When was the last time you raised your treatment prices?
You don’t always need to use ‘rising costs’ as an excuse to do so. As your level of clinical expertise and experience grows, so does your worth.
But how do you break the news to your patients in such a way that they fully understand and accept those increases?
Here are my golden rules of thumb:
1. Be honest and don’t try to hide it. Be upfront that you are raising your prices. Tell your patients what the new prices will be and when they will come into effect (ideally 3 months from the date you make the announcement)
2. Be Flexible. No one likes being cornered with a ‘take it or leave it’ ultimatum. A price increase is more palatable if there is an option to save money. Even if you don’t expect anyone to take a less expensive alternative, offer it anyway. Consumers appreciate choices. Offering a range of options at different pricing levels may work better than offering an across-the-board price hike.
3. Explain But Don’t Apologise. As your level of clinical expertise and experience grows, so does your worth. All you need to do is explain this to your patients in a way that they can relate to. Then move on. If you’ve proven your worth, they won’t walk away.
4. Add More Value. It’s simply counter intuitive for somebody to pay more for the same thing they got for less before. What else can you include to enhance a patient’s result, or the overall patient experience? These added extras should ideally be relatively low cost for you to provide but perceived as high value by your patients.
The truth is, there are many, many ways to wrap up even the most commoditised aesthetic treatments (like botox and fillers) in such a way as to command premium prices and attract high-end patients; It’s just one of the many profit-boosting strategies I’ll be covering in my seminar this January:
Your competitors haven’t got a clue how to implement premium pricing. The strategies you will learn at this event will give you a huge advantage.