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[PODCAST] Episode 47: 36 Marketing Concepts You Need to Know

By

Luis Trevino

|

May 2, 2019

Your thing is the aesthetics field, so when it comes to managing campaigns to promote your practice you might struggle a little -or maybe more than a little- to keep track of all the marketing jargon. Today we We made a little something wanting to help you feel more comfortable when working over your marketing campaigns. This information will result in handy for when you are talking with the person or team in charge of your Med Spa's marketing campaigns! 

Here goes a list of 36 of the most common terms you’ll face when talking about marketing. 

Are there different ways of marketing?

Let's talk about different ways of achieving one goal: reaching your customers wherever they are. 

What do you mean inbound & outbound? 

It might sound complicated, but it is not. Inbound marketing refers to build strategies where your ideal client reaches out for you; on the contrary, for outbound marketing, the interaction starts with you contacting your client. 

This is the age of content marketing

Right now, is the age of this kind of inbound marketing. This tactic is all about creating content that goes around your industry and knowledge and showcasing it to the world -where your potential clients are.- For instance, you share your content over social media -let it be Facebook, Instagram, Youtube, or whichever you feel comfortable with using- and build brand awareness. Take advantage of social media and get people to consume your content. Make sure you position yourself as a market leader! 

"I sent you a friend request!": Social media.

Everybody knows how to use Facebook, but when we talk about strategy, the list shortens. When you build a marketing strategy with social media, you have to design a plan where you know what, why, and when you are sharing a post. 

You got a new inbox: email marketing.

Really Straight forward. Many email managers in the market make it easier for you to create and send emails to potential customers. -Word. When it comes to MedSpa marketing, we recommend PatientGem.- Let your audience know what is happening with you, share your promotions and events to keep people coming through your door!  

"I heard she recommended this, and I trust her." Influencer marketing.

A lot of people build a career as being influencers. What does this mean? They form a massive audience by testing and reviewing services & products. People like them! You should reach out to them and build a strategy behind that trend. Leverage THEIR audience for YOUR benefit.

Pro tip: Invite an influencer to any of your events! This visit will go a long distance to building awareness. 

Conversational market: Make the most out of technology. 

Programing a conversation as if you were the one talking with your customer is easy. The most common example would be visiting a Facebook profile that triggers a chat box. Here you can start a conversation reminding you are available to answer any questions & concerns. Catching your potential customer attention with just a couple programmed interaction goes a long distance speaking about customer service! 

Text and SMS marketing: smartphones are the only thing we never forget at home. 

This one is a simple strategy where you implement text messaging to increase your business. For example, you might grab your database and send a message talking about a sweet one-day promo nobody wants to miss. Text messaging is exceptional when it comes to reaching your potential customer. In the end, people are always checking their notifications! 

Our personal favorite, Marketing automation.

Certain things should be happening in your business whenever specific actions take place. Let's say there is a purchase comes in for treatment; after half an hour, your new customer should receive a message asking if he or she would be willing to add a review in your social media. Think about all those little details that you repeat over and over and how you would save time and effort with automation! 

Marketing and sales are a field that quickly moves forward so there is a bunch of new terms emerging every now and then. We made a little something wanting to help you feel more comfortable when working over your marketing campaigns. 

General Marketing Terms

  • Marketing Funnel: a tool to track the stages of decision-making your customer goes through when completing a purchase.
  • Retargeting: online advertising that can help you keep your brand in front of bounced traffic after they leave your website.
  • A/B testing: comparing two versions of a web page, email, or other marketing strategies with one different element.
  • Buyer's Persona: a representation of your ideal customer based on market research and real data about your existing customers. 
  • Target Audience: a particular group at which our marketing aims.
  • CRM: stands for Customer Relationship Management. It's all about managing your business relationships & interactions with customers and potential customers. 
  • Case Study: the identification of a situation. Alongside with solutions & implementations. 
  • Market Research: gathering, analyzing, and interpreting information about our market.  
  • Call to Action: instructions to the audience designed to provoke an immediate response.
  • Customer Journey: the complete experience your customer goes through when interacting with your business. 
  • Smarketing: the integration of sales and marketing processes of a business. 

Marketing and Sales Metrics and Indicators

  • KPIs: stands for Key Performance Indicators. are specific, numerical metrics that organizations track to measure their progress towards a defined goal. 
  • Conversion Rate: percentage of visitors to your website that complete a purchase out of the total number of visitors. 
  • Customer Acquisition Cost: the total amount of money invested in convincing a customer to buy your product or service.
  • Customer Lifetime Value: Customer Lifetime Value: the value a customer contributes to your business over the entire lifetime investing money at your business. 
  • Cost Per Lead: Cost Per Lead: a metric used to measure how cost-effective your marketing campaigns are when it comes to generating new leads.
  • CTR: stands for Click Through Rate. The percentage of people who click on your ad after seeing your ad.
  • ROI: Stands for Return on Investment. Comparison of profitability or to compare the efficiency of different investments. Usually used to justify marketing spend and budget allocation for ongoing and future campaigns.
  • Churn Rate: the rate at which customers stop doing business with you. 
  • Margin: is a percentage measurement of profit that expresses the amount a company earns per dollar of sales.

Lead Generation

  • Lead: the initiation of consumer interest or inquiry into products or services of your business. 
  • Lead Generation: Lead Generation: practices used to attract and get people to give you their contact information to you.
  • Lead Nurturing: Lead Nurturing: it’s the process of developing relationships with buyers at every stage of the sales funnel.
  • Landing Page: site that is designed to convert visitors into leads.
  • Top of the Funnel: refers to activities that focus on lead generation and targeting consumers in the highest portion of the marketing funnel, such as spread awareness, educate prospects, and cultivate brand.
  • Middle of the Funnel: leads who are already in your database, engaging with your brand. It's time to distribute content that aligns with your buyer's needs, explode the readiness to buy.
  • Bottom of the Funnel: the purchase stage of the buying process. Offer highlight products or services more directly. 
  • Offer: Untapped area of a customer's needs and wants.
  • Flywheel: represents how you keep your customers coming back.

As you can see, there are strategies for everyone, the first thing to do should be to diagnose and evaluate where you are in the market and your ideal audience — feeling like you want to dive more into marketing tactics? You can reach out to us on our social media to talk about your business! We love helping MedSpa owners thrive!



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Welcome everyone to the Med Spa Accelerator Podcast! Brought to you by Everable Marketing! We’re excited to bring this podcast to you where we’ll be discussing the latest hacks and best practices in marketing and running a profitable medspa.

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ABOUT EVERABLE:

We Partner With You To Create 7 Figure Med Aesthetics Practices

My name is Luis Trevino and I’ve been where you are. I’ve built and ran a few 7 figure businesses and have been stressed out, overworked, and hanging on by a thread. Despite that, I still love what I do and like you, it was never about the money – it was the passion that drove me towards helping others. However, even if your financials look great, there’s something to be said about the number of hours you work each week…and the emotional toll it’s taking on your family and loved ones.

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Med Spa Accelerator  Get a Free Consultation (956) 379-6187


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