Whether it's your first foray into buying capital equipment or you already have a number of energy-based systems in clinic, selecting your next device can be a time-consuming and often confusing process. Every manufacturer declares that their device is ‘best in class’. Many systems sold by different companies seem indistinguishable from one another. The financial investment is often eye-wateringly expensive, which may impact the treatment prices and affordability for patients. This, in turn, can impact how rapidly you can pay off the finance agreement and turn a profit. Sometimes a device you purchased is unsuitable for your demographic, unreliable or just unpopular, leaving you with a ‘white elephant’ and an expensive monthly repayment. So how do you know what to choose, and what will be a success in clinic? More importantly, will your new device deliver outstanding clinical results, make your patients happy and help grow your business? This article will guide you through the process, help minimise risks and increase the likelihood of a positive outcome.
Analyse your demographic
Before you start looking at devices online or at Aesthetic Conferences, you need to understand who it is you treat, who you want to attract and what their wants and needs are. What type of patient walks through your doors and spends money in clinic? Are they a particular age group, gender or ethnicity? Most aesthetic clinics have a mix of demographics but usually have two or three groups that make up the majority. For example, you may attract patients who are in their mid-to late-20s, menopausal women and people who want to invest in body contouring. Or you may find that you attract patients with darker skin types, affluent business people who want to optimise their wellness and younger patients new to aesthetic treatments. Use your clinic software to help you collate this information. Do your findings match what you thought was your target demographic or were there some surprises?
Now consider your location. What type of people live and work in your area and what is their social and economic status. You need to understand who is within travelling distance to your clinic and whether they have the budget for the types of treatments you want to introduce.
Finally, take time to consider whether there is a demographic—one that you currently do not attract — that you would like to bring into clinic. Perhaps women looking to restore their pre-pregnancy bodies, or patients from abroad who travel to the UK for business or leisure. ‘Future’ demographics may not be visiting you now simply because you do not have a treatment that meets their needs, so being aware of who you also want to attract helps you identify this.
What are their wants and needs?
Now that you have clearly identified 2-3 key demographics along with a potential new demographic, start to assess their wants and needs. If you notice you attract certain key groups, then they will most likely want the same or similar results from treatments you provide. Younger patients will be looking for healthy glowing filter-free skin and maybe some injectable treatments to balance their profile. Male patients may want subtle treatments that provide a more chiselled, defined look or to get a visible six pack. Women going through peri-menopause and menopause may want to reduce signs of ageing and combat hormonal changes to their face and body. Think about each demographic you treat and really dig deep into what their current concerns are for face, body, skin and wellness. Write those down. Also add to that what they tend to ask for when they come into clinic. You should start to see a clear list of treatments that your demographics want and need. Are you meeting these needs?
What does your business need?
Assess what you provide in clinic and see whether your existing treatment menu currently provides for the wants and needs of the demographics you have identified. Are there any gaps in what you offer that your demographics would want but are not currently being provided? If so, you have identified a business need that can help you decide what to invest in next. If there are a few gaps in your treatment menu, then a platform device that provides multiple treatments would be a good choice for you. It would save you money by allowing you to introduce new treatments without having to buy more than one device. However if there is just one key treatment you currently don't provide but your demographic needs, a targeted device may be a better option for you. How could a new device work with your current treatments? Not only should your next investment be able to provide something new as a standalone offering; it should also combine with existing treatments to maximise your return on investment. The more treatments it can combine with, the greater potential it has for generating revenue far faster.
Doing the analysis and knowing this information before you start looking at different technologies will help you focus on what is needed. If you know what is needed, by default you also know what is not needed and you can eliminate wasted time and effort looking at devices that don't fit with this. At this stage you should have an idea of who your key demographics are, what they want and need, what gaps you currently have in your existing treatment menu and whether you need one device or multiple.
Evaluate your limits (budget, timeline, space)
It is important to stay focused and keep your feet on the ground when selecting a new device. One way to do this is to know your business limits, whether they are physical, financial or time-sensitive. Let's start with the physical aspect: how much space you have. Some clinics have smaller treatment rooms which would not be able to accommodate a larger device, narrowing down your search by size. Or you may have a larger clinic and you need the device to be able to easy move from room to room, ruling out motion-sensitive technologies or heavy devices. If you know what room (or rooms) you could use, assess whether you could make any changes to it if needed. Some devices require a specific power socket, additional ventilation or a solid floor type. If your room cannot have changes made, then this also helps to trim down the selection of devices you are looking at.
» Speak to your accountant and ask what would be the most tax-efficient option and if it's a finance package, then consider putting the wheels in motion sooner rather than later «
What is your budget?
Now is the time to take a look at your finances and how you plan on paying for a new device. Will you need to apply for finance to fund the purchase or do you have money set aside for it? What is your absolute upper limit when it comes to financial outlay? Speak to your accountant and ask what would be the most tax-efficient option and if it's a finance package, then consider putting the wheels in motion sooner rather than later. Think of when you buy a house-it is easier to find something you need, negotiate a fair price and move quickly if you already have your mortgage pre-approved. The same applies when buying capital equipment. Get those ducks in a row and the whole process of buying becomes a lot less stressful.
By when do you need this device?
Knowing your timeline is important as many devices aren't available immediately, and some that are built to order have a lead time of 10 or more weeks. Even if you can get your hands on that device in the next few weeks, there may not be any space in the company's diary to accommodate your clinical training. Start looking sooner rather than later so you can ensure the device and the training arrives at a time that is convenient to you.
The importance of industry trends
The aesthetics sector is fast-moving. We see new developments, breakthroughs in technology, greater understanding and more efficacious treatments every six months. It's very easy to get swept along by the hype surrounding something new, especially if key people in the industry have it. When a brand invests heavily in PR for a particular device you may feel you need to buy it simply to take advantage of the buzz surrounding it. After all, patients will see the PR and look for treatment providers. STOP! Do not let trends and hype turn your head. Trends will only work if there is a demand in clinic for them and if there is longevity in it. If this treatment or device does not fit with the needs of your business and your demographic, then it will be a waste of money for you. At best, you may benefit somewhat from an increase in enquiries and a slow trickle of income, but if it doesn't meet your patient needs, then it's unlikely you will convert many enquiries into consultations and sales. However if, after careful analysis, you see you patient demographic benefiting greatly from something that is in the press marketed as ‘the next big thing’, then add this to the list for consideration.
» Do not let trends and hype turn your head. Trends will only work if there is a demand in clinic for them and if there is longevity in it. If this treatment or device does not fit with the needs of your business and your demographic, then it will be a waste of money for you «
Remember, don't succumb to purchasing a device just because ‘everyone else has it’. It has to be a good fit for you and your patients. What works for a clinic in Knightsbridge catering for international clients and affluent professionals who happily pay £3,000 for a course of treatments might not work for you and your business. Consider how competitive the market will be if everyone else has it too. Why not look at something better suited to your practice and stand out from the crowd?
Involve other people's experience in your search
If you have an idea of what type of device or technology you want to consider, look online to see who else has it. The first thing to identify is whether the device is sold to the mid/high end of aesthetic clinics, whether it is also sold to beauty salons, or even the lower end of the market. How might that reflect on you as a brand? Can you really charge higher prices for a treatment as an aesthetic nurse injector when the nail salon 2 miles away is also providing the treatment at a fraction of the price? Your experience and knowledge should carry a higher price tag of course, but will patients shopping around and comparing prices understand why your treatment is double the price of somewhere else's?
What recognisable names have the treatment and what do they say about it? Do you know anyone that has the type of technology or device you are considering? If so, it's time to speak to them and find out the real story. Things to ask include:
- Efficacy: Are the results consistently good or are they variable?
- The treatment itself: Is it easy to do? How long does it take?
- Patient feedback: Are they loving the treatment? Have they complained that it's painful or that they dislike the downtime?
- Company support: How responsive are the company reps when you need to get hold of them? This is important when it comes to ordering consumables or, should the worst happen, calling out an engineer to fix a problem.
- The business case: Was it a good investment and how quickly are they seeing a return on investment (ROI)? Would they buy it again if they went back in time?
Use this feedback to help fine-tune your selection.
Pitfalls to avoid
Having taken the previous steps you should minimise any pitfalls, but the most obvious ones are as follows. Don't overstretch your budget. There's nothing worse than having sleepless nights about finance repayments because there isn't a demand for treatment or it's outside of the budget of the majority of your patients. Don't look for the cheapest device on the market. If a cheap device claims to do ‘exactly the same’ as a device that is 5 times more expensive, then take a step back. Something will be inferior, and heaven forbid it is the results you achieve. Disappointing results will damage the trust you have built up with your patients and once trust is gone, it's very hard to get that back again. Don't rush your decision. Allow yourself at least three months (or ideally six months) to research and try a number of devices before making your choice.
»Invest time and effort in identifying the wants and needs of your demographic and business before you even begin to consider what technology or treatment you want to introduce to your clinic… It will reduce any distracting noise and head-turning PR that may tempt you to invest in a system that is not the best fit for your business«
Start your search
Now that you have followed the steps above, it's time to get serious about your search. You have an idea of what it is you want in terms of technology and treatments based on what your demographic needs. You know what will fit in well and enhance what you already provide in clinic. You know your budget and logistical limitations and you are aware of what trends may work for your business. You've spoken to peers and done your homework on who is offering the treatments you hope to add to your clinic. Start researching online, requesting clinical papers, before-and-after images, and system specifications from the suppliers. Make time to attend upcoming conferences and visit the stands of the suppliers who have devices that meet your needs. Sit in on any sponsored talks, whether that is at a conference or a workshop hosted by a supplier. Book demonstrations of any system that is of interest. Most importantly, take your time and don't allow yourself to be rushed or pressured when it comes to making a decision.
Conclusion
Invest time and effort in identifying the wants and needs of your demographic and business before you even begin to consider what technology or treatment you want to introduce to your clinic. It's this assessment of the business case that will act as a framework upon which to start your search into the best device for your clinic. It will reduce any distracting noise and head-turning PR that may tempt you to invest in a system that is not the best fit for your business. It will also simplify and streamline the decision making process once you do start researching.
Key points
- Never underestimate the importance of pre-planning prior to commencing any research on devices
- Understanding what you need along with any financial or physical limitations your business may have is essential if you to are have a successful outcome
- Once you have this information you can narrow down your search and increase the probability of selecting a device that delivers clinically and financially
CPD reflective questions
- Who is your current demographic and what is it that they want and need? Remember that wants aren't necessarily the same as needs. Also consider new demographics and their wants and needs if you are looking to attract new patients into clinic.
- What gaps are there in your existing treatment menu that would be beneficial to fill? Can introducing something new also enhance other treatments too?
- Take a look at your budget. What can you afford to invest and how will you pay for the device? Start the finance application sooner rather than later as often this can delay a purchase.
- What industry trends have longevity and would these trends fit in with the wants and needs of your patients? Are they worth investing in?
- Who else has the type of device you are considering and can you speak to them in confidence about what their experience with the system has been?