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INSIDE THIS ISSUE
1
Go-To Guide to Generate Referrals
2 Why Your Email Marketing Subject Lines Matter 2 Make Chain Pharmacies Turn to You 3 The Journey to Pharmacy Badass University 3 Have a Laugh + Take A Break 4 Rebranding: Are You ‘Starry’-Eyed?
Rebranding the Right Way DON’T BE ‘STARRY’-EYED ABOUT YOUR STRATEGY
In early 2023, Pepsi shocked the public by rebranding its lemon-lime soda Sierra Mist as Starry. The move has raised eyebrows and spawned jokes. Rebranding is always tricky and can open you up to the wrong kind of attention. So, if you’re considering it for your pharmacy, how do you ensure you get the right reactions? Companies rebrand for many reasons. Many do so after flagging sales to revitalize interest or reach a new market. Others rebrand to reflect a significant change in the business, like a shift in products or services. If you add compounding or a functional wellness clinic, it may be a good idea to rebrand somehow.
your pharmacy’s identity and overall strategy for the future.
Since rebranding is a big undertaking, every pharmacy owner should evaluate their reasons for wanting to rebrand before making the leap. Simply “feeling” like it’s time for a change is insufficient. Ask what you hope to accomplish, then consider whether you need to rebrand to achieve it. Your brand may just need a “facelift” with a tweaked logo, new company colors, or a refreshed social media presence. If you’re committed to rebranding, do it with clear eyes and an awareness of how your efforts could go wrong. One famous example was Tropicana (also owned by PepsiCo) in 2009. The company replaced its instantly recognizable image of a straw in an orange with a generic picture of a
glass of orange juice. Consumers felt it cheapened the product — and some even had trouble finding it. Tropicana quickly switched back to its old packaging, but it was a $50 million mistake. Rebranding is a balancing act between refreshing your image and retaining the elements that made your pharmacy successful in the first place. Pharmacy owners should know it’s essential to understand their current customer base and target market. Otherwise, you could alienate both — and all your money, time, and effort could fall flat.
Rebranding can be a new company name, updated logo, or website. It’s about
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