In this episode, Cameron discusses essential strategies for MedSpa owners to elevate their practices in 2025. He emphasizes the importance of effective marketing, proper budgeting, and building a strong tech stack to enhance patient acquisition and retention. The conversation covers key metrics for success, including patient lifetime value and utilization rates, while providing actionable insights for practice owners to thrive in a competitive landscape.

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 guys. Cameron Hemphill, here your host for medical millionaire. Hey guys, 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 thinking about getting into this amazing industry and vertical specialty this podcast, it’s 100% designed for you and to help take your practice to the next level. So guys, my team and I, we have consulted with some of the top, most well respected practice owners in this industry, we have seen practices perform extremely well, and unfortunately, we’ve seen others close their doors. So what I want to help you guys with is help elevate your business sense on how to effectively run your practice like a business. So the purpose of every single one of these episodes guys is to talk about the business aspect of how to effectively take your practice to the next level. And what I’m going to get into today is some data points. I’m going to talk about the marketing aspect of what success looks like. And I’m going to give you guys some benchmarks based upon where we are heading into 2025 what’s happened into 2024 and you know, ultimately, like, why I’m here is I’m super passionate to help entrepreneurs. I am here to help anybody, wherever they’re at in their career path. I believe that servicing and helping other entrepreneurs just through simple messages of all these episodes, it’s to empower your journey and our journey together. So let’s get into it, guys. Again, I’m going to give you guys the playbook, right? So if you guys are interested in making more money in 2025 at your practice, or you are getting into this beautiful world on what not to do and what to do. Okay, so let’s talk about marketing for a sec. I’ve been in the marketing and CRM digital world for shoot 20 years, and it’s obviously evolved. It’s changed. When you apply that to the esthetics industry, man, you have to be laser focused on running your craft, running your content, knowing what to do, not what and what not to do. I’m sure many of you, if you’ve had a practice for you, know, 12345, years, you have tried marketing strategies that have worked, some that have not worked. It’s all about trial and error and obviously keeping up with the current trends, right? So here’s what I’m seeing, though, constantly. So let’s just kind of hit you with some data points here. The most successful practices in this specialty, I’m talking about cash pay, right? Med, spa, specific, like elective wellness, the most successful practices are the best marketers, and that’s a fact. That’s not an opinion of mine, that is based upon a specific survey. We have surveyed practice owners. We have asked them these questions. I have read skytails white paper. In fact, I’ve dissected the white paper, not just briefed it, not just read it, dissected it. I have read amspa, state of the art industry report. I’ve dissected that report. I have dissected Terry Ross’s data based upon conversion metrics. I have dissected private equity in this industry, and I’ve compiled all of it together in a amazing AI tool that myself and my engineers have built, and it gives us the playbook on how to appropriately market a practice, how much you should be spending, where you should be spending, what your conversion rate should look like, what your patient acquisition cost should be, what your cost per lead is. I mean, guys, we have worked with practices in every single state, every every market, every demographic, from population density all the way to like, what treatments and services produce the most return based on like Cost of Goods Sold margins. It’s really interesting being in the industry, as long as I have now to have these data points and bring this story through amazing avenues like this. Okay, so the again, the most successful practicers, the most successful practices guys, they are the best marketers. And what I want you guys to start looking at is, as you close your books for 24 and you gear up for 25 I want you guys to look at how much you are. Currently spending on your marketing budgets? What are you spending on paid ads? What are you spending on SEO? What are you spending on website, organic, social, having people follow up with your leads, like getting testimonials, videographers, writing blogs, content, all the crazy stuff that you have to do as a practice owner, and you know, I want you to look at that as you’re closing your books and take a percentage of what you’re spending on marketing. Because most practices that I talk to, most practice owners I talk to, guys, you are completely under funding your marketing, not by a little bit by a long shot.
And the ones that appropriately
invest into marketing going into 2025 are the ones that are going to get the patients. And the data shows that if you get a new patient into your practice, they typically stay with you for about three years. Maybe they stay longer, maybe they stay shorter. But the data shows that a national average, they stay with you for about three years, and they see you three to four times per year. Okay, so that being said, for every patient you miss out on, you are missing out on four visits a year, times three. That’s 12 visits, right? And I can tell you, every single market I look at the demand when it comes to online search through SEO, online search through paid, online search through social the demand is exceeding the supply. They are going somewhere. And yes, competition is real, and it’s up to you to make sure that you align your marketing spend appropriately with your revenue. If you started your practice three years ago and you are still spending the same amount of money on marketing three years ago that you are today, and your revenue has climbed, you are not appropriately addressing the amount that you need to invest as the practice scales and grows. You are completely underfunding it, and you’re probably expecting to see the same amount of results. And that’s just not the case. Okay? So what I want you guys to do again, go look and see what will you finish at the year and your top line revenue, total sales, and then go see exactly how much you spend on marketing. And what I’m going to tell you right now is I want you to make the adjustment, because I know most of you tuning into this are not adequately funding this strategy. You need to be spending a minimum of eight to 12% of your revenue into marketing. I used to say it was right around five to 7% okay. This was back in 2022 early 2023 okay. But what it is now, guys, as as you’ve had competition go and as this industry is evolving, you need to start to invest more into marketing to snag the demand that’s out there, or they’re just going to go to the practice that’s across the street, down the road, whatever they’re going to get them. They bring them into their ecosystem. They have good experience. And even though you may say you’re better, that group got them because they invested. They snagged the patient. They came into their ecosystem. And guess what, once they come into their ecosystem again, they stay with them for three years. But if they do a great job, they’re going to send referrals, okay? They’re going to tell their friends their family. So now they’re getting this word of mouth explosion that you’re missing out on, just not getting that one patient. Okay, so super important guys. Again, the takeaway from that is to make sure to invest at least eight to 12% of revenue to marketing. So if you are working with an agency or you have marketing in house, make sure to address this and gear up for an amazing 2025 with funding this correctly. I’m going to tell you a quick story, and I’m not going to disclose who this practice is, the brand. I’m not going to disclose who the owner is, but this is a group that’s been working with us for about nine to 10 months now. Okay, so, so relatively new and and, you know, we, we had a conversation when they came in. They have three locations. They’ve worked with, you know, agency as your agency, and they, they haven’t found the sweet spot. And so I looked at their their practice, and I said, Okay, well, what’s going on here? Like, let’s look at the SEO. Let’s look at the website. Let’s look at your your tech stack. What does your tech stack look like? What is your website built on? Hopefully it’s on a WordPress environment that’s the best to build on if you have a brick and mortar practice, which is what you guys all have. And you know, what type of online booking system are you using? Doesn’t have proper attribution to show a true ROI right, a return on capital deployed through through your marketing spend. And you know, the system was, was somewhat broken when it comes to a tech stack, and so the first thing you have to do is you have to make sure you’re on the right tech stack. Super. Important, right? So, like, from a website standpoint, I’ll give you this little, you know, nugget to take away. Make sure you’re on WordPress that is, like, that’s open source. It’s it’s free. You own it. You own your content. It’s not on a custom CMS. You have to be on WordPress in order to get the best search engine optimization efforts and to control your intellectual property. Okay. The other thing is, geez, please have online booking. I still see it. I’ve talked about it on so many episodes. Online Booking is absolutely critical. But what I would challenge you on is look at the online booking and make sure that you can tie Google Analytics four into the booking events. You have to make sure that you have that connected, especially if you go into 2025 and you’re going to fund your marketing appropriately, because the last thing you want to do is is spend money on marketing and not know what your return is. Right? We want to actually see a return and then make adjustments on what’s working what’s not working. It’s super, super important. So we worked with this practice, made sure that they were stood up on the correct tech stack. And now, after working with them, we have seen a
one to seven return. What I mean by that is every dollar that they put into spend. I’m not talking like, SEO website, I’m talking about ads, like, specifically here, every dollar that they put in they saw $7 in return. Okay, so, okay, cool, big, big, big deal. Cam, whatever, $1 in seven, seven out. I mean, benchmark shows one to three is excellent. So doubling, uh, doubling, what we consider good. So this is phenomenal, right now, they were underfunding their marketing coached them up a little bit to say, hey, here’s what you should be spending. And you know, this is actually a demographic that is in heavy demand and heavy competition, like there’s a med spa everywhere, very well known market. And I’ll just say, like big cities in Texas is where they are, okay? So $1.07 back, that is a 600% return on investment. Now they spend an average like, you know, I’ll just peg it at $20,000 a month on ads. And if you can spend 20 grand a month, you guys may be like, Oh my gosh, I’m never going to do that. Okay, but they’re aligning the strategy, the right spend strategy, to the revenue deployment, okay? And that’s, that’s like, you know, it was a challenge to kind of get them there, but once they were there and they started running that playbook, you know, let’s up. This a nice, let’s say you spent, over the course of a period, you spent $100,000 on on marketing, okay, over the course of a year, for example, and you’re getting a one to seven. You spend 100,000 you’re gonna get 700,000 back. Like, what sort of investment vehicle can you purchase right now that’s gonna put you in that position? This is a huge return, a huge return, and they’re taking the patients, when you put that into patient lifetime, value, how many times they come in, how many like, how much dollars they’re spending, what the referral network looks like like, this becomes a massive revenue driver. Okay, so make sure like you guys are running ads, like, hang out where your audience is, and fund it correctly. I just constantly see people say, I tried Facebook ads. I tried Instagram ads. We tried some Google ads. But that’s the key word. Is, I tried it. You have to take it serious. You have to invest in it and be there for the long term. If you were to go to the internet right now and search for hotels near you or something like that, you’re going to see sponsored ad. It’s everywhere, like there’s a reason why these big corporations invest in ads, because it works. You want that first page real estate placement on the internet, okay? And then be able to tie attribution back to it, so you know what your your return on capital deployment is, right? So I wrote a report I want to see. Okay, over the over the 90 days, let’s just say they spent about $60,000 on marketing, and I was able to see a $420 back return, which was which was amazing. And it’s a story that really stuck out to me. Because, you know, when you look at the industry, most practice owners are afraid to invest in marketing. And I think because, like, there’s a lot of gurus out there that we see, and some people think that they know what they’re doing in this space, but, but truth be told, they don’t. So I’d encourage you guys obviously, work with a group that understands the world of esthetics and is in it every single day. And getting smarter and smarter and growing with you is one of the key takeaways. Okay, so let’s, let’s also talk about, like, the proper tech stack. And what is a tech stack? This is a term that I’m very familiar with. Again, most practice owners are not right. You guys go to school for a long period of time. You’re extremely informed, intelligent, you know, clinical academics totally get that. I mean, you could, you know, run circle. Around me. But when we’re talking about how to stand up proper marketing, and how to benchmark ROI and what success looks like, and how do I make sure I have the right tools and systems in place, you need to have a great tech stack to make sure you’re converting leads. You can’t just say, okay, cool. I took cams advice. We’re gonna go spend, you know, 10% of our top line, you know of marketing like, whatever our revenues, we’re gonna spend 10% of that, and hopefully that works. Like, make sure you have a great website that has good call to action with the right booking widget that is in the perfect spot. Have a chat bot, have a self assessment wizard, have a contact form. Like, you have to have great call to action, and it also has to be esthetically pleasing that has good content, of course, you know, but the most important part is like having good CTA and a good homepage and just good, you know, services and treatment menu. Their thing is, you know, have a CRM system. Customer Relationship Management is absolutely critical, and even becoming more critical. And what I mean like the the reason for that is, you know, if you’re conducting a treatment or a procedure or your team is and you don’t have a CRM system or something that’s going to help interact with these potential leads, make sure to have that have a CRM system that’s state of the art, that can create automation, sends out automated texts, automated emails, and helps convert these leads into patients. Because again, guys, every patient you get is going to stay with you for three years, and that’s what I want you guys to start thinking about. So what’s interesting is, go look at what your average ticket is, you know, and that could vary depending on provider and service and treatment. I totally get that. But what is your average ticket and the national average? You know, I’ll say this a couple times on this this episode, the national average is just south of $550
so if you have a $550
per visit patient, and they come four times a year and they stay with you for three years, they’re gonna give you six grand. Now, let’s say they send you two referrals per year, right? That’s $6,000 now, just went to $18,000 so every patient you’re not converting is potentially costing you $18,000 so if you’re afraid to spend, let’s call it 20 grand on marketing, then you’re just like, that’s one patient to one patient. Because I know if you do a wonderful job on the procedures, you deliver the confidence, you deliver the results, they’re going to come back. They are going to tell your their friends and family everything about you. They’re going to share their experience on social media, like all that stuff. It’s huge, like new patient acquisition, my thesis is the most critical thing we could be doing going into 2025 because the demands there, you have to capture it, okay, make sure you have lead generation deployment. Like run lead generation. If you guys are still not running lead gen, and you think your website and your search engine optimization is going to cut it. You’re missing out on demand. And if you are doing a build out right now, or you’re thinking about opening up location two, and you’re not at full utilization, and you’re not investing in ads like that’s the issue. You need to invest in marketing, you’re underfunding the marketing. So if you have rooms that are empty or hours that are not sold, or providers that are sitting around. Are you going to go hire providers? You need to have a lead generation strategy like extremely critical. Obviously, search engine optimization is absolutely key. You have to have SEO because you guys have a local brick and mortar store. You have a local practice where people physically walk in. They get a treatment done. It has a mailing address. It has a phone number. This is a local specific business. You have to have local SEO. Go look at your Google business profile, make sure it’s optimized. I see people set it up. They never optimize it. Google changes it. Google is now like giving you keywords based upon reviews now, which is super interesting. So instead of just asking for a review, ask for a review that gives details around what the treatment was they received. So they said came into XYZ practice, had micro needling Sally was amazing, right? Have them talk about the service and treatment they receive, not just ABC Med Spa was fantastic. The girls are so cute. Like, be specific, and I’m telling you, you know, the ones that apply this strategy in 25 are going to take market share, and hopefully you reach out to me, like cam, I listen to that episode, I implemented the strategy, and, man, thank you so much, right? So and then also, just like that’s going to funnel into patient acquisition. So that’s the front facing tech stack website, CRM, lead gen SEO, patient acquisition, complete funnel, that will hit top funnel, mid funnel, low funnel. Bookings. As a net result, I.
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Okay, then please have a sophisticated EMR system like please have a one that actually has the ability to make a online booking simplistic. Have attribution where you can tie Google Analytics four into the events. Most of them don’t. Few of them do. Okay, have something like that, and then those should integrate directly into QuickBooks. So now you have patient acquisition flow with lead nurturing flow, front facing digital marketing through website, and then you have great EMRs that actually carry the patient weight. And in your EMRs, that’s where you can focus on the retention marketing. Okay, and I want you guys to go look at your retention marketing. Your retention best in class, 70% best in class, if you have 70 70% retention, be above 60. Okay, best in class is 70. In fact, if you’re thinking of like exiting one day, one of the key KPIs private equity or strategic buyers are looking at is your retention, and they want to see you north of 70% okay, that’s directly from skytails white paper as well. Okay, so I want to get into, like, what a bad tech stack looks like. And I always see this, and this is set up for complete failure. Okay, if you have a website where maybe a colleague built it, or, like you did some trade, or you knew somebody that’s not focused on the industry, and you know, they don’t understand the content categories, they don’t understand what the call to action should be. They don’t understand the esthetics. And what’s happening with like guys this, this industry has changed so much in the last 12 months. It’s changed so much in the last three to five years, like, have somebody that’s focused on understanding how to build a correct site in this network, extremely critical. I see that all the time, people will go stand up a website on Wix or Squarespace or show it or whatever, like you’re just locking yourself into an issue that you have to remove, that you have to build the right foundation, okay? And then I’ll see like them also using another CRM system, or not have a CRM system at all, and then kind of doing SEO, but not sure what the SEO is. And maybe have dabbled in the lead gen, and maybe post on social media every once in a while, like that is a terrible tech stack. I’m just going to say what it is you can’t have success with that type of approach, right? And then I hear all the time, oh, we have an EMR system, but doesn’t have online booking. We kind of do online booking, but it’s not really baked out. Well, our EMR system is okay. We’re thinking about switching like, make sure you have integrated booking membership plans and financials. Make sure you have the ability where, in that EMR you can actually reach out to remind people to come in on if they haven’t came in in a while, remind them to come back. Okay, you have to have all that integrated. And I just see like a disconnected booking system, disconnected membership plan, disconnected financials. And I don’t know how you could actually get appropriate data to move the dials, to understand how to move the practice and the way that you want to, want to move it. So I see that all the time, like, focus on your tech stack going into 2025, okay. Now, pivoting for a second, I want to talk about the buyer journey. And again, I’ve mentioned this a few times, but did the buyer journey like your audience? You have to understand who your audience is, who your demographic is, extremely critical. But understand like, how to build the awareness. What? How do you build awareness? Right? You have, basically, you have three categories. You have word of mouth, referral. You’ve done a great job. They’re happy. They want to tell everybody about it. You need to flag that your system that it was word of mouth, referral. Then you have organic social, organic web, okay, you need to flag that as it came in, in that category. Then you have paid search, and that’s paid through Google or paid through social like those are the awareness. That’s how you get that, how people become aware of you, okay, once they become aware. Of you these consumers, they’re relatively let’s call it affluent. They go through a buyer qualification factor before they select you as the provider. Right for the most part, they they’re high income producers or on the upper scale, and they have disposable income. So I guess to sum that up, they’re they’re educated, they’re smart buyers. Okay, and shoot, if they’re going to pick a provider that’s going to alter their appearance, improve their confidence, they want to make sure you’re the right fit. Okay, so give them easy buyer qualification factors. And what I mean by that is your website. Better tell a story. You have to differentiate. Tell a story. Who are you? Why are you different? Okay, ease of booking. I say this analogy a lot, but the last time we want to do is call Delta Airlines to book a flight like no one wants to do that. It’s easy to do it online. Let them book online. And I hear all the time, yeah, kind of have online booking, but we don’t, because, you know, someone will come in and they want, let’s call it, you know, Botox. But really they need filler. They need, like, micro needling, and so the console can run longer than what it typically is. Then, you know, just put up a consultation booking, book a console and charge for the console. You guys sell time, charge for that console. It’s extremely critical, okay? And then have results. They are buying results. Guys, you need to show that to them before they see you on your website, have before and afters on your social media, show the success, show the journey. And your patients will love that right, like they’re buying a result. So coming back to the buyer, qualification factors, ease of use website, easy to click, show the result, show your expertise, and then also have great reviews and reputation, like as a provider, that is, that is the most critical when you can check those boxes, that is going to increase your conversions dramatically. Let’s talk about website a little bit more deep here. So again, on previous episodes, I kind of go a little bit deeper. But I think sometimes, as a practice owner, we get stuck in our day to day objectives, and sometimes our website just becomes an asset we have on the internet. I want you to start thinking of it as your digital practice. You go to your practice every day. When you walk in your practice, you can see all the flaws you guys look for fine lines and wrinkles, right? So you’re probably the most critical of your location. You probably see is like, is the furniture in the right way? Is there any dust? Is there any paper around? Is there any like, food that’s left around right? Like you’re probably like, before that patient comes in, you probably tidy up the space. You want to make it a great experience. But take that same mindset to your digital practice, which is your website, your digital practice is going to be seen by five times the amount than your physical practice. So take that same that same thought, Okay, now that’s going to be extremely critical in order to get yourself in position for success for 2025 now I’m going to hit this home with a couple numbers. And you know, you guys are probably getting hit hard with, like, the word KPI. You’re probably tired of hearing it, but it just kind of comes back to like, know what your goals are? What are your goals for 25 and make sure to have key performance indicators to hit those targets, right? So if your goal is to grow by 20% Great, that sounds awesome. How are you going to grow by 20% because if you’re going to show up on January one and you’re going to deploy the same playbook as 2024 and you’re expecting to grow by 20% it’s probably not going to happen. The data shows that in 2022 to 2023 most practices experienced zero growth, zero growth. It’s crazy to think about. This is
not me coming up with the numbers. This is analyzing the entire industry and getting feedback and surveys from all the practices that are out there. Okay, so if we want to grow by 20% and you’re underfunding your marketing, it’s probably a good time to address that issue. A great time, especially going into the new year. We’re goal setting, we’re planning. We’re feeling like rebirth, like we’re pumped, we’re excited. Great time to do it, guys, great time to do it. Okay, that’s the number one thing you got to do again. The demand is there. It’s your chance to go get that demand and bring those patients into your practice and boost up those utilization rates. Okay, so make sure to have that in place. Maintain accountability for the practice guys, like, from a team member standpoint, make sure they’re trained, you know, like, if you have staff that. Is not well rounded and trained. That’s like following up with leads, answering phone calls, running consults, building out a treatment plan. It’s time to address that. The person in the group that does the best of that is Terry Ross and in her entire group reach out to her. She is phenomenal. And in fact, like when I see people go through that, I was just at the forest Summit, she has a really cool business call. Business Conference. If you guys haven’t been to it, my gosh, I would highly recommend it. It’s nothing in there you’re going to find clinical it’s how to run your practice like a business benchmarks, KPIs, sales, training, marketing like it’s really cool. It’s refreshing as a someone like me to see someone like, you know, put on a conference like that that holds you to such high standards and says it what it is, so maintain accountability, like really embracing the sales process. And I know you guys don’t want to be called sales people, like I get at your providers, but at the same time that this is a sales business, it’s a marketing first, sales second, combine them two together. Have KPIs and benchmarks around them, you’re going to be set up for success, right? And then I think it would be a really good exercise to go talk to somebody who has sold their practice, go talk to somebody and say, Hey, like, when you’re going through this whole, you know, transition, like, what were some of the things that they flagged? Were they looking at patient lifetime value? Were they looking at retention rates? Like, did they buy you off of EBITDA? Like, what? Talk to me about it. You know, I’m sure you guys may know somebody that’s in your network as a colleague that would love to tell their story, and then you can kind of build a playbook around that. And I think if you effectively run your practice as if you are going to sell it to a strategic buyer, it’s just going to make your practice more efficient, and it’s going to increase profitability, even if you don’t plan to sell it like, run it like you’re going to, because it’s going to just make you that much better and hold your team accountable and make sure you have the right tools and systems in place. Okay, all right, the national average. Let’s talk about this for a sec. The national average cost per lead. National average is around red. It’s $132 a lead. So in order to generate a lead, guys, it’s going to cost you 132 bucks. That’s the average. I want you guys to be south of 100 if you’re south of 100 you’re you’re going to be set up for success. Patient acquisition cost, national average, 500 bucks to acquire a patient. The national average on a first time visit guys, 527 bucks. So if it costs you 500 bucks to generate a patient, and they are coming in and spending $527 and you have, there’s cogs on that cost of goods, you’re losing money on visit one. Okay, you need to look at your numbers. I want you to be south to $300 on a patient acquisition, so you’re actually profitable on first time visit. Obviously, increase the sales price on first time visit right don’t be the discount shop you know, like, sell the value. Pitch, pitch the journey. Pitch the patient you know, the treatment you know. Get them on the right console. Get them on the right journey, on the right path. That’s going to increase your retention as well. Okay, now to sum all that up, that brings in, like, what I really want to hone in on more is the patient lifetime value, national average, 32 53,250, bucks. That is the national average. Now, the way that you get to patient lifetime value guys is dollars per visit, how many times they come in a year? Times that by three years,
I want you to be north of 6000
the national average is 3250, I want you north of 6000 Okay, so go look at that. What is your cost per lead? What is your patient acquisition cost? Maybe you have no idea. Talk to someone that can help you find out it’s all going to be in your P L. You have to get your P L Correct. Okay, it’s all going to be in your CRM and your EMR. You have to have this data in no order to know where to drive the ship. Super important. All right, I want to talk to you guys about something. Stay with me, the utilization rates. And I may have lost you there, utilization rates. It was on a previous episode. Man, it is becoming so eye opening to me. I can’t believe that the national average is 50% like I can’t that. I have a hard time comprehending that number. And what that means is you have a location and it’s running at 50% capacity, and 50% of your costs are fixed. So it goes back to my entire thesis. If you are operating at 50% and 50% of your costs are fixed, and you’re only spending 1% of revenue on your marketing, you clear. Have a revenue to marketing ratio issue, big time.
You need to invest in marketing. Okay?
Get those utilizations. I want to see them north of 75% not for you. Okay, if you’re the provider, you’re at the 75% and you’re happy, and this is a lifestyle business for you. Great. All good. But if you have other providers, I want to see the brand north of 75% okay, that’s going to be super important. That’s like, one of the biggest numbers I want you guys to see. And you know, I think, like the industry total in 2023 did about 15 billion in sales. And if we were all running at about 75% of utilization, the industry would have done 22 billion in sales. So I personally think, like you could argue with me on this one, but I personally think we left as an industry about $7 billion on the table, if you just increase your utilization rates based upon spend into the industry. Now some would argue and say, well, the demand is not there. The demand is there, based on my research. You know, when you go fly through the airport like the world is turning when was the last time you got on an airplane and saw empty seats in first class, right? So, like the demand is there. And I am very bullish on the economy and this industry going into 2025 2627 28 and so I think, like the ones that address the revenue to marketing alignment and have a great tech stack, are going to gobble up all the patience, because we have to go somewhere. We still want to look good. We want to feel good. Shoot like, you know, once you have the drip of fine lines and wrinkles resolve and like the microneedling device that makes you look younger, it makes you feel more confident on Zoom calls, you know, or or whatever these professionals are doing. And then you you make them feel better and look better through GLP ones and, you know, hormone replacement therapy and peptides like, oh my gosh, it’s just amazing. I actually think that once you come combine injectables with weight loss hormone replacement therapy, your return per visit should be much more frequent, much more frequent. And I think your attention goes goes north of 70 70% it’ll be interesting to see the data coming up in 25 and 26 I’m excited to see it. The other thing too, guys is I constantly see people just not investing enough into how to run a phone call that comes into the practice or a very effective consultation, not being afraid to charge more. And, you know, having a really good treatment plan, like a journey plan. This is a journey. You age every day. I’m going to help you avoid that aging, but you age every day. So this is a journey. This isn’t like, come in and solve the problem for the weekend event. It’s just not that way. This is a journey. Educate your patients on the journey. You are the provider. They’re coming to you for expertise. Give them your expertise. Give them your expertise. And you know what charge for your expertise. You went to school. You’ve helped patients. You got, you know, story after story after story of successful patients and happy patients like make another patient happy, reach out to your base. You know your current patient base. If they’re not on a treatment plan, they’re not on a skin regimen, they’re not on your membership program, get them on it. Like, get them on that, right? You need them to be in your ecosystem. You need to increase your patient lifetime value. It’s super, super critical. So I’ll leave it at that. Guys, just a couple takeaways again, like, invest at least, like eight to 12% of top line into the marketing. Invest in tools, CRM, EMRs, max out your conversion rates. Learn to sell treatment plan consults, increase retention rates, and then know your numbers. Return on ad spend, cost per lead, patient, acquisition cost. Know your numbers deeper patient lifetime value and utilization rates. Thank you so much for taking the time to tune into the podcast. Guys. You guys are incredible. You know, if you guys find this episode valuable, my biggest ask is to share it. That’s it. There’s people out there that would love to hear it, please share it. Share it on social media. For me, share it with colleagues. Rate it. I would love for you to rate it. I don’t think I’ve ever asked for that before, but I think that would be super helpful, and let’s get more people tuning in. The podcast is becoming extremely popular, and you know, I’m blessed to have the opportunity to really help the audience and help practice owners excel as entrepreneurs. All right, guys, until next time, happy injecting, you.