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Joyce Sunila
President, Practice Helpers

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"Practice Helpers e-newsletters combine the best qualities of the old-fashioned doctor's newsletter with the cutting-edge power of the Internet." Roland Perez, Exec. Producer, American Health Journal, PBS

MARKETING COSTS FOR COSMETIC SURGEONS TO PLUMMET

Easing of Prices Will Begin in 2012

Wouldn’t it be great to see a headline like that? Would you just love to read that story in the Business section of The Wall Street Journal?

Good Luck

Don’t hold your breath. But while “serious” business journals won’t be printing that story any time soon, I’m here to tell you it’s true. And I can prove it -- with statistics.

Here’s my “leading economic indicator”:

In December 2011 the American Society for Aesthetic Plastic Surgery announced the results of a study showing that last year Generation X – people from 31 to 45 years old – trumped Baby Boomers as consumers of cosmetic procedures. They accounted for 43% of sales, while Boomers only comprised 28%.

This trend is likely to continue as GenXers climb the career ladder and make more money.

Do the Math

So....if Americans are signing on for cosmetic services earlier, that means your future patient roster will consist of people with very, very high Lifetime Values – 40 or 50 years’ worth of value, comprising everything from skin remodeling to implants to blephs to lip augs to facelifts and whatever else you’ve got in the toolbox. This can

pencil out to hundreds of thousands of dollars.

To keep these patients loyal, your marketing mix should be weighted towards internal marketing tools:

Patient appreciation events
Demo evenings
Birthday gift certificates
VIP Clubs (Skincare Clubs especially)
E-newsletters

Etc.

As everyone knows, these internal marketing tools are cheaper and more cost-effective than new-patient marketing.

Not Rocket Science

It doesn’t take a rocket scientist to conclude that marketing budgets will shrink as cosmetic surgeons realize they can rely on word-of-mouth and loyalty to keep their practices humming. Expensive “interruption marketing” (TV, magazines, billboards, etc.) will become a minor chord in the overall marketing symphony.

More about Internal Marketing

Of course, there’s more to internal marketing than reaching out to patients between visits. What happens during visits will become more crucial than ever before. Read my prescient article in this issue of Plastic Surgery Practice to learn more.

Yours in continued prosperity,

Joyce Sunila
President
Practice Helpers

By the way, feel free to share this message with your colleagues.

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