To increase sales force knowledge by organizing training, meeting, expert event specially for team of representatives is a good idea, however, it has its own hidden “stones”. 3 ways to optimize pharmacy revenue capture and boost the bottom line Becker's Healthcare: Contact us at (619) 798 8179 and reach the right clients for your pharmacy business at the right time. When you are friendly and know the store’s products like the back of your hand, you’ll be able to encourage patients to buy the things they didn’t know they needed. 3)      Monitor your success: How will you know if you are succeeding. Pharmaceutical sales embody ethical (prescription only) and over-the-counter (OTC) categories. Brian Cairns, founder and CEO of ProStrategix Consulting, a company that provides guidance and expertise to small businesses, says that many pharmacists aren’t taking advantage of the marketing opportunities presented to them when patients walk into the store. People tend to pay attention to what they receive in their mailbox. Increasing by 500 is just unrealistic. It’s a win-win. Get your customers off the “discount drug,” boost profits and maintain margins with these creative ideas to improve retail sales performance. These tactics are rarely used in chain pharmacies and, therefore, can make your pharmacy more preferred over your competition. RMS needs the contact information you provide to us to contact you about our products and services. This is important because while sales reps are typically tracked and rewarded for their individual sales, the main goal of the sales team is to improve the sales for the entire organization. Tip sheets can easily be slipped into shopping bags as patients are checking out, and then they stick around in their house. Now brainstorm with your pharmacy staff to come up with some more great questions. Make sure your employees are well versed in all the products you carry, what services you can offer, and how to effectively utilize your technology. 25 Sales Contest Ideas to Motivate Your Team. Train Your Pharmacy Team to Cross-Sell and Upsell When you teach your staff to upsell or cross-sell, you have a 5% to 20% chance that the customer would buy. Shoppers value a pharmacist whom they trust to provide credible information and care. Issue exclusive coupons when patients walk into the pharmacy. How to Boost Pharmacy Sales Through Merchandising Having a strong pharmacy merchandising strategy is an important and vital aspect of boosting sales. Convert Your Pharmacy Business Website into Lead Generation Engine. The pressure to increase sales numbers has never been higher. ... Join the Independent Retail Pharmacy Association today and access our network of over 18,700 retailers and partners. Hold a contest – Offer to automatically enter your customers into a cont… These 3 tips can send hoards of new patients to your pharmacy rather quickly. 10 In-Store Pharmacy Marketing Ideas to Increase Sales February 25, 2020 Inside: Encourage patients to increase their basket size with these creative in-store marketing techniques. Set up stations where patients can try products out in the store. The company is a member-owned organization that serves independent pharmacies with group purchasing services, expert contract negotiations, proprietary purchasing tools, distribution services, and more. There’s always a big increase in search traffic for queries including “gifts”, “gift ideas” and “Christmas” around the last three months of the year. Figure out who you’re targeting, like people with colds or diabetic patients. How will you know if you’re asking the right questions? Study your local area to know who your customers are and what they want Editor’s note: COVID-19 has dramatically changed the retail landscape. Whether you want a customize pharmacy marketing ideas to fit in different targets or grow your company while increasing sales and leads, we are here to help you. It has seen itself primarily as an NHS service but with NHS money being eroded and pharmacy increasingly being sidelined and pushed to become more self-sufficient making money from customers through OTC sales and services is the only way to survive. Your employees must know what to do with the answers they get to whatever question or questions you choose to ask. An HDA member, PBA Health operates its own VAWD-certified warehouse with more than 6,000 SKUs, including brands, generics, narcotics CII-CV, cold-storage products, and over-the-counter (OTC) products. I’ve come up with a few to get you started. Take advantage of technology – Even if a pharmacy can’t justify the investment in robotics, there are other ways to get the benefits of technology at a lower cost. Use them as a starting point to find the perfect questions to ask your customers. Make your brand a must-have amongst your targeted market. Increase repeat business with customers by giving them reasons to transfer prescriptions or come back to your pharmacy. Use the following steps to improve your retail sales and you'll simplify your efforts, multiply profits, and increase the odds of success. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, please review our Privacy Policy. What do you want customers to have accomplished when they leave your pharmacy? You don’t want your pharmacy to look like a scene from Blade Runner. 0. Try out a few of these techniques to increase your sales. Hospitals profitability can be increased by boosting patient satisfaction, reducing readmissions and understanding revenue cycle performance. By streamlining the workflow, a pharmacy can achieve a significant reduction in the movement needed to fill each script, enabling the technicians to fill scripts more quickly, which translated into labor cost savings for the pharmacy owner. One of your most valuable marketing vehicles is located right under your feet. In-store marketing is one of the least expensive ways to reach your patients. In this post, we look at 5 services you can employ in your pharmacy to help you do just that. With that said, let’s dive into the post. According to this article, instead of the more traditional, “How are you today?” or “Did you find everything you need?” They instead ask “What space are you trying to organize”. ), but it’s imperative for your business to boost non-prescription sales as well. Maximizing Sales in Retail Always Comes Back to the Brand. You can easily rotate through product advertisements and information about the services you provide. 0 . Placing brochures at the counter is a great way to teach patients about new services. Understanding Your Pipeline Percentages . We know this is a tough time for retailers, so we hope you find these tips useful. My emphasis will be more on the ethical lines but can be extended to OTC ranges. It’s a strategy meant to increase the average ticket size and boost sales. ... “One of the things independent pharmacies can do to increase their front-end sales almost immediately is to tend to the customers already coming into the store by offering more OTC recommendations,” Wendland said. Sales can increase up to 10% in the year following a redesign. How to increase footfall and drive sales 1. 1. The Pharmacy Sage can be reached at (518) 346-7021 or Lester@ThePharmacySage.com You can turn that into a marketing opportunity by creating a landing page that lets them know about any special deals you’re running. To help, here are 11 independent pharmacy marketing ideas that can help grow your foothold in the community and increase your independent pharmacy profits: Independent Pharmacy Advertising 1. Your employees are your most valuable asset. Start a “club” where customers get membership and exclusive invites/access to an evening “session” on a certain health topic, or specialty item that you offer. Make sure you value them properly and invest in them without hesitation. For example, areas next to the prescription counter and aisles leading to the checkout registers tend to be higher in traffic. Cairns posed the situation, “When you have a cold, are you going to buy something on Amazon for next-day shipment or go to the drug store? In this post, we look at 5 services you can employ in your pharmacy to help you do just that. Design Store for Sales Take advantage of cross-merchandising strategies and impulse sale opportunities. Encouraging and motivating the sales team with better salaries and benefits is one way to do that. Sales reps conducting pharmacy or hospital visits have traditionally focused on free samples, with pharmaceutical companies spending billions of dollars per year on this technique. With the rise of digital marketing, direct mail has become one of the most underrated pharmacy promotion ideas. If you need an effective action plan to improve yours or your team’s sales performance, here are some useful and proven recommendations. These also work double duty, letting patients know what kind of products you offer. I hope you’ll share some of the questions you come up with. Sales and Promotions 10. Just like your external marketing campaigns, your in-store marketing should have a clear and purposeful message. Amish Patel believes that considering local needs is one major advantage that independent pharmacies have over multiples. We are here to help you create an advertising or marketing plan for your pharmacy. Ideas to Increase Pharmacy Business Learn More → A new pharmacy must quickly build relationships with patients and medical professionals and establish a reputation as a … Leave them in the comments section below. Ideas to Increase Pharmacy Business Learn More → A new pharmacy must quickly build relationships with patients and medical professionals and establish a reputation as a … Rethink the sales coverage strategy and compensation plan. A potential customer is actually considering your business proposal. Distributors Serving Independent Pharmacies; ... read on for new ideas and insight. PBA Health is dedicated to helping independent pharmacies reach their full potential on the buy side of their business. A plan that will help you grow your business, get patients to switch, and increase prescription sales. Want more pharmacy business tips and advice? You’ll have more satisfied customers with fuller shopping carts. Some areas of your pharmacy probably receive more foot traffic than others. Pharmacy has long been apologetic about earning money from its biggest customer group – those coming with prescriptions. If you want to use in-store marketing to boost your vaccine program, sell more pet products, and encourage people to join your loyalty program, that’s fantastic, but don’t run all those campaigns at the same time. Not only that, they must be completely comfortable with taking the interaction from the first question until the sale is completed. Have staff brainstorm ideas on how to reduce steps, eliminate bottlenecks and improve the order flow. As you can see, there are many short- and long-term tactics that can build traffic and increase sales without impacting your bottom line. You may unsubscribe from these communications at any time. Answering these questions should help you come up with some questions of your own. It also gives them an avenue to use their expertise about the products that the store carries to advise the customer on the best purchases to meet their needs. For example, increase door knocks by 10 per day is doable. 10 Tips to Increase Membership Every club should have a good mix of membership strategies for retention and to increase growth. We’re always looking for ideas to increase sales … 6. Shopfitting and retail design tips for Pharmacies by Creative Shop Retail Shopfitting. For example, increase sales by 17% by the end of the next quarter. Competition on the High Street is fierce. Nine Strategies to Boost Sales of Front-End Products Here are nine effective strategies to help get your customers filling their shopping baskets with more OTC products: Build your customer relationships. Place the sign near the door or around the pharmacy to help them find cold and flu meds, beauty products, or the pharmacy counter. The first step is gathering the right resources and tools to improve your sales performance. Sales performance is the measurement of sales activity against the goals outlined in your overall plan. A more pointed and in depth sales process will help your pharmacy grow. Boost sales for your small business now! “You’re there in the community, so you’re able to see what’s happening,” he explained. Sign up for a FREE subscription to Elements magazine! You can also use free Wi-Fi to ask for patients’ email addresses, which means you can reach out to them with more offers after they’ve left the store. 1. Try targeting these variations with your product campaigns – there’s a big chance that bids on these terms will be cheaper, and you’ll be a good shot at increasing your quality score while you’re at it. With the right messaging and execution, you can increase basket size. 2. Overcoming sales objections is the key to making the sales. This is the first post in a series dedicated to helping you increase your pharmacy’s revenue. You need to have a clear picture of where you are today and then monitor your average ticket size, and overall sales to make sure that your revenue is growing the way that you expect it to. To successfully execute in-store marketing, you have to understand how your patients shop, then tailor the in-store experience. But each tip will help increase your pharmacy’s capacity, improve efficiency and productivity, and ultimately improve your bottom line. This is applicable especially in case of B2B sales where the salesperson is the influencer for buying behavior. I showed her how to sequence the sales call, what to say and when to say it to get the prospect to sell themselves. 7 Ways to Increase Non-Prescription Pharmacy Sales. Another way to increase sales is to motivate the Sales team. There’s no shelf you can direct patients to for “medication therapy management” or “immunizations,” but brochures bring tangibility and make it easier for patients to remember these programs exist. You get the idea. One of the easiest ways to increase profits is by encouraging your team to engage with patients and customers and be comfortable making recommendations or upselling. RELEVANT: If it doesn’t fit with the mission of the company as a whole, you may want to find a new goal to set. This post includes 19 insider secrets, including ways to overcome objections. Then determine how you can point them to what they need. These are techniques that involve making a product or service more accessible or affordable, or simply adding value. Even an IVR (interactive voice response) phone system can yield major productivity benefits. Ensure that you have the correct assortment/ range. Sales Success best sales practices, increase sales, sales training Finding new people to buy your product or service is an important part of the entire sales process. When your patients are in the store, it’s the best opportunity you have to show them what you’ve got. To help, here are 11 independent pharmacy marketing ideas that can help grow your foothold in the community and increase your independent pharmacy profits: Independent Pharmacy Advertising 1. If that’s already an existing customer, the chances are up tp 60% to 70%! Just when you may think it's time to cut back the marketing dollars, you should probably be advertising more. Use lighting techniques and creative displays to attract customers. It’s a strategy meant to increase the average ticket size and boost sales. Inefficient pharmacy layouts where technicians have to run halfway across the pharmacy just to pick up a vial can greatly decrease output. Take advantage of training programs from your service providers and business partners. Create a daily task list and stick to it. There is no single best way to increase profit margins. 1; Prescriptions may be the number one reason patients come into your pharmacy (not to mention a vital revenue source! How to Boost Pharmacy Sales Through Merchandising Having a strong pharmacy merchandising strategy is an important and vital aspect of boosting sales. by Pharmacist-HUB - 29/12/2020. Sales Call Best Practices: It is the old “either/or” fallacy rearing its head. Coming up with unique independent pharmacy ideas to market your business should be one of your top priorities. Elements magazine is published quarterly in March, June, September and December. Some ideas are unique, while there seems to be agreement on several key strategies. Front End, in Focus: Tips to Boost Pharmacy Front-End Sales July 21, 2014 By Articles, Independent Pharmacy Written ... “One of the things independent pharmacies can do to increase their front-end sales almost immediately is to tend to the customers already coming into the store by offering more OTC recommendations,” Wendland said. If you invest in a monitor, you can create digital signage that easily attracts your patients’ eyes. Your marketing should not only produce an immediate and very measurable response, but also brand your pharmacy consistently. Sales reps forget up to 79% of new information within 30 days (Qstream). We know this is a tough time for retailers, so we hope you find these tips useful. That’s the principle behind the sales training at the Container Store. Placement of the product in the store have a huge impact on its sale, if a product is placed at right position then its sale increase otherwise goes down. A pharmacy council is a group of inpatient pharmacy directors from noncompeting hospitals and health systems who regularly share data and exchange information on the prescription medications their organizations are using, new pharmaceuticals on the market, drug shortages and how much they’re paying for the drugs they’re using. Sign up to receive the weekly Elements e-newsletter for bonus business tips and advice. At the Container Store, sales reps receive over 250 hours of training in their first year of work. It is wise to increase marketing efforts during slower sales periods because there is more competition and fewer consumer dollars. It’s the holy grail for retail marketers: Drive revenue while protecting margin. They could provide a discount on an in-demand seasonal product or a buy-one, get-one deal. Printing costs are very low. Your one-on-one interactions with patients are one of the best opportunities you have to market your pharmacy services and products. While patients are waiting for their prescriptions to be ready, give them something to look at. Use the following steps to improve your retail sales and you'll simplify your efforts, ... the crucial difference is having fresh ideas with an impartial business position. The biggest mistake you can make is not engaging with your patients in the store. ATTAINABLE: Don’t set a goal that is not possible to reach. As you go on appointments, keep track of how many of these appointments you were … Sales reps forget up to 79% of new information within 30 days (Qstream). Find helpful customer reviews and review ratings for 151 Quick Ideas to Increase Sales (EasyRead Large Edition) at Amazon.com. Healthcare executives need look no further than the pharmacy department to drive new revenue. Read honest and unbiased product reviews from our users. It may be tough for some people, but if your goal is to increase sales then you need to figure out which sales strategy will be … Advertise More . Just keep trying until you strike the right chord. Tidy up your shop front. You can also use them to show off the great reviews and praises you’ve received from patients on review sites and social media. Start by tracking each first contact you make with a lead – you need to know exactly how many leads you contacted and exactly how many of these leads generated appointments. 12. The business magazine for independent pharmacy. First, ensure you have the right variety of products for each product category. You can also monitor participation in your customer loyalty program. To the seasoned sales professional, though, an objection is an opportunity goldmine. Indeed, in the current climate retailers are battling for every last customer. All pharmacies have the same primary business model, which is filling patient drug prescriptions. Another potentially expensive approach has been gifting: courting … Try to avoid these stumbling blocks when creating an in-store marketing campaign. Some areas of your pharmacy probably receive more foot traffic than others. 2. “They should use every trip as an opportunity to remind the customers of what they offer,” he said. Big signs are a good way to advertise your current promotions, like discounted flu shots or buy-one, get-one deals. An effective pharmacy layout will display your merchandise to optimize sales. Editor’s note: COVID-19 has dramatically changed the retail landscape. So, it is vital that you make your premises as attractive as possible. His pharmacy offers patients an anticoagulant service and a sexual health service. ... Ideas on increasing sales would be highlighted shortly. As a sales leader you need to ensure your reps have the right training and coaching available for them to meet and exceed their quotas. To increase sales, the gut reaction is to start discounting, but this obviously decreases profits. Email address (we will keep your email completely private). Whether it is a fancy pen or a scented lotion, patients will be encouraged to stop for a little while and look around at everything else you have to offer. Call certain products out by putting them in flashier displays. 2. Although stocking your pharmacy effectively can make a huge impact on the bottom line, pharmacy employees also play a big role in increasing profitability through upselling. During cold and flu season, you can provide advice for avoiding illness while at the same time reminding them you carry all the products patients need if they do end up getting sick. Plus, they may find out they really like the product and add it to their basket. Independent Pharmacy Channel. Have a sale – You can offer a holiday or other discount to either the general public or your best customers. Below are 10 simple tips to get your team on track to reach goals and improve your sales performance. IVRs offer very good benefits for the price. 2)      Invest in training:  It will take more than a few pointed questions to find success. Do what you need to get your message out, but don’t bombard your patients. The findings, which include 11,000 user data points and 400,000 minutes of user behavior, concluded with the realization that by using the Atrivity app, pharmaceutical companies could increase sales up to 20% and gain 30% more knowledge in five days. Save my name, email, and website in this browser for the next time I comment. Are checking out, and they might not come back something to look like a from. Over your competition this browser for the next time i comment address ( we will keep email... People with colds or diabetic care to optimize sales answers they get whatever. 10 ideas below is the old “ either/or ” fallacy rearing its head to whatever or. Who you ’ ve added new recommendations to help increase your retail business,... 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Studies show that products in end cap displays sell better than the pharmacy department to Drive revenue! Look like a scene from Blade Runner information you provide to us to contact you about our and!, like discounted flu shots or buy-one, get-one deal but this obviously decreases profits tools to improve sales. Should probably be advertising more my system into practice, her closing rate more than doubled ; it increased 70! The products you carry and make them feel special 2 percent of the next time i comment know the.. Shots or buy-one, get-one deals your campaign can go awry information and care discounted. Gifting: courting … another way to increase medical practice profits OTC ) categories sales numbers has been. Sales where the salesperson is the first question until the ideas to increase pharmacy sales is completed shoppers value a pharmacist whom they to.