Latest / Salon Success Secrets — The podcast for salon owners who are done hustling harder and ready to break their revenue ceiling. / The Ultimate Guide to the Affluent Market in the Beauty and Spa Industry

Transcript

The Ultimate Guide to the Affluent Market in the Beauty and Spa Industry · Salon Success Secrets — The podcast for salon owners who are done hustling harder and ready to break their revenue ceiling.

• 0:35
  Speaker 1: Hello and welcome to today's podcast.
• 0:37
  Speaker 1: We are super excited to be diving into a topic that we love so much.
• 0:44
  Speaker 1: Today we are going to be talking about how to market and retain and gain all of the amazing people inside of the affluent market.
• 0:57
  Speaker 1: So if you would love to know more information about how to market to the affluent market, stick around.
• 1:04
  Speaker 1: We are going to dive in deep today.
• 1:07
  Speaker 1: So it's me, lindsay Lowe, and I am here with my co-host.
• 1:13
  Speaker 2: Good morning, it's Jen Booth.
• 1:16
  Speaker 1: Yes, and we are excited to really dive in deep to this subject today.
• 1:21
  Speaker 1: Some of you may know already that 80% of your revenue inside of your salon is going to come from about 20% of your guests.
• 1:31
  Speaker 1: So, wow, that's such an amazing statistic to know.
• 1:35
  Speaker 1: If you really dive in deep and look at, let's just say, for Easy Math, you have 100 guests that one service provider services each month.
• 1:45
  Speaker 1: If you look at those numbers, you'll start to notice a trend that 80% of the money comes from only 20% of the guests.
• 1:53
  Speaker 1: And, yes, you know, part of that is that they really value hair, skin, nails, whatever part of the beauty business that you might be in.
• 2:01
  Speaker 1: But the other part is is that they have the income to make that value come to reality for them.
• 2:09
  Speaker 1: And so we are excited to dive in and see how do we find more of these people, how do we, you know, take that 80% of the revenue and create more of that and just really create raving bands.
• 2:27
  Speaker 2: I love that.
• 2:27
  Speaker 2: So yesterday I mentioned this word affluent and people looked at me like they had a couple different heads trolling around in the sky there and so like we just want to get clear about what are we talking about when we mentioned the word affluent.
• 2:39
  Speaker 2: So you know, really big word clearing.
• 2:42
  Speaker 2: So affluent is having an abundance of goods or riches which is equal to being wealthy.
• 2:49
  Speaker 2: So if you think about the kind of guests that you want to come and visit your salon and spa space, having that affluent advertising, that affluent market, really takes you to a whole new level.
• 3:02
  Speaker 1: I love that we're really clear on what that is, you know, because I think, gosh, there's so many people that make up the affluent market and you know there's the mass affluent, there's the affluent and then there's the ultra affluent, and so when we're looking at these, you know part of it is, you know, it can be defined, you know, of course, by income as one of the markers.
• 3:27
  Speaker 1: You know, and that's something that we talk about inside of the PhD program, like how do we come up with a pricing structure?
• 3:32
  Speaker 1: Of course we need it to be healthy, to support the salon company so that we can really create amazing lives for the people to work on our team.
• 3:40
  Speaker 1: But we also have to make it to where it makes sense with our community and knowing what those numbers are inside of our community our average household income, all of that good stuff.
• 3:52
  Speaker 1: And so when we're thinking about the mass affluent customer, you know these customers are usually around like that 100 to $150,000 average household income market.
• 4:06
  Speaker 1: And this consumer, really, you know they'll shop at Coles, they'll shop at Macy's.
• 4:10
  Speaker 1: You know it's not always necessarily about the brand for them, but when they value something, you know they've got the expendable income to really, you know utilize those areas that they value, and you know a hair salon is one of them.
• 4:29
  Speaker 1: And so when we move beyond that mass affluent into the affluent and ultra affluent, you know of course the average household income in those populations continues to grow.
• 4:41
  Speaker 1: But when they value beauty inside and outside, if you are a salon company that is able to align with them and they can see themselves almost like a mirror inside of what you're providing to them, you know you really can understand them more and start to attract more of them.
• 5:03
  Speaker 2: I love that and you know, the thing with the affluent is they also they may have a lot of people that are so they may have that 100 to $150,000 yearly income, but you still got to find their pleasure points, because just because somebody makes $150,000 a year doesn't always make them the ideal guests.
• 5:23
  Speaker 2: You've got to really dive into, when you're marketing to the affluent, what are their true wants and desires, and we're going to dive into some case studies and things today to see how some other successful companies really market to the affluent and do a really great job with it.
• 5:39
  Speaker 1: Yes, I love that, you know, because really people inside of this market can look, you know, any age stage, like there.
• 5:48
  Speaker 1: There's not a marker for this specific consumer, but of course you know, when we're inside of the beauty business, you know some of those pleasure pieces are having, you know, a youthful appearance or you know whatever that may be.
• 6:06
  Speaker 1: I think another marker inside of this consumer that we can talk about right away is really just that their time is going to be more valuable than their money.
• 6:16
  Speaker 1: And so when, when, typically when you're dealing with an affluent customer, you know they, their time is more valuable than their money, and so they may want to experience all these amazing things, but they also want to get as many things done as possible in the shortest amount of time without compromising the experience, and so we're going to dive into that just a little bit more, but I just think that that's.
• 6:44
  Speaker 1: You know.
• 6:44
  Speaker 1: There's not one way to look at it, but that is a typical marker of this consumer is that their time is more valuable than their money.
• 6:53
  Speaker 1: Yeah, I love that.
• 6:55
  Speaker 2: And that's so true.
• 6:56
  Speaker 2: For me, time is more valuable than money as well, because we're all granted the same amount of time every day and somehow we, just as human beings, tend to discover that we always want to have more time.
• 7:08
  Speaker 2: So think about when you're putting together your packages for the affluent, or you're creating that brand that is going to have different service upgrades Like how can you advertise them that will allow them to see that, hey, I can get this amount done, I can have my hair, be the most luxurious that it can be, have color in 10 minutes, a haircut all in under, let's say, 90 minutes.
• 7:36
  Speaker 2: So they're looking for that kind of things in the marketing aspect of what you're delivering to them and that speaks to them.
• 7:43
  Speaker 2: So just think about when you're creating your post on social media.
• 7:47
  Speaker 2: Your advertising is, like how can I make sure that I show them that we understand that their time is valuable?
• 7:53
  Speaker 1: Yes, and I love that you pointed that out, jen, because when we look at some of the biggest brands inside of the beauty business that are spending a ton of money on researching consumer behavior and their wants and desires, you'll notice things like 10 minute color.
• 8:11
  Speaker 1: You'll notice things like hair treatments that don't add additional time Maybe it's something that you put on at the shampoo bowl, or it is something that you mix in with your color, or it's treatments that can be done as an esthetician that aren't adding more time, but they're getting a lot more value and they're seeing immediate results.
• 8:41
  Speaker 1: So if they're the ones pouring all the money into the research, that's something that we need to pay attention to and see how can we do that, especially, I think, in a day and age where on social media we're being sold anti hustle culture a lot.
• 8:59
  Speaker 1: Sit back and take six hours for a balayage and charge a million dollars and yada, yada.
• 9:07
  Speaker 1: You know the story.
• 9:08
  Speaker 1: You've seen the advertisement.
• 9:09
  Speaker 1: I'm sure it's sexy advertisement, but it doesn't always convert.
• 9:14
  Speaker 1: The guest that has the money to spend on a six hour appointment doesn't necessarily have the time to spend on that six hour appointment, and so how do we really dial it in so that we can serve these guests.
• 9:29
  Speaker 1: Answer that our team can have a great work life balance and get to serve some people that really do value what they're providing.
• 9:39
  Speaker 2: I love that.
• 9:39
  Speaker 2: So let's talk about different segments that we can market to or we can create to create that strategy to affluent customers.
• 9:48
  Speaker 2: So let's talk about creating a luxury brand image.
• 9:51
  Speaker 2: You know, lindsay and I had the pleasure a couple months ago I think it was June of staying at the Four Seasons, which, if you know anything about the Four Seasons in Vegas, it's actually inside the Mandalay Bay and if you've ever had that experience, you can tell they know how to market to the affluent.
• 10:09
  Speaker 2: You can actually just tell by the guests that are there.
• 10:12
  Speaker 2: So you know, every time that we would get out of an Uber, like, there was a certain greeting, it was welcome back.
• 10:17
  Speaker 2: Every time that we would go to check in or check something out, there was a certain language that they use.
• 10:23
  Speaker 2: When someone came to clean our room, there was a certain way that they left the room with a certain note and it was spotless.
• 10:31
  Speaker 2: Like I know you guys have probably stayed at hotels.
• 10:33
  Speaker 2: You're like has the maid been here today?
• 10:35
  Speaker 2: I'm not sure, because it looks like it doesn't look like it.
• 10:38
  Speaker 2: So it is like those little touch points that how, how did the Mandalay Bay even know that they needed to take it a step above and get to that affluent market and that's where the Four Seasons was married in with them is like that will be our touch point of creating that experience.
• 10:55
  Speaker 1: Absolutely, you know, and I love you know, that they, they really knew that they had to collaborate with somebody who had that luxury image, you know, because the consumer that enjoys staying at the Four Seasons yes, they still might want, you know, having the, the casino in this, you know, example right at their fingertips, but they also want to have that bit of solace and, you know, have that moment of peace that's kind of away from all the busyness but yet still be on the strip, you know.
• 11:31
  Speaker 1: And so I think that that's a really cool collaboration and case study to look at, to say like, hey, what can we take away from this inside of our salon?
• 11:41
  Speaker 1: That could really help to kind of set us apart from everywhere else.
• 11:45
  Speaker 1: You know, I think another thing that stood out to us, jen, when we say there was, when we checked in, they came out from behind, you know, their counter or front desk, however you want to say it and greeted us and showed us, you know, actually walked a ways to show where the elevators would be, let us know about some of the accommodations that they offer.
• 12:11
  Speaker 1: It wasn't like a Wham-Bam thank you, ma'am when you get in there and you could tell that they were just very present and you know they greeted you by your last name and it was just.
• 12:23
  Speaker 1: You know there are so many little touch points that really did just feel like goodness.
• 12:30
  Speaker 1: This is worth, all of you know, whatever the additional cost is and who knows, I don't, I don't actually know what, what the difference is, but as an you know, as an affluent consumer, they're not necessarily looking at that.
• 12:47
  Speaker 1: They're looking at the value that they are receiving and if it feels like they are an even exchange man, that like they are going to be raving fans and tell all of their friends about the experience that they have had inside of your beauty business.
• 13:03
  Speaker 2: Yeah, I love that.
• 13:04
  Speaker 2: And then you know they really, the affluent, really love that personalized experience and they like to kind of have bragging rights, which is okay, no judgment there.
• 13:12
  Speaker 2: It's great, we're human beings.
• 13:13
  Speaker 2: It's okay to have bragging rights.
• 13:14
  Speaker 2: It would be like getting a set of plans drawn up for a brand new house that you're building and you pay the architect $60,000.
• 13:21
  Speaker 2: Well, your neighbor next door had the same plans drawn up and they paid $10,000 for the same kind of set of drawings.
• 13:29
  Speaker 2: And it's not that any Person in this case is right or wrong, it's just that affluent person that paid the $60,000.
• 13:35
  Speaker 2: They like to use that experience to share it with the world.
• 13:39
  Speaker 2: So if you think about, like, what are the personalized touches that you have in your, in your salon spa space that maybe not even cost you a lot of money but have really that high value price to that affluent market?
• 13:51
  Speaker 2: Maybe it's a Extra hand massage at the shampoo or the treatment room.
• 13:56
  Speaker 2: Maybe it's a blanket while they're Processing, and maybe it's a blanket while they're at the relaxation room, whatever it may be.
• 14:03
  Speaker 2: Or a piece of candy waiting for them at the station when they came their favorite candy and, you know, making it more personalized.
• 14:09
  Speaker 2: Maybe it's interested versus interesting.
• 14:12
  Speaker 2: You know, we we want to make sure that we stay interested in what their wants and desires are, because that's where you really build a beautiful Relationship, and I think that's what's most important to them is to do business with people that know how to build relationships.
• 14:24
  Speaker 1: Mm-hmm.
• 14:25
  Speaker 1: Yes, I love that.
• 14:26
  Speaker 1: You know, and there you mentioned so many little elevated touches that you can create instead of you know, the salon and spa space.
• 14:33
  Speaker 1: But you can also think about different areas inside of your salon, like you know what to.
• 14:39
  Speaker 1: What do your displays look like?
• 14:40
  Speaker 1: Is there when you walk into your salon space?
• 14:44
  Speaker 1: What is reading the guest?
• 14:47
  Speaker 1: You know, are they aware of what new products that you have?
• 14:51
  Speaker 1: You know, I think lots of people get in the mindset of, okay, here's our sale or our special and I'm not saying that that's not a consumer that you're trying to market to as well.
• 15:01
  Speaker 1: I'm just saying the affluent consumer.
• 15:04
  Speaker 1: They want to know what's new, they want to know what's cutting edge, what's you know fresh on the market.
• 15:10
  Speaker 1: So, making sure you know, in addition to if you have a sale space, to Also having a space where you can say, hey, this is brand new, check it out, this is amazing.
• 15:20
  Speaker 1: You know this has hyaluronic acid in it or whatever you know it may contain that they can relate to and mirror.
• 15:27
  Speaker 1: They might think, gosh, I have that in some of my skincare items, so I know that's gonna be amazing for my scalp or vice versa, you know.
• 15:36
  Speaker 1: So, so really thinking about how you can elevate some of those spaces, you know, and and you don't have to spend you know, you don't have to spend two million dollars on a Building renovation and building a new space, you know to make it have a high impact.
• 15:51
  Speaker 1: You know, sometimes it's just deep cleaning your space and refreshing, you know, a wall with either some paint or wallpaper or something that gives it some liveliness but still let's them know hey, I'm in a salon, I'm not in somebody's home.
• 16:08
  Speaker 1: This is a salon space.
• 16:10
  Speaker 1: This is, you know, it's almost like you could have a gym at home, but going to the gym you have a different agreement when you show up there.
• 16:19
  Speaker 1: You know, sometimes people can not make that same agreement with themselves at their home gym that they do at their away gym.
• 16:26
  Speaker 1: So the salon is the same way.
• 16:28
  Speaker 1: Like they want to feel like they stepped into a different space other than their home and they're just getting ready on their regular.
• 16:33
  Speaker 1: They want to know like this is a salon or a spa and and I'm here To learn about my hair or care, I'm here to learn about my skincare, whatever it is like creating that clean and riding environment really does just, you know, set the stage for them to know hey, this is the agreement that we have here we're, we're here to serve you big while you're in our space today.
• 16:57
  Speaker 2: Hmm, I love that.
• 16:58
  Speaker 2: And so let's move on and talk about leveraging social media in online presence, because you've kind of got those little touch points now of how to set up your space To market, to the influence.
• 17:11
  Speaker 2: So let's let's talk about how you can do use social media in online presence.
• 17:14
  Speaker 2: I think one of the most beautiful things that you can do is they affluent people.
• 17:18
  Speaker 2: They have a group or circle that they usually run with and you know when they have that income to spend however they desire, meant that they always want to spend it exactly how you want them.
• 17:29
  Speaker 2: But how are they desire?
• 17:30
  Speaker 2: Then, using some of those customer testimonials from that exact person to put on your social media platforms Will engage their circle of friends as well, because you know, like you probably know like a high-end brand, let's say a Louis Vuitton, for example like you know Louis Vuitton like, if they're marketing, they know they're very, they're very strategic about who they're marketing to and who wants to spend that kind of money on a luxury bag.
• 17:58
  Speaker 1: I love that and you know you can I Think that it's still alive and well to tag different local businesses that are alike, you know, that have the same values and vision as you do and are targeting the same.
• 18:15
  Speaker 1: You know demographic of people and Also, you can still do some safe social stocking where you go and Find people that look like the type of people that you want to serve and follow them and comment on their stuff.
• 18:30
  Speaker 1: It's, you know, social media is meant to create a relationship.
• 18:33
  Speaker 1: It's not just meant to say like, hey, look at me, here I am.
• 18:37
  Speaker 1: You know it really can be a social space where it's just almost like introducing yourself, like you know you can, even if they follow you back just saying like, hey, thanks for the follow.
• 18:52
  Speaker 1: You know, if you ever want to check us out, we would love to welcome you into our space.
• 18:58
  Speaker 1: And you know you're.
• 19:01
  Speaker 1: You're not taking anything away from anyone.
• 19:03
  Speaker 1: You're just letting them know hey, we're here if you Are ever looking.
• 19:07
  Speaker 1: You're ever in the market, if your current stylist ever lets you down, or esthetician, if they ever move away, whatever that may be, we would love the opportunity to get to serve you.
• 19:16
  Speaker 1: So you know there's some really basic things that you can do inside of social media and your online presence that that really can be huge.
• 19:26
  Speaker 2: I love that you said that, lindsay, and I love that the 3S is that safe social stalking, because that really can be a beautiful gift.
• 19:33
  Speaker 2: It's a question to the Flint knowing them by name when they enter your salon space for the first time gives you so much credit in the beginning that probably not a lot of other salons and spas are doing.
• 19:45
  Speaker 2: So like working with your hospitality team to be able to marry that name to that face as soon as somebody walks in will Wow.
• 19:53
  Speaker 2: So I think of the relationship you're going to start to build right away.
• 19:57
  Speaker 1: Totally and, you know, even thinking about what does your presence look like on your website?
• 20:03
  Speaker 1: You know, if the affluent goes to your website and looks, are they going to feel like it's mirroring back to them what they see inside of themselves, you know, are they going to resonate with your mission statement?
• 20:16
  Speaker 1: Are they going to, you know, feel welcomed by this space?
• 20:19
  Speaker 1: Or is it just about some superstar stylus that work on your team?
• 20:24
  Speaker 1: You know, because, yes, of course we want to have some superstars that we work with, but we want the guests to really see themselves in your space when they go to your website.
• 20:34
  Speaker 1: You know so.
• 20:36
  Speaker 1: You know, even, maybe you've got like a salon tour.
• 20:39
  Speaker 1: You know we love to have like a Matterport that.
• 20:42
  Speaker 1: You know you could get that from just a local photographer that does photography for real estate.
• 20:50
  Speaker 1: Have them come into your space and do a Matterport, because a lot of people want to know what's it like in there.
• 20:55
  Speaker 1: What am I going to feel like?
• 20:56
  Speaker 1: What does it look like?
• 20:57
  Speaker 1: Just because the more that we can help people understand how inviting of an environment it is, the easier they can see themselves walking through the front door.
• 21:09
  Speaker 2: I love that, and so let's work on building more of those relationships too.
• 21:14
  Speaker 2: Because you want to think about, like how can I create that red carpet VIP experience, like to really love on them and show that you really care about them, to really start to give that exclusive experience.
• 21:25
  Speaker 2: So like maybe you have a special day for those affluent customers or clients or guests whatever you may call them where you do a little extra touch points, you partner with other businesses that you know that they love to shop at and you do private consultations and bring out those personalized services to make them feel really valued and special.
• 21:47
  Speaker 2: Because if you make that one affluent person feel valued and special, guess what?
• 21:52
  Speaker 2: They're going to tell all their friends about that experience that they had.
• 21:56
  Speaker 1: Totally, and I love that.
• 21:59
  Speaker 1: I think another case study to look at is the mattress store makeover, which is where, like, a struggling mattress store underwent a complete transformation by focusing on providing a high end shopping experience for those affluent customers.
• 22:18
  Speaker 1: So they kind of revamped their showroom design, they improved the quality of their products and then they implemented personalized customer service, which is what you were just talking about, that personalized customer service.
• 22:30
  Speaker 1: So, by really aligning their offerings with the desires and preferences of the affluent target market, the mattress store successfully resurrected its business.
• 22:41
  Speaker 1: And so, if you know, like hey, if you're leaving any money on the table each month, that's a great case study to think about.
• 22:51
  Speaker 1: If you were just able to focus on a couple of things, like making sure that their shopping experience is more high end, like wow, just think of how much happier the consumer would be because they were getting all of their needs met, how much happier your team would be because they were earning a higher income.
• 23:13
  Speaker 1: And ultimately, when both of those people win, then you, as the so on owner and leader, you get to win too, and so I think that those are beautiful.
• 23:25
  Speaker 1: That's a beautiful story to think about when it comes to how do we build those partnerships, those relationships with the right consumers?
• 23:36
  Speaker 2: Yeah, I love that study of the mattress store because it would be like if you have two mattress stores to enter in, one mattress store you enter in is like big blowout everything 50% off.
• 23:47
  Speaker 2: That environment is going to look a little bit different.
• 23:49
  Speaker 2: That's like the other mattress store that you enter in is like lay on our bed.
• 23:53
  Speaker 2: Try these out.
• 23:54
  Speaker 2: Here's the remote control, here's you a seasonal beverage to take along your shopping experience and let us know if there's anything else that we can help you with or support you with, or maybe a quiz that they take so they know exactly what mattress is best.
• 24:07
  Speaker 2: Those would be two totally different experiences.
• 24:10
  Speaker 2: You have to think about which one do you want your salon to represent?
• 24:15
  Speaker 1: Absolutely, jen, when you start that up, maybe think I love to talk with my newest team members when they join us really about that consumer that I love to jokingly call them too cute for a coupon, because it's true I think as a lot of new service providers enter into our industry, they're like I need to do a special, I need to offer all these deep discounts, do all this stuff.
• 24:44
  Speaker 1: But truly, the type of people that are attracted to that yes, I think that we market to all consumers.
• 24:50
  Speaker 1: We have a stylist at multiple price points so that we can capture the business of multiple people and be able to serve our entire community but truly, if they're looking to capture that 20% of those guests that are giving them 80% of the money, then they need to be thinking about things like access to private events, priority booking and upgrade on a complimentary service, instead of saying hey, here's $20 off.
• 25:18
  Speaker 1: Saying hey, I would love to offer you a complimentary, whatever treatment at your back bar you would like to offer, just because, hey, I know you're going to love this, you're going to enjoy this, you're going to rave to all your friends about it and I just want to give that as a gift to you during your first visit.
• 25:41
  Speaker 1: So really thinking about those two different types of people really helps get clarity on what it is.
• 25:49
  Speaker 1: And you're not just out there desperately grabbing, you're really focusing on hey, what are our values?
• 25:54
  Speaker 1: What's our customer service like?
• 25:56
  Speaker 1: How can we keep upgrading all areas?
• 26:00
  Speaker 2: I love that.
• 26:01
  Speaker 2: We briefly talked about creating those strategic partnerships, and there's even a case study that we came upon with a golf ball business and they call it the Lost Golf Ball Case Study.
• 26:13
  Speaker 2: And what they did is they liked to market their golf balls to the affluent enthusiast, so they collected, refurbished and instead of selling high quality used golf, they sold high quality used golf balls at a lower cost than the new ones.
• 26:27
  Speaker 2: But that helped them to build a really profitable niche within a affluent golfing community, and then they know exactly where to spend their marketing dollars.
• 26:35
  Speaker 2: They're going to be going to the golfing charities, they're going to be going to anywhere in the community that that affluent golf person is going to be at so that they then can set up and showcase what they really have.
• 26:49
  Speaker 1: Yeah, and that's brilliant.
• 26:50
  Speaker 1: Just knowing where your consumers like to hang out can help you create those strategic partnerships that work really well for you.
• 27:01
  Speaker 1: And I know probably every salon and spa everywhere in the world gets asked for 5,762 donations, and I know if you probably want to be able to donate to all of them and I know I said that because that's kind of the case of what happens here.
• 27:21
  Speaker 1: I would love to be able to give everything to every single person, but really utilizing our marketing dollars super smart inside of the salon spa beauty business is so key Because you want to make sure that if you are going to be putting your name out there, that it's getting in front of the right consumers that you're trying to attract and build a relationship with, and so I think that that golf ball case study is great that they really truly know who they're marketing to and they know where to spend those marketing dollars.
• 28:02
  Speaker 2: That's great, and so we've given you a lot of great opportunities to look at when it comes to marketing today, affluent, the other thing you want to make sure that you keep track of is just analyzing the results.
• 28:13
  Speaker 2: Like I believe that anything you do when you have marketing is just a game that we all play is to analyze the results.
• 28:19
  Speaker 2: You know, see what's working, what's not working, what do we need to elevate, what do we need to take away.
• 28:26
  Speaker 2: And our marketing is like maybe you run an ad for the.
• 28:30
  Speaker 2: You know time is money.
• 28:32
  Speaker 2: You know we talked about that earlier is like, when you run that ad for like maybe a three or six month period, see what it's like, see what the results are getting, and say you know what it's working.
• 28:41
  Speaker 2: But if we made this little adjustment, I think it would be even better.
• 28:44
  Speaker 2: So I think it's really important to you can put all these great things in place and just make sure that you're strategic on tracking and analyzing the results.
• 28:53
  Speaker 1: Yes, that's great.
• 28:54
  Speaker 1: You know, another area that we haven't said a word salon company is, you know, a VIP consumer.
• 29:02
  Speaker 1: So this consumer spends a certain amount of dollars on retail, you know, when they're at home hair care and skincare, all of that good stuff, makeup.
• 29:12
  Speaker 1: They also visit the salon a certain amount of times a year and you know they're utilizing multiple departments inside of our salon company and it's reevaluated every six months and we're just really clear to the consumer about, like, how you get to be a VIP and it's great because you know it helps people want to get there.
• 29:34
  Speaker 1: It's almost like, you know there's a well known, a couple of well known makeup or hair care companies inside of our industry that offer different loyalty programs and when you tell people how they can get somewhere, you know they get excited and want to work hard to get those extra benefits, you know, and so I think that's something that we're always tracking and analyzing the results of that to make sure, like, hey, our top 20% of clients still, you know, bringing in that 80% and how do we really even give them a space that they're like hey, this feels even more exclusive and more exciting and, you know, just for those people who truly value the beauty business.
• 30:17
  Speaker 1: They want to do whatever it takes to get there.
• 30:21
  Speaker 2: I love that.
• 30:21
  Speaker 2: So I think you guys probably have some great opportunities to look at when it comes to marketing, to the influence you know.
• 30:27
  Speaker 2: Really look at creating that luxury brand image to leverage social media and online presence.
• 30:33
  Speaker 2: Build relationships and offer exclusive experiences, create strategic partnerships and be sure to track and analyze your results.
• 30:43
  Speaker 1: All right.
• 30:44
  Speaker 1: Well, we are grateful for the time that we got to spend together and we can't wait to see you on next week's episode.
• 30:52
  Speaker 2: Bye for now Bye.