It’s understood the economy has been reeling for quite some time now, and as such, money has been tight for a lot of people. This is especially troublesome for businesses that deal with luxury services, which are generally viewed as unnecessary expenses, such as massages. But fortunately the fate of massage therapists and their businesses are not left to the fate of the economy alone. People still desire massage therapy, although at times they feel that they should not invest in their health in a slow economy.
But there are a few things that can be done to create a larger profit margin even in these troubling times. At Organic Bath and Body, we know that help is needed which is why we have created this list of useful ways any massage business can generate some extra revenue while still reducing their overall cost to customers.
Ways To Increase Revenue
When it comes to business, any business, there are only 4 basic ways to increase revenue. Those being to attract new customers, increase the frequency of current customer visits or purchases, increase the price for customers, and decrease business expenses. Seems simple enough right?
Attracting New Customers
Attracting new customers should always be a top priority for any business. Though, that is often easier said than done. In order to attract new customers, any number of things can be done. One great tactic, which will be touched on later in this posting, is to provide incentives for potential customers such as a complimentary trial massage for a limited amount of time.
Advertising and marketing should also be a cornerstone for any business, and remember, any advertising is better than no advertising. This includes all marketing forms such as print, television, and radio. However, for smaller businesses with smaller budgets, the best option is often online. Having a web presence can do more for a business than most assume, so don’t count it out.
You also have to consider the Laws of Attraction. Why would a person choose to use your services over another? What would cause them to spend money rather than save it? Many people are often concerned with the products being used on them, and as such, offering the use of Organic & Natural Based Massage Products can be a selling point for some customers. Do you provide any additional services that accompany your massage, such as scent and or sound therapy, advice on how to reduce stress through daily activities, or even gift bags with travel size lotions and oils? Anything extra being provided beyond a massage will seem to be a bonus for customers, so be sure what you’re offering is attractive.
Increasing Frequency of Current Customer Visits
Once you’ve provided your service to a customer, there are only a few reasons as to why they wouldn’t return. They either didn’t enjoy it, didn’t feel it was worth the money, don’t feel as though they need a massage, or believe someone else does a better job. Each of these points should not only be understood, but planned around when thinking of the services you offer.
If they didn’t enjoy it, what do you believe it was they didn’t enjoy? Was the massage itself comparable to what others offer? Do you use Organic & Natural based Massage Lotions with high quality ingredients, or more generic ones?. If they didn’t feel it was worth the money, how can you change that perception? If they don’t feel as though a massage is needed, could you have made it so they felt a massage was wanted? Wants are different than necessities, and a proper massage relaxes a person tremendously. If they feel another person could have done a better job, this is where you need to take special note. Emulation is the greatest form of flattery, but it is also necessary to compete when you are being outdone by a competitor.
Increasing the Price for Customers
This is perhaps the hardest tactic to successfully accomplish when trying to increase revenue. If you increase a price from what customers are already akin to, you may very well drive some customers away. In this fashion, the only way you can increase price and not upset current customers is to provide some form of additional benefit to accompany it. For new customers however, they won’t know that you’ve increased your prices, and all you’ll have to be concerned with is ensuring you provide a service worth the price.
Decreasing Business Expenses
Finally, to increase revenue, you can decrease your business expenses. This is going to be specific to individual businesses as far as what can be done. But the main thing to do is make a list of every expense you currently have as a business, and systematically go through each to see if there are ways to reduce cost. From rent and utilities, to employees and products, everything should be scrutinized. You can very well be surprised to find a lot of money being wasted in numerous areas. That money can then be spent on marketing, or creating additional services to increase customer frequency or entice new clients. Point being, a penny saved is a penny earned, and no penny should be worth wasting.