Another Uphill Battle

Four years ago, I remember sending you a message about the Covid storm and what we could do about it. It's remarkable how quickly time flies and how much has changed.

When the pandemic hit, panic was everywhere. People were glued to their tellies, distracted by constant Covid news, feeling scared and uncertain.

But amidst this chaos, I saw an opportunity. I knew this was the time to calm down, focus, and get things done. This was our chance to push ourselves to the next level.

My first priority was my team. I wanted them to know that their jobs were secure, that I'd be by their side through these tough times, just as they'd brought us so many successes in good times. With this assurance in place, we were ready to tackle the challenges ahead.

We used the downtime productively. We completely revamped our websites, adding rich content and original images, preparing for global SEO expansion.

I seized the opportunity to publish my first book, "Fully Booked", launching it worldwide. Taking advantage of the quieter market, I bought our new office at a good price during the lockdown and transformed it into a designer space for our Sydney team.

But we didn't stop there. I found a new agency coach, implemented their suggestions, and as a result, we've grown by 300% since Covid. These actions weren't just about surviving the pandemic; they were about thriving despite it.

Now, four years on, we face a different uphill battle - one that's equally as daunting as Covid: the rise of interest rates and inflation. When the government provided monetary support during the pandemic, I knew we'd have to pay it back eventually multiple times. That time has come.

Today, consumers are grappling with mortgage payments that have tripled, alongside other increased expenses. For many, especially families with children, this means less disposable income for discretionary expenses like cosmetic procedures.

We've seen the impact on our clients, with some reporting booking rates down by 30 to 40% compared to last year. People are more cautious with their money and aren't returning for treatments as frequently.

Adding to this challenge, we're seeing increased salary demands in the job market. Candidates are asking for over 30% more than last year to keep up with rising living costs. As clinic owners, you're likely dealing with this double whammy of reduced bookings and increased labour costs.

So, how do we pivot through this new crisis? I believe it's time to get lean, nimble, and trim down the fat. We need to focus on key services, find ways to cut operational costs, and improve productivity for existing staff. As owners or clinic managers, we might need to roll up our sleeves and return to basic tasks we haven't done in years.

In fact, due to the skilled labour shortage and increased cost of account management, I'm personally stepping back into an account manager role after three years. I'm committed to going through this tough time with our clients, finding ways to help them pivot and succeed.

I know this economic recession is going to be another uphill battle. But keep this in mind: if we can persevere through the next tough two years, we have eight good years and another two best years awaiting us. It's a long game, but one worth playing.

Join me on this journey of optimising our businesses to be leaner, stronger, and tougher through these hard times. I've always believed that "if there is a will, there is a way".

If you need help with your marketing during these challenging times, please don't hesitate to reach out. My team and I are always here to help.

To your success,

Huyen Truong - Online Marketing for Doctors