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Last week we talked about finances and how to take a look at the operational expenses that face every business.
Did you find ways to cut down on some of them, even those you thought you couldn’t? Do you need help with your cash flow – you might want to explore the services of two members of our organization:
Fast Merchant Advance
5595 Orange Drive – # 209, Davie, FL 33314 / ph: 1-866-582-4953
Total Merchant Services
144 Henley Rd, Wynnewood, PA 19096 / ph: 1-877-456-8956
Two other members of the DSA who have a long time record of helping day spas meet their financial goals are:
Wellness Capital Management
16500 NE 28th Street, Bellevue, WA 98008 / ph: 1-888-727-5489
Resource & Development
1515 East Tropicana Blvd., Executive Center – Suite 630, Las Vegas, NV 89119 / ph: 702-436-0371 fax: 775-993-6006
Take a crack at them – you have nothing to lose and a lot to gain by taking a close look at your expenditures.
Today I do want to talk however about not neglecting your marketing and PR activities – as a matter of fact, those are the components you need to be extra diligent about in these times. Don’t get caught up in the myth that when the economy slows down, marketing and PR efforts are not essential – on the contrary – NOW is the time to step them up! Here are a few suggestions which will cost you next to nothing, just a little creativity and time…
Increase Your Exposure
Advertising / PR
How much are you spending on advertising and what are you getting in return for your investment? How much PR and how many educational events?
Use this time to contact your local newspaper and send them press releases on how to help their readers relax in these stressful times. Put your best foot forward to let them know that visits to your day spa are something they cannot do without because it is their health – getting pampered is just the cream on the top!
Create a special “recession survival” package using a special brand of aromatherapy – let your imagination go! – This one was a good suggestion by one of our members out there! 🙂
So much competition – how do you get around this? Your marketing message has to tell potential clients why you are different from your competition. Is it your experience, credentials, services, products, etc? Give them a reason to pick you out of the crowd. Consider DSA Accreditation!
Reward Loyal Clients
If you have not yet copied what airlines and hotels are doing – think again – they have studied consumer behavior for many decades… so do as they do: Consider creating incentives for your customers:
- Offer your high-end frequent spa-goer clients incentives to recruit more clients
- Create a “frequent flyer” reward system to keep them visiting on a regular basis
Be Creative With Your Menu
Have you studied the faces of your clients lately when they evaluate what they should choose from your menu of services? Simplify, simplify, simplify! Take a look at your menu from their perspective!
From your perspective – which services generate the most profit? Are you doing enough of them? Which generate the least profit? Are you doing too many of them? Are there some services you should drop?
- Highlight basic, healthy and economical services instead of high cost pampering
- Offer lower cost, shorter services as an alternative to higher cost, luxury services
- Take the guilt out of spending on spa services
- Emphasize stress relief, economy, effectiveness
I look forward to your feedback. Tell us about what you have been doing to increase your exposure, your awards, press articles, ads that worked (and those that didn’t) and what are you doing to reward your clients to come to you rather than go “next door” , “down the road”, or “around the corner”…you get the drift!
Filed under: DSA Money Smarts |