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Know Your Target Market

Article

Whether you’re just starting out or have an established practice, consultant Cheryl Whitman offers sage advice for matching service offerings with your target market.

business tip of the week September 7-11

Know Your Target Market

Understand Whom You Plan To Serve Before You Open Your Door.

To be successful, you must identify who your target market is and what you will be offering them. Trying to be all things to all people is likely to end in failure. Identify what you are an expert in and what service offerings compliment your medical practice. Then develop a service menu that clearly articulates those. Limit the number of offerings and price them competitively, at least until your practice is well established. Too many can confuse patients and trying to provide too many different services can hurt your profit potential.

Your goal is to understand your target market and to establish a clear identity with them. Doing so will help you generate a consistent revenue stream, help create patient loyalty, and will set you up for future growth, while maintaining your integrity as a solid Medical Aesthetic Practice.

Cheryl Whitman

Cheryl Whitman

This tip is adapted from “Beautifully Profitable, Forever Profitable,” by Cheryl Whitman.

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Have a practice management question or topic you’d like us to cover? Let us know! aestheticauth@gmail.com

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