Why Some Med Spas Fail While Others Thrive with Jake Laban
Dec 12, 2022
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In this engaging discussion, Jake Laban, co-founder and CFO of Skin by Lovely, shares his vast expertise from over 20 years in the medical aesthetics industry. He dives into the pivotal role of Botox and Juvederm in transforming the market and discusses how effective rewards programs like Alle have shaped customer loyalty. Jake recounts the founding story of Skin by Lovely, emphasizing strategic marketing amidst challenges. He also offers insights on boosting client retention and navigating growth hurdles, making it a must-listen for aspiring med spa owners.
Skin by Lovely's initial success stemmed from a lean marketing approach utilizing social media and client reviews during challenging economic times.
Emphasizing client retention through personalized engagement strategies proved critical in transforming first-time patients into loyal, returning customers.
Deep dives
Jake Laban's Journey in the Aesthetic Industry
Jake Laban began his career in the medical aesthetics field as a junior marketer for Allergan during the initial launch of Botox. His experience involved managing communications for Botox Cosmetic and Therapeutic teams, gaining insight into the multiple applications of Botox, including its therapeutic benefits, which extended beyond cosmetic use. During his time at Allergan, he progressed through roles, contributing to significant product launches like Juvederm and Latisse, and participated in the development of the Allē rewards program that fosters customer retention through loyalty incentives. This extensive background provided him with valuable knowledge that later informed his strategy in founding Skin by Lovely.
Founding Skin by Lovely: Navigating Challenges
Skin by Lovely was established in February 2009 during the economic recession when Laban's wife sought to start her own medical spa. With limited investment options, they had to adopt a 'lean and mean' approach while leveraging free marketing tools, particularly platforms like Yelp and Facebook, to grow their client base. By capitalizing on early social media and client review sites, Skin by Lovely became a notable practice in Santa Monica, successfully attracting clients with minimal marketing expenditure. This strategic focus on budget efficiency and social proofing in their marketing became instrumental in the brand's initial success.
Retention Strategies in Aesthetic Practices
Retaining clients is crucial in the aesthetics industry, with approximately 50% of first-time injectable patients failing to return for subsequent treatments. Skin by Lovely emphasizes the importance of follow-ups and patient engagement strategies to encourage clients to return, including pre-booking appointments at the end of treatments and sending personalized thank-you notes. The practice has observed a significant improvement in retention rates due to their proactive approach, which emphasizes scheduling follow-ups directly in treatment rooms instead of leaving it to front-office staff. By fostering a touch of personal connection with clients, they aim to transform first-time visits into habitual customer behavior.
Future Growth and Membership Program Plans
Jake Laban recognizes the challenge faced by busy practices that reach full capacity and the necessity for strategic growth to continue attracting clients. While considering expansion, he emphasizes the importance of knowing one’s business goals, be it maintaining a cozy practice or establishing a larger footprint. Skin by Lovely is exploring the implementation of a membership program next year as a way to enhance client loyalty and ensure a steady revenue stream while balancing affordability and perceived value. By prioritizing their existing patient relationships and exploring new ways to incentivize visits, they aim to thrive in the face of economic changes in the aesthetic market.
Welcome to episode 3 of the Med Spa Success Strategies Podcast, presented by Ricky Shockley of Med Spa Magic Marketing. On this episode, we're joined by Jake Laban, former U.S. Head of Aesthetic Portfolio Marketing for Allergan, Co-Founder of Skin By Lovely & Investor of https://www.injectionu.com/
If you're ready to implement more efficient & effective marketing strategies for your practice, book your FREE strategy session & marketing plan: https://go.medspamagicmarketing.com/appointment-funnel
About Jake Laban
Jake Laban is co-founder, President & CFO of Skin by Lovely, a chain of medical aesthetic practices in California, Oregon and Washington that has been recognized by Inc. Magazine, Portland Business Journal, and the Los Angeles Business Journal as one of the country's fastest growing private companies since 2016. Jake has more than 20 years of commercial and executive experience in the medical aesthetics industry and serves as an adviser, investor, board member, and consultant to several companies in the medical aesthetic industry. Previously, Jake was the U.S. Head of Aesthetic portfolio marketing for Allergan, where he played a key role in the launch of a number of products and programs, including BOTOX Cosmetic, Juvéderm, and the patient loyalty program now known as Alle. He holds an MBA in finance from Pepperdine University, a B.S. in management & entrepreneurship from the University of Connecticut, and a post-graduate certificate in medical marketing from the Anderson School of Business at UCLA.