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Future Cosmetologist! Who knew?

Insert you picture here. Future Cosmetologist! Who knew?. How will you build your business?. Yes…there really is a formula! How to calculate Client Lifetime Value (CLV). Let’s say 1 Client gets a facial ($50/month) Year 1 = $600 Over 5 Years…that Client spends $3,000

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Future Cosmetologist! Who knew?

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  1. Insert you picture here Future Cosmetologist! Who knew?

  2. How will you build your business?

  3. Yes…there really is a formula!How to calculate Client Lifetime Value (CLV)

  4. Let’s say 1 Client gets a facial ($50/month) Year 1 = $600 • Over 5 Years…that Client spends $3,000 • Over 10 Years…that Client spends $6,000 • Over 20 Years…Client spends $12,000 • Note that this is based on only one service. This does not include retail products nor other services you offer nor price increases. VALUE OF A CLIENT

  5. Now you have 5 Clients/day (5 days/week), each getting facials @ $50. Week 1 - 25 Clients * $50 = $1,250. • First Year…those 5 clients spend $65,000 • Over 5 Years they spend $325,000 • Over 10 Years they spend $650,000 Value of Client…continued

  6. …is why it is important to make sure your clients are happy with you and the services you provide. • Provide your ideal clients with one free service or a trial offer, just to show them how much you value the relationship. Repeat Business

  7. Create Your Own Referral System with complimentary service providers to exchange referrals: Cosmetologist to Estheticians to Manicurists • Recognize and thank your Referral sources • Ask for Referrals Referrals

  8. If clients don’t refer, ask them for a testimonial • Referrals Appreciated (simple sign at your station, on all your advertising, on your mail pieces, emails, business card • Proactively refer people to other businesses Referrals…continued

  9. “Your Network is YOUR Golden Egg!” –Bonnie McDonald NETWORKING

  10. Create a list of prospects…use memory jogger • Reach out to your networks online but then take the business aspect “offline” (Facebook & Twitter) • We each know about 200 people (warm market) • People we know, each know about 200 people (cold market) How to Generate Leads…

  11. Our network plus our client’s network can be more than 2000+ potential clients GeneratingLeads

  12. Start with contacting the people you know • Ask them for referrals • Offer a discounted service for their first time • Follow Up Utilizing your network

  13. Every day is a networking opportunity…in your daily life • Attend Networking Groups • Referrals How toNetwork

  14. Chamber of Commerce • Monthly Business Mixers • Meet people that want to grow their business • Referral partners • Lots of activities • Cost approximately $300 (first year), $199 annual renewal Networking Groups

  15. BNI (Business Network International) • Weekly morning meetings • One professional specialty per group • Attendance is critical. If you can’t attend, send a substitute • Tools to network, educational workshops, mentoring • Cost approximately $300 Networking Groups continued

  16. The Friends in Business Network • Weekly morning meetings • Attendance is your responsibility • Weekly Mtg Fee ($14-Members/$20 Non-Members) • Rebate of $66 per new member you refer (when they sign up) [unlimited] • Lifetime Membership of $198 Networking Groups continued

  17. Follow Up… It is important to your Business! • The fortune is in the follow-up! • Follow up with Clients is the most important action you can take in maintaining and nourishing your relationship Marketing Strategies for your Business

  18. Remembering your client makes them feel special • Call Clients to confirm appointments • Send Thank You Cards to your clients • Send Birthday Cards to your clients • Ask Clients for Testimonials…so you can feature them in your Client Testimonial Book, that will be available at your station Follow Up

  19. Cards, Postcards, etc. • Appt Reminder/Confirmation Calls/Postcards • Campaigns (create one, send to many) • Thank Clients!!! (They like to be remembered…birthdays, special events, holidays) • Contact Manager…great resource to keep all of your client’s information • Simple as index cards • Computer Based (SOC) • How to build client list (memory jogger) • Track client info/important dates Tools

  20. Commitment to Yourself &Your Clients

  21. 10. Commit to providing the best service possible 9. Always be respectful, kind and attentive 8. Remember, the customer is always right 7. Provide service with a smile…remember they come to see you to relax…and in many ways we’re the client’s therapists too! 6. Be genuine…it’s important to build trust with your client Marlene’s Top Ten

  22. 5. Be a safe haven…don’t gossip! Whatever is said to you keep confidential. 4. Always Greet your Client! 3. If you’re busy…Acknowledge your client, and let them know that you’ll be with them shortly. 2. As a service provider, be Aware of your Energy. Be in a good mood, you’re providing a “calming” service. 1. Appreciate and Thank your Clients often! Marlene’s Top Ten continued

  23. Available for a limited time (Schedule Now!) • One-on-One personal session • Narrow down your interests and help you formulate a plan • Help create a “contact list” • Set up your free gift account • Organize and help set up your contacts, campaigns, and groups Complimentary Strategy Session

  24. My Contact Info: Name Phone Email

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