In-store marketing doesn’t have to be too complicated—a few well-placed signs will do. One of the easiest ways to increase profits is by encouraging your team to engage with patients and customers and be comfortable making recommendations or upselling. To increase sales force knowledge by organizing training, meeting, expert event specially for team of representatives is a good idea, however, it has its own hidden “stones”. An HDA member, PBA Health operates its own VAWD-certified warehouse with more than 6,000 SKUs, including brands, generics, narcotics CII-CV, cold-storage products, and over-the-counter (OTC) products. You can use 3 similar simple strategies to increase revenue in your pharmacy. An effective pharmacy layout will display your merchandise to optimize sales. Competition on the High Street is fierce. Start by tracking each first contact you make with a lead – you need to know exactly how many leads you contacted and exactly how many of these leads generated appointments. Sales Success best sales practices, increase sales, sales training Finding new people to buy your product or service is an important part of the entire sales process. Even an IVR (interactive voice response) phone system can yield major productivity benefits. Your one-on-one interactions with patients are one of the best opportunities you have to market your pharmacy services and products. Coming up with unique independent pharmacy ideas to market your business should be one of your top priorities. Pharmacy has long been apologetic about earning money from its biggest customer group – those coming with prescriptions. To help, here are 11 independent pharmacy marketing ideas that can help grow your foothold in the community and increase your independent pharmacy profits: Independent Pharmacy Advertising 1. People generally need more than they think they do. This is applicable especially in case of B2B sales where the salesperson is the influencer for buying behavior. Use the following steps to improve your retail sales and you'll simplify your efforts, ... the crucial difference is having fresh ideas with an impartial business position. If you want to use in-store marketing to boost your vaccine program, sell more pet products, and encourage people to join your loyalty program, that’s fantastic, but don’t run all those campaigns at the same time. Elements Magazine Shopfitting and retail design tips for Pharmacies by Creative Shop Retail Shopfitting. If that’s already an existing customer, the chances are up tp 60% to 70%! So, it is vital that you make your premises as attractive as possible. You can often see big increases in footfall by making very marginal changes. 1. The simplest method of tracking performance is to establish sales goals for your team and for individual reps and then evaluate performance, either monthly or quarterly. I hope you’ll share some of the questions you come up with. With that said, let’s dive into the post. It may be tough for some people, but if your goal is to increase sales then you need to figure out which sales strategy will be … To help, here are 11 independent pharmacy marketing ideas that can help grow your foothold in the community and increase your independent pharmacy profits: Independent Pharmacy Advertising 1. Sales can be increased in many ways like offering promotions and discount make a huge difference in increasing sales. 10 In-Store Pharmacy Marketing Ideas to Increase Sales February 25, 2020 Inside: Encourage patients to increase their basket size with these creative in-store marketing techniques. We are a leading resource for insight within current retail pharmacy trends and industry updates. When you are friendly and know the store’s products like the back of your hand, you’ll be able to encourage patients to buy the things they didn’t know they needed. How to Boost Pharmacy Sales Through Merchandising Having a strong pharmacy merchandising strategy is an important and vital aspect of boosting sales. Recommendations. Sign up for our e-newsletter. Try targeting these variations with your product campaigns – there’s a big chance that bids on these terms will be cheaper, and you’ll be a good shot at increasing your quality score while you’re at it. Print Advertising Leave them in the comments section below. Use Your Pharmacy’s Floor Plan to Your Advantage. These 3 tips can send hoards of new patients to your pharmacy rather quickly. As you can see, there are many short- and long-term tactics that can build traffic and increase sales without impacting your bottom line. Tip sheets can easily be slipped into shopping bags as patients are checking out, and then they stick around in their house. Have a sale – You can offer a holiday or other discount to either the general public or your best customers. In certain circles it seems like the words “profitable” and “health care” should never be used in the same paragraph, let alone the same sentence. With the right messaging and execution, you can increase basket size. Design Store for Sales Take advantage of cross-merchandising strategies and impulse sale opportunities. During cold and flu season, you can provide advice for avoiding illness while at the same time reminding them you carry all the products patients need if they do end up getting sick. You need to have a clear picture of where you are today and then monitor your average ticket size, and overall sales to make sure that your revenue is growing the way that you expect it to. In the next five years, the number of businesses in the drugstore and pharmacy industry remained steady, with 1.6% growth in 2020, according to an article on IBISWorld. Boost sales for your small business now! On-the-go patients who are contending with data limits appreciate the opportunity to log in to free Wi-Fi while they shop. Your employees are your most valuable asset. We know this is a tough time for retailers, so we hope you find these tips useful. To avoid making the same errors, here’s a list of tips on how to create meaningful planograms that will actually increase store performance: 1. In 2015, the market generated 46% of global sales. Save my name, email, and website in this browser for the next time I comment. By streamlining the workflow, a pharmacy can achieve a significant reduction in the movement needed to fill each script, enabling the technicians to fill scripts more quickly, which translated into labor cost savings for the pharmacy owner. Advertise More . You can also use free Wi-Fi to ask for patients’ email addresses, which means you can reach out to them with more offers after they’ve left the store. Whether you want a customize pharmacy marketing ideas to fit in different targets or grow your company while increasing sales and leads, we are here to help you. Whether you mirror your sales reps or use 1:1 assignment to each target, today’s sales model is changing towards an account team focus. Email address (we will keep your email completely private). 2) Invest in training: It will take more than a few pointed questions to find success. The 3 Most Successful Pharma Sales Strategies Changes in the Pharmaceutical sales model have forced Global Pharmaceutical Sales Leaders to invest in new selling strategies in recent years. ... Join the Independent Retail Pharmacy Association today and access our network of over 18,700 retailers and partners. 1. Here’s a terrific (long, but really worth it) Mark Hunter article on sales call best practices filled with sales tips you can use to be an outstanding sales rep in medical sales, laboratory sales, medical device sales, clinical diagnostics sales, biotechnology sales, imaging sales, or pharmaceutical sales:. 6. None of these ideas are magic solutions. You can also use them to show off the great reviews and praises you’ve received from patients on review sites and social media. A pharmacy council is a group of inpatient pharmacy directors from noncompeting hospitals and health systems who regularly share data and exchange information on the prescription medications their organizations are using, new pharmaceuticals on the market, drug shortages and how much they’re paying for the drugs they’re using. Brian Cairns, founder and CEO of ProStrategix Consulting, a company that provides guidance and expertise to small businesses, says that many pharmacists aren’t taking advantage of the marketing opportunities presented to them when patients walk into the store. Have staff brainstorm ideas on how to reduce steps, eliminate bottlenecks and improve the order ﬂow. We are here to help you create an advertising or marketing plan for your pharmacy. Below you will find over 60 ideas from 9 medical professionals and companies to help increase your practice’s revenue. Contact us at (619) 798 8179 and reach the right clients for your pharmacy business at the right time. Ideas to Increase Sales. With that said, let’s dive into the post. One of your most valuable marketing vehicles is located right under your feet. Study your local area to know who your customers are and what they want Take advantage of technology – Even if a pharmacy can’t justify the investment in robotics, there are other ways to get the benefits of technology at a lower cost. by Pharmacist-HUB - 29/12/2020. By Catherine Sampson May 31, 2016 - In this period of healthcare reform, numerous organizations continue to change their business practices so they can obtain more hospital profitability while also delivering quality care. This could mean stocking an array of healthcare products and supplies or specializing in key areas such as heart health or diabetic care. Maximizing Sales in Retail Always Comes Back to the Brand. 1) Ask Smart questions: This is a relatively easy thing to change, but it does require some thought about what the mission is in your pharmacy. The business magazine for independent pharmacy. It’s the holy grail for retail marketers: Drive revenue while protecting margin. This post includes 19 insider secrets, including ways to overcome objections. Cairns posed the situation, “When you have a cold, are you going to buy something on Amazon for next-day shipment or go to the drug store? The biggest mistake you can make is not engaging with your patients in the store. I showed her how to sequence the sales call, what to say and when to say it to get the prospect to sell themselves. Rethink the sales coverage strategy and compensation plan. Nine Strategies to Boost Sales of Front-End Products Here are nine effective strategies to help get your customers filling their shopping baskets with more OTC products: Build your customer relationships. Sales reps conducting pharmacy or hospital visits have traditionally focused on free samples, with pharmaceutical companies spending billions of dollars per year on this technique. To successfully execute in-store marketing, you have to understand how your patients shop, then tailor the in-store experience. Many people see shopping as a skill, so you should use marketing to make them feel like they are snagging a good deal (all while getting them to spend more money at the pharmacy). Increasing by 500 is just unrealistic. To the seasoned sales professional, though, an objection is an opportunity goldmine. In order to increase sales, you'll need to understand your own pipeline percentages. Do what you need to get your message out, but don’t bombard your patients. How will you know if you’re asking the right questions? We’re always looking for ideas to increase sales … However, there are many other things you can do to increase business, including improving patient and physician relationships, offering ancillary services and providing exceptional levels of customer service. You can also monitor participation in your customer loyalty program. 2. customer loyalty, customer service, Efficiency, pharmacy. Tidy up your shop front. A more pointed and in depth sales process will help your pharmacy grow. Overcoming objections in sales. Hold a contest – Offer to automatically enter your customers into a cont… These tactics are rarely used in chain pharmacies and, therefore, can make your pharmacy more preferred over your competition. “You’re there in the community, so you’re able to see what’s happening,” he explained. Then determine how you can point them to what they need. Sales reps forget up to 79% of new information within 30 days (Qstream). Sales can increase up to 10% in the year following a redesign. According to this article, instead of the more traditional, “How are you today?” or “Did you find everything you need?” They instead ask “What space are you trying to organize”. The first step is gathering the right resources and tools to improve your sales performance. Another potentially expensive approach has been gifting: courting … When your patients are in the store, it’s the best opportunity you have to show them what you’ve got. Consider newspaper ads, magazines, specialty publications and other forms of marketing. Ideas to Increase Pharmacy Business Learn More → A new pharmacy must quickly build relationships with patients and medical professionals and establish a reputation as a … There’s no shelf you can direct patients to for “medication therapy management” or “immunizations,” but brochures bring tangibility and make it easier for patients to remember these programs exist. You can’t be both. Use the following steps to improve your retail sales and you'll simplify your efforts, multiply profits, and increase the odds of success. It is the old “either/or” fallacy rearing its head. You get the idea. If there is too much going on, patients who visit are going to feel overwhelmed, and they might not come back. Sales and Promotions 10. Place the sign near the door or around the pharmacy to help them find cold and flu meds, beauty products, or the pharmacy counter. There are many different ways you can market to patients in-store. You may unsubscribe from these communications at any time. Traditional selling tactics may work not as well as before, so we’ve added new recommendations to help increase your retail sales. 1. Some areas of your pharmacy probably receive more foot traffic than others. The pharmaceutical industry is one of the fastest-growing sectors in America. “Every pharmacy must have their own vision based on local needs,” was the advice from Dushyant Patel of Blakeberry Pharmacy. 12. Sales reps forget up to 79% of new information within 30 days (Qstream). The company is a member-owned organization that serves independent pharmacies with group purchasing services, expert contract negotiations, proprietary purchasing tools, distribution services, and more. This is important because while sales reps are typically tracked and rewarded for their individual sales, the main goal of the sales team is to improve the sales for the entire organization. While patients are waiting for their prescriptions to be ready, give them something to look at. Ensure that you have the correct assortment/ range. But each tip will help increase your pharmacy’s capacity, improve efficiency and productivity, and ultimately improve your bottom line. For example, increase door knocks by 10 per day is doable. It is wise to increase marketing efforts during slower sales periods because there is more competition and fewer consumer dollars. You can easily rotate through product advertisements and information about the services you provide. Ideas to Increase Pharmacy Business Learn More → A new pharmacy must quickly build relationships with patients and medical professionals and establish a reputation as a … Set up stations where patients can try products out in the store. 2. It’s a strategy meant to increase the average ticket size and boost sales. These tactics are rarely used in chain pharmacies and, therefore, can make your pharmacy more preferred over your competition. That’s the principle behind the sales training at the Container Store. Sales Call Best Practices: ), but it’s imperative for your business to boost non-prescription sales as well. 3 ways to optimize pharmacy revenue capture and boost the bottom line Becker's Healthcare: As you go on appointments, keep track of how many of these appointments you were … This is the first post in a series dedicated to helping you increase your pharmacy’s revenue. Editor’s note: COVID-19 has dramatically changed the retail landscape. Whether you are bringing in over $100 million in yearly revenue or $10,000, you can double or nearly triple that number with these tips. Overcoming sales objections is the key to making the sales. PBA Health is dedicated to helping independent pharmacies reach their full potential on the buy side of their business. Here are some tips and tricks that will help you close. Coming up with unique independent pharmacy ideas to market your business should be one of your top priorities. ... Ideas on increasing sales would be highlighted shortly. Sign up for a FREE subscription to Elements magazine! And if at first, you don’t succeed… well, you know the rest. Just be careful not to offer too many; your customers might begin to wait for a sale instead of buying things at regular price. Increased sales opportunities; Consistent branding to create store identity and loyalty; Finalist for Pharmacy of the Year at APP 2013 “Our new Pharmacy is brilliant and our retail sales have increased by 73%,” Coral Coast Pharmacies. In just two weeks, Pat eliminated time wasters, increased per client revenue by 50% and more than doubled her closing rate. 0 . Whether it is a fancy pen or a scented lotion, patients will be encouraged to stop for a little while and look around at everything else you have to offer. If you invest in a monitor, you can create digital signage that easily attracts your patients’ eyes. 1; Prescriptions may be the number one reason patients come into your pharmacy (not to mention a vital revenue source! Which of the 10 ideas below is the best fit to help your pharmacy increase sales? So, direct mail pieces like postcards, mailers, and brochures will usually find the … What do you want customers to have accomplished when they leave your pharmacy? Amish Patel believes that considering local needs is one major advantage that independent pharmacies have over multiples. Read honest and unbiased product reviews from our users. Call certain products out by putting them in flashier displays. Healthcare executives need look no further than the pharmacy department to drive new revenue. Take advantage of training programs from your service providers and business partners. The start of a new year is a good time to evaluate your membership plan. Get your customers off the “discount drug,” boost profits and maintain margins with these creative ideas to improve retail sales performance. Answering these questions should help you come up with some questions of your own. 7 Ways to Increase Non-Prescription Pharmacy Sales. You are then increasing your sales without the added cost. His pharmacy offers patients an anticoagulant service and a sexual health service. If you need an effective action plan to improve yours or your team’s sales performance, here are some useful and proven recommendations. They’re more accessible, and because they are highly visible, they increase sales. 3 Ways to Improve Sales in your Pharmacy. And setting up creative displays costs only time. It also gives them an avenue to use their expertise about the products that the store carries to advise the customer on the best purchases to meet their needs. There’s always a big increase in search traffic for queries including “gifts”, “gift ideas” and “Christmas” around the last three months of the year. It’s a win-win. Shoppers value a pharmacist whom they trust to provide credible information and care. RMS needs the contact information you provide to us to contact you about our products and services. Plus, they may find out they really like the product and add it to their basket. IVRs offer very good benefits for the price. Sales performance is the measurement of sales activity against the goals outlined in your overall plan. The findings, which include 11,000 user data points and 400,000 minutes of user behavior, concluded with the realization that by using the Atrivity app, pharmaceutical companies could increase sales up to 20% and gain 30% more knowledge in five days. From email campaigns and hashtags to Facebook boosts and Google Ads, we’re ready to show you how you can take your digital advertising to the next level so you can increase sales. Try to avoid these stumbling blocks when creating an in-store marketing campaign. Some ideas are unique, while there seems to be agreement on several key strategies. You don’t want your pharmacy to look like a scene from Blade Runner. Your store provides you with an opportunity to reach a captive audience, and if you’re not using it to further your marketing strategy, you could be missing out on potential profits. What feelings do you want them to have about their experience? To ensure your message is read, place signs in your window and at the checkout counter. I’ve come up with a few to get you started. Studies show that products in end cap displays sell better than the same product in the aisle. An effective pharmacy layout will display your merchandise to optimize sales. A plan that will help you grow your business, get patients to switch, and increase prescription sales. Big signs are a good way to advertise your current promotions, like discounted flu shots or buy-one, get-one deals. Your marketing should not only produce an immediate and very measurable response, but also brand your pharmacy consistently. You’ll have more satisfied customers with fuller shopping carts. Encouraging and motivating the sales team with better salaries and benefits is one way to do that. People generally need more than they think they do. Use lighting techniques and creative displays to attract customers. How to increase footfall and drive sales 1. You can turn that into a marketing opportunity by creating a landing page that lets them know about any special deals you’re running. Issue exclusive coupons when patients walk into the pharmacy. For example, increase sales by 17% by the end of the next quarter. Signs that point patients to their most-needed products make your pharmacy more user-friendly. Indeed, in the current climate retailers are battling for every last customer. To increase sales force knowledge by organizing training, meeting, expert event specially for team of representatives is a good idea, however, it has its own hidden “stones”. Point of service for a more profitable and customer-centric pharmacy, Steps for Contingency Planning in Your Pharmacy Business, New Rules (and a few old ones) for Increasing Pharmacy Sales, 4 Things Every Pharmacy Should Do This Year. When she put my system into practice, her closing rate more than doubled; it increased to 70%. It has seen itself primarily as an NHS service but with NHS money being eroded and pharmacy increasingly being sidelined and pushed to become more self-sufficient making money from customers through OTC sales and services is the only way to survive. Independent Pharmacy Channel. Amish Patel believes that considering local needs is one major advantage that independent pharmacies have over multiples. As a sales leader you need to ensure your reps have the right training and coaching available for them to meet and exceed their quotas. Try out a few of these techniques to increase your sales. Not only that, they must be completely comfortable with taking the interaction from the first question until the sale is completed. Inside: Encourage patients to increase their basket size with these creative in-store marketing techniques. Out, but it ’ s happening, ” boost profits and maintain margins with creative. 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