmetic patients that you need to make to win: Shift 1 - Patient Centric vs. Money Centric Shift 2 - Drop the Discounting Shift 3 - The Secret Weapon Shift 4 - Retention is the New Patient Attraction Shift 5 - Invest in Expertise These 5 shifts to a steady stream of cosmetic patients alone are enough to propel you to a multi-million-dollar practice. So that leaves You with a choice... You can stay stuck and keep throwing money at advertising that isn't working and wasting time on consultations that don't book or you can give up altogether and watch your patients and revenues slip away and now you can't get them back ā¦. But that leads to more struggle, longer hours and burn out, especially when new competitors open up shop nearby which makes you even more vulnerable to losing patients to them. ORā¦. if you are done with all of that and want a predictable scalable way to more patients who gladly pay the price you ask, and have the lifestyle and thriving practice you've always dreamed of, so you have more free time for your family and outside interests, then here's what I propose. I'd like to speak with you personally about how you can apply these 5 shifts to a steady stream of cosmetic patients to your practice starting TODAY. Whatever your biggest challenges are, I've seen it all and know how to overcome them. On this phone session, we can craft a step-by-step game plan to hit your income goals for this year - whether that's $50K/month or $500K/monthā¦ AND for attracting the exact patients you want to work with, which is all part of the 5 shifts to a steady stream of cosmetic patients. The cost? Absolutely FREE.Ā Now you may be wondering why I'm doing this, and the answer is... I do this because I love helping cosmetic practices achieve their goals and have committed to it for the last 22+ years. So many practices struggle needlessly because they just don't know a better way and I want to help with that. I know that you too might want my help to transform your practice and expand upon the 5 shifts to a steady stream of cosmetic patients.Ā If so, we can discuss it to see if it's a good fit for both of us.Ā If not, that's fine too. To book that call, go to: https://bit.ly/3LTqiBw Enjoy! Catherine Maley, MBA ā¬ļø FREE BOOK: š Get my 5-Star Rated Book, "Your Aesthetic Practice ā What Your Patients Are Saying," FREE! Just pay S/H ā
Ā STAY UPDATED: šĀ Catherine's Website š Catherine's Blog š¤ "Beauty and the Biz" Podcast šŗ "Beauty and the Biz" Videocast š "Beauty and the Biz" on Apple Podcasts š¤ LET'S CONNECT: ā”ļøĀ Instagram ā”ļø Facebook ā”ļø Twitter ā”ļø LinkedIn P.S. If you need help differentiating yourself, schedule a complimentary 30-minute strategy call with me. Review Beauty and the Biz on Apple Podcasts and get my 5-star rated book. FREE! Catherine Maley, MBA: Everybody that's going to wrap it up for us today onĀ Beauty and the Biz. If you have any questions or feedback for me, you can go ahead andĀ leave them at my website at www.CatherineMaley.com, or you can certainlyĀ DM me on Instagram @CatherineMaleyMBA. If you've enjoyed this episode onĀ Beauty and the Biz, please head over toĀ Apple Podcasts and give me a review and subscribe to Beauty and the BizĀ so, you don't miss any episodes. And of course, please share this with your staff and colleagues. And we will talk to you again soon. Take care. "The fastest way to success is to model other successful surgeons who have what you want, but you can only see their results, not the path they took to get there. So, you continue to jump from one thing to another, hoping to find something that will work for you too, but it rarely does. So, try this shortcut instead. It's guaranteed to move you forward. I compiled my intellectual property to grow cosmetic revenues, everything I've gleaned over the years into one playbook of the most successful practices and what they do to win. Go toĀ www.CosmeticPracticeVault.com and let's grow your cosmetic revenue." Ā #cosmeticsurgeonpodcast #plasticsurgeonpodcast #aestheticpracticemarketing #cosmeticpracticestafftraining #cosmeticsurgeonbusinesscoaching #plasticsurgeonbusinesscoaching #strategiesforsurgeons #morepatientsmoreprofits #aestheticsurgeonbusinesscoaching #medspabusinesscoaching #medspamarketinghelp #cosmeticsurgeonmarketinghelp #howtogetmorepatients #plasticsurgeonmarketinghelp #aestheticpracticemarketinghelp #beautyandthebiz #podcastforplasticsurgeons #podcastforcosmeticsurgeons #plasticsurgeonideas #plasticsurgeonagency #plasticsurgeonconsultant #plasticsurgeonstrategies #plasticsurgeonservices #plasticsurgeontrends #plasticsurgerymarketing #marketingplasticsurgeons #marketingplasticsurgery #cosmeticsurgeondigitalmarketing #cosmeticsurgeonmarketing #howtopromotecosmeticsurgery #socialmediamarketingforplasticsurgeons #socialmediamarketingforcosmeticsurgeons #plasticsurgeonsocialmediaideas #howtofindcosmeticpatients #howtofindcosmeticpatients #howtoattractcosmeticpatients #howtoconvertcosmeticpatients #howtoretaincosmeticpatients #cosmeticpatientadvertisingideas #cosmeticpatientstrategies #cosmeticpatientconsultant #cosmeticpatientservices #cosmeticsurgeonads #digitalmarketingforplasticsurgeons #consultanttoplasticsurgeons #consultanttocosmeticsurgeons #seoforplasticsurgeonsusingai #onlinereputationmanagementforplasticsurgeons #leadgenerationforplasticsurgeons #cosmeticpatientreferralmarketing #brandingforplasticsurgeonsĀ Ā #steadystreamofcosmeticpatients #morecosmeticpatients