If you’re here, it’s safe to say that you’re probably thinking about how to grow the profits of your hairdressing business. Everyone that has a business will want it to grow. In a market that many consider to be oversaturated, you may be finding it very hard to stand out from the rest. In today’s market, it sometimes seems like everything has been done already. Should you only be using organic products? Should you be focusing on an unforgettable experience or edgy haircuts? What should you be thinking about?
It can all get a bit overwhelming. You can boost the revenue of your salon while still keeping the integrity of your brand intact. Here are a couple of things you need to consider if you want to grow the profits of your hairdressing business.
1. Introduce “Frequent Flyer” Programs
If you thought frequent flyer programs is an idea reserved only for the airlines, then you really need to think again. The hairdressing version of a program such as this is, for example, giving new or first-time clients an incentive to bring back their business. It’s a fantastic way to keep customers coming back for more. Some hair salons have used this technique to great success. Some go as far as offering free visits to customers that prepay for a particular number of visits. Specifically designed to keep your clientele returning for more, this tactic at its core is basically a loyalty program. Loyalty programs come in several different forms, so if you’re not comfortable offering fifty percent off deals and the like, there are a plethora of other ideas available to you.
2. Identify A Niche And Dig In
If you specialize in everything you eventually come out knowing nothing. By putting all your focus towards one particular niche, you’ll be giving yourself the chance of differentiating your business from the rest of the competition. If tape-in hair extensions is what you’re good at, then go all in on that and focus all your effort and energy in that particular sector. Given that hairdressing operations are practically a dime a dozen nowadays, it’s vital to be a little different. By setting aside a bit of your time for identifying the needs your customers require and want, also commonly known as market research, you give yourself the ability to address some of those needs directly. This will help you determine the kind of services you need to be offering, your marketing content voice, the products you need to stock, etc.
3. Try Using Client Booking Software
These days, for many people, having to call their hairdresser to make an appointment happens to be a chore that’s utterly detested. In fact, 25% of millennials or people under 35 years of age will only book appointments via online platforms. Furthermore, another 35% of your customers will most likely want to make their appointments during non-working hours. If you lack an online booking system that runs 24 hours a day, you might be losing a lot of business. Studies have shown that about 90% of the marketplaces today in general make all their bookings online. You just can’t afford to ignore this. There are many online booking platforms available. Just find the one that works best for you.
4. Sell Gift Certificates Or Gift Cards
When boosting the profits of your hair salon, selling gift cards and certificates is not just a brilliant idea. It’s practically a no-brainer. In the United States alone in the year 2016, the sale of gift cards hit the 130-billion-dollar mark. By giving your existing customers the chance to purchase gift certificates and gift cards for their friends and family, not only do you attract new clients, but you also get paid in full immediately as well as increase sales of the business. To encourage clients to purchase gift certificates, ensure you make it clear you’re selling them in the first place. Advertise via email, on your website, in store windows and at the counter. Try and encourage your employees and stylists to promote them. Make them easy for your customers to buy.
5. Create Referral Programs
A referral program that’s been done right is a win-win opportunity. One of your existing clients refers your services to a friend and then both the new friend and themselves receive a discount either in the form of a free consultation, free product, money-off or some other service and just like that you get yourself some new clientele. This is a great way to simultaneously foster the loyalty you’ve garnered with your existing customers as well as get new clientele streaming through your doors. Customer referral programs may just end up being the ticket you needed to transform your struggling business operation into a thriving one. Keep in mind that you still have to be strategic with the rewards you dish out in exchange for the referrals.
6. Transform The One-Off Services You Offer Into Subscriptions
Subscription businesses have managed to disrupt numerous industries all across the globe in recent years. Netflix with the video-rental business, Uber with the taxi service space, Airbnb with the hotel industry, Spotify with the music distribution business and so on and so forth. These programs are enjoying immense success and it’s no secret. The recurring revenue they bring in keeps them both growing and going. Why not look for a way you can incorporate this technique into your hairdressing business?
You really don’t have to be extremely creative with your marketing to bring in new business. Constantly jumping from one idea to the next might end up doing more harm than good for your business. You don’t have to overcomplicate your processes. You can change the course of your business for the better by implementing a few simple steps. It all first starts with you opening your mind to new ideas. Hopefully this article will help nudge you in the right direction.
