The lowest-hanging fruit to grow your pharmacy profitably is to increase per-patient spending.
The lowest-hanging fruit to grow your pharmacy profitably is to increase per-patient spending from your current customer base.
Running a profitable pharmacy requires more than just providing the right medications and healthcare products. It’s essential to maximize every patient’s spending to thrive in today’s competitive market.
Internal marketing is a powerful strategy that can have a significant impact on your pharmacy’s profitability. Let’s explore how the right tools can effectively boost per-patient spending in your pharmacy.
Pillar 1: Bag Stuffers
Bag stuffers are a subtle yet effective way to entice patients to make additional purchases during their visit to your pharmacy. These small, informational flyers or coupons are attached to the bag, attracting patients with special offers, discounts, or promotions. Here are some ideas for your pharmacy’s bag stuffers:
1. Promote Complementary Products
Enhance patient value by suggesting products that complement their purchase. For instance, if a patient buys a pain reliever, you can include a stuffer showcasing heating pads, muscle creams, or CBD, making their pain relief more comprehensive and addressing potential related needs.
2. High-Value Programs, Products, or Services
Increase patient retention by using bag stuffers to actively promote your pharmacy’s best products. Whether it’s a prescription, OTC, or a service, increase your patients’ satisfaction and your pharmacy profits by selling more top-tier items.
3. Seasonal Promotions
Keep your marketing timely and relevant by tailoring bag stuffers to the season or upcoming holidays. For instance, during allergy season, advertise discounts on allergy medications and related products to meet patients’ immediate needs, making your pharmacy a go-to destination for seasonal health supplies.
4. Educate and Inform
Utilize bag stuffers as a platform for health education. Share valuable tips and information on managing common health issues, demonstrating your pharmacy’s expertise. Additionally, highlight your pharmacy’s specific services and offerings that can assist patients in addressing their health concerns effectively.
By strategically using bag stuffers, you can not only increase per-patient spending but also provide valuable information to your customers, enhancing their overall experience.
Pillar 2: Email Marketing
Email marketing remains a potent strategy for boosting per-patient spending. It allows you to engage with your patients on a personal level, keep them informed about promotions and new products, and encourage repeat business. Here are some strategies for effective email marketing:
1. Segment Your List
Optimize your email marketing by organizing your recipient list into groups based on their purchase history or preferences. Segmenting your patient list this way allows you to send targeted promotions and product recommendations that are more likely to resonate with each specific group of patients.
2. Personalize Content
Enhance patient engagement by addressing recipients by their first name and tailoring your email content to their individual preferences and past purchases. Personalization creates a more personalized and meaningful connection with each patient.
3. Create a Sense of Urgency
Drive immediate action and boost sales by incorporating limited-time offers and flash sales into your emails. These time-sensitive promotions can incentivize patients to make a purchase sooner rather than later.
4. Educate and Inform
Establish your pharmacy as a trusted source of healthcare knowledge by sharing valuable health tips, wellness advice, or information about new medications. Providing informative content not only builds trust but also positions your pharmacy as a reliable resource for healthcare-related information.
5. Customer Testimonials
Build credibility and trust with potential patients by including real-life success stories and testimonials from satisfied customers who have benefited from your products and services. These testimonials serve as social proof of your pharmacy’s quality and effectiveness.
6. Feedback and Surveys
Create a patient-centric approach by actively seeking feedback and conducting surveys. Feedback helps you gain insights into patient needs and preferences, allowing you to tailor your offerings and services to better meet their expectations and improve overall customer satisfaction.
Email marketing is a cost-effective way to cultivate patient relationships, drive sales, and increase patient spending. For Pharmacy Badass University members, we have already created many emails you can use as a foundation for your email marketing to your patients. Just search for marketing kits inside the membership.
Pillar 3: In-Store Posters
In-store posters are a visual way to capture your patient’s attention and direct their buying decisions. When strategically placed, these posters can guide your pharmacy patients to specific products and promotions. Consider these tactics:
1. Strategic Placement
Boost the effectiveness of your posters by strategically placing them in high-traffic areas or alongside relevant product displays. Well-placed displays make it so more patients see and engage with your messaging, increasing the chances of driving sales or promoting your offerings effectively.
2. Eye-Catching Design
Capture attention with visually appealing posters that not only look attractive but also effectively communicate your message. Employ engaging colors, fonts, and graphics that align with your brand and product identity, making it more likely for patients to stop and take notice.
3. Educational Content
Use posters as a platform to educate patients about the value and benefits of specific products or services. For instance, you can inform them about the importance of flu shots in preventing illness or the advantages of medication synchronization programs in simplifying their healthcare routine. Education not only informs but also builds trust and loyalty.
4. Highlight Specials
Maximize your posters’ impact by prominently featuring current promotions, discounts, or special offers. Keeping this information up to date encourages patients to make impulse purchases or take advantage of limited-time deals, driving sales and increasing the perceived value of your products or services.
In-store posters serve as silent salespeople, providing valuable information to patients while subtly influencing their purchasing decisions.
All Essentials, Unlimited, and Inner Circle members get unlimited graphic designs included with membership. We can custom-make your catchy poster for you.
Pillar 4: Cross-Promotions with Channel Partners
Cross-promotions involve partnering with other businesses or healthcare providers to offer joint promotions or discounts. The best partners for this are others who also do business with your ideal patient but provide different services. These are your channel partners. This strategy not only increases per-patient spending but also expands your pharmacy’s reach.
Here’s how to implement successful cross-promotions:
1. Choose Complementary Partners
Strengthen your pharmacy’s offerings by carefully selecting partners whose products or services complement your own. For example, consider collaborating with a local gym to provide discounts on vitamins and supplements, creating a synergistic relationship that benefits both businesses and customers.
2. Promote the Partnership
Increase awareness of your collaboration through various channels, including in-store signage, email marketing, and social media. Clearly communicate the exclusive offers and benefits that customers can access as a result of the partnership to encourage their participation.
3. Track Results
Measure the effectiveness of your cross-promotions by regularly monitoring customer engagement and sales data. Analyze the impact of the partnership on your pharmacy’s bottom line and patient satisfaction. Use this data to make informed adjustments to your cross-promotional strategy as needed.
4. Customer Convenience
Prioritize patient convenience by streamlining the process for taking advantage of the cross-promotion. For example, if you partner with a local health clinic, offer services like prescription delivery to their location, making it easier for patients to access your pharmacy’s products and services while enhancing the partnership’s value.
Cross-promotions not only boost sales but also strengthen your pharmacy’s ties to the community, positioning you as a healthcare destination.
Internal marketing is a powerful tool for increasing per-patient spending in your pharmacy. It is most effective when you create a plan for solving more of your patients’ problems. Not only do you increase your sales, but you are also able to increase patient happiness as you take care of their needs more. When executed thoughtfully, internal marketing can be a win-win for your pharmacy and your loyal patients.
For more ways to create one-of-a-kind pharmacy patient experiences, read How to Wow Patients: 10 Surefire Ways to Make a Lasting Impression.