1. This will be so counterintuitive, but here goes….raise your prices.
This is NOT the time to market to price-shoppers who will spend the bare minimum, negotiate with you and take up a bunch of your time nitpicking your services and prices.
This is the time to cater to patients who trust you and want a good result for a fair price. You want the patients who care more about you and your expertise than anything else.
However, add a little something of extra value to go with your higher prices. For example, sample-size hand sanitizer with your logo on it or a free peel to go with their filler treatment.
And, raise your prices could also mean just don’t discount them. Concentrate on relationship-building instead so these patients are glad to pay a fair price for a great result AND experience.
2. Offer Good – Better – Best
I don’t care what happens to the economy, there will always be different groups of consumers who buy the best, buy the least and the majority by “in between”. It’s just the way humans are so knowing that helps you increase the value of your services.
Give your patients a choice of 3 so they feel they are in control and choose one by self-selecting what type of consumer they are and where their threshold is.
For example, you can offer a choice of:
(Good) Botox – $400
(Better) Botox + Filler – $1,000 (Save $200)
( Best) Botox + Filler + IPL – $1,300 (Save $400)
Or offer tiered pricing and wait time for Botox so the patient can choose what’s more important to them.
Either way, they are choosing your practice:
Surgeon fees are $16/unit + 3 week wait
Nurse Injector fees are $13/unit + 2 day wait
3. Smart Target Marketing
If you are doing external marketing, target the higher-end zip codes where your preferred patients live. Don’t waste your money, time or efforts on zip codes that are most likely to be affected by the economy. You have to stay focused on the most likely patients who are least likely to be affected by the economy.
4. Increase the Value of the Transaction
Marketing experts know the best time to upsell a customer is when they just bought from you. Again, that seems counterintuitive but think about it…your patient likes and trusts you enough to buy your services and they feel good about it, so they are most likely to be open-minded to other services you suggest.
But there’s no need to be pushy about it. Just make it comfortable and sensible. For example, at checkout, your staff can hand the patient a thank you note that says, because you spent $300+ today, here’s a $100 gift card to use towards a new treatment you haven’t experienced yet. Have it expire within 30 days and then, hopefully, they’ll book their appointment right now.
Or if the patient is buying a skin care product, your staff can say, “By the way Sara, you save 20% when you buy 2 products” and then let the patient decide if they want to save 20% or not.
5. Much Better Follow-up
More revenues are lost here than anywhere else in the practice. The reality is you must try harder to attract patients and convert them to paid procedures. It takes “professional persistence” to get someone’s attention long enough for them to decide.