Where Pharmacists Spend Their Time Makes a Critical Difference in the Outcomes They Achieve
Pharmacy managers and owners should dedicate some of their time to marketing efforts that can boost their bottom line.
Here is a systematic approach to increasing cash flow and profits:
Demonstrate leadership by showing team members exactly how selling is done. This step is critical because the demonstration can lead to “monkey see, monkey do” results from most staff members. That can in turn lead to higher profits.
Pharmacists who spend whatever time is necessary to ensuring that their product displays are the best they can be, especially on endcaps, typically see optimal results. Make sure that endcaps are accompanied by signs and a copy of the ad.
Next, free up time by training a strong second-in-command—an operations manager, for example. Delegating responsibilities for daily and weekly activities can open up time for marketing.
When a pharmacy manager’s or owner’s focus on marketing efforts is evident to team members, they will recognize that the pharmacy is serious about increasingsales.Butpharmacymanagerswhosayone thing and do another will find that their employees do not believe in them and will be reluctant to execute their plan. Pharmacists in charge must make sure that their actions align with what they say.
It is essential that all pharmacy managers to understand that marketing and entrepreneurship go hand in hand.
DO IT THE LOW-COST WAY
One of the best ways to attract customers to your pharmacy—and a key step in the process of organizing activities around marketing—is to present a solution for a chronic disease to a group of people. The subject can be based on your choice of product to market. This activity has no advertising costs and is called grassroots marketing.
Pharmacists who organize their time around this marketing machine, as well as the efforts mentioned above, will likely find that cash flow and profits soar.®
Lester Nathan, MS, offers free business resources for pharmacy owners on his website, thepharmacysage.co.