independent pharmacy Archives

Why does an independent pharmacy need a marketing plan?

April 4, 2024January 12, 2016 by Megan Moyer

A pharmacy that has a customer orientation takes marketing seriously. It doesn’t rely on haphazard, seat-of-the-pants decision making about such things as inventory, pricing, merchandising, advertising, hours of service, store appearance, and employee training. Instead everything it does is strategic. This strategy is called your marketing plan.

Your marketing plan coordinates all of these activities and bases them on a well-defined purpose which shapes your business objectives. An effective marketing plan is a roadmap for success. It can increase productivity and profitability for your business. The benefits of a marketing plan are many and include:

Don’t lose an embarrassed customer

April 4, 2024January 7, 2016 by Megan Moyer

by Jen Johnston

You say “Hello” to a young female customer walking in the store. She says “Hi” softly, avoids eye contact, and heads over to your OTC area. You don’t know it yet, but this young lady is in the store to pick up a product for a condition she deems embarrassing – a yeast infection. But when she gets to the feminine care section, she stands there looking a little bewildered.

Put yourself in her shoes for a moment. This could be her first infection of this kind. As she approaches your set, she sees one-, three- and seven-day treatments from multiple brands. They each serve a different purpose and their availability on your shelf is necessary, but she has no idea the differences between these SKUs.

“Customers are never an interruption.” Yeah, right.

April 4, 2024December 29, 2015 by Megan Moyer

by Jen Johnston

“Customers are never an interruption.” What do you think about that phrase? I think it is a big, fat lie. Of course customers are an interruption! As a pharmacist, you are doing a million different things, and when a patient suddenly interjects his- or herself into your rhythm, that is just plain disruptive. Your store staff likely feels the same way when they are busy stocking shelves or cleaning the store.

However, customers should never feel like they are an interruption. After all, they are the reason your pharmacy exists. The following is an exercise you can do with your staff to help them remember how to handle interruptions gracefully.

Know your market segments

April 4, 2024November 23, 2015 by Megan Moyer

by Jen Johnston Do you know your market segments? When we say “market segment,” we are referring to a distinct group of people, or customers, who have certain wants and needs. To meet their wants and needs, they are willing to exchange their hard-earned money for products and services. If your products and services match … Read more

45. Watch your traffic patterns

April 4, 2024November 19, 2015 by Megan Moyer

Do You Have a Mission Statement?

April 4, 2024November 12, 2015 by Megan Moyer

by Jen Johnston

A mission statement is not “fluff.” This essential statement is what gives meaning and direction to any business. It answers the questions, “What business am I in and why?” and “Who are my customers?” The mission statement helps clarify whether your business is service-oriented, product-oriented, or both. It brings into focus just whom you are serving and why.

You might think this is a waste of time, since you know you are in the pharmacy business. But consider this – if you are only in the business to fill prescriptions, you may be headed for trouble. If you view your mission as broader, your approach to marketing may be drastically different.

23. Stock new items – the right ones

April 4, 2024November 12, 2015 by Megan Moyer

by Colleen Volheim for our 99 Ways to Make a Positive Difference in Your Pharmacy series New items are critical to growing your business. Regularly adding new-to-market products to your assortment keeps your inventory and selection fresh, and gives customers the impression that you are a progressive store that keeps up with trends. When you’re … Read more

27. Price wisely against competition

April 4, 2024November 5, 2015 by Megan Moyer

by Donna Boulieu for our 99 Ways to Make a Positive Difference in Your Pharmacy series

Pricing wisely doesn’t mean pricing the lowest (which could equate to pricing yourself right out of business). A balance of lower margin competitively priced items, and higher margin less sensitive items is a strategy that can satisfy your customers and your bottom line. Even if you’re using a pricing program, an occasional review of what’s going on in your market area can help ensure you’re still on track. Before you venture out on your market review, prepare by thinking about and/or defining the following:

Develop a Customer Orientation

April 4, 2024October 28, 2015 by Megan Moyer

by Jen Johnston

No matter how hard you try, you cannot mold your customers to fit your business. Don’t give them what you *think* they want, or what *you* think is “best for them.” You must find out what they want and adjust your business accordingly. This is called having a “customer orientation.”

It’s easy to think to yourself, “Well, they just don’t know what they need” or “they think they need that, but they don’t.” Are you sure you aren’t only thinking about what you and your pharmacy need or want? The business that is customer-oriented shifts its thinking away from what it needs and wants to what the customer need or wants…or is willing to buy. Why stock it if they aren’t buying it?

19. Develop a customer loyalty program

April 4, 2024October 26, 2015 by Megan Moyer

by Colleen Volheim for our 99 Ways to Make a Positive Difference in Your Pharmacy series

You have a variety of shoppers. You definitely want to keep them all coming back, and a loyalty program will help you do just that. To begin, you need to know who is shopping your store. Information you capture about your customers will help you develop a more meaningful loyalty program. Knowing customer shopping habits and preferences will help you develop rewards that they will value. You don’t want to provide a coupon or special promotion on something they would have no interest in. Sure, you may have school supplies left over, but you don’t want to necessarily use them as a customer reward just to get rid of them when you have a large percentage of customers that have no need for such items.