I am sure you have heard the saying if you’re not growing you’re dying. Then why is it that the majority of independent pharmacies are declining in revenue.
We know, PBMs force patients to go to a certain pharmacy, the chains can spend more on advertising, you do not have enough time. These are all the excuses we hear but growth is important, every day patients move, pass away, are forced to other pharmacies and as such everyday you should be doing something to grow.
Below we have outlined 3 things you could do this week to start your journey into creating growth at your community pharmacy.
- Have your staff start asking every customer if there is anything else they need. If you want to learn more here is a great article on cross selling https://www.vendhq.com/blog/cross-sell-upsell-retail/
- Create a Facebook ad. Facebook ads are very targeted, you can market it to a specific zip code(s), a particular demographic and you can limit your spend. Lastly, it only take 5 minutes to do. Here is a link to Facebook’s how to boost an ad https://www.facebook.com/business/help/347839548598012?id=352109282177656
- Make 3 Sales Calls – Get out of the store. Go see a doctor you work with and see if you can expand that relationship, visit an assisted living facility or meet with a home health agency. One of these relationships can grow your business by 10% or more but they need to know how you can help them or their patients. The only way for them to know is having a face to face meeting. If you want to learn more about sales we suggest reading Spin Selling by Neil Rackham https://www.amazon.com/SPIN-Selling-Neil-Rackham/dp/0070511136.
Reach out to us if you have questions – we always like to hear from you.