How to Drive Additional Revenue for Every Waxing Client
Posted by AZ on May 31st 2022
Imagine earning 30-50% more from your current clients without the hassle of finding new ones. Sounds good, right? We want to let you in on a little secret: it's all about boosting your Average Order Value (AOV).
WHAT IS AVERAGE ORDER VALUE (AOV)?
AOV is just a fancy term for figuring out how much money you make from each appointment on average. It helps you understand a slice of your business in a really straightforward way. Think of it like this: if you count how much money you’ve made and divide it by the number of appointments, that’s your AOV.
HOW TO CALCULATE YOUR AVERAGE ORDER VALUE(AOV)?
To calculate your AOV, you just need to know two things:
- How many services you’ve performed over a specific period of time.
- The total money you’ve brought in during that time.
For example, if last month you had:
- 84 appointments
- $4,620 in total earnings
Here’s how you do the math:
$4,620 (total) ÷ 84 (appointments) = $55 AOV
WHY AOV CAN CHANGE YOUR EARNINGS
Your school might not have covered this, so we’ve got your back. Imagine you encourage half your clients to add on an extra $30 service or product.
42 Clients * $30 Upsell = $1,260
That’s a 27% bump in money from the same number of clients!
BOOST YOUR AOV EASILY
Want to know how to make that AOV number climb? Here are some proven tips:
- RECOMMENDED PRODUCTS: Retailing a product that you believe in is the #1 way that you can increase your AOV. Products like ingrown spot treatments (for treatment), ingrown serums(for prevention), body scrubs, body balms, and body lotions are all fantastic options for you to recommend to clients at the end of a service. Make sure that you trust their quality, because clients easily sense when you don't believe in your products. Educate them on how they work and when to use them. Check out Honeycomb's options here!
- ADD-ON SERVICES: If a client comes in for a lip wax, it's an excellent opportunity to offer a chin, nose, ear, or eyebrow wax. Take your normal price and cut it in half or take 25% off for them upgrading while they are there. It means you don't have to find another client to make the income with.
- CROSS-SELL: Cross-sell by offering services that won't impact each other, but still offer a great opportunity to generate income and save the client time. One example would be offering a hydrating facial alongside the lip wax at a large discount as well. This may add 15-20 minutes to the service, but you will generate that extra $30 we are aiming for.
- NOTE: Just remember, don't overdo it. Try and aim for the $30-$50 mark, depending on the demographic and service area.
These are just some quick options to add on to any service but can result in a larger bill at check out.
INCREASING AOV THROUGH BUNDLING
Another opportunity to increase your average order value in your spa or studio is through bundling. Take your two most popular services and one of your most popular products, bundle them together, and give a discount.
There will often be opportunities as you are chatting with incoming clients to ask a question or two, then offer a related bundle. For example, offer a full leg, combined with a bikini, underarm, and an ingrown treatment.
The value of this may be $170, but it makes sense to offer all of them together at $125. Offer it and see if the client expresses interest. This makes sense because you have upsold the client from $80 for the full leg to all three for an additional $45.
CONCLUSION
We really hope this helps you dive into what your sales are and how you can easily increase your average order value. In summary, retail, upselling, and bundling are three different ways that you can leverage sales techniques within your spa or studio to drive additional revenue on every service! If you are looking for some products to retail check out some of our top-selling retail products.