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« Dr. Yoel Moyal: The Clinique Revolution du Plateau In Montreal | Main | Francis J. Collini MD, FACS - The Renaissance Center For Plastic Surgery In ShaverTown, PA »
Friday
Aug092013

Renaissance Ideal vs. Niche Market

How broad is your menu of services?

There are arguable benefits to both generalization and specialization. 

Generalists believe that every new trend should be added to their spa offerings for fear of losing a client to a competitor. These polymaths say that customers want one stop shopping. Some like to put everything out there to see what will stick. They offer everything from bioidentical hormone replacement to laser toenail fungus treatments. DaVincians are presented with a marketing challenge as their buyers span the entire spectrum of demographics. 

Specialists insist that expertise cannot be achieved by a jack-of-all-trades. They apply the old proverb, "If you chase two rabbits, they both will get away." They focus their efforts on one or several procedures and hone their skills to levels of proficiency.  They get to know their niche consumer and target them specifically.  Sometimes, they will open a very distinct enitity like a vein clinic or a tattoo removal center. However, those with narrower menus may lose the "largely cast net" benefit of the generalist. 

While there is a happy medium between the two extremes, I have made a choice to offer fewer services over recent years.  I did a profit analysis of each service carefully capturing all associated costs.  Those procedures with lackluster returns and a low promise of improvement were dropped.  All associated equipment was liquidated. In the end, my clients respected fewer offerings rather than trying to be everything to everyone.  I am busier now than I was when I offered more.

The economic downturn combined with increased saturation of the cosmetic market has resulted in a more discerning consumer.  Today's buyer cannot afford to jump from clinic to clinic and wants to get it right the first time. This prudent purchaser may perceive a greater chance for a home run outcome in a niche setting over an "everything under the sun" venue.  The attributes sought in a provider are becoming a  matter of mastery over mediocrity.

Where do you fit in this spectrum?

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