5 Ways to drive sales and increase revenue for retail-pharmacies
“How you sell matters. What your process is matters. But how your customer feels when they engage with you matters more.” — Tiffani Bova
As opposed to hospital pharmacies where pharmaceutical stores deal directly with hospitals as a corporate customer; retail-pharmacy target individual customers, hence earning the name ‘community pharmacy’. Its uniqueness also lies in the fact that competitors can easily spring up barely a few blocks away, thus managers must be strategic to scale-up sales and overall business growth.
Build your brand identity
Your identity is perceived and finally defined based on the overall atmosphere a prospective customer assumes when he/she comes in contact with your pharmacy. An eye-catching window or in-store display is a great way to attract attention and boost sales. Attention-grabbing signage that distinguishes your store from every other store is another great way to stand out. Your choice of interior layout should connote quality service, accessibility and any other value you want to communicate with your customers.
Focus on Customer Experience
Boasting about having a great customer service when a first-time buyer thinks otherwise is one of the pitfalls of many retail pharmacies. Invest in employees and pharmacists with great relationship skills. Another credible way to build exceptional customer experience is through loyalty schemes. Generally speaking, customers grow attuned with businesses that value them beyond a one-off quick sale. With ThankUCash, your customers can consistently have a memorable experience when they earn cashback each time they patronize your pharmacy.
Leverage customer data for marketing purposes
Data is the currency for an effective marketing strategy. What’s your customer demographics? What is their buying behaviour? When do they patronise your store? Armed with this information, you can launch a more personalized marketing plan to increase sales. ThankUCash provides you with a unique analytics dashboard that helps you answer all these questions in real-time.
Track your business processes and initiate better strategies
Understanding your current status is the first step to knowing what you’re doing wrong so that you can do it right, and see what you are doing well so that you can do it better. The ThankUCash analytics dashboard provides you with up-to-the-minute information on your sales growth and transactions. The software which is also available on a mobile app allows you to monitor when you have your highest footfall so that you can easily upsell or cross-sell during those peak periods.
Work with seasons/ outbreaks
Seasons in this context could be positive or negative. One good strategy is to launch a promotional offer on diet supplements during popular fasting periods. Find a way to key into special seasons to attract more sales and increase your revenue. In cases of a serious epidemic like the current coronavirus outbreak, show your customers you care by sharing health tips using conspicuous banners or danglers. Campaigns can also be launched using emails and SMS. ThankUCash loyalty solution allows you to gather customers personal information for promotional retargeting. Click here to register your pharmacy on ThankUCash today.
