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Business Success, Part III: Strategies for Success
By: Cathy Christensen
Posted: May 26, 2010, from the June 2010 issue of Skin Inc. magazine.
"Fill in your gaps or enhance your offerings to match what the market demands," says Grenoble, president of Enchantment Group, the firm that manages Mii amo.
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And in-spa retail isn’t the only option to consider these days. “If you sell a product, does it end there or does your spa have the capability to create a passive income? Spas need to have Web sites so that clients can purchase products when they are unable to come into the spa,” explains Heathman, who also believes that retail education for spa professionals is crucial. “The investment in retail education will pay off threefold down the road. People will cancel treatments if they have to, but they will not cease purchasing products.”
Strategies for an established spa
After a spa has been open for several years, is making a profit and has an established clientele, there is no place to go but up. However, it can be easy to feel complacent and stuck in a rut after a period of time just going through the motions. How do you step it up and go to the next level with your business? “Every couple of years at a minimum, you have to look at your business and make sure it is relevant in today’s marketplace. You have to refresh your business, but don’t change it completely. You need to make sure you’re constantly improving,” says Grenoble.
Networking. “Network with as many people as you can in the industry, through conferences or online communities. Network for new ideas and to identify different things you can do,” says Cortright. It’s not only important to network with colleagues, says Suzuki, but community networking is also important. “Make sure you understand your community and who you serve within it.”
Leverage marketing. A good way to both network with other community businesses and serve the community itself is through leverage marketing. “I’m a huge believer in leverage marketing; it’s been a hallmark of our success,” says Cortright of the practice that involves two businesses with similar types of clients working together. “If we’re both trying to reach the same consumer, we can do it faster and cheaper holding hands. You can get to a deeper level of market penetration by partnering strategically,” she continues.
Part of the secret to a successful leverage marketing partnership, says Suzuki, is choosing the right partner. “Let’s say I have 20 stores in my community and there is a music store that appeals to younger audiences and a household furnishings store that appeals to female clients ages 38–50. I’m going to work with the household furnishings store first. Whether we offer reciprocal promotions or combined sponsorships, I want to associate with companies that have a common vision,” he explains.