MASTER THE ART OF FREE Leverage Complimentary Services to Grow Your Pharmacy
We want to share a concept that might initially seem counterintuitive — getting rich by giving things away for free. Yes, you heard that right, and no, it’s not just a catchy phrase. It’s a strategy that, when executed correctly, can significantly boost your pharmacy’s growth and customer loyalty. Let’s explore the idea of free but done right. Consider the Super Bowl halftime performers. They don’t get paid for their performances, and often, they cover their own production costs. Crazy, right? But here’s the kicker: They make a fortune afterward through increased album sales,
community boards. Highlight the benefits and value of what you’re providing for free and ensure it resonates with your community’s needs. MEASURE SUCCESS AND ADAPT. It’s crucial to track the effectiveness of your free campaigns. Keep an eye on how many and who benefited from your free services or products return for a paid service or product. Are you seeing an increase in new prescriptions or sales of recommended supplements and over-the-counter products? This data will help you tweak your approach and focus on offers that convert the highest.
streaming, and concert tickets. That’s because they understand the value of back-end opportunities — leveraging the exposure for future gains. So, how can we apply this to our independent pharmacies? It’s all about finding the right back-end opportunities that can benefit from giving something away for free.
LEARN FROM THE EXPERTS. For a deeper dive into how you can maximize the benefits of giving things away for free, we highly recommend watching Dr. Lisa Faast’s presentation from the recent Pharmacy
STRATEGICALLY OFFER FREE SERVICES.
The first step is to identify what you can offer for free that won’t deplete your resources, but will pave the way
for profitable opportunities. This could be anything from a free health screening day to complimentary consultations or educational seminars on health management. The key is to target these free services toward potential high-value customers who will likely return and use more services. THE DEVIL IS IN THE DETAILS. Offering something for free can attract a crowd, but the real challenge lies in converting that crowd into loyal paying customers. This is where follow-up and follow-through come into play. After someone takes advantage of your free offering, have a system in place to keep them engaged. This could be through follow-up appointments, personalized emails, or special offers on services and products they showed interest in. CREATE A BUZZ. Just like halftime performers use their free platform to create buzz and draw attention, you can do the same. Advertise your free offerings on social media, local press, and
Profit Summit. She provides actionable insights and real-life examples demonstrating how independent pharmacies can implement these strategies effectively. You can find her presentation by scanning the QR code! When done thoughtfully, offering free services can be a powerful tool to grow your independent pharmacy. It’s about creating meaningful interactions that convert first-time visitors into loyal customers. So, go ahead, give a little for free, and watch how it can pay back in dividends.
Scan the QR code to check out Lisa’s recent presentation from Pharmacy Profit Summit!
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