The global medical aesthetics industry was worth an estimated 25.4 billion dollars in 2023. The market is projected to grow to 67.8 billion dollars by 2032. Who are the clients powering this industry’s growth?
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Michael’s article was also published in the National Institutes of Health (NIH) and the Plastic and Aesthetic Nursing Journal.
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The majority of medical aesthetics clients are women. That classification has remained consistent, with females comprising 87% of the market in 2019 and 88% in 2022. 78% of those women are under the age of 55. The most sizable portion of the market is women between the ages of 35 and 54. Here is the breakdown:
Women 35 – 54 years old = 52% of the market.
Women 18 – 34 years old = 26% of the market.
Women 55+ years old = 22% of the market.
Who’s getting what treatment?
In 2022, the average client spent $536 per visit at a medical aesthetics practice. Most medical aesthetics practices do not accept insurance. Services offered to various age groups are as follows:
Clients in their 20s: facials, peels, skincare treatments, laser hair removal, body sculpting treatments, potentially preventative Botox.
Clients in their 30s: Botox, fillers, IPL, body sculpting treatments, facials, peels, skincare treatments.
Clients in their 40s, 50s, 60s, and above: Botox, fillers, radio frequency microneedling, IPL, skincare treatments, body sculpting, skin tightening, thread lifting, among others.
In 2022, the average age of a client who received Botox was 43 years old. That same year, 65% of clients at a given med spa were repeat clients.
Marketing wisdom from the 60s applied to 2024:
In 1966, experienced advertiser Eugene Schwartz published his book called “Breakthrough Advertising” which describes the five stages of customer awareness. He frames the stages within the context of problem/solution.
Stage 1 of 5: Problem un-aware: they don’t have a problem, or they don’t know that they have a problem.
Stage 2 of 5: Problem-aware: they know they have a problem, but they don’t know what solutions are available to solve the problem.
Stage 3 of 5: Solution-aware: they know solutions exist that can solve their problem, but they don’t know which specific solution they need.
Stage 4 of 5: Eugene called this stage “product aware.” This means the person is aware of your solution. They know your solution exists, but they don’t know enough to make a buying decision.
Stage 5 of 5: Most aware: they know a lot about your solution and your brand, they just need a reason to buy now.
Medical aesthetics clientele through the lens of customer awareness:
Stage 1 of 5: Problem un-aware: people who do not have a desire or need for aesthetic services.
Stage 2 of 5: Problem-aware: people who want to enhance their natural beauty with aesthetic services but are not aware of med spas.
Stage 3 of 5: Solution-aware: people who know that med spas offer services that can meet their needs, but they don’t know which specific med spa or which specific service they need.
Stage 4 of 5: Product-aware, aka, aware of your solution: they know about your med spa, but they don’t know enough to make a buying decision.
Stage 5 of 5: Most aware: they know quite a bit about your med spa and the specific service that they want from you, they just need a reason to buy now like a limited-time discount or an upcoming life event that they are going to experience (getting ready for a vacation, wedding, graduation, annual Christmas party, etc), which becomes the reason to visit your office and get the treatment.
Which marketing awareness stages should you focus on?
Advertising professionals often advise steering clear of the un-aware audience. The un-aware community usually has low conversion rates and high competition from mass media buyers.
The next stage, problem aware, has low competition, a relatively low cost to reach them, and the potential for high conversion rates. Some business owners overlook this segment of customers. For example, a medical aesthetics practice owner may be tempted to think, “how can someone not know what a med spa is?”
But if there were people who didn’t know about med spas yet wanted to enhance their natural beauty and were looking for solutions to do so, would you want to reach them? That is what this market segment is all about.
The third stage is made up of solution-aware people. These people know about med spas and are shopping around. They have a high conversion rate but also a high competition rate as they are evaluating multiple med spas. A high competition rate translates into a high acquisition cost. A med spa has to work harder and pay more in advertising to turn this person into a client because the client is researching potential solutions and comparing various options.
The fourth of the five stages is called product aware, and for the purposes of medical aesthetics, this means people who are aware of your med spa. Often, this group is highly profitable and smaller in size than people in the earlier stages.
For example, these people are your current and past clients. Send emails and text messages to them to stay top-of-mind, encourage repeat visits, and ask for referrals. They already know, like, and trust you. Communicate with them consistently. They are low-hanging fruit.
The fifth and final stage is the most aware audience. These people just need a reason to invest in your services. They are standing right next to the finish line and just need a little nudge to go across it.
When you are creating social media posts, ad campaigns, emails, and promotional text messages, consider which stage of awareness your audience is in and tailor your messages accordingly. That is what it means to know your audience.
Always looking to the future: preparation is the motivation for medical aesthetics services.
In the winter months, marketing campaigns for med spas often say something to the effect of “summer bodies are made in the winter! Start now to be ready for summer.”
Some med spas say that certain services like laser hair removal and weight loss treatments generate the most optimal results over time and over multiple treatments. Therefore, in order to achieve a fit, toned beach body in time for those sunny summer days, it is best to start your treatments weeks or months in advance.
Some clients’ motivation for investing in beauty services is to look and feel their best for an upcoming wedding, graduation, social gathering, or another memorable life event. When it comes to scheduling your med spa treatments, a little planning goes a long way.
The seasonality of medical aesthetics:
Client behavior also explains the seasonality of the medical aesthetics business. If your office is busy helping people look and feel fabulous before their summer vacation, it is reasonable to believe that your office will not be as busy in the summer months because your clients are on vacation. They came to you to beautify themselves before their trip, and during the summer months, they are out enjoying their vacations.
An advertising professional who can guide you through the seasons of med spa growth and the stages of your clients’ marketing awareness is an asset to any med spa owner, new or established.
Want to enhance your marketing strategy, track your important growth metrics, and reach more potential clients on a daily basis? Schedule a discovery call with Michael to see if you are a good fit to work together: https://michaelguberti.com/work-with-michael-guberti-digital-marketing-strategist/