KPIs And Incentivization
Key performance indicators (KPIs) are measurable values that demonstrate how effectively a company is meeting its key business objectives. For aesthetics practices, it’s important to have staff focused on KPIs. The best way to keep individuals focused on KPIs is to incentivize performance on those basic functions. From a financial standpoint, incentivization will drive your KPIs. But don’t think about all the different aspects like lead conversion, phone abandonment rate or email rate. Keep the incentive package focused on two simple parts:
1. Attended Appointments
2. Purchase and Total Revenue
Focus on attended appointments and people involved with lead management (answering phones or email leads), scheduled appointments. By narrowing the focus down to attended appointments, you’re going to automatically improve everything above that in the KPIs.
Purchases And Total Revenue
Focus on the number of purchases and total revenue generated for your practice. Building your incentive package around this for the staff members involved in this process, your numbers will go up immediately.
It doesn’t have to be a ton of money, and it won’t break the bank, but let your team participate in the financial performance of your practice. You’ll have a more focused, dedicated team, and you’ll going to improve your employee retention.