Certification Exam- Boomerang Book MBA

The Aesthetic Market Place is comprised of?

Baby Boomers mainly
Millenials mainly
Boomers and Millennials combined
Parents of Boomers mainly

The estimated Combined Size of the Aesthetic Market in America is?

80 million
100 million
160 million
200 million

The Most common Superior Retail Value Proposition (SRVP) in Private Pay Health care is?

Discounter retail
Big Box Retail
Luxury Brand Retail
Hybrid retail

Your Mission Statement?

Defines who you will serve and how you will serve them
Short statement: one sentence of paragraph
Is customer facing
All of the above

Your Vision Statement?

Is a short version of your business plan and is 1-2 pages long
Is externally facing business vision and goals
Never states your income goals
Is internally facing and encapsulates your business vision

The Location of your Physical Space?

Rarely affect customer purchasing
Can be a VERY important part of your marketing strategy
Should not use back lite signage
Should avoid competing high end retail locations

What best describes your brand?

Logo
Color palette and décor
SRVP
A Customers Emotional respond to a, b and c

What Best describes Your Digital Place?

Have a website that is different in look and feel to your physical place
Is designed for Lead conversion
Should not have more than one social media channel media
Should not have video or before and after’s is you are permitted

The Waiting Room in your PLACE should have?

Validation and credentialing messaging
Cross marketing message
Testimonials
All of the Above

The most important single thing in creating a successful business is?

The right Plan
The right Place
The right product
The right people

What best describes The Corporate Culture or your Business?

How employees treat each other
How employees are bonused
The set of beliefs and behaviors you need for success
How your manager treats staff

The most common successful Corporate Culture in our space is?

Sales orient
Client service oriented
Command and Control
Accountability driven

The Defined Culture versus the Actual culture is most determined by?

What the leader does
What the leader says
What the manager does
What the manager says

It is best to hire client facing staff for?

A big brain
Excellent skills
A good “people personality
A lot of experience

Which is most accurate: “A product is”?

A procedure you delegate
A procedure you deliver yourself
A skin care product
An Injectable
An energy-based device
All of the above

In the early 1990’s the following were true except?

Collagen was the dominant dermal filler in the US
Most lasers had significant downtime
Non-surgical treatments were far more common than surgical
Little was known about Botox by the general public

The early explosion of the non-invasive cosmetic medical market in the USA in early 2000 resulted from all but?

New entrance of laser manufacturers
The Millennial generation embracing the market
Public awareness about Botox
Baby Boomers starting to turn 50 years old in large numbers
Cultural obsession with youth and vanity
Approval of Restylane in the USA

Which of the following is not true?

The noninvasive procedure space has grown at least 1400% over the past two decades
In 1997, there were 1 million excisional plastic surgery procedures and 1.1 million non-excisional treatments
By 2022, noninvasive plastic surgery controlled 60% of the market
Excisional plastic surgery is now less than 1:5 procedures

Convergence contributed to the rapid growth of Cosmetic enhancement as a result of all but?

Baby boomers getting older
Manufacturers making devices, injectables and skin care to serve the market
Government regulation getting stricter on approvals
Make over reality shows
Oprah Winfrey
Emergence of Millennials
Social Media

An extender, or delegated act services provider provides the following except?

Allows you to scale your business
Allows you to differentiate price points
Puts you at an unnecessary risk of litigation
Can add value to sale at the time of succession planning

The Best way to decide prices for your services and products include all but?

Most importantly on what you pay vendors for products
How much you want to make per hour
How much you want to net per hour
A competitor pricing matrix
What is your Superior Retail Value Proposition (SRVP)

The most common SRVP’s include except?

Luxury Brand
Discounter
Consumer Social Media focus
Hybrid Good service affordability
Big Box

Which is the most accurate: For High price Luxury Brand Business Models can be very successful because?

10% of consumers are only attracted to the highest priced brands
These consumers tend to be recession proof
Margins are high
All of the above

Which answer is least accurate: Dropping your Prices is often not a solution to cash flow problems and insufficient sales because?

Price is usually not the issue
Conversion stage cascade is weak
Consumers are not loyal to low price practices
Lower prices correct the consumers expectations from the practice

The least important element of patient conversion is?

The quality of your awareness campaign
How well in-bound phone calls, texts and emails are managed
An excellent consult process
Aggressive follow up of unclosed leads, consults and treatments
The Brand of toxin or filler you use

A Practice Funnel is?

A schematic graphic illustration and representation of patient flow and conversion in your practice
Used to measure conversion success
Sorts out patients by gender and procedure
Becomes more cylindrical with the CRO success

The 6 conversion stages of a Practice Funnel include all but?

Awareness to Lead
Lead to Consult
Consult to Treatment
Treatment to RE-Treatment
Treatment to Staff Interaction
Treatment to Other services
Treatment to Ambassadorship

CRO, or Conversion Rate Optimization includes all but?

Answering incoming leads
Delivering online and in person consults
Following up unclosed leads and consults
Having the best website in your local search market
Having a formal software driven post treatment retention program

Which is NOT true about well executed Digital Paid Search Awareness Campaigns?

Leads respond to a strong, congruent USP
Leads respond to strong call to action
Leads spend more time researching their provider in person than on-line
Leads like before and after photo galleries, video
Most Leads will check out rating sites and social channels to make purchasing decisions

The following are common USP’s deployed in well executed Paid Search Campaigns except?

You are the “BEST”
You are the “MOST EXPERIENCED”
You have the “NEWEST” technology/products
You highest organic SERP “ONLINE” presence
You are the “BIGGEST”
You are the most “AFFORDABLE”

All of the following indicate that an IMPRESSION have become an actual LEAD except?

When they make a phone call to your center
When they consider buying
When they email a form from you landing page
When then submit a text message
When they submit a rewards and loyalty APP request

An assigned Lead Coordinator is best described?

One of the least important back-office jobs
Is assigned to convert consults to treatments
Focuses only on closing phone calls
Is responsible for converting phone calls, email forms, text messages, APP responses and other interested contacts to Consults.

Lead Generation contact with your clinic will?

Be mostly phone calls
Be after hours and on weeks
Will be text and app responses from mainly millennials
Need to be responded to within 48 hours

Drip Marketing?

Involves frequent phone calls
Converts at 8-10% higher rates
Involves outbound text, email or phone at a regular cadence
Does not work in the private pay medical space

The modern patient when coming for consultation generally?

At the beginning of their research
Does not check out social media or rating sites till after the consult
Does not expect to go right to treatment at the time of a non-surgical consult
Has spent hours online researching and iss generally showing up to book and do treatment

A Good Lead Conversion rate is?

0.25
0.5
70% or Better
None of the Above

A screening consult coordinator?

Is best for startup practices
Should not be free or no charge
Is not accepted by patients who only want to see a doctor
Can increase the practitioners consult closure rate significantly

Virtual Consults can be?

A good screening tool
Can be more efficient than live consults
Very popular with most patients
Confidential
All of the Above

Having consult fee can?

Increase the number of leads who convert to consult
Reduce the no show rate to 8-10%
Attract more tire “kickers” and “window shoppers”
Is ideal for practices just starting out

The 8 Steps to a successful consult include the following except?

Make them your friend
Uncover Goals and Expectations early
Manage expectations to realistic outcomes
Reassure you have a treatment solution
Be a top-down salesperson and position the best combination of services
Deploy Future pacing and buyer’s remorse near the end
You should Say NO a lot
Use a closer to discuss money with high ASP services
Always interview family and/or friends

The Following personality disorders (not traits) represents 10-15% of all plastic surgery and cosmetic enhancement patients?

Obsessive Compulsive Disorder (OCD)
Body Dysmorphic Disorder (BDD)
Schizotypal Affective Disorder
Borderline Personality Disorder
Antisocial Disorder
Cyclothymic disorder

A good consult closure rate is considered to be?

0.1
0.25
0.5
0.7

Bundling Services in Combination can?

Increase the Average Selling Price
Reduce the risk of commodification
Create a “better wow” with the patient
Result in higher retention
All of the above

All of the following techniques typically reduce treatment pain and anxiety except?

Pre procedure education
Topical anesthesia
Collecting funds and fees up front
Nitrous oxide
Local anesthesia

Getting patients back for re-treatment maintenance treatments?

Rarely occurs
Should be 25% of your monthly income
Is not part of the drip and nurture marketing program
Should occur with 70-80% of patients in well run practices

Upselling to other services (cross merchandising)?

Is unprofessional and should not be done
Is a proven and successful retail tactic
Does not work with medical services
Disconnects patients from your brand
None of the above

It is more cost effective to?

Generate top of funnel paid search leads
Spend most of your marketing dollar on SEO
Market to your existing database
Pay for low cost paid social leads

Using practice management software can?

Allow you to optimize conversion
Mine your database
Optimize practice profits
Offer rewards APP
None of the above
All of the above

Reputation Management is?

Not as important as it used to be
Is driven mainly by bad treatment outcomes
Does no influence new patient buying behavior
Requires a formal ongoing program using your happy patients to post
None of the above

Practice Key Performance Indictors of KPI’s ?

Are separate from a PMS System
Are vital to the parameters you use to treat your patients
Are critical measurements in your practice that help you manage your Profit and Loss proforma
Are important for your accountant to file your taxes

Your Practice summary of Mangers Dashboard my include?

Actual Sales
Projected Sales
Sales Gap
Revenue Recognition Time
Scheduling GAPS
Stage Specific unconverted Lists
Cross Marketing and Ambassador opportunities
All of the above
None of the above

Projected Sales include all but?

Conversion rates
ASP
Time Interval
Patient Gender

Revenue Recognition time is?

When you must pay tax on patient money spent
When optimal interest rates accrue
The time between at conversion stage and when money is spent
The time after which patient refunds will not be issued

Uncovered Reports is best described by?

Track the clinical outcome of treatments
Are a part of your monthly financials
Report those leads, consults and treatments that have not moved on the next stage of engagement in your practice funnel
None of the above

Drip Marketing is best described by?

Describes strategic e-blasts and texts at an established cadence that is proven to improve stage conversion
Describes cost effective and intermittent paid search
Refers to the size of the eblast or text message
None of the above

Retention Reports are best described by?

Describe how much money is in your bank account at the end of the month
Describe how happy your employees are in any given period
Describe how many patients, who had treatment come back for maintenance treatment of the same procedure, service, or product
All of the above
None of the above

Promotion is best described by?

Is something you do when you first open to get busy
Does not include digital marketing
Is still dominated by tradition print and broadcast
Does not include organic search engine optimization
All of the above
None of the above

The following statement about Finding new leads is correct except?

Has never been more expensive
New leads have never been more prequalified
By the time they book a consult, they are ready to purchase
No long relies on “word of mouth”

The following are true about Promotion and the acquisition of New Leads except?

Has become easier with Digital media
Allows younger and new start up practices to compete with established practices
Lead Generation been democratized
Paid search is less effective and more expensive than Search Engine Optimization
TV and Radio is less important in Lead Gen than in the pre-internet era
Newspaper and Magazines are less relevant to millennials

Promotion is best defined as?

Print, broadcast and search engine marketing
Search engine marketing and database marketing
The sum of all activities a practice does to get into the hand of consumer the Products and services they offer
An activity reserved for young and start up physicians

Traditional Promotion often included?

Internal database marketing
Client events
B2B events
Public Relations consultant
Newspaper and Magazine adds
Television and Radio adds
Billboards
None of the above
All of the above

Even in the Digital era, which of the following promotion and marketing tactics will still likely be a part of your marketing program?

Newspaper ads
Yellow pages and directories
Messaging on-hold for the phone leads
Radio ads
Television ads
Magazine ads
None or the above

Digital Media and Marketing includes all but one?

SEO
Organic Social Media
Digital Database Management
Cloud based data storage and backup
Paid Search

Digital promotion is essential in today’s market because?

Most modern aesthetic consumers now connect with retail options online
Millennials and Gen Z make up a huge new market for aesthetic services
Young people rarely use traditional print and broadcast to purchase
Most Baby Boomers have now switched to Digital from Traditional advertising consumption
All of the above

All of the following can be said of Digital Database marketing and management except?

Includes drip marketing to existing funnel stages
Is not yet accepted by consumers as a retail tool
Can increase stage conversion by 25% or more
Keeps you practice top of mind with post stage eblast and text messages

SEO can be defined as?

Making your website look good when compared to competitors
Ensuring your brand resonates on the website and matches your physical space
Tactics and strategies to ensure you website comes up as high as possible on a key word SERP
Is inexpensive and is a far better option than paid search

What can be used to describe SEO includes?

High quality on page content
Back Linking
Blogging
Interlinking
Meta Tags
Page opening speed
Mobile first
All of the above

What can be describe SEO?

Gets most of the SERP leads for a key word query
Can be very expensive
Can take a long time to pay off
Can take a very long time to get to first page on SERP
Can take a very long time to get to #1
#1 organic ranking on SERP get 45% or more of the leads
All of the above
None of the above

SEO___

Has the best ROI (return on investment) of any Marketing tactic
Is an expensive marathon that never ends
Exceeds #1 PPC once you become bottom of first page organic on a key word SERP
Is far superior to PPC
Will automatically result in organic social success
Should only be considered with paid social in combination as the two are connected

SEO tactics and strategies require a long time to achieve high page ranking for key words because of the following except one?

There is a lot of competition
Google has precise algorithms that may affect your ranking
Can be circumvented without risk through Black Hat SEO strategies to speed up the process of becoming ranked
Google wants to present the searcher with the most relevant provider
Google more focused on the searcher and the relevance of the SERP than the advertiser on the SERP

Paid Search includes all of the following but one?

Google AdWords (PPC)
Paid Social (Facebook, Instagram and others
Involves paying for a digital advertisement to be presented to a potential online client usually at the top and bottom of SERP
Has made lead generation much easier for startup practices
Is much more expensive than SEO for startup practices

Paid Search or Pay Per click is dominated by

Google
Bing
Yahoo
None of the Above

Paid Search has the following benefits?

Immediate results
Cost effective and affordable CPL
Can be turned on /off or adjusted quickly
Is a short sprint, whereas SEO is a never ending marathon
Is a cost effective way to generate short term leads, consults, sales and revenue for any practice with a short-term revenue gap
All of the above

A Google Adwords program?

Is an automated auction by google that uses AI
Is easy to learn and run effectively without a paid search consultant
Is less effective because as it can be local and targeted paid search
Provides very few metrics or feedback to stay secretive
Does not allow you to do AB testing

The following are true of PPC paid search except?

Paid search ads in front of highly selected potential purchasers
Allows new practices to be top of SERP pages
Can generate 10% or more of all leads from a key word query and SERP
Does not rely on being first page on organic SERP to be successful
Results in less qualified leads than SEO
Is successful lead gen tool for even the most experienced practices
Provides CPL’s (cost per lead) that can be r less than $100

Social Media can be defined as Digital platforms and applications that enable users to?

Create Content
Share Content
Rate Content
Communicate with each other
Participate in Social Networking
All of the Above

Most Social Medica channels have some of these common features except?

Posting
Liking
Following
Subscribing
Do not allow advertising
Hashtags
Commenting

All of the following can be said of social media except?

4 billion people in the world are thought to be on social media
People making buying decisions and shop on social media
People read and trust reviews on social media
People share video and photos on social media
People rate services and companies on social media
People date on social media
Social media is still a novelty and not a good place to advertise

Each of the following would be classified as social media except?

Social Networks (eg. Facebook, Twitter)
Medical Sharing Sites (eg. Instagram, Youtube)
Paid Finance processing portals (eg. Amazon, Shopify)
Social Review sites (eg. Yelp)
Discussions Sites (eg. Readit, RealSelf)

Mobile devices are?

Desktops are used more in Paid search than mobile
Mobile devices do not allow paid social
Mobile devices have separate Pay per click google strategies
Social medica channels are far more commonly used on desktop vs mobile

What best describes Propagation?

Science of increasing engagement from existing clients
Designed to increase sales from the existing database
Attempts to change the Practice Funnel to the Practice to a practice cylinder
Can result in 40% or more of your income coming from existing clients
All of the above
None of the above

All the following can describe propagation strategy in your business except?

Focuses on primarily on converting Leads to consults
Uses drip and nurture marketing
Tries to get more clients back for repeat maintenance treatments
Promotes cross merchandising
Incorporate strategies for Ambassadorship
If focused on middle to bottom of funnel conversion activities
None of the above
All of the above

The Practice Funnel includes all but?

Is usually cone shaped
With good retention conversion can be broadened at the bottom
Is visual tool to describe patient flow through a practice
Propagation science works best after the treatment phase
Bottom of funnel propagation improves profitability and may reduce the need for new leads
None of the above
All of the above

Top of the practice Funnel refers to all except?

Generation of new leads
Conversion of leads to consults
Propagation of re-treatments
Incorporates a lead management system
Involves paid search and organic search lead generation

Drip Marketing is a component of Propagation science and refers to?

Combination strategies to increase the Average selling price
Spending more on social media than google
A science of written messaging released at a defined cadence designed to increase stage conversion
Results in increased attrition at each stage of the practice funnel
Is very expensive form of marketing and is suited to only the practices with the most money
Does not help with Propagation science

A Business Plan is best described as?

Is a written document that documents and memorializes the business
Is drafted by the bank to determine you credit worthiness
Is drafted by advisors for the physician
Is not necessary after a successful first year in business

Your Business Plan should be?

A document that is set in stone and rarely changes
Reviewed frequently but never altered
Reviewed infrequently
Reviewed regularly and adjusted if needed according to marketing realities

The Unique Selling Proposition in your Business Plan?

Reflects only your pricing matrix
Is the portion of the Business Plan you promote to bankers
Are the practice features you position to the customer after they have had their consult?
Are the practice feature(s) that attracts clients and can include experience, skills, newest, busiest, cheapest, most reputable amongst others
None of the above

A P/L refers to?

Physician Licensing
Portfolio Leasing
Profit and Loss Statement
None of the Above

Cash Flow refers to?

The topline sales
The Bottom Line Profit
A Balance Sheet Item
The money you have left over from sales after expenses
Your Bank Balance

Start Up Business Plans?

Cannot be used for financing
Are critical for stating Goals, tactics and strategies for success
Use historical financials to create a P/L proforma
Need to be completely re-written every year after year one

A SWOT is?

A Human Resources Disciplinary tool
Only works in small markets
Is an analysis of the strengths, weakness, opportunities’ and treat of a practice
Should not include mystery shopping
Should not be part of a business plan
All of the Above
None of the Above

Financial Projections include?

P/L
Sales of services and products
Fixed and Variable Expenses
Projected Sales
All of the Above

A good manager should be able to do all except?

Extract the most out of employees
Be able to read and manage a P/L
Fire bad employees
Grow the business 10% per year
Always be the best leader of the business

Financing Options include?

Capital Leasing
Bank Loan
Operational Leasing
Line of Credit
All of the Above
None of the Above

A Capital Leasing for your energy base devices include except?

Off balance sheet financing
Can reduce taxable liability
Records the equipment as an asset and liability
Allows the full capital deduction in the first year
Qualifies for the IRS Tax code 179
Often have a 1$ buyout at the end of the term

Operational Leases have the following features except?

Expensed on your books as a liability
Allow full monthly expenses deduction for the length of the term
Are On Balance Sheet financing
Have a buyout flexibility at the end of the term

Guerilla Business Plans?

Refers to the marketing Budget
Are only good of one month or short campaigns
Are most common for new practices
Are Micro Business plans for established practices
All of the above
None of the above

A Revenue Gap is?

A Key performance indicator
Identifies when Projected sales will be less than Target Sales
Triggers “Finding the money activities” in the practice funnel
May trigger top of funnel lead generation
All of the above

RRT or Revenue Recognition Time is?

Identifies when a client credit card clears
Is the time between stage activation and payment being received
Does not play a role is closing revenue gaps
Is the time it takes to perform a procedure
Is the time it takes for business tax returns
None of the above
All of the above

Sales Gaps can?

Activate top of funnel paid search
Activate middle or bottom of funnel revenue activities
Is a Key Performance indicator
Should trigger a Scheduling Gap analysis
Will often trigger an RRT analysis
Need to be closed with “Find the Money” Activities
Identify potential Cash Flow concerns
All of the Above
None of the Above

Paid Search is a critical part of most business plans because?

Organic search is so cheap
Paid search is less expensive, but the leads are not well qualified
It has never been less expensive to purchase low cost, well qualified leads
Paid search is not geo-targeted
Includes only google ad words and not paid social
All of the above
None of the above

The Author of the Business Plan should?

Be your accountant
Be your tax advisor
Be your banker
Be your medical team
Be you and your manager

In constructing a forward-looking P/L?

Requires building a list of procedures
Estimating the number of those procedures that are required to be performed
Factoring in the List price of each procedure
Knowing the COGS for each procedure
Knowing the Fixed and variable expenses of your business
All of the above

P/L for new start up’s?

Can use historical financial
May use industry averages to establish Sales and Expenses
Is usually very accurate
Is not dependent upon assumptions
None of the above

A Proforma P/L for existing Practices?

Use historical financial information like the prior year’s income statement
Build in know conversion rates and ASP’s
Assumes 5-10% growth in the topline for low proforma estimates
Used expense ratios from historical financials to burden the future cost of growth
All of the above
None of the above

Managing a P/L involves everything but?

Growing the topline
Managing the expenses and controlling expense creep
Doing regular expense audits
Looking for Revenue GAPS
Looking for Scheduling GAPS
Working the top of funnel revenue opportunities for long RRT GAPS
Working the middle and bottom of funnel opportunities for short RRT GAPS
None of the above
ALL of the above

Revenue GAP?

Is when staff take a holiday
Occurs when Actual sales exceed projected sales
Can only be calculated if you know your target sales, actual and projected sales
None of the above

The practice RRT is?

Is the Reaction Rate for Thermal technologies
Is the Retention Rate over time
Is the Revenue Recognition Time
None of the above

The RRT is important because?

It forces the practice manager to consider which Practice Funnell opportunities to use to fill the revenue and scheduling gaps
Helps define top and bottom of funnel lead generation activities
Targets the lead generation activity on the “turnaround time” of the procedure
All of the Above

Scheduling GAP’s?

Refers to technician or technology treatment blocks that are un-booked
Refers to breaks for staff between treatments
Refers to times between treatments that are schedule for room turnaround
All of the above
None of the Above

Digital Marketing?

Allows modern, cost-effective database marketing
Allows target marketing to unclosed status for leads, consults and treatments
Can often be done through an APP
Can target market selected segments of your database
Has proven to be effective at increasing sales
All of the above
None of the above

Middle and Bottom of Funnel Revenue GAP activities?

Focus on Paid search on PPC
Focus on Paid social
Focus on unclosed consults and unclosed re-treatments
None of the above

CRO is best described by?

Involves Drip Marketing
Involves phone calls
Involves Eblasts
Involves Text messaging
Increases conversion rates
Only one of the above
None of the Above
All of the Above

Top of Funnel Revenue GAP activity?

Uses Paid Search
Uses CRO on unclosed consults and re-treatments
Involve rewards points for spent by existing patients
All of the above

PPC or Paid Search Calculations involve all but one of the following?

Knowing the Revenue GAP
Understanding lead and consult conversion
Knowing the gender specific procedure mix
Knowing your Cost per Lead
Knowing your procedural ASP

Staying ahead of Cash Flow?

Describes the process of weekly bank deposits
Requires a low ASP
Is not important in Luxury Brand Business models
Requires that sales exceed fixed and variable expenses
None of the above

Expense Creep is?

Is rare but should be monitored
The slow rise in revenue over expense ratio
Is the slow, small, incremental rise in fixed and variable expenses over time
Affect physician services mostly but not nursing or delegate professionals
None of the above

Managing Expense Creep?

Involves frequent monitoring
Analyzes and evaluates all expense line items
Attempts to reduce expenses monthly or quarterly by 1% or more
Is an important part of enhancing net profitability
All of the above
None of the Above

Marketing and Managing a High-Performance Aesthetic Practice

Certification Exam- Boomerang Book MBA

Certification Exam- Boomerang Book MBA

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