The Trilogy Labs team recently attended the International Society of Aesthetic Plastic Surgery (ISAPS) 24th Biennial Global Meeting in Miami, Florida, which is a conference sharing the greatest aesthetic education imaginable. Each gathering attracts thousands of attendees from around the world and has become the showcase for innovative scientific programs that are both cutting edge and diverse covering all aspects of aesthetic surgery and cosmetic medicine. Our very own Dr. Kristen Flaharty spoke on why private labeling is important in a surgeon’s practice and how to get started. Here are the three-key points Dr. Flaharty shared during her presentation:
1. Create a New Profit Center
Your patients are all buying products, even if it is just sunblock, so why not give them the option to purchase their products from you? You are much more of an expert when it comes to skin care and products than so many out there selling. By working with a lab, you can customize a product line to fit your patient demographic needs consistent with your practice. Not to mention, developing your own line can be more profitable than selling someone else’s product. Buying these products directly from a laboratory that specializes in private labeling will have much less markup compared to purchasing products from an established national brand.
One of the best reasons to consider private label skin care is exclusivity. Once you develop your line and get it into your practice, you will find that your patients bond with your products and the only place to get them is at your office. Private labeling can increase your customer loyalty and retention. Your patients see you as the expert. They seek your advice, respect your knowledge and trust your recommendations. Therefore, your endorsement of a product is the single most powerful influence on their skincare buying decisions. You’ll be amazed at the loyalty that develops with your product line over time! (Assuming you do your diligence in finding the best line to private label!) Most importantly, patients won’t be able to find your products at your competitor’s office down the street or on a website. They can only get your products from you – which keeps them coming back to your practice and your practice only.
3. Build Your Brand
Don’t underestimate the value of building your own brand and practice by having your private label skincare products out in the community. Let’s face it – we all know how expensive marketing can be between TV, radio, print and digital advertising with variable returns on that investment. The marketing and brand recognition you get through disseminating your custom products all over town can be a very powerful tool. These products will be used every day, sit on desks and on bathroom counters, and remind your patients of your practice and your products. It’s a no brainer: Building your own practice’s brand with a beneficial skin care product is much better than handing out pens or mini calendars!
As you can see, developing your own private label skin care line is a win, win, win! You can increase profits in product sales by developing a line that’s equal in efficacy to the high priced brands. You will have complete exclusivity from day one as the only place for your patients to get your branded products. Plus, you will not only expand your product’s brand, but your practice’s brand by disseminating your products in the community.
Posted in Professional Skin Care