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Personalizing Your Retail Space to Captivate Consumers
“People don’t care what you do, they care why you do it.” Using that philosophy from Simon Sinek, this panel of experts from Trilogy Spa Holdings shared important tips to help spas make their retail spaces more personal and meaningful and to create curiosity with their displays.
“Every spa should have a ‘hot spot’ when you first walk in—an area that demands your attention, makes you stop and find out more,” Ingrid Middaugh advised. She also shared the value of knowing your competition. Her location in Vail, Colorado, is within a block of hundreds of shops in a major shopping area. “I go to every one of the spas in my area to see what they’re selling. I look at what’s on sale—what’s not selling for them—so I’m not going to carry them because they’re not working,” Ingrid said. “We have to keep our focus on What is wellness? and What is the theme of our spa?
Photofacial
Photofacial is a skin treatment that uses light-based technology, primarily for boosting collagen, treating hyperpigmentation, and diminishing the appearance of broken capillaries.
Physical Therapy
The treatment of physical dysfunction or injury by the use of therapeutic exercise and the application of modalities, intended to restore or facilitate normal function or development.
Pilates (Method)
Strength training movements involving coordinated breathing techniques developed in Germany by Dr. Joseph Pilates during the 1920s.
Pizzichilli
An ayurvedic oil treatment in which oil is poured onto the body through a hose and massaged into the body. This is the heaviest oil treatment and therefore the most nourishing.
Polarity Massage (Therapy)
Concept created by the Austrian born Dr. Randolph Stone in the early 1900s that is based on principles of energy and a philosophy derived from East Indian Ayurvedic teachings.
Pre-Opening Budget Planning for Spas
New spas preparing for a grand opening require a different set of budgetary considerations than an already operational spa. While an existing spa that has built a reputation in the community and has established a customer base will generate a revenue stream to cover expenses, a spa in its preopening phase usually must seek financing for the many costs incurred before its doors open to guests.
Market Research
A good feasibility study is imperative in the early stages of planning a new spa. The study should include market research of the area and your competitive set, a well-established marketing and public relations (PR) plan and an operational budget that would reflect at least the first five years—and in some cases 10 years—of operation. A feasibility study will identify how long you will need to record a return of the investment and will help you to predict whether your spa will clear a profit—or at least break even—during the first years.
Knowing what to expect—by researching spa budget tools and operations before opening day—will help pre[1]pare you for the annual process of budgeting and the day-to-day actions necessary to avoid any unhappy financial surprises. You need to know your spa business’s over[1]head by understanding your P&L’s (profit and loss statement); how to get the most from your software system through valuable reports showing KPIs (key performance indicators); how to make smart use of any downtime, such as pre-planned cross training for team members; how to take care of your staff and recruit and retain talented team members; and how to manage inventory and cost controls.
Pregnancy Massage
Prenatal massage is therapeutic bodywork that focuses on the special needs of the mother-to-be as her body goes through the dramatic changes of pregnancy.
Pricing Strategies to Maximize Revenue
At the top of every spa leader’s list is how to maximize revenue. Panelists shared their top five takeaways in this session:
- Know the industry: Take the time to find out what brought your clients to the spa and what services they are looking for. Also, know what your top selling treatments are. It will help you come up with a good pricing strategy. Research other top companies to ensure you are in alignment with your prices.
- Institute demand pricing: Know the difference between variable pricing, dynamic pricing and dynamic availability. A lot of money can be left on the table if you don’t investigate these concepts. Spa leaders need to consider their treatments menu and to look at their spa’s high yields periodically.
- Practice yield management: Consider making changes incrementally. Start by reviewing demand, looking at data and bookings by hour and by day. Then start with a small adjustment on massages on weekends—perhaps a 10 percent increase. Then add another yield. Make sure to look at feedback. Are you receiving complaints? Are customers still happy even with higher prices? Your staff also need to buy in to the process. Incentivizing your concierge to rebook clients at checkout will provide stability as the practice ensures your books are filled early. Think of creative ways to maximize revenue; look at spaces and utilization to maximize opportunity.
- Trust technology: Analytics are critical to understanding customers and their needs. Use software tools to find and act on insights into client behavior. Make sure to market yourself correctly to take advantage of opportunities. Offer online bookings and send automatic confirmation reminders to increase bookings and reduce missed appointments. Review your cancelation window: How quickly are you rebooking? Make sure to have a policy for larger bookings to avoid scrambling to fill spots when groups cancel close to their treatment times.
- Make it customizable: Give clients the opportunity to book multiple treatments or activities at once. If you’re a large hotel, allow guests to book their spa treatment, golf time, dinner reservation and other services all at once. Consider offering “add-ons” to your menu of treatments: There is a demand for additional services, and clients will take advantage of those opportunities.
Primordial Sound Meditation
Primordial Sound meditation allows you to embark on an inner journey to experience the quiet that already exists within you and reconnect to your spirit.