FAKULTAS SAINS DAN INFORMATIKA UNIVERSITAS JENDRAL ACHMAD YANI CIMAHI 2019 HOW TO INCREASE TURNOVER AT THE PHARMACY (MARKETING STRATEGY)
The purpose of any business is to bring in customers, and it can only be
accomplished through marketing. If your cash registers don't ring, something is wrong and you had better find out what is wrong fast. Because in today's competitive retail world... getting results is what counts. In an independent pharmacy business, cross-selling is a quick and easy way to increase profits, while positioning your pharmacy as knowledgeable and caring. As a pharmacist, you can add thousands of dollars to your bottom line and add volume and credibility to the pharmacists’ role as counselor. And not to mention, brand your pharmacy as the local option that truly cares about the well-being of its customers. By developing relationships with your customers and with medical facilities, you can increase the potential for repeat sales and improve the bottom line for your business. Prescriptions may be the number one reason patients come into your pharmacy (not to mention a vital revenue source!), but it’s imperative for your business to boost non- prescription sales as well. In recent years, the profit margins of prescriptions across the industry have been dropping while margins for OTC or front-end products remain consistent and strong. This merchandise can be an important source of revenue and maximizing your retail sales are just as important in your profitability as selling prescribed medications. Below are strategic ways to entice patients to make non-prescription purchases and ultimately boost your pharmacy revenue. 1. Do Your Market Research Just because you like a particular product, doesn’t mean everyone else does too. Don’t rely on your intuition to figure out the best ways to grow your non-prescription sales. Review data and research to determine which over-the-counter and retail products are hot. A study by Hamacher Resource Group (HRG) found that pharmacists assumed that diabetes products ranked as the fourth most-shopped non- prescription category, but point-of-sale data revealed that diabetes products actually ranked 15th. Also, review your sales figures to see which product categories are most popular with your customers and take steps to make these products easier to locate in your pharmacy. 2. Use Your Pharmacy’s Floor Plan to Your Advantage An effective pharmacy layout will display your merchandise to optimize sales. Some areas of your pharmacy probably receive more foot traffic than others. For example, areas next to the prescription counter and aisles leading to the checkout registers tend to be higher in traffic. Rotate products in and out of these areas and at the end-of- aisle displays to determine which items see increased sales in these highly visible locations. Moving merchandise around will also help keep your store fresh and current for your customers. 3. Train Your Pharmacy Team to Cross-Sell and Upsell As a pharmacist, you know that a large number of drugs dispensed have the potential of causing drug-induced nutritional deficiencies. Many of the patients that walk through your door are already buying nutrients. Knowing this, the questions you should ask yourself are: Are they buying them from your pharmacy? Are they buying quality supplements that are beneficial to their health? Upselling nutrient depletion supplements is a win-win. Patients who are buying supplements elsewhere don’t normally consult a pharmacist at the time of purchase, so are oftentimes not taking the correct nutrients their body needs with drug-induce depletion. For example, you make $5 selling a patient a beta blocker, and then you make $15 selling them the CoQ10 his body needs to have because of that drug. Your pharmacy team is key to this “UpSolutions” strategy. Train them to build relationships with customers and make relevant product suggestions based off the drugs they are prescribed. This can also work for any product you sell in your store. Coach your team to be helpful and ask customers what products they are looking for so they can easily find it and this can open the conversation to upselling. It can also be helpful to hold weekly team meetings to inform your staff what inventory needs to be moved, marked down or removed. Idea: Hold a contest and reward staff members that upsell the most products each month. 4. Train your employees to provide customer service first and to focus on making your customers happy. If you can decrease the amount of time that your customers are waiting and make sure that your staff is always friendly and accommodating, it can make customers want to come back to you again and again. 5. Automate some of the processes of the pharmacy business. Robotics are commonly used in pharmacies now to help dispense medications. You can also get hardware and software packages that will help you track inventory and sales more effectively. If you can automate any of these processes, you can free up time for your employees to serve customers and be more efficient as a business overall. 6. Develop relationships with doctors and medical facilities in the area. When doctors prescribe medication, they can recommend a particular pharmacy to their patients. If you develop positive relationships with local doctors, you can potentially increase your referral business significantly. 7. Accept as many insurance plans and pharmacy discount plans as possible. With rising costs for pharmaceuticals, people are looking for any means possible to lower their bills. Look for any insurance or does come plans that you currently do not accept that you could add to the programs that you accept. 8. Build Strong Customer Relationships According to HRG research, consumers who have established good, trusted relationships with their pharmacy are more likely to return compared to visiting stores where they don’t have a personal connection. Your talented team is capable of creating an atmosphere of comfort and trust so be sure to train them to engage with customers and establish personal relationships whenever possible. .Guide your staff to recognize repeat customers and greet them by their first name or ask questions about their families, work or pets. Everyone appreciates a personal touch. 9. Stock Related Products Closely Knowing how products relate to each other can help your pharmacy increase retail sales. For example, people who are looking for a knee brace may find it helpful to also purchase joint cream or customers with a cold might be looking for a box of tissues. Display related products next to each other, so your customers can easily find what they are looking for. Don’t forget to use your pharmacy floor plan to help you determine how to position related products for maximum sales impact!