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As a coach in PCCA’s Compounding Pharmacy Management Services (CPMS), I have the opportunity to help a lot of independent compounding pharmacies expand their business. One of the many ways that they accomplish such growth is by developing clear marketing strategies and executing them through solid marketing plans. A marketing plan clearly outlines how you will reach your target audience by effectively implementing your strategy. With the right mix of activities, you can identify and focus on the most effective marketing tactics for your pharmacy. There’s no better time than the beginning of a new year to either begin your marketing plan or reassess and re-evaluate your marketing efforts. You can start by asking yourself a number of important questions: How are you targeting the appropriate audiences (patients, physicians, collaborative partners)? What services do you offer that solve specific problems? What makes you unique? What are your competitive advantages that set you apart from other pharmacies? The answers to these questions can give you crucial insight into how best to grow your business. To get you thinking about all of the different ways you can promote your pharmacy in 2019, here is a list of marketing ideas used by various compounding pharmacies I have coached.
• Revisit or start your market research. When was the last time that you identified all the prescribers in your market? Are there any new physicians? Is there new competition? • Write a unique selling proposition. A unique selling proposition is a statement that outlines how your business, product or service is different from your competition. It identifies what makes your business the better choice, and why your target clients should choose you over the competition • Refine your target audience and niche. How do you identify your audience? What tools can you use to identify and reach a broader audience? • Expand your product and service offerings. Can you add services (weight loss, nutrition, essential oils, consults, in-house seminars) to become more of a complete resource for your community?
• Update your business cards. Does your business card stand out from the rest? • Create or update your brochure. Create a digital version of your brochure for your website • Consider updating and redesigning your website. • Get creative with promotional products and give them away at networking events you attend
• Write an elevator pitch. How would you describe what you do in 30 seconds or less? • Make plans to attend at least one conference to develop your skills and network with other pharmacies • Introduce yourself to other local business owners (on-site visits, chamber of commerce) • Rent a booth at a local trade show or health fair
• Direct mail • Car stickers/magnets/wraps • Sidewalk signs to promote your specials • Radio advertising; regular talk show interviews (expert advice) • Local cable TV station advertising (ideal in smaller markets)
• Establish a presence on relevant social networks (Facebook, Instagram, YouTube, LinkedIn) by creating company pages and posting consistently • Advertise on Facebook, Instagram, Yelp, Google Places (Google Maps) • Start a Google AdWords pay-per-click campaign • Set up Google Analytics on your website and blog to measure and review your digital traffic statistics
• Create an email opt-in on your website or blog • Offer a free gift (non-prescription good or service) to encourage people to subscribe to your email list • Send regular emails to your list (free monthly email newsletter, product promotions, health tips), but don’t overwhelm your subscribers
• Start a contest in store and online • Create a coupon (non-copay related) • Create a "frequent buyer" rewards program • Start a client appreciation program • Give away a free sample (non-prescription items)
• Send out a customer satisfaction survey • Ask for referrals • Volunteer your time for a charity event • Sponsor a local sports team • Cross-promote your products and services with other local businesses • Join professional organizations (IACP, state pharmacy associations) • Develop a holiday promotion schedule • Send birthday cards to your patients and prescribers’ office personnel • Approach a colleague about a collaboration • Invite a practitioner to an event or conference
• Hire a search engine marketing firm • Enlist interns and technicians to help with daily marketing tasks
With 2019 right around the corner, now is the time to think critically about promoting your pharmacy. If PCCA members would like some one-on-one coaching about this and much more, contact us at CPMS to set up an appointment and get started. We can help you build a successful marketing plan to expand your business while you help people in your community. If you’re not a member, you can learn more about joining PCCA here.
Bryan Prescott, PharmD, is the Director of Management Coaching Services for PCCA’s Compounding Pharmacy Management Services.