It’s the one dirty word that puts a scare into any small business: RECESSION.
Even when not technically true — meaning the defining markers of a recession aren’t present — just the speculation of an economic downturn can impact spending habits. Then, before you know it, murmurs of a recession balloon into widespread financial meltdown scaremongering.
It’s no secret that discretionary spending takes the biggest hit during an economic downturn, which makes the medspa industry particularly vulnerable. So, whether justified or imagined, the doom-and-gloom chatter causes your clients to clutch money tighter and cancel or postpone their medspa appointments.
Subsequently, many medspa owners intelligently revisit their own budgets to see where they can offset costs. Unfortunately, they often reduce their marketing by thinking, “I’ll just hit pause because now’s not the time.” But NOW is exactly the time to double down on your marketing efforts.
How to Market Your Medspa During an Economic Downturn
Stand out by standing alone
Perhaps it might be in fewer numbers, but medspa patients from your area will still be going to medspas. And as mentioned above, other medspas will (erroneously) scale back their marketing campaigns.
That means reduced competition in places that are typically flooded. So you can scoop up extra attention simply by maintaining (or, dare we suggest: increasing) your digital marketing efforts. Fewer patients mean just that = not none. So put yourself in the line of sight of the “some” and persuade them to come to you.
Some medspas actually grow during a recession
You bet they do. How? People love routine. Comfort is paramount, especially for a business that offers intimate services like a medspa. Moreover, recession or not, many patients may consider their medspa services non-negotiable, making them highly desirable clients from several perspectives.
In other words, if your digital marketing attracts new, quality patients to your medspa because other medspas took a “marketing break,” many of those clients will remain with you long-term.
Send customer appreciation into overdrive
Speaking of great clients, wooing back past or existing patients is easier than winning new ones. Make the most out of every connection; address the elephant in the room to make every client on your list feel super-loved.
Reach out acknowledging that you know medspa services are often regarded as a luxury, and many patients feel pinched by the downturn. Then, incentivize their return. Check out our: To discount or not to discount blog for five suggestions about how to gracefully offer reduced services that make everyone (including you) feel good.
Incorporate alternative marketing
At Margott, we love digital marketing but also appreciate the synergy of coupling today’s technology with good old-fashioned snail mail (the new must read!) Don’t you inspect every piece of mail you receive? Keep it postcard simple and add something valuable. Curious about how we can make direct mail work for your medical spa? Schedule a Marketing Consultation, and we’ll tell you all about it!
Cutting back your marketing in a downturn is like throwing out your watch because you want to stop time. Spend wisely to show up in all the right places.
Or better yet, let Margott handle it for you. Schedule a free Marketing Consultation, and we’ll show you what we can do to help make your medspa recession-proof.
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We'll conduct a free marketing analysis and share our findings and recommendations with you during your no-obligation Marketing Consultation.