Thanks to all of the respondents to the first Transmedica business sentiment survey.
We had an excellent response rate, with great variety and high quality answers to the questions posed. But there were also consistent underlying themes in the results. In summary:
- Most clinics are offering a wide range of treatments with injectables and laser almost universal. Device based treatments using other technologies like RF and skin needling are common and most often undertaken by auxiliary staff members.
- This growth in treatment menus hasn’t necessarily lead to an increase in profit, with clinics reporting an increase in overheads (staffing, rent and capital equipment costs) eating into margins.
- Besides strict lockdown periods, most respondents reported strong consumer demand for services. The better than expected demands were not tied necessarily to geographic areas with an upwardly mobile demographic, however in these localities consumers are likely to spend more than in others.
- Even with better than expected demand, the market for injectables is reported to be very competitive with price becoming one of the major criteria for consumers selecting a practitioner. Combined with boundaries being blurred between beauty therapies and medical aesthetics along with blurring between salons and medical clinics, owners are needing to keep a very close eye on local market conditions.
- Most positive responses came from clinics that offer a unique service or services compared to their competitors. These uniques services included surgical procedures and other treatments that offer a long-lasting result. These treatments are reported as being not as price sensitive and offering better profitability.
- With regard to the future, clinics almost universally are looking at how to consolidate and how to improve the profitability for treatments on their menus without increasing their overheads. They’re also keeping a close eye on trends to ensure that their treatments menus are up to date and that there are no ‘missing links’ in their offerings.
We look forward to hearing from you all again in the future in response to our future surveys.
Coming soon
In response to the survey results, Transmedica has recognised the high cost of attracting new patients and we’ve been looking at solutions to ease the pain. We’ve devised a new initiative to not only assist in clinics finding new clients, but also to help retain them for life.
Enquire now if you would like to be involved in this exclusive new marketing campaign to drive customers to your door and to retain them.
For more information, or to place an order, contact Elaine Winkler:
P +61 412 523 919
E elaine@transmedica.com.au
