Organize Your Marketing, Increase Cash Flow to Your Pharmacy

NOVEMBER 16, 2018
If what you are doing day-in and day-out is not creating new patients purchasing your high margin products and services, why are you spending any time doing it? Where you spend your time makes a critical difference in the outcomes you achieve.

I have listed below a systematic approach that will increase your cash flow and profits:
  • Choose one supplement that will markedly help people with a specific chronic ailment. When you choose one that’s superior to anything else found in other pharmacies, you have the basis of being different and decidedly influencing your readers and listeners. That’s the starting point.
  • Market that product showing decided benefits. Market it online and offline.
  • Organize all your efforts around your marketing. Provide training so that everyone on your team can inform and educate patients. Then display your leadership by demonstrating for them how it is best done. And be sure to mass display that product on an end cap.
  • Arrange speaking engagements built around this subject and the specific product. Present to different groups ie garden clubs, the junior league, etc. so that you can influence groupings of people with money to spend. They doubtlessly also have an interest in improving their health, as well as that of their families.
Start by marketing just one product. The choice of which one can be yours. Whether it’s a solution to arthritic pain or fighting influenza by building your patients’ immune systems, or something else, you decide.

Simply make certain that, when you advertise, you give them a reason to read, because you’re advocating solutions to whatever is ailing them. Be specific. Identify for them which product is superior and why. Give them cogent reasons for wanting to buy your item, not someone else’s.

Make certain that everything that you do each and every hour of the day is organized around all of your marketing, including your training and selling.

Display your leadership by showing your team members exactly how that selling is done. This step is critical because your demonstration of how it’s best done can lead to “monkey-see, money-do” by most staff members. That’s good. When they emulate you, your cash register rings more than ever before.

And when you spend whatever time is necessary to ensure that your product displays are the best they can be, especially on endcaps, then you can get the biggest results possible. And those endcaps should be accompanied by signs and a copy of your ad.

Next, free up your time by training a strong second-in-command. It is fundamental to your having more time. Let’s call her your operations manager. Then delegating to her responsibilities for all the daily and weekly activities. Such a move may very well lead to your having more time for marketing.

When the application of your time to your marketing efforts is amply evident to your team, they will recognize that you are truly serious about creating more sales. If you say one thing and do another, your people will not believe you. They will be reluctant to execute your wishes. Your actions must be in alignment with your statements. Therefore, what you do must be in alignment with what you say.

Please understand, marketing and entrepreneurship go hand-in-hand. They are indeed part and parcel of what you’re all about.

Do it The Low-Cost Way

One of the best ways to drive people into your pharmacy is to present your solution for a chronic disease to a group of people. Perhaps it’s the Garden Club or the Junior League, or some other higher income group of people.The subject can be based on your choice of product to market. It’s another step in the process of organizing all your activities around your marketing.  

This marketing activity has no advertising cost. It’s called “Grass Roots Marketing.” When well executed, it can be a powerful addition to your marketing machine. 

When you organize your time and efforts around your marketing machine, your cash flow and profits will soar.

The Pharmacy Sage can be reached at thepharmacysage@rxresultsnow.com

Lester Nathan, MS
Lester Nathan, MS
A powerhouse in the world of independent pharmacy, Lester offers free business resources for Pharmacy Owners on his website, ThePharmacySage.com. Offering insight, wisdom, and strategy, Lester is an esteemed voice in pharmacy business. Lester helps his clients increase patients and profits in spite of the 3rd party payment fiasco.
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