Quarter four is a time of closure + reflection. It's our favorite quarter, because it's an opportunity to review and reflect on the year’s performance, evaluate what worked and what didn’t, and gain insights into areas for improvement. It's also the perfect time to set actionable goals for the coming year which is always exciting!
Here are some things we can do as estheticians to make the most out of this fourth quarter:
- Analyze our client retention rates and acquisition strategies. Identify trends and areas for improvement. Get super granular with it. In general what are our retention rates? What demographic has the highest retention rates? What services were most popular, or saw repeat customers? What are ways in which we previously marketed that worked? Tip: Whenever launching a marketing campaign include a way to measure it's success. For example, if sending out postcards, have an exclusive discount code to track sales.
- Review our revenue, expenses, and profit margins. Compare them to our goals. Now is a great time to cancel subscriptions we aren't using, and to go through our finances with a fine tooth comb to see where we can cut back. We are obsessed with Ciara Stockeland and her new book "Profit Genius" which goes over a simple, yet often overlooked financial strategy: it's not about how much money we make, it's about how much money we keep.
- Determine which services and products were most popular throughout the year (and that we enjoy doing) + double down on those marketing efforts
- Review client feedback to identify areas for improvement or new services to introduce.
- Optimize our holiday strategy with fun promotions and package deals. This could include gift cards promos which can increase our revenue and attract new clients.
- Prepare for the new year by creating new goals whether it's continuing education, more self-care, new services, etc. Lots of small incremental goals can often make it seem less overwhelming.
- Refresh + update our website content with current promotions, new services, and updated photos.
- Review and streamline our online booking system. Sometimes we forget to check the tech side of our business and we may not realize there are glitches or areas where we can improve the efficiency. We want to make the booking process as smooth as possible.
