No matter how well the aesthetics market is performing, affordability will always be a hurdle in this industry. One way you can attract more new patients to your practice and encourage current patient retention/loyalty and repeat business is to consider ways of making your retail products and service offerings more accessible to clients. Proactively offering financing makes purchasing aesthetic services an option for potential and current clients who might not be able to otherwise afford it, resulting in potentially lost sales opportunities impacted by doubts about affordability when it comes time for the client to make their purchase decision. Flexible payment options make it possible for current clients to purchase the products and services they want immediately while taking the stress of paying immediately away with the ability to make payments over time.
Related: 3 Aesthetic Business Models Attracting Gen-Z Consumers
This is particularly true when marketing to cash-strapped younger generations. Offering more financially accessable payment options, such as patient financing platforms like CareCredit credit cards for non-medical procedures, PatientFi (alternative financing for out-of-pocket procedures), Affirm (buy-now, pay-later), Privi (subscription offering for tailored memberships) and other similar platforms, can give this patient demographic the freedom to indulge in costly aesthetic treatments when they may not have had the ability to even consider these purchases previously.
In our recent survey which asked, Are you interested in newly available flexible patient payment options? 86% of readers said yes and 14% said no.
Making your retail products and service offerings more accessible to clients is a way to overcome the hurdle of affordability and attract new patients as well as encourage and maintain repeat business from current patients. Here are five informative MedEsthetics articles to help you do just that.
- Providing Options For Patient Financing
- 4 Marketing Strategies to Attract Millennial and Gen-Z Patients
- Improving Patient Retention with Loyalty Programs
- CoverWell's Protects Against Aesthetic Procedures Not Covered by Insurance
- Galderma & PatientFi Announce a Monthly Membership Program for Custom Galderma Treatment Plans
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We'll reveal the answers in next week's MedEsthetics newsletter.
