In this episode, Cameron discusses the importance of creating a unique selling proposition (USP) for medical spas and dental practices. He emphasizes the need to understand the practice’s identity, target audience, and marketing strategies to effectively communicate its unique value proposition. He also highlights creating a luxurious and comfortable environment for patients, including offering unique and exclusive products to differentiate the MedSpa and enhance patient experience.

Transcript

This is medical millionaire the podcast, helping your Med Spa increase in status, visibility and profitability. Join your host as he dispels myths, shares trends and gives you actionable steps today that will take your medical practice to the next level. Here’s your host, expert marketer and founder of growth 99
Cameron Hemphill,
Hey, what’s up, everybody? Cameron Hemphill, here your host for medical millionaire. Hey, first off, thank you so much for taking the time to tune into the podcast. Our goal is to give incredible value and insight for practice owners. So if you own a med spa, you are in the esthetic space or wellness space. This podcast, it’s 100% designed for you and to help you take your practice or future practice to the next level. My team and I, we have consulted with some of the top practice owners all over the country for years. We see ones that are thriving, killing it, enjoying it, having fun, and have somehow figured it out. We see others that need a tremendous amount of help. So wherever you’re at within your journey, if you’re thinking about getting into the industry, if you’re in the startup phase, if you’re in the growth phase, or if you’re trying to optimize and potentially exit every single one of these episodes, you should be able to get value from so what I want to get in today is I want to talk about the unique selling proposition, also known as a USP, and why it’s so important. If we’ve looked at trends historically, we have seen esthetic practices pop up left and right. In fact, I was on a podcast yesterday with Mr. Alex thiersh, the CEO of am spa, American Med Spa Association, and we were looking at data, they had just recently released data points around how many practices have been created over the past. I think they went back to like, 12 years, and how many providers are out there. What the average revenue is per location, per practice owner. Like it was incredible data. It’s called the am spau state of the industry report. So if you guys are interested in it, you can go to their site and check it out, probably download it, especially if you’re a member, I think it’s available to all members. Also, we did do a recording yesterday. That podcast will be coming out in the future, probably three to four weeks from then, and we just get super deep on the data. But what’s interesting coming back to your unique selling proposition and how you want to align that? Because what’s happening is there is competition coming into the space, which is great, right? One could look at that as negativity, and another one could look at that as opportunity, right? And so what’s going to happen is you need to do a really good job of explaining your unique value proposition. And what do I mean by that? And I’ll give you, I’m actually gonna, I’ve outlined 10 different ways on how you can come up with that, and I’ll get into those details. But the first thing you need to understand is, is, what is that? Who are you? What do you represent? Who is your target audience? Do you go after the luxury brand? Do you go after the high ticket items? Are you more of a volume based business, or are you more somewhere in the middle, where you have some tight ticket items, but then you also have low ticket items for great upsell opportunities, you need to understand exactly who you are, what you represent, and then mold all of your marketing efforts around that. Everything that you put out on social, whether it’s dark social, paid social, if you’re running Google ads, Facebook ads, Instagram ads, whatever it is if you’re putting videos out on Tiktok, your website, your text message campaigns, your email campaigns, it’s your entire message on how you are creating something unique that separates you from all the growth that’s happening in the industry, right? If you look back on it, in 2022 there was 8900 practices, medical spas, 8900 in the United States. That was 2022 2023
there was 10,488
and this data is coming from the state of the industry report from am spa, and I know that they had a third party company do a like a massive survey. So the data is pretty dang accurate. And if you look at the forecast, you know going into 2024 So what you’re going to see is you’re going to see it continue to grow so it goes right around from like 10,488 2024, we’re looking at right around another 1000 practices opening 11,432 and then forecast it out for 25 and 26 it just kind of creeps up at about 1000 new practices opening per year, okay? And in some areas, they have it broken down by region. So what’s interesting is the southeast region is growing the fastest. And when they break that down, they pull Texas into there. So that is going the fastest of all that count of practices. 40% of that count is in the southeast. So if you have a practice in the southeast, Florida, Texas, you know, even the Carolinas, this is a something you need to understand. You have a tremendous amount of migration taking place from population migration, right? And you also have a tremendous amount of opportunity of practice and practices and providers opening. So again, understanding your unique selling proposition is going to be more important now than ever, even if you feel like you’ve defined it I would have over the next quarter, you know, 234, months out the road, down the road, I would look at this and say, Okay, guys, and have some sort of collaborative environment with your team. Have them look at it and say, Hey guys, do you know what our USP is? And they probably look at you and say, what’s the USP? What do you think our unique selling proposition is? I want to challenge you to make sure you get every single team member on the same page, rolling down from the front staff right as soon as someone walks in to the marketing person, to you yourself, to the back office, to every single one of your team members, your assistants, admins, receptionist, like, whatever It is, every single one of you has to have a very clear definition of your USP, and if you don’t, what ends up happening is you confuse the market. You can’t be luxury and volume at the same time, right? You can’t have this state of the art facility and then be a discount shop, right? And I know that those are two, like very dramatic approaches. But in between those that dramatic approach Delta, there is ways where you can very much confuse the market. And so once you understand your USP, you can tailor all your marketing. So for example, if you’re a high end luxury brand, the way that you represent yourself on social, on podcasts, on YouTube, where you target your campaigns, right? So if you’re luxury, you’re probably going after a household medium income of a higher amount, right? Probably in the multiple six figure amount, probably in some cases, over three $400,000 you’re going to have to identify where those people hang out. Where do they work out? Where do they eat? Are they members of country clubs? What type of cars do they drive? Right? Once you can kind of analyze this data coming back to your USP, then you could target your marketing efforts around there, right? I still see a lot of practice owners that are going after luxury brands, and they’re running Facebook ads and just basically dropping a pin on their location, and they’re just doing a radius. I’m like, why aren’t you doing anything with respect to the country club that’s down the road? Anybody that’s a member at a country club is typically a, you know, a C level executive, an entrepreneur, or has a high producing income type of job where they can allocate services and treatment exposure of expense internally, and then that’s a great way for you guys to target, right? So Country Club is a great place. Also, what type of technology companies are around you? Is there any specific big companies migrating to your location? So let’s look at Florida, for example. Let’s look at like Tampa, right? Tampa, for example, has a tremendous amount of private equity groups and hedge fund managers moving to Tampa from New York, right? And there’s reasons behind that. It’s obviously because it’s a beautiful place to live, but they’ve realized that they can run their financial operation from this state, from the from the Sunshine State, right? And there’s limitations and all sorts of issues that they have going on in New York, so why not move my office down there? Well, when those type of individuals move to that location, you need to be in tune with what’s happening with your local economy and what’s happening with your local market. Market, because the type of jobs that those people bring, right? I know that Kathy Wood with Arc financial, she’s pretty well known in the financial space. She’s like, big on Bitcoin and big on Tesla, and she moved her entire company down to Florida. And the amount of employees that she brought with her. I’m not sure what the head count is, but I know it’s up there, and I know that each one of those employees has a very high income level, right? And so they have a type of income that would be a perfect target market for you to get very narrow in and understanding your USP, and who your customer is. Because if you were able to penetrate that type of opportunity, and you’re able to get one, two or three of those employees to just come in and have a treatment, and you nail the patient experience, they know people, when they move in, they’re going to join country clubs, they’re going to sign up with fitness, you know, type of classes that are, you know, probably on the higher end. They’re going to go to luxury restaurants, right? They’re going to hang out with the like minded people, and same type of income level, you know, individuals that fit their criteria. So what’s going to happen is, if you can penetrate that, the domino effect takes place. And so going back to your USP, understanding exactly what your USP is is so important because it’s going to guide you on how to strategically target people, instead of just sitting around and thinking and putting up a social post for whatever reason with no intention behind it, recording a podcast episode with no intention behind it, not you know, not knowing who your target is, right? So you know, take the time to also look at your data. You know, if you guys are posting on social and you have a business account, take the time to analyze it. What does your audience look like? Is it female? Is it male? What is the age demographic, right? And a lot of this stuff can really help you understand who to target, and hopefully it’s defined around your USP,
thank you for listening to medical millionaire. I wanted to take just a few short moments and tell you all about growth 99 University naturally, if you’re listening to medical millionaire, the success of your Med Spa is extremely important to you, and as it should be. And if you’re listening to medical millionaire, you are obviously looking for the best, most effective ways to take your Med Spa to the next level in both profit and customer success, enter growth 99 University ranging from online education courses all the way to the full suite of marketing and web services. Growth 99 has your Med Spa covered. No matter the challenges that you’re facing, we are ready and able to help you achieve your next level in business, profit and freedom to inquire about all of our support services and products, please visit growth 90 nine.com and while you’re there, click the university link and check out the companion course to this very podcast. Back to the show.
So let me give you an example of a really good USP, somebody that really defines it and puts it on paper and really lives by it. So I’ll kind of read this out to you guys. So at let’s just call it XYZ Med Spa. We combine cutting edge technology with personalized care delivered by high qualified professionals in a luxury and amazing environment. Our commitment to exceptional customer service exclusive skincare products and holistic wellness programs ensures visible and lasting results with innovative membership benefits and strong dedication to community involvement, we provide an unparalleled med spot experience tailored to your unique needs. Now, what does that mean to you when I just read that to you? That means I’m going to a luxury brand, someone that knows their stuff, someone that gets it, and I like it seems like a very high end professional value proposition. Now, if that’s the type of experience I’m looking for, and that’s the type of thing that gets me going right, like, there’s different people of personality out there. There’s different type of incomes levels. If I’m this type of individual that loves the high end unique experience, buy the best, only want to spend the best that’s probably going to fit my target, that’s probably a practice I’m going to go to right versus a complete opposite unique selling proposition is, hey, this is XYZ. Meds, Bob. We. Offer great products and services at a discounted rate. And you know, you can kind of go on and on for there, right? That is not, there’s nothing wrong with that approach. If that’s your unique selling proposition, and you have really, like a turn and burn type of volume type of approach, there’s nothing wrong with that, right? It’s just understanding exactly who you want to market to. So on the other side of that you’re going to want to market to people of individuals that have that are on the lower income type of producing bracket, which is totally fine, because these type of individuals are still investing in medical esthetic services. They’re still finding a way to produce the type of confidence that they’re trying to invest in. It’s just a different, completely different marketing approach, right? Your brand, your messaging, the way you communicate, the way you market, the way that you put ads out there. You know that type of practice should have a lot of discount offers, should have lots of showing how fast they can get treatments done right instead of coming in for an hour or two hour experience. Maybe they want to go somewhere and, like, get a, you know, Botox really, like, done really fast and have it done in 15 to 20 minutes, because they got to get out the door, or they’re, like, just getting ready for an event. Maybe they forgot. Maybe they just need to get something done really quick, you know, like, there is market share for that type of unique selling proposition. So again, I gave you guys the data points on what’s happening from historical growth in the med spa market. What’s happening now, what’s forecasted, there’s going to continue to be more medical esthetics practices that come into the market. But what’s interesting to know, guys is the amount of providers out there. So the supply of providers is not outweighing the demand of patients, especially in the southeast, right? Because you have the migration of population taking place, but the providers are not there to supply all the patient demand. So as you see all these practices come on and you’re like, oh, there’s competition everywhere, competition everywhere, competition everywhere. That’s what we’ve been hearing for the last couple years. That’s true, but when you look at it, at a economical standpoint on supply and demand, you’re still in a very, very healthy position. Okay, so a couple other things I want to get into, guys is, I want to give you some unique selling proposition ideas, right? And so when you guys are brainstorming with your team, and you’re trying to come up with your USPS, or you’re trying to redefine it, you’re trying to just really optimize it, you know, really look at your technology and treatments that you’re doing. Are you offering cutting edge technology and lasting treatments? Do you invest in state of the art laser therapy machines, you know, like, what do you currently have from a technology standpoint, from the neurotoxins you’re using to the laser devices you’re using, all the modalities that are out there, and then what are you doing about like personalized treatments? Do you have personalized treatments? Are they personalized for every single patient, or are they not right? So understanding your treatment plans. How Qualified is your staff? Is your staff qualified to help you upsell, to help you understand the unique selling proposition and convey that to your patients? Are they able to showcase the expertise and qualifications of your medical professionals, if they’re if they are great that can also mold into your USP. If they’re not, that’s also fine. Mold that into your USP, but figure out exactly who your staff is, what their education is, and how they convey that to the patient, right, luxurious and comfortable environment. This is one thing that I think is whether you are, you know, more of a volume type of practice, or you’re more of a, you know, high ticket item type of practice. I think it’s very important to have an experience every single time. You can have luxury of luxury. Let me just kind of make this simple too. You can have, you know, like a five star hotel. Let’s take the four seasons, right? That’s like luxury of luxury. And then you have like Ritz Carlton, right? And then you have like the JW Marriott, right? And then you have, you know, the higher end Hiltons. And then below that you have just like a normal, you know, Marriott. And then you have, like, courtyard Marriotts, right? So you can kind of get an idea. I’m just trying to paint the picture in terms of look, you can have a Courtyard Marriott that’s pretty luxurious. It’s pretty nice, right? Like, it’s a pretty nice experience. It’s nothing like the JW experience, but it’s still pretty luxurious, right? So what I’m getting at is, as you guys are evaluating, you know, your your location, your space. Are you the JW, or the courtyard? Marriott, either is fine. I think it’s just really important to make sure to have some sort of luxury experience the moment that patient walks in the door, so they feel like they belong there based upon your USP, okay. Another thing guys is I cannot express how important exceptional customer service is. From the minute that potential patient inquires whether they’re making a phone call, they’re going through some sort of lead form, a chat bot, you know, some sort of self assessment. Maybe it’s a skin quiz, whatever it is. Maybe they’re DMing you on social, whatever it is, getting back to them extremely fast, and also very much explaining to them benefits, procedures, downtime, setting expectations and maybe they, you know, being upfront with them. Are they the right patient? Are they not the right patient? Right? Because the last thing you want to do is bring in the wrong patient that never really ends well, right? You can’t really mold a potential patient that maybe doesn’t align with your USP, right? Like, imagine having your USP, somebody wants to come in and spend, you know, like seven bucks per unit on Botox, for example, but you sell it for 15, it’s just there’s just You’re way too far off. That’s just not a potential patient for your type of USP, and maybe refer them out to a practice that aligns more with their expectation, right? Everybody does want, you know, some sort of a deal like pricing always is a factor. But if you if you’re that far off, it might not be the best fit. And that’s also exceptional customer service. Because what can happen that person that wants to spend seven bucks on a unit they know people that potentially want to spend 15, right? So they could say, No, they were super cool. Were very nice, very informative. They told me that I was probably better off, you know, to go to this practice, and that practice was great. And then if you could build a relationship with that practice, and they’ll refer the high end stuff back to you, because the USPS don’t align right, unique and exclusive products, you know, like, this is a big one for me offer a line of exclusive, you know, high quality skincare products that are only available for your Med Spa. This can include, like, private labeling products, partnerships. You know, there’s a lot of great ones out there that I see on the market. Revisions are really great one that I see that I know you can do unique stuff like that. Elastin is another. Of course, Zeo is out there that’s always super supportive and helpful as well. Wellness programs, if you guys are thinking about bolting on wellness to your to your current injectable and laser treatments and your esthetician systems, if you’re thinking about getting into the wellness side of the business, you really want to align your USP around that, right? Because if you do, it’s going to really change your messaging and your branding. You’re no longer like a med spot, your your your health, wellness, medical esthetics, right? And also helping people heal from the inside, versus also building confidence on the outside, right? And if you align your USP around that, and you’re like, you can explode your growth factor.
What I see typically, and what the data shows is the first time patient, first time patient to your practice spends right around 550 bucks the first time, like, the first time they come in. That’s the average. That’s the national average, but if you have wellness bolted onto it, in some ways, you can actually double that first patient visit from 550 to, let’s just call it 1000 and now you’ve just doubled the amount of revenue that’s come in. And the wellness side has extremely healthy margins, and also has a really, really great reoccurring factor. So I think the wellness side is actually going to surpass the injectable side. At some point here, there’ll be some sort of chasm that crosses. Because on the wellness side, it, you know, it’s one thing to look good, it’s something to feel good, when you can combine those efforts and then redefine your USP around that. I think you could take your single location practice that is doing seven figures, one to 3 million. Let’s call it one to 3 million, and with not too heavy of a staff increase of higher end marketing spend, I think you could actually move the needle to more like five to five and a half million, which is bolting on the wellness side, redefining your USP, understanding who your market is and who your target is, and just attacking that and letting them know every single time that they come in, not only do you do the neurotoxins, the laser treatments, the. Skincare products, the esthetician services, the facials, the massage. But oh my gosh, we have hormone replacement therapy now. We have peptides now. And really getting them educated on that, right? Really getting them educated on that which, which I think is something that, if you guys are not exploring, is something you should be. And I don’t care if it’s a high end luxury location or if it’s more of a volume based, you know, volume based businesses are wonderful, you know, especially in the wellness side, right? Because it’s easy to get them in, show the value, convey the value, make them feel better, and they become super loyal patients long term. Okay, I want to talk about last thing is memberships. I don’t think we talk about this enough, and I see some practices that have actually just absolutely nailed it, especially on their USP, bolting in memberships, right? If your goal is to get people on memberships. Maybe it’s a beauty bank. Maybe it’s on the wellness side, in terms of, you know, reoccurring refills, like whatever it is, there’s a lot of very unique ways that you can roll out memberships. The beauty Bank is a fantastic one, and one that I know works extremely well just hitting someone’s card every 30 days with a certain amount of budget, that just builds up a bank. And then they can come in and use those services, right? That’s reoccurring revenue that’s coming in, right? And what’s nice about that is, when they come in, you can bolt on the wellness side. You can bolt on the skin cup, it’s the skincare product side, and then, Hey, bring in, have an entire tailored solution to where they can come in and get their skin care, you know, completed with the injectables, and use their beauty bank. Well, all of a sudden now you also have a membership program for your products and a membership program for your wellness. So let’s say you were having somebody that was spending $200 a month on their dedicated beauty bank. You can easily get them to 500 by just tweaking and redefining your USP, understanding how to convey that message and give value to that patient. And they’re gonna thank you every single time, right, guys? So that’s what I have, guys. I I’ll stop it at that. I haven’t done a solo podcast in probably a month. We’ve had a ton of people that have just wanted to be on the podcast and get interviewed, which has been extremely fun. But I love doing these solos as well. So my biggest ask, guys is, if you found this episode valuable, do me a favor and share it. Share it to somebody that can get benefit from it. Share it within the community. That’s just my biggest ask and and let’s go have some fun. I appreciate you guys. Thank you so much for tuning in until next time. Happy injecting you.