Skincare products improve facial aesthetics patient value By Jonathan Fine. June 21, 2017.
Only 15 per cent of patients attending a dental clinic for skincare treatment buy products, even though the average patient spends around £500 a year on skincare.
So says 5squirrels, a white labelled producer (a company that makes products you can attach your label to) that’s trying to encourage dentists to take more market share by stocking own-brand products.
A number of our clients use 5squirrels. It seems like a safe bet if you want to go down this route. The founders have backgrounds in pharmaceutics and medical aesthetics and their products contain clinically tested ingredients.
Stocking your own products solves the problem thrown up by the bewildering range of skincare products available to people these days. It’s likely that neither you nor your patients have the time or inclination to find out what ingredients like retinly palmitate or panthenoic acid are — but you can save them time and hassle by recommending the right product. You add value to their experience when you do.
Skincare products aren’t cheap, and everyone’s skin is different, so if you or your practitioners can help your patients leave with the right product, two things will happen:
- Patient value will increase — and it’s a repeat purchase and yet another reason to visit your practice
- Your service and brand experience will become stickier and more enjoyable for your patients
A study by Groupon in March found a third of women spend between £10 and £60 a month on anti-ageing facial products, and clearly the people having Botox or fillers are going to be the bigger spenders. They will welcome your product recommendations.
Meanwhile, we know that women over the age of 50 have become the UK’s biggest buyers of beauty products. In 2015 Escentual.com found customers aged 45-54 spent £2,238 a year on beauty products. The 55-64 age group was the biggest growth area, spending £2,190.45 a year, a rise of 4.9 per cent.
Add this to the average annual patient value of facial aesthetics of £1,000 with almost guaranteed long term re-purchasing cycle and you are building a robust revenue/profit stream.
So this looks like a revenue growth opportunity for practice owners without a lot of risk. 5squirrels orders start at about £1k — tell them I sent you. And if you need any help projecting or even creating your brand to ensure it works well with facial aesthetics and skincare call us at Fine Company, we can help.
JJF | [email protected] | 07860672727
“In 2015 customers aged 45-54 spent £2,238 a year on beauty products”
Jonathan Fine, MD