If you’re thinking of ways to increase your pharmacy’s profits, you have two ways to do so: Sell more to your current patients or get more patients to come to your store. Both ways can help you sell more over-the-counter (OTC) products, boost the number of prescriptions you dispense and increase your profits from other services such as the clinical services. Profiting more business from your current patients and bringing new patients into your store are both great methods to increase sales. We have some great ideas to pick up business from both types of customers.
Gaining new patients
1. Invest in your marketing Put your pharmacy in front of new patients using social media by developing a social media strategy, posting often, connecting to other businesses around you including physician offices and clinics, targeting specific groups, holding contests and providing education among others.
2. Build your referral relationship
Getting referrals are one of the fastest ways to get new patients to come to your pharmacy.Working with area physicians and let them know about the products or services you offer.You can also incentivize physician offices to refer patients to your pharmacy by knowing what medications they prescribe and formulate a discount or program for their patients. Programs such as BonaRx® is a great way to have access to these type of data which helps you make intelligent decisions.
3. Boost your community partnership Attract new patients by raising your pharmacy’s community partnership with organizations such as non-profit organization, local employer groups, local physicians and public health services. These partnerships can help raise your pharmacy’s profile in the community and create awareness among potential patients about what your pharmacy.
4. Establish yourself as an expert Promote your pharmacy’s staff as the expert in your community. Whether you specialize in diabetes psychiatry patients, compounding or HIV, make sure to promote your knowledge and expertise by hosting educational events, participating in community health fairs, and by posting relevant information on your social media regularly.
5. Cultivate a web presence In today’s digital world, your pharmacy must have an online presence. People who are looking for a new pharmacy will likely start with a Google search, so it’s important to create a strong presence in popular search engine results. Remember interactive website is your store front on the web, utilize your website to attract and engage your customers.
Selling more to current patients
1. Strategically merchandise your front end Sell more to your patients you already have by maximizing sales. Following a plan-o-gram to arrange and display your merchandise, reducing out-of-stock and having a monthly seasonal special can help you sell more.
2. Make more recommendations Recommending front-end products is a great way to increase sales. Placing products near the check-out area can help you sell impulse purchases such as supplements or topical products.
3. Expand your front-end selection Breadth + Depth = Product Assortment. The product breadth is the number of product lines, while the product depth is the variety within each of those lines. These two elements combine to make up the store's product assortment or merchandise mix.
4. Offer same-day home delivery Offering same-day home delivery of medication and products help you compete in today’s competitive market. With Amazon as well as other retailers offering free same-day home delivery, community pharmacies are well positioned to offer the same. Providing an ecommerce for your pharmacy combined home-delivery is a great way to have an edge over the competition.