As we approach the end of the financial year, Peak Strategies is here to assist pharmacies in reaching new levels of success. Our mission is to guide you through a simplified and easy-to-implement internal planning process.
I am fully aware that the pharmacy industry, particularly owners and managers, are currently feeling fatigued and overwhelmed by the uncertainties and anxieties surrounding the recent policy changes. However, I want to stress that setting up a simplified and easy procedure for revenue growth can make a significant difference for your pharmacy.
For me personally, a consultant specialising in revenue growth, I cannot emphasise enough the significance of establishing robust systems and procedures for this aspect of your business. Just like any other facet of business, this department requires measurement and strategic planning. A mistake I frequently encounter when working with pharmacies is the tendency to neglect this area. Personally, I find this quite perplexing. Why? Because implementing a system is imperative to determining what works, what doesn't, and identifying opportunities for future revenue growth.
To help you get started, I've compiled three simple questions that I ask our consulting clients who want to consistently generate revenue for their pharmacy. By answering these questions and planning accordingly, you can streamline your pharmacy's revenue growth process. Let's dive in!
1. Who are your customers?
Contrary to what some may think, not everyone is your customer. Merely filling prescriptions or provide flu shots to someone once doesn't guarantee that they will always choose your pharmacy and become loyal customers.
The most successful pharmacies understand their customer profile inside out. They know what their customers value, which products they prefer, and how to effectively communicate with them beyond the four walls of the pharmacy. To find the answer, do market research, analyse your top-selling products, understand your customer profile, and gather other relevant data.
2. Is your team engaged?
One of the most significant mistakes pharmacy owners make is underestimating the importance of team engagement and its impact on the patient experience. As a marketing consultant, I've witnessed this issue firsthand. Investing in external marketing efforts becomes futile unless your team is fully engaged with the pharmacy's service offering, values, and customers. If you've answered this question with "I do not know" or "no," it's crucial to find a solution to ensure your team is engaged. This might involve implementing team-building activities, offering training and development opportunities, or fostering a positive and inclusive work environment.
At Peak Strategies, our focus is always on team engagement. We closely collaborate with your staff to ensure they understand all the procedures, systems, and promotional activities. We offer our clients proven systems that are easy to implement and follow.
3. How do you reach customers outside of your pharmacy?
Simply relying on an open sign to attract customers to your pharmacy won't work anymore. You need to take a proactive approach and explore different ways to promote your business. This can include using digital channels like social media and your website, as well as targeted advertising. It's also worth considering partnerships with local businesses or healthcare providers and exploring sponsorship opportunities. By adopting these strategies, you can build awareness for your pharmacy and reach potential customers beyond your physical location.
In conclusion, at Peak Strategies, we specialise in providing comprehensive consulting services specifically tailored for pharmacy businesses. Our experienced team is here to make implementing these strategies a breeze for you. Don't toss it into the "too hard" basket just yet.
We understand the unique challenges faced by the pharmacy industry, and we are equipped with valuable insights and solutions to help you optimise your customer profiling, enhance team engagement, and develop effective strategies to reach customers beyond your pharmacy walls.
Take that important step and reach out to us for a consultation. Let Peak Strategies be your trusted guide as you navigate the ever-changing landscape of the pharmacy industry, positioning your business for growth and success. Schedule a consultation with us today and seize the opportunity to maximise the potential of your pharmacy business.
Make informed decisions, embrace innovation, and partner with Peak Strategies to achieve your business goals. Together, we can drive your pharmacy towards a prosperous and thriving future.
Written by Sarah Rendell, our Head of Marketing and Communications, who possesses over a decade of valuable experience assisting pharmacies and other businesses in developing effective local marketing plans that drive customer loyalty and revenue growth.
How can Sarah best help you and your pharmacy? By completing the course she has designed for pharmacies.