Archive for Economy
What Can An Aesthetic Physician Do to Weather The Economic Storm?
Posted by: | CommentsThere is much you can do to survive and even flourish no matter what is happening in the economy.
I guarantee the answer is NOT to wait and do nothing. Those who proactively act will fare the best. And, since your competitors are sitting on the sidelines from fear, now is the perfect time for you to increase your promotional efforts. You can attract new patients (some of them from your competitors who are ignoring them) and you can reconnect with your own patients to ensure they stay loyal to you.
This is not the time to start a huge, expensive external campaign to attract total strangers to your practice. That will take too long, too much money and may not pan out. However, it is time to go through your patient files and set up a strategy to get them to return, spend more with you when they do and refer more of their friends.
Segment your lists by age and send them solution-specific messages to address probable concerns they may have. For example, send tummy tuck information to moms in their 30-40’s, facelift information to professional females in their 50-60’s, etc. This targeted messaging should give you a much better return on your investment than sending one-message-fits-all.
Can Aesthetic Patients Still Afford Services in This Economy?
Posted by: | CommentsDuring these shaky economic times, you want to be much more strategic about your promotional efforts when attracting cosmetic patients to your practice. Targeting those patients who are least affected by the craziness going on in the world or, at least, last affected by it.
Which Aesthetic Patients are Recession-Proof?
While most folks will be affected somehow, some way by the stock market collapse, the credit crunch and the housing debacle, not all will feel it the same. It will hit home hard for those who live paycheck to paycheck from companies who may go under and lay them off. It will hurt those in professions such as mortgage brokers, realtors and corporate middle managers.
However, those least likely affected are those who are typically more mature and more prepared for dips in income since they have been through it before and know the drill. They have saved for this and are less prone to devastation. They have reached affluence and will not be devastated by what’s happening. Some won’t even feel it because they know how to make money and hang onto it.
So, my advice to you is to cater to your more mature patients for now rather than more time, money and effort into the younger patient who has not yet established themselves.




