In this episode, Cameron is joined by Cori Sue Morris, founder and CEO of Retreat, and they discuss the importance of balancing emotional intelligence with data-driven marketing strategies, the benefits of fractional leadership, and the key performance indicators that drive successful marketing campaigns. The conversation emphasizes the need for aesthetic practices to invest in marketing to capture demand and grow their businesses effectively.

In this conversation, Cori and Cameron talk about the critical importance of investing in marketing for business growth, particularly in the aesthetics industry. They explore the role of digital advertising, the necessity of a solid tech stack for tracking marketing effectiveness, and the challenges of content creation. They also emphasize the need for practice owners to understand their marketing metrics and make informed decisions to drive long-term success.

Transcript

Welcome to Medical Millionaire, the podcast dedicated to helping med spas increase their status, visibility, and profitability. Today we’re joined by Corrie Sue Morris, a fractional Chief Marketing Officer with extensive experience in the aesthetics industry, to discuss marketing strategy, return on investment, and building successful med spa practices.

Understanding the Fractional CMO Role

What is a Fractional CMO?

• Part-time Chief Marketing Officer position
• Responsible for revenue growth and customer acquisition
• Manages marketing budgets and strategies
• Brings senior-level expertise without full-time costs
• Typically costs less than a full-time CMO (which can start at $300k+ annually)

Benefits of a Fractional CMO

• Access to experienced marketing leadership
• Cost-effective for growing practices
• Focus on accountability and results
• Brings owner mentality to marketing decisions
• Bridges gap between operations and marketing

Key Marketing Metrics and KPIs

Essential Metrics to Track

1. Revenue Growth
   • Overall business performance
   • Marketing contribution to revenue
   • Percentage of marketing spend to revenue
2. Return on Ad Spend (ROAS)
   • Industry benchmark: 7-9x return
   • Example: $1,000 spend generating $7,000-9,000 in revenue
   • Varies based on brand recognition and market maturity
3. Customer Acquisition Cost (CAC)
   • Cost to acquire each new patient
   • Relationship to lifetime value
   • Benchmarks for different services

Marketing Investment Strategy

Recommended Marketing Budget

• 2-10% of revenue should go to marketing
• Higher percentages (5-10%) for consumer brands
• Example: $500,000 revenue = $25,000 annual marketing budget
• Focus on digital marketing for trackable results

Digital Marketing Priorities

1. Google Ads
   • Local search visibility
   • “Near me” searches
   • High intent traffic
2. Social Media
   • Instagram and Facebook ads
   • Retargeting campaigns
   • Content strategy
3. Website and Booking System
   • Easy-to-manage platform
   • Integration with booking systems
   • Clear attribution tracking

Essential Tech Stack

Core Components

1. Website Platform
   • Webflow or WordPress
   • Easy to update
   • SEO-friendly
   • $50-100/month
2. Practice Management System
   • Integrated booking system
   • Patient management
   • Attribution tracking
   • $200-300/month
3. Content Creation
   • In-house content creator
   • Social media management
   • Regular content updates
   • Photography and video

Content Creation Strategy

Key Elements

1. Content Creator Requirements
   • Understanding of aesthetics industry
   • Technical filming skills
   • Reliability and commitment
   • Platform-specific expertise
2. Content Types
   • Educational content
   • Before/after results
   • Treatment demonstrations
   • Team and culture content
3. Production Schedule
   • Regular in-office filming
   • Consistent posting schedule
   • Content calendar alignment
   • Patient consent management

Implementation Tips

1. Start with Fundamentals
   • Build strong tech foundation
   • Focus on trackable channels
   • Maintain consistent branding
   • Monitor and adjust based on data
2. Avoid Common Pitfalls
   • Underspending on marketing
   • Lacking proper attribution
   • Poor tech stack integration
   • Inconsistent content creation
3. Focus on Long-term Growth
   • Invest in sustainable strategies
   • Build strong brand presence
   • Track and measure results
   • Adjust based on performance

Key Takeaways

1. Invest appropriately in marketing (2-10% of revenue)
2. Focus on trackable digital marketing channels
3. Implement proper tech stack for attribution
4. Maintain consistent content creation
5. Monitor and optimize based on data
6. Consider fractional expertise for guidance

The aesthetics industry continues to show strong growth potential, with projections of 10-15% year-over-year growth through 2025-2027. Success depends on implementing proper marketing strategies, tracking systems, and maintaining consistent brand presence in the market.