Profiting in the Male Aesthetic Market
- Posted on: Jul 19 2016
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According to market data men are the fast growing segment of the aesthetic industry and are specifically interested in non-invasive treatments such as injectables. The men’s market has grown from 20% to 30%. The male aesthetic market is in its infancy. In 2013, over one million procedures were performed on men, representing only a fraction of the market. Men offer aesthetic physicians the opportunity to capture an uncontested market space.
While men still represent only a small portion of the medical aesthetic market, they are increasingly becoming more cosmetically inclined. Researchers at HSBC have declared that the future of retail is in young, urban males—or as HSBC dubs them, “Yummies.” Affluent, trend-conscious gentlemen already account for 40 percent of luxury fashion sales, growing 14 percent in 2011 compared to eight percent growth in women’s. Men are also shopping more frequently and spend twice as much as men of previous generations. The men’s skincare market has also experienced double-digit growth with some analysts predicting a tripling in the size of the market in four years. Maintaining a well-groomed appearance now defines what it is to be ‘a man’ in today’s society. It is only a matter of time before young, affluent, fashionable men seek cosmetic procedures. As millennial “YUMMY” men age, the demand for cosmetic procedures in men will only increase. Also, there are great retention benefits to capturing the male market. As a group men have a higher retention rate than females. Once they find a provider of a service or product that they are satisfied with they will become instant repeat customers that do not shop around.
Despite the great potential many doctors are struggling to successfully tap into the growing demand of male aesthetic services. Marketing to the male segment involves executing a global campaign that targets men that makes men a priority.
Historically, men have been a challenging group to tackle due obstacles such as the poor health behavior that is commonly seen among men. They tend to avoid doctors and addressing issues that bother them in comparison to women. Your first male patients are most likely the fathers, sons, brothers, boyfriends and husbands of your current female patients. However, you want to corner the male market as a whole and not just catch the ones who are recommended by a woman in their life that happens to be your patient.
To grab men’s interest you must re-examine your website, brochure, video’s, social media posts and all marketing materials. Ensure your marketing materials are communicating the message that you cater to the specific needs of men. Your staff should be well trained and educated to be able to speak about male treatments confidently. Endorsing male aesthetic treatments must be an encompassing strategy. A relaxed marketing approach to men will guarantee failure. It is pivotal that you go after the male market directly with targeting gender advertising. Men need to know that you have tailored treatments to address their aesthetic concerns.
Authored By Cheryl Whitman