Last time we talked about ways to market yourself and improve business.  This time, I want to spend a few lines discussing coupons, Groupons, and marketing strategies.
Everyone is looking for a bargain nowadays.  We all shop at Walmart, or Costco, or we clip coupons to save money.  Have you thought how those companies make so much money?  The answer is very simple:  It is called “volume.”
That’s it: volume.  If, during your week, you perform an average of 20 massages at $70 each, your gross income for that week, before expenses, is $1,400.  Obviously, if you want to make more money, you have to do one of two things: get more clients or charge more money.
First, more money.  You raise your price to $100. Your gross income for the week goes to $2,000.  But wait: we already established that people are looking for a bargain.  If, by raising your price, you are discouraging people from making repeat appointments and you lose some of your clients, your profit goes down.
So, now: we need to get more clients.  We have established that people are looking for a bargain so we offer a coupon or Groupon.  Let us say, for the sake of argument, that we offer 25% off our regular fee of $70.   Great: more clients.  At the lower price we need to see 27 people to make our $1,400 a week.  So let’s bump the number to 38 people to make the $2,000 at the lower price.
As you can see, numbers can be a little scary in our world.  In order to make more money we need more volume, but when you can only touch one body at a time, that volume takes a personal toll on you.  The greater the coupon value, the higher the toll.
I am not saying that we should all raise our prices and never give discounts.  What I am saying is that you need to carefully balance between the discount and the amount of people you can draw in with the coupon.  If your goal is to introduce new people to your service, a coupon is fine.  But, if the idea is that you will consistently accept coupons and give discounts for your services, you may be setting your price to a new low that you cannot go back to your regular pricing.  Typically coupons are a good thing in moderation, but as the old saying goes “too much of a good thing can be bad.”
Think about your overall income needs and set your prices accordingly.  Then you decide if you can afford to offer discounts or to accept Groupons, or other marketing tools.  As with any kind of contract, read the fine print.  Groupons sound great when you are the purchaser, but  not so great after you have signed the contract to accept these in your practice.
Be well and prosperous everyone.
Billie

As I sit and ponder all things that bring wonder to life, it occurs to me that when tasks and duties are more controlled, our time is freed up to do the things in life that bring that sense of wonder.  I have met those people who always seem to have time to take a walk on the beach, spend time with family, or even just sit and be still, and, yet, they seem to juggle multiple duties and manage busy work schedules.  And yet so many of us are stressed to the max, with little or no time for those important things in life.

So it begs the question, “What am I doing wrong?”, or, even better: “Those people can’t compare to the level of stress in my life…”  Is this really true?  Is there a class of beautiful people who always seem to wake up with their hair in place and makeup perfect?  Do some people seem to have charmed lives?  All valid questions, and, yes, I am convinced that some people do seem to live charmed lives.  They have their act together and always seem to have a lucky charm or an angel providing all the right opportunities.  But I also believe that you, too, can make those opportunities and have the ability to lead a charmed life.  There is nothing stopping you (yes, You) from leading a charmed life.

These opportunities present themselves in a multitude of ways.  On a daily basis, Lady Luck smiles on each one of us in a myriad of different ways.  The only difference, or controlling factor, is what you choose to do with the opportunities that present themselves to you.  As an example: you know you need $300 dollars to renew your automobile registration in 3 months.  You generally get $10 dollars a day in tips that you use to purchase that tasty latte with your lunch.  Every day you spend 3 to 5 dollars on the latte even though you know you do not have the money for the registration; you console yourself with the fact that something will happen to provide you with the $300 in the nick of time.  Finally, the day comes and passes when your registration is due, now you are late and the cost spirals from 300 dollars to an additional fine for being late.  You console yourself for your bad luck by having another latte…

No, I am not just talking about YOU.  But, after spending much of my own life in this state of bliss, enjoying those lattes, I speak from the voice of experience.  I know full well what my obligations are going to be for the foreseeable future but still I sip my beverage.  So, herewith and following are some things I have learned from a lifetime of experience and missteps.

A young monk approached his master.  He observed the master holding some money in his hands.  The master was smoothing each bill and stacking the bills in a way that implied a reverence for money.  The young monk asked “Master, you have taught me that money is not something we should worship, but you seem to be treating this money as though it is special.” The monk replied “No, young student – I am not worshiping this money.  I freely send it out into the world where it can do the most good.  I was just telling this money to fly into the world and do the most good for all peoples, and then I asked it to come back soon.”

Sometimes the work you do marketing your business or promoting yourself seems to be a waste of time.  When you invest your energy into your goals, that energy does come back to you in multiple ways.  Yes, I know none of us are any good at marketing, but I am here to tell you that unless you do something to make yourself stand out, other people will and they will be the ones collecting your dollars.

Marketing is simply a matter of being cordial to people.  You already have a circle of friends and family that you are comfortable with.  I suggest that you start your marketing with these people and slowly expand the circle to include acquaintances and distant relatives and finally take the plunge and strike up a conversation with someone you do not know or someone that you think is above you.  You will be surprised at how approachable people can be when you open up to them.  Try it….

Billie Shea, Chapter President