Selling medical grade skincare is a win-win for you and your patients. First, it’s going to give your patients a better result and it’s going to create brand loyalty for your medi spa. Statistically, we know that to be true….
If you are meeting the industry standard, you should be at 20% retail sales to total revenue. Now, if you are meeting that, congratulations, you are doing a great job! If you’re not, I’d like to ask you why?! Why are you not making retail sales an important priority? Because if you think about it, a med spa doing a hundred thousand dollars a month in total revenue, and selling 20% retail sales, that’s $20,000 a month. And most med spas are at 50% gross pro profit when it comes to retail. That being said, if you think about it your revenue from retail sales could be equivalent to one full-time service provider that you don’t have to worry about calling in sick or a patient breaking up with you and going to the med spa down the road.
How to achieve the 20% retail sales to total revenue benchmark…
#1: Invite your retail reps in for staff training
They’re dying to come and see you, right? So you want to schedule with them, have them come in and train your team so that they can recommend with confidence so that THEY can talk to their patients about ‘common treatments + recommended retail products = amazing results to solve their problem’.
Example: “This hyaluronic acid product works amazingly with microneedling to help smooth texture and hydrate dry skin”
PRO TIP: put the products in your patients hands. It establishes the feeling of ownership making them more likely to buy it! Holding or touching a product engages an additional sense, which will in turn create a stronger connection with the product, for more return purchases, too!
I recommend treating this like a prescription, educating your patients on how and when you need to use the products they are taking home. They may purchase one product or they may purchase five, but unless you write it down and tell them what order to use the products, what days of the week, night or day, morning before makeup and all the other little things they will not consistently or correctly benefit from the sales you are making. You have to educate people on how to use a skincare regimen. This is not what they are an expert in. If you write that down and use that as a visual, when you are going to check them out, you are going to have a much higher increase in percentage.
#2 Send patients home with a treatment plan
Because maybe they don’t buy everything or anything the first time that they come in, but when they go home, they can think about it. And then next time when they come in, you’ll be able to reference and pull out the plan they have taken home. This is an opportunity to start the conversation at their next visit. Discuss adding more products to the one they purchased the last time. Ask questions about the last products they purchased, how it’s working for them and what their reviews are.
For example: I started retinol and then I got red and dry skin, so I quit. So gosh, wouldn’t have been nice if I would’ve had someone talking me off the ledge of sticking with it and getting my skin in shape or using this additional product to help alleviate some of that redness and dryness.
And when you have these forms and documents in place, you as a team leader are able to review those and then provide guidance and training of how they can continue to get better and offer more expertise and better recommendations to your patients. At the end of the day, always, always, first and foremost, it’s gonna give your patients a better result. And then as a byproduct of that, you are gonna have more revenue for your practice. So don’t ignore retail sales. It should be a goal to get to at least the industry standard of 20% of your total revenue from retail sales.