Medical Spas: 5 Strategies to Survive the Recession

Traditionally medical spas cater to the vanity and fear of aging in their clients but with the economic downturn these people are more concerned about their mortgages than sagging skin.

 So how does a traditionally luxury or vanity based business survive when consumers are cutting luxury purchases out of their lives?

 Here are 5 strategies that get you started on realizing you can survive and maybe even thrive during a recession.

#1   Shift Your Luxury & Vanity Message

Shift your company message from luxury/non-essential services to "what we offer is essential to your life right now".  Examples of how you would do that is, focus on how the added stress they are facing is negatively affecting their skin, well being, aging process, body, confidence and much more.  Identify the problems that they face and how YOUR services and products solve those problems.  Another example, recently laid off clients may need an "image tune up" before they go out on the job hunt because of the increased number of job hunters competing for the same job.

#2  Follow the money not other Spas

Survey your clients and patients and see what THEY need and want.  Don't focus on "business as usual".  Offer them choices in price, services and education that they are looking for during these changes times.  Offer "mini" versions of some of your services at reduced pricing or diversify your products so you can cater to the client who wants to bring the "spa" experience home for a fraction of the cost.  Look at offering your own product line (contract out the manufacturing some offer no minimun order quanities--which allows you to get your own product line for $200 or less).   Be creative and resourceful

#3   Internet Marketing instead of expensive print marketing

Some spas spend thousands of dollars a month on print, TV or radio advertising.  During a slower economy a marketing audit is really necessary to weed out the advertising or marketing strategies that aren't paying off RIGHT NOW.   Start incorporating the very economical internet marketing options such as, email marketing, enewsletters, pay per click, affiliate marketing and much more.  You can reach large numbers at a fraction of the cost. 

#4  Create Complimentary Alliances

During recessions is a perfect time to band together with others.  This is really a way to benefit from other businesses' customers and they benefit from yours.  Find complimentary businesses near by that don't offer competing services or products but see "your target audience".  Such as hair salons, nail salons, massage therapists, wellness clinics, pharmacies, fitness centers/trainers and many others.  Find ways you can do coop advertising together or promote each others business.  Be creative on how you can partner to create a win-win for both.

#5   Use Public Relations by being newsworthy

Public Relations is your secret weapon during a recession.  It's free.  It reaches the masses.  It brings in new business right away.  So why doesn't everyone do it?  They're intimidated by the media.  All you have to do is tie in something that you're doing or offering to local news, trends, national news or a current social issue to get a reporter, editor or producer to bite. For example, maybe you're offering 10 mini image boot camp sessions for newly unemployed people-in order to gain an advantage in their job search.  Call local media to cover this story and say you're offering this new service now for X price. If you still don't feel comfortable with this process hire a PR specialist or media training firm to guide you through the process. 

A recession doesn't mark the end of your medical spa it just means a shift in perspective, diversifying how you help your clients and being open to charting new frontiers in marketing