5 Shifts to 10X Your Revenues

You will find this very interesting 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.

Because I’m going to show you how to 10X increase your revenue using the resources you already have, without wasting time and money on advertising, discounting your services, or performing on social media to gain followers.

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.

How to 10X increase your revenue for plastic surgeons using existing resources

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.

That’s what keeps them engaged so now you’re not only the service provider, you are also the marketer and social media influencer.

This post will show you how to increase the number of cosmetic patient visits, referrals, reviews and shares on social media in a fun way so your existing patients enthusiastically grow your practice or med spa for you.

The key word here is existing patients because they are your lowest-hanging fruit and the fastest, cheapest, easiest way to increase your revenue because they already know, like and trust you.

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.

You’re also going to discover how to generate the preferred patients you want, whenever you want, at the price you want.

I know that’s a big statement, but it really is possible.

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.

Everyone knows 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.

You just don’t need the extra hassle of undesirable patients so we’re going to fix that.

You’ll also discover how to increase your revenue and add an extra $200K, $300K, even $500K+ to your bottom line, even if your revenues have been at a plateau for YEARS.

And you’ll do that without 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 consultations with your competitors so they can’t commit.

You don’t need that aggravation.

And lastly, you’ll discover how to take your practice or med spa to high 6 or 7 figures

…while you enjoy more freedom to expand or relax – it’s your choice….

And isn’t that the whole point of you being in business…. to have the freedom to do it your way?

So here’s my promise to you…

I want to give you a step-by-step strategy to 10X Increase Your Revenue and attract a Steady Stream of High-Paying Patients…..

 … Without spending a fortune on advertising or discounting your services.

Does any of this sound familiar…..

Do you lose cosmetic patients and revenues to the ever-growing number of competitors surrounding you, even though you believe you provide better results?

That competition is NOT going away and is only going to get worse as government regulations increase and insurance reimbursements decrease and as advancements in technology give patients so many more surgical AND non-surgical options.

The last point affects you big time 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.

And studies show if you don’t develop a relationship early 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’ …

Are you also sick and tired of feeling you have to discount to attract new patients to your practice to bring in new business?

You know discounting hurts your bottom line and profits, but it also hurts your image, but you don’t know what else to do.

And what about this one…

Are your advertising costs going up and up, and you’re not sure how much longer you can keep going like this?

I attended an internet marketing conference in Austin recently and learned Facebook is raising their ad rates 30-80% and Google ads are right behind them.

Gosh, I’ve been around the marketing world long enough to remember when all of this online exposure was free because these internet platforms needed to first build an audience and then once they did, they started charging.

So, why are they raising their rates so dramatically? Because they can and that’s insane.

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?

Surgeons have said to me more than once that they didn’t realize how much overhead goes into running a private practice, especially when they came from a hospital setting where everything was taken care of for them, so it can be a real eye-opener when they go solo.

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?

For example, most practices had at least a 2-month forced vacation in 2020 due to Covid shut downs, right? It could happen again. We just don’t know.

What’s the Real Problem and How do You Fix This?

One of the problems is too many ad 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.

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.

The real problem is that you have not made the 5 SHIFTS and we’re going to talk about exactly what those shifts are in just a moment but for now, just know this…..

Once you make the shifts, you’ll have peace of mind you need knowing you have an automatic system to attract a steady stream of cash-paying patients you can count on to increase your revenue.

You’ll feel in control with a predictable and reliable plan to increase your revenue and keep them coming in month after month and all year long.

If you have experienced killer months and then crickets, you know what I 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.

You’ll no longer waste money on huge ad budgets selling promotions that eat away at your profits and isn’t that the name of the game?

The trick is to keep as much profit as possible while lowering your overhead, right?

And, once you make these shifts, 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 like putting golden handcuffs on your patients so they wouldn’t dream of going elsewhere.

That means you’ll be able to take time off without stressing so you can actually enjoy yourself, without worrying what’s happening back at the office.

And here’s the best part once you make these shifts.

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 increase your revenue

I discovered these 5 shifts 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.

It’s something that I shared this with my clients and now they get unbelievable results because they made the 5 key shifts and there they are…..

Shift #1:  Patient Centric vs. Money Centric

When you shift 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.

This shift 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.

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.

They have endless needs for a lifetime, thanks to the aging process.

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.

In turn, 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.

They will also reciprocate by helping to increase your revenue for you by returning to YOU rather than your competitors.

By referring their friends, family, coworkers and neighbors.

And by giving you great online reviews that thousands of other potential patients will see online.

Also 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 life…such as a fulfilling livelihood that affords you a comfortable lifestyle that supports your family, your interests and your financial future.

I have to tell you when you start looking at your patients in this different light, that changes your perspective, as well as your attitude and your patients feel that shift 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 services…

The first one is you think this industry is commoditized and your expertise isn’t worth higher prices…OR….

You think you will lose patients to your low-balling competitors 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.

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).

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.

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.

That’s because you have enough revenues coming in 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.

That’s how you scale and work less but get better results.

Shift #3: Use the Secret Weapon

The majority of cosmetic practices and med spas go about attracting new patients and growing their revenues the wrong way.

They typically do what everyone else is doing and then wonder why it’s not working.

Oftentimes, they don’t even know if it’s working or not because they have no easy way of seeing the results. For example….

The OLD traditional methods of getting new patients are to spend a ton of money on:

…and maybe you’ll get new patients.

That’s what we call the “hope and pray” marketing approach….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 and here is the secret weapon….

A creative 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.

Here is how you use a loyalty/rewards system to 10X increase your revenue.

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 – all leading to new patients for you organically, without you spending an extra dime.

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 them when they return more often, refer their friends/family, write a review, approve their before and after photos, share you on social media, shoot a video testimonial, and completing surgery can be optional.

And when your patients collect enough rewards at different tier levels, they are rewarded with Free cosmetic services.

Meet Dr. Thompson and His Wife Sharon

I’d like you to meet Dr. Thompson and his wife Sharon. Their cosmetic practice is in a very competitive area of NJ.

They were concerned about spending several thousands of dollars every month on advertising to attract new patients. But that was bringing them poor quality leads and wasting Sharon’s time following up.

Also they were also losing patients to their competitors who were discounting like crazy.

So, they implemented a Raving Fans Club and what happened next was pretty amazing…

Shift #4: Retention is the New Attraction

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.

So, retaining your cosmetic patients has become the most direct route to increase your revenue.

Not sure about that?

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 patients
• 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 will keep them coming back.

THIS is how you leverage your time with your preferred patients who are worth 10X more to you.

And you stop wasting your time with those who nickel-and-dime you and then bolt for the next special deal from your competitors.

(Sources: SEMrush and ProfitWell)

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.

For 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 read this.

So, here’s how it works:

It starts with your mindset and your beliefs about what is possible.

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!

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 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. Find the best expertise out there and spend what it takes to work with them.

Meet Dr. Langdon

He runs a cosmetic surgery and laser center in CT.

Dr. Langdon has an established practice, so he wanted to cut down on his advertising and build up the med spa side of his practice.

So, we implemented The Raving Fans Club and here are the amazing results he got…

So, to recap, here are the 5 shifts that you need to make to increase your revenue and win:

• 1st Shift – Patient Centric vs. Money Centric
• 2nd Shift – Drop the Discounting
• 3rd Shift – The Secret Weapon
• 4th Shift – Retention is the Attraction
• 5th Shift – Invest in Expertise

These 5 shifts alone are enough to propel you to a multi-million-dollar practice.

Now you have 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 ….

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.

OR…. 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, while 10X increase your revenue so you have more free time for your family and outside interests, then here’s what I have for you….

Free Offer for You

I have set aside time this week to speak with you personally about how you can apply these ideas 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/month…

AND for attracting the exact patients you want to work with.

The cost? Absolutely FREE.

But, of course there’s a catch when it’s free and that is…..this isn’t for everyone.

• You must be focused on cosmetic patients only – no insurance patients.
• No paper charts. You must be digital and be able to save your patient list as an excel file.
• You must offer friendly customer service.

If you can say yes to those 3 points, then book a session now!

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.

If so, we can discuss it to see if it’s a good fit for both of us.

If not, that’s fine too.

To book that call, go to:

www.catherinemaley.com/apply
Spaces are very limited – Sign Up Now!

When you click that link, you are going to see a calendar.
Select the day and time that works best for you and then what’s going to happen is you’ll be redirected to a very short application form.

Just fill that in and give me more information about you so I can prepare for our call and spend our time wisely.

Then what we’ll do is jump on the call at the time you chose, and we can talk about how I can help you get to high 6-or 7 figures in your practice.

I promise you it’s going to be the best 30 minutes you’ve spent working on your practice ever.

OK, hopefully, you now see how you can make some simple shifts to 10X your revenues using the resources you already have without advertising or discounting your services, WHILE simultaneously increasing the number of patient visits, referrals, reviews, and shares on social media.

I hope you got a lot from this and be sure to go to catherinemaley.com/apply
and I look forward to speaking with you soon.