It goes without saying that technology, particularly AI, has been advancing at an incredible rate. In aesthetics, AI-driven chatbots, apps, and other tech have been a hot topic of discussion at recent meetings. Proponents of this technology say it can streamline communication with your patients offering 24/7 availability, faster interaction, increased efficiency, and decreased staff time/cost. But should that be your goal?

With 2024 underway, what is your business strategy/focus for the new year? Harvard professor Michael Porter (considered the guru of business strategy) teaches that the essence of any business strategy should be to build, grow, or maintain a competitive advantage for the business. Would investing in these technologies lead to an advantage for your practice? Will it help you attract, convert, and retain high-quality patients?

In the latest episode of The Practice of Business Podcast, we’ll discuss these questions in more detail. Spoiler alert, as the title likely suggests, I don’t believe using technology for significant patient communication is a good business decision. To be clear, I’m not Amish and I’m not an old guy shaking my cane, telling you things were better in my day. Technology has a role, but in your luxury aesthetic practice, I believe humans are best served by humans. This isn’t just my opinion. We’ll discuss data showing significant negative consumer sentiment towards the increased use of technology to provide “service” for customers.

A strong, differentiated brand is key to building a competitive advantage. Think of your own experience as a consumer. When you think of “fast, efficient” service with minimal human interaction, which brands come to mind? Are any of them considered luxury brands? You may think of fast/efficient when ordering Starbucks, but when you go to your favorite restaurant for a special dinner, do you want less personal interaction?

One of the hallmarks of a luxury brand is high levels of customer attention and service.

Did you feel better served when your local supermarket/Target/Walmart added self-checkout lanes? Once the first of these companies added the technology, how long before others did the same? Does it feel differentiated?

For high-quality patients, aesthetic procedures are an emotional luxury experience. As our industry becomes more competitive, automating the patient/customer experience may have the opposite effect you desire. Without a clearly differentiated brand and experience, patients may start to view all the options as “good enough”. Once that happens, they will use price as the differentiator.

Technology absolutely has a place in your business. But before you invest in machines to communicate with your patients, ask how it impacts your brand and if it truly sets you apart from competitive options.

Delivering Happiness by Tony Hseih
https://www.amazon.com/Delivering-Happiness-Tony-Hsieh-audiobook/dp/B003QADCNS/ref=sr_1_1?crid=2DIUTA2VVW27F&keywords=delivering+happiness&qid=1706739719&sprefix=delviering+happ%2Caps%2C627&sr=8-1

The Simple Truths of Service by Ken Blanchard
https://www.amazon.com/Simple-Truths-Service-Inspired-Johnny/dp/1492675458/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=1706739778&sr=1-1

Contact me for more information on the Aesthetic Business Mastermind

Contact me: brian@thehunterorion.com

Connect with me on Linkedin: https://www.linkedin.com/in/brian-hayes-orion/

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Podcast Website: https://thepracticeofbusiness.buzzsprout.com