SITUATION ANALYSIS
C O M P A N Y A N A LY S I S
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C O M PA N Y Transformations Plastic Surgery offers a wide range of cosmetic services for patients, performed by Dr. Landon Pryor.
PRODUCTS / PROCEDURES Surgical - Adbominoplasty Blepharoplasty Breast Augmentation/Reduction Breast Lift Brow Lift Buttock Augmentation Cheeck Augmentation Chin Augmentation Dimpleplasty Earlobe Repair Face Lift Fat Transfer Gynecomastia Labiaplasty Liposuction Mommy Makeover Neck Lift Otoplasty Rhinoplasty Smart Lipo™ Septoplasty Thigh Lift
Non-surgical - Bellafill® Botox® Cellulite Reduction CoolSculpting® Co2 Laser Cynosure® Laser (scars, veins, dark spots) Dermaplaning Dysport® Facial Rejuvenation Femilift™ Infini® Juvederm® Laser Tattoo Removal Restylane® Sclerotherapy Ultherapy® Vampire Facial Venus Legacy® This plan will focus on the non-surgical (Med-Spa) division of Transformations.
C O M P A N Y A N A LY S I S SALES ~ $3,000,000 (as of August 2016) ~ $1,500,000 in 2015 His profit was doubled since the year prior. Although MedSpas are growing in popularity in the Rockford area, Dr. Pryor will most likely inherit a good number of new clients, as his top competitiors will retire in the years to come.
MARKET SHARE As other med spas open up; Transformations non-surgical market share will decrease due to rising competition in the Rockford & surrounding areas.
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C O M P A N Y A N A LY S I S P H I L A N T H R O P I C S T R AT E G I E S • American Society of Indian Plastic Surgeons (ASIPS)
Secretary & Volunteer Surgeon ASIPS “is a non-profit organization of board certified plastic surgeons of Indian Heritage, who provide free surgery in India to those in need.”
• Breast Oasis International
Cofounder and Rockford Affiliate “Breast Oasis is a non-profit charitable organization dedicated to supporting communities by providing women who may not be able to afford them, with clean, certified, gently used bras.”
• UCSD Medical Center Mission Trip
Volunteer Surgeon “Students at the UCSD & health professionals traveled to Tijuana to volunteer at an orphanage, providing health education to underserved children.”
• Interface Mission Trip
Volunteer Surgeon “The Interface Mission Trip consists of of a volunteer group of plastic surgeons, anesthesia providers, nurses, pediatrics, psychosocial workers, and many other volunteers to provide cleft lip/palate and other plastic reconstructive surgeries to the under-served children.”
• Fresh Start Surgical Gifts
Volunteer Surgeon “Fresh Start Surgical Gifts transforms the lives of disadvantaged infants, children, and teens with physical deformities caused by birth, accidents, abuse, or disease through the gift of reconstructive surgery and related healthcare services.”
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B R A N D / P R O D U C T A N A LY S I S
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In this first area, we will explore the brand Transformations, including the features and benefits. We will also analyze the top 4 products/services Dr. Pryor wants to market in his communication plan.
T R A N S F O R M AT I O N S
FEMILIFT
COOLSCULPTING
CELLULAZE
CO2 R E S U R FA C I N G
F E AT U R E S
Offers incredible transforming surgical and non-surgical procedures
Alma CO2 laser to assist in vaginal irregularities and structural changes after childbirth
Targets fat cells underneath the skin, crystallizes it and dies overtime
Levels out bumps of fat, treats dimples, increase skin’s elasticity for a smoother look
Treats skin's surface (sun damaged skin, skin tone and resurfacing) through dermal levels
BENEFITS
Helps men and women gain confidence in their appearance
Intimate confidence, vaginal lubrication, sex drive
Higher self esteem, confidence
Higher self esteem, confidence in appearance
Reduces sun damage, confidence increase
PRICING
N/A
$2,000 for 3
$750-1,500
$5,000-7,000
$700-$5,400
Transformations provides consultations for non-surgical procedures. Clients must pay for the consultation, but this increases the rate of the procedure.
B R A N D / P R O D U C T A N A LY S I S CURRENT PROMOTION -
Speaking engagements Training events Charity work (that advertises the surgeon in the long run) Limited social media interactions Local news station commercials and radio Website: drpryor.com Social Media: Facebook: facebook.com/TransformationsPlasticSurgery Twitter: twitter.com/PryorMD Instagram: instagram.com/transformations_drpryor
CURRENT ADS
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B R A N D / P R O D U C T A N A LY S I S CURRENT POSITIONING After analyzing numerous online reviews of Transformations...Dr. Pryor is trusted due to his extensive medical background. Clients continue to come in for repeat procedures.
SUPPORT SERVICES -
Personal consultant Email / Fax Phone (secretary) Direct number to nurse practitioner for follow-ups Facebook messaging
BRAND EQUITY - Lacks quality marketing - Brand insistence = has a loyal client base (booked out months in advance) - Brand acceptance = trusted through word of mouth
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M A R K E T A N A LY S I S
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Based on the location of Transformations, following are the competitors in the Rockford and surrounding areas:
ROCKFORD : 5
WESTERN SUBURBS : 3
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- Karma Medspa & Wellness Center - Dermatique Laser and Skin - Epic Med Spa
Juventas Medical Spa Essential Laser & Skin Institute MD Skin Center Pedro Rodriguez MD Permanent Cosmetic Clinic
CHICAGOLAND : 13+
WISCONSIN : 1
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- Epic Med Spa
A Beautiful You Aesthetic Dermatology & Laser Surgery Chicago MedSpa Dr. James M. Platis - CosMedic Clinic Lakeview OMS MedSpa Lincoln Park Aesthetics & Smartlipo OM SPA -Cosmetic Tattoo Makeup & Skin Care Clinic Thomas A. Mustoe Thrive Medical Spa Cadella Medical Spa and Wellness Center Goldcoast MedSpa Ellehomme Holistic Med Spa Cellular Intelligence Med Spa
M A R K E T A N A LY S I S
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SEASONALITY
OPPORTUNITIES
- The holidays are a time when people often get procedures because of the ability to hide recovery under clothing.
- Medical Spa location expansion - Employment growth
- Oxygen treatments are very popular during the holiday season, as well. There are different types of these treatments available, but overall, oxygen is known for its revitalizing properties.
T H R E AT S
- About 64,000 teens get plastic surgery each year, and most of that work is done over summer vacation to allow enough time to recover or simply to remain in hiding.
OVERALL INDUSTRY TRENDS Marketdata estimates that revenues of the 2,100 U.S. medical spas reached $1.94 billion in 2012, and will hit $3.6 billion by 2016. Average revenues per facility are $924,000—with about 80% coming from procedures and 20% form retail product sales. The market is forecast to grow 18% per year. Current trending procedures include: - Brazilian Butt Lift - Breast/Butt Augmentation - Botox (Kylie Jenner) - Tummy Tucks - Eyelid surgery - Liposuction - Labiaplasty
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Human dissatisfaction/reviews Price matching Cheaper rate for same service Deals by competitors
T A R G E T M A R K E T A N A LY S I S Transformations uses a differentiated approach since they aim to target affluent caucasian women in the Rockford, Chicago and surrounding markets. The primary & secondary market include:
PRIMARY MARKET Sex: Women Age: 25-55 Occupation: Management, Business & Financial Operations Psychographics: 79.6% are mothers, 74.3% are working women, 71.6% of women ages 35-39 are married, attracted to the power, fame and attention that being a celebrity brings,workplace competition & the desire to look appealing to the opposite sex.
S E CO N DA RY M A R K E T Sex: Men Age: 25-55 Occupation: Management, Business & Financial Operations Psychographics: “Men get surgery as a key tool to help them succeed”, want to be considered the perfect male paragon, care about their “selfie game” & unsaid competition with other men.
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T A R G E T M A R K E T A N A LY S I S P R O F I L E O F T H E S P R I N G 2 01 5 B OTOX M A R K E T I N C LU D E : To get a broader understanding of our target market, we included demographic & psychographic information on the Spring 2015 Botox market:
Sex: Women Education: Post Graduate Age: 45-64 Occupation: Management, Business & Financial Operations Family Life Cycle: Either launching adult children or retirement/senior years Geographic Region: Rockford, Western suburbs of Chicago, Chicagoland area, Wisconsin Lifestyle: BBC America, Logo, MSNBC News, Bloomberg Businessweek, Bicycling, Expedia, Vevo, Whitepages Attitudes: According to Health Grades, Transformations received a 4.6 out of 5. Most clients provided Transformations with 5 star treatment. Additionally, although there are only a few reviews on Yelp, most are positive responses. Purchasing Characteristics: Refer to survey results
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T A R G E T M A R K E T A N A LY S I S
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In order to understand our target market more fully, here are their unique characteristics:
1. THE NEEDS & BENEFITS SOUGHT BY MARKET Look younger & more vibrant, improved physical health, increased social life, vocational advantages, & self confidence and esteem booster.
3. PRODUCT POSITIONING Medical Spa competitor Dr. Pedro Rodriguez got 4.3, whereas Dr. Pryor received a 4.6 (out of 5) based on a survey consisting of 47 people (healthgrades.com).
2. PRODUCT USAGE
4 . AT T I T U D E S
Who is using the product?
Health grades: 4.6 out of 5. Most clients provided Transformations with reviews of 5 star treatment
Individuals that are looking to improve their physical appearance to ultimately improve their life.
Yelp: Very few reviews on Yelp, but positive responses.
Why do they use the product? Individuals use the services because they believe that their life will be better after their physical appearance is improved. When do they use the product? Individuals use the product when they feel they need improvements in their physical appearance.
Since Transformations is a smaller brand, there isn’t much being said about Transformations directly. We did run a report showcasing the amount of posts, the reach, and overall impressions of medical spas as a whole.
T A R G E T M A R K E T A N A LY S I S
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Keyhole : Medical Spas timeline, shows how many posts and users mentioned medspas on social media, and what their reach and impressions were with other users. This information was sourced September 19 - 20th.
T A R G E T M A R K E T A N A LY S I S T A R G E T M A R K E T P U R C H A S E B E H AV I O R The target market can make an appointment for a consultation to discuss the options available for purchase. What does the decision-making process involve? - Researching procedures - Word of mouth - Reviews What sources of information are sought? - Reviews on the doctor - The procedure needed to fix my issue - Price range for procedures - How will I look after the procedure (3d rendering) What is a timeline for a purchase? - Extended decision-making - Patients need to make sure that the procedure is something they are 100% certain of Who makes the purchase? - The person who wants the change (patient) Does user purchase or is other party responsible? - User purchases but also insurance can help alleviate the costs Who influences the purchase? - A partner - who wants you to look different - Children - indirectly after childbirth - Friends - other women who’ve had similar procedures - Media - the look of celebrities & the “perfect you� - Yourself (confidence)
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C O M P E T I T I V E A N A LY S I S
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Direct competitors in terms of: TA R G E T M A R K E T S S E R V E D
COMPETITORS
P R O D U C T AT T R I B U T E S
PRICING
ROCKFORD
OSF Healthcare Pedro Rodriguez MD
Co2 resurfacing
Pricing given after $75 consultation
CHICAGO
Thomas A. Mustoe TLKM Plastic Surgery
Co2 resurfacing, femilift
Pricing given after $200 consultation
CHICAGO
James Platis MD FACS
Botox Injections, laser, skin resurfacing, fat transfer injections, chemical peels, laser hair removals
Fee waived if friend referral
CHICAGO
Lakeshore Plastic Surgery - Michael Horn
Face lift, botox, butt lift, rhinoplasty, breast, liposuction, full med spa
$100 consultation
Aesthetic Plastic and Reconstructive Surgery
Eyelid rejuvenation, fat injections, botox injections
$100 consultation fee, but if you choose to go with them they apply it to surgery
ROCKFORD
Jerome Weiskopf
Injectables : fillers, collagen, restylane, fat injections
$120 consultation
ROCKFORD
Stanley Kovak
Lip enhancement, eyelash thickening, chemical peels, CoolSculpting
Free for consultation, not for dermatologist
ROCKFORD
MD Skin Center
Laser hair removal, body contour, Botox, chemical peels
$75 consultation
WESTERN SUBURBS
C O M P E T I T I V E A N A LY S I S
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PROMOTION
(CURRENT ADVERTISING EFFORTS)
OSF Healthcare (Pedro Rodriguez MD) : No current known advertising Thomas A. Mustoe TLKM Plastic Surgery : RealSelf 100 – Awarded to the Top Social Influencers in Cosmetic Medicine 2015, Chicago Magazine Top Doctors: 1998, 2001, 2004, 2006-2015 , U.S. News & World Report Top Doctors 2011-2012 Lake Shore Plastic Surgery (Michael Horn) : B96, FoxNews Chicago, Youtube
James Platis MD FACS : ABC’s 20/20, WBBM News, Fox News, WGN News, the Chicago Tribune, and the Chicago Sun-Times, Oprah, and most recently on the Dr. Phil Show
Aesthetic Plastic & Reconstructive Surgery : No current known advertising
COMPETITIVE TRENDS ON THE RISE -
Microblading Memberships for non-surgical procedures More targeted filler applications Neurotoxins Natural Remedies Fat & Tissue Grafting NeoGraft hair replacement
Jerome Weiskopf : Tagline
Stanley Kovak : Ad
C O M P E T I T I V E A N A LY S I S
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Competitors’ strengths and weaknesses: COMPETITORS
STRENGTHS
WEAKNESSES
PERCEPTION
O S F H E A LT H C A R E (PEDRO RODRIGUEZ MD)
Has a cheaper consultation fee, Bilingual, Offers a variety of medical procedures (non-cosmetic) which makes him trustworthy, hospital affiliations, upfront, no nonsense
Not much information about his previous procedures, doesn’t have his own personal website
Likelihood of recommending Dr. Rodriguez to family and friends is 4.1 out of 5 (Health Grades)
THOMAS A. MUSTOE TLKM PLASTIC SURGERY
Has performed more than 10,000 operations, earned multiple awards in surgery
Highest consultation fee out of the competitors we have chosen to deep dive into, some clients unhappy with surgical results, bad bedside manner
Likelihood of recommending Dr. Mustoe to family and friends is 4.6 out of 5 (Health Grades)
J A M E S P L AT I S M D FA C S
Fee waived if friend referral, 2 offices, CosMedic Card, 90 day boot camp membership, high publicity, positive Yelp reviews, on the Top 10 doctor list
Botox Injections, laser, skin resurfacing, fat transfer injections, chemical peels, laser hair removals
Likelihood of recommending Dr. Platis Jr. to family and friends is 3.8 out of 5 (Health Grades)
LAKE SHORE PLASTIC SURGERY (MICHAEL HORN):
Some clients unhappy with Regularly speaks at conferences surgical results, believed to have an discussing innovative procedures. “idiotic staff”, not enough one-on-one Best known for breast augmentation. time with doctor in regards to Has a large, knowledgeable team procedural questions
Likelihood of recommending Dr. Horn to family and friends is 3.2 out of 5 (Health Grades), 4.5 Yelp Rating, some describe him as a “crook” & “idiotic”
C O M P E T I T I V E A N A LY S I S
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Competitors’ strengths and weaknesses: COMPETITORS
STRENGTHS
WEAKNESSES
PERCEPTION
AESTHETIC PLASTIC & RECONSTRUCTIVE SURGERY (DR.SAULIS)
$100 consultation fee, but will be applied towards treatment if the client moves forward, personal website, renowned in the Hinsdale/Naperville area
Long appointment wait time, doesn’t accept certain insurance companies, conflicting answers from employees
Likelihood of recommending Dr. Saulis to family and friends is 4.1 out of 5 (Health Grades)
J E R O M E W E I S KO P F
Offers a variety of medical procedures
Website is very low quality and not very clear. Expensive consultation fee
Likelihood of recommending Dr. Weiskopf to family and friends is 3.3 out of 5 (Health Grades)
S TA N L E Y K O VA K
Over 20 years of experience and no fee for consultation
He has some reviews that clearly address some flaws in his practice
Likelihood of recommending Dr. Kovak to family and friends is 3.6 out of 5 (Health Grades)
MD SKIN CENTER
Well known and is in more than one location in state of Illinois
A little less personal feel. You are going to a “center” rather than a surgeon affiliated. Consultation fee expensive for only 30 minutes
High ratings throughout the research process. 3.8 out of 5 (google reviews
MARKET RESEARCH
OBJECTIVES
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Analyze the potential barriers from getting non-surgical cosmetic procedures.
Gauge current perceptions of non-surgical cosmetic procedures.
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2 4
Understand consumer motivations toward non-surgical cosmetic prodecures.
Determine the misconceptions and fears that steer potential consumers away from getting a non-surgical cosmetic procedure.
METHODOLOGY
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The survey link was sent via Facebook, direct messaging, e-mail and text messaging.
383 people responded
&
246
qualified to take the survey
SURVEY HIGHLIGHTS
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What is your gender?
74 Men
203 Women
SURVEY HIGHLIGHTS
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What is your age?
132
26 - 31 years old
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32 - 37 years old
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44 - 49 years old
82
25 years old & younger
25
56 years old or older
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38 - 43 years old
37
50 - 55 years old
SURVEY HIGHLIGHTS
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What is your current perception of non-surgical cosmetic procedures?
28% It looks too fake.
20%
It makes people look their best.
8%
People who get them are narcissictic.
4%
It does more good than bad.
13%
It does more bad than good.
SURVEY HIGHLIGHTS
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What makes you hesitant to get a non-surgical cosmetic procedure done?
12%
Recovery/ healing time.
40% Price.
18%
36%
Lack of information.
10%
Haven’t found the right doctor/trusted a doctor yet.
23%
Dissatisfied with the results.
Fear of being “botched.”
SURVEY HIGHLIGHTS
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How can med spas that offer non-surgical cosmetic procedures alleviate your fears?
44%
Before & after photos.
43%
Debunking the misconceptions.
44%
One-on-one consultations.
21%
3D rendering.
SURVEY HIGHLIGHTS
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What would motivate you to get a non-surgical cosmetic procedure done?
16% Word of mouth.
36%
Preventing measures against aging.
48%
Seeing friend’s results.
30%
Discounted rates.
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KEY FINDINGS
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PEOPLE DON’T HAVE DISPOSABLE INCOME
40%
say that price make them hesitant to get a non-surgical procedure.
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KEY FINDINGS
28%
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PEOPLE PREFER TO LOOK LIKE THEY HAVEN’T HAD ANY PROCEDURES DONE. THEY’RE FEARFUL OF LOOKING UNNATURAL.
say that non-surgical cosmetic procedures “look too fake.”
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KEY FINDINGS
48%
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SEEI NG I N-P E RSON R E SULTS FROM PER S ONAL R E LAT IONSHIP S MAKES POT E NTIAL CONS UME RS MORE WI LL ING TO GE T A PROCEDUR E DONE .
say they would be more inclined to get a procedure done if they liked the outcome of a trusted friend or family member.
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KEY FINDINGS
88%
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DE V E LO PI N G A STR ON G, IN DIVIDUA L CON N ECTI ON WIT H T HE DOCTOR W I L L LIK E LY INCR EAS E CHA N CES O F P OT EN TI A L CL I EN TEL E.
of people say one-on-one consultations and before & after photos help alleviate fears of med spas.
S W O T A N A LY S I S
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Strengths
Weaknesses
Opportunities
Threats
Not as invasive as surgical procedures so people can consider it much easier than surgeries and operations
Non-surgical procedures and their advantages aren’t well known by the public
To inform the public about procedures
Misrepresentation of prodecures shown by celebrities
Fears and misconceptions
Employment growth
Brand acceptance = trust through WOM Booked out months in advance (repeat customers) 18 years experience Profit doubled since last year Public appearances Charitable events
Lacks quality marketing
Med Spa expansion
Leveraging current trending procedures Preventative for aging
Seasonality
INSIGHT
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I use cosmetic procedures to look and feel my best, but it’s my secret. I want people to think it’s “just natural”.
CREATIVE STRATEGY
C R E AT I V E S T R AT E G Y W H AT I S T H E C O M M U N I C AT I O N G O I N G T O A C C O M P L I S H ? - Increase awareness of med spa services Transformations offers - Reposition the brand to highlight the med spa business - Convince potential clients to get non-surgical cosmetic procedures
W H AT ’ S T H E R E A L P R O B L E M ? Transformations lacks cohesion & a solid brand identity; however, the real problem for our research if the fact that the clients don’t want to disclose their procedures with others.
WHO IS THIS AMONG? Primary Audience : Millennials + (Men & Women 25-39) - Value experience more than the product itself - They treat their multi-tasking hand-held gadgets almost like a body part - They embrace multiple modes of self-expression - Despite struggling (and often failing) to find jobs in the teeth of a recession, about nine in-ten either say that they currently have enough money or that they will eventually meet their long-term financial goals - They’re more astute to value Secondary Audience : Gen X (Men & Women 40-55) - Attentive to current news - Value contribution, feedback, recognition & autonomy - Accepting and embracing of diversity - Feel pressure in the business world to maintain their appearance - Have taken advantage of 401(k) accounts, beginning this investment much earlier in their work life, and not waited to put money aside for their children. - Brand loyal
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C R E AT I V E S T R AT E G Y SINGLE MINDED PROPOSITION Motivate people to talk about their cosmetic procedures.
REASONS TO BELIEVE Change the conversation by making cosmetic procedures less taboo.
W H AT K E E P S T H E C O N V E R S AT I O N G O I N G ? - It will catch our audiences off guard & debunk the misconceptions because current advertising doesn’t do the med spa market justice. - It’s realistic and relatable -- Transformations that are attainable. - It’s a talking point that creates a conversation that’s relevant & engaging.
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BIG IDEA
My procedure. My secret.
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REFERRAL PROGRAM GIFT CARDS
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B I L L B OA R D FO R B OTOX
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B I L L B O A R D F O R C O 2 R E S U R FA C I N G
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BILLBOARD FOR COOLSCULPTING
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BILLBOARD FOR FEMILIFT
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AD FOR THE MALL
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A D F O R T H E A M T R A K S TAT I O N
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AD FOR THE GYM #1
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AD FOR THE GYM #2
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AD FOR THE GYM #3
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S C R AT C H - O F F M A G A Z I N E I N S E R T
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S E C R E T S PAG E O N A D E S K TO P
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S E C R E T S PA G E O N A TA B L E T
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S E C R E T S PA G E O N M O B I L E + I N S TA G R A M P O S T
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S N A P C H A T F I LT E R
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E V E N T I N V I TAT I O N
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MEDIA PLAN
MEDIA PLAN
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MEDIA OBJECTIVES
M E D I A TA C T I C S
- Reach 80% of target audience at least 3 times within the next 12 months
Print: Billboards: Highways (I-90 W) Mall Kiosks: Cherryvale Mall & Edgebrook Shops Gym Advertising: Premier Fitness & FitMe Wellness Outdoor Transit: Rockford Amtrak Station Event Invite: Neighboring areas such as Timberlan, Poplar Grove and Roscoe Magazines: Parents (249), Shape (193), WebMD Magazine (277), Midwest Living (146), & the Rockford Register Star
- Target both primary (adults 25-39) & secondary (adults 40-55) audiences through strategic placements & choice of mediums - Leverage med spa seasonality by heaving up in the spring, summer, and holiday months
M E D I A S T R AT E G I E S Geography: Billboards Mall Screens Gym Outdoor Transit Direct Mail Magazines Seasonality: Heaving up in the spring, summer, and holiday months when medspa services are more centered
Digital: Secrets microsite Social: Snapchat Instagram FaceBook Event/Experiential: Ladies Night event
MEDIA PLAN
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Rockford & Surrounding Areas
MEDIA PLAN
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Rockford & Surrounding Areas
E VA L U A T I O N S H O W T O E VA L U A T E T H E C A M P A I G N Snapchat: Track how many people have used the filter Secrets Microsite: Track how many secrets were posted, the amount of information captured & how many people accessed the page Magazine Insert: See how many coupons were redeemed Ladies Night Event: Track the amount of new prospective clients captured Social Media: Measure engagement by the increase in followers, likes & overall interaction with the Transformations brand
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THANK YOU!
TYLER VAN DAHM
MARIAH WILBAT
DINA MAGON
ANDREW ZICKMUND
KATIE SHANAHAN