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The Profit Vault February 2024
Gamify Your Pharmacy’s Sales A Winning Strategy to Increase Employee Motivation and Sales
So, you want your employees to boost OTC sales and increase your cash-based revenue? But... how can you motivate them? Make it fun. It’s as simple as that! One of the easiest ways to make selling products or reaching sales goals fun is to turn it into bingo. Do not underestimate the power of bingo and how it can push your team’s competitive side! Don’t worry, you won’t have to spend hours making bingo cards. We have a free resource you can use to easily create a bingo card customized to your pharmacy’s sales goals. Remember, you’re not the one talking to every patient, and if you want to ensure your team is motivated to promote different sales or products, you need to make it fun and easy. Bingo is perfect for this. How Pharmacy Bingo Works Of course, the fun part about bingo is that you have the chance to win something. This means prizes for your employees are mandatory. You can make them big or small, depending on how minor or significant their victory is. I recommend giving away prizes once a day or once a week to keep your team motivated consistently. This can be a $5 Starbucks gift card to whoever completes a row first or $100 to whoever finishes the entire sheet! It’s also important you ensure there’s more than one way to win. You don’t want your team to feel defeated if the only way to win is through a near-impossible goal. Offer prizes to the employee who achieved the most squares in a day, completed all four corners, made a complete diagonal line, and so on. Of course, this entirely depends on the size of your pharmacy, but the idea is that there should be multiple ways to win to keep your staff motivated. The easiest way to win can be awarded with a lower-cost reward, and the more complex or longer-term wins can be gifted the higher value prize. Whatever you give is up to you, and what you think will encourage your team to work harder each day. Remember, it needs to be fun! What to Include in Your Pharmacy’s Bingo So, now that you know how your pharmacy’s bingo game works, you need to pick the items and goals to include in
your bingo. I suggest focusing on products with better-than- average margins unique to your pharmacy. However, if you want to include plain ol’ Tylenol, that’s completely fine too! What you want to spotlight is entirely up to you, but ensure your bingo items bring you closer to your goals. Some items I recommend include:
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CofixRx
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AMS Nitric Oxide
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Nudora
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BoostNow
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A Romantic Twist to Elevate Your Valentine’s Day Offers The Sweet Smell of Sales Success
It’s the season of romance with Valentine’s Day near, and what better time to introduce a gift that’s perfect for everybody? Strategic product selection can significantly impact customer experience and overall sales; seasonal products are proof. Valentine’s Day, with its emphasis on love and gift-giving, is an excellent opportunity for you to enhance your offerings and boost profits. One unique avenue to explore is introducing a perfume line, such as Farma Fragrance, to your pharmacy’s product range. You want something that isn’t supplements, and we’ve found this fragrance line incredibly successful in pharmacies! Diversify Your Product Portfolio Adding a perfume line to your pharmacy’s inventory diversifies your product portfolio, making your store a one-stop shop for customers looking for more than just prescriptions but thoughtful Valentine’s Day gift, (or Mother’s Day, Father’s Day, birthdays, etc). Many customers come in looking for a more unique product or gift section, and this can be precisely what they’re searching for! Farma Fragrance, known for its high-quality and captivating scents, aligns perfectly with the romantic spirit of the season. Capitalize on the Gift Market Valentine’s Day is synonymous with gift-giving, and perfume is a classic seasonal gift. By offering Farma Fragrance, you cater to customers searching for a special, romantic gift with various scents that can match any fragrance preference. Create a Romantic In-Store Atmosphere Introducing a perfume line like Farma Fragrance allows you an opportunity to transform your pharmacy into a romantic haven. Set up dedicated displays with its elegant packaging and
enticing scents to create a visually appealing and immersive shopping experience. You can undoubtedly find red and pink heart decorations for cheap! Boost Impulse Purchases With its elegant packing, the allure of Farma Fragrances’ beautifully designed perfume and captivating scents can prompt countless impulse purchases. By strategically placing Farma Fragrance products near the checkout counter or in high-traffic areas, you increase the likelihood of customers adding a delightful and budget-friendly perfume to their Valentine’s Day shopping basket. Offer Customized Gift Sets Create an additional revenue stream by curating custom gift sets featuring Farma Fragrance products. Bundle perfumes with complementary items like body care, candles, or personalized cards. This enhances the perceived value of the gift and provides customers with convenient, ready-made options. Run Promotions and Discounts Attract customers with Valentine’s Day-themed promotions or discounts on Farma Fragrance products. Consider offering a “Buy One, Get One Half Off” deal or bundling multiple scents for a special price. These promotions drive sales and create a sense of urgency among customers. Emphasize Personal Touch Encourage customers to consider the personal touch of a chosen scent. Train your staff to guide customers in selecting a fragrance that suits the recipient’s personality and preferences. A personalized recommendation can turn a routine purchase into a memorable and meaningful gift. Drive Seasonal Traffic By featuring Farma Fragrance prominently in your Valentine’s Day promotions, you can attract new foot traffic and remind existing customers of your diverse product selection that separates you from the rest. Incorporating a perfume line like Farma Fragrance into your pharmacy’s Valentine’s Day offerings is a strategic decision that can elevate your business during the season of love. The benefits of introducing high-quality scents are countless, from diversifying your product range to creating a romantic in-store atmosphere. Contact Chirag Patel at ChiragPharm1@gmail.com to enhance your customers’ shopping experience and boost your pharmacy’s sales this Valentine’s Day, or visit FarmaFragrance.com .
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CARNATIONS WORK LIKE A CHARM EVERY TIME! How Free Flowers Can Create Lasting Impressions
Who doesn’t like flowers? With Valentine’s Day around the corner, complimentary carnations can be your ticket to a returning customer, new patient, or sought-after partner. If you’re wondering why I’m not suggesting roses, they cost more and will be harder to snag in bulk! I highly recommend you partner with a local florist to order bulk carnations for pennies and hand them out to patients, leads, and potential partners. You can negotiate discounts with your local florist by promoting them to your patients and customers for Valentine’s Day, year-round in-store, or on social media. In return, you get discounted carnations that can brighten someone’s day and leave a lasting impression. Make Their Day! At my pharmacy, I would give every woman, young or old, who walked through our doors a carnation during Valentine’s Week. Why women? Not only were they our most prominent clientele, but they were sure to be flattered and moved by the gesture.
Our team would wish them a happy Valentine’s Day and to have a great day. That’s all it takes! This action alone can quickly make a lasting, emotionally positive impression for your pharmacy.
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TAKE A BREAK
AQUARIUS CANDY CUPID GROUNDHOG
HEART LINCOLN CHOCOLATE PENNSYLVANIA
PHIL PRESIDENTS VALENTINE WINTER
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Have a Competitive Edge With These Allergy Products POLLEN IS COMING!
It’s not too early to prepare for spring and its dreaded allergies. Runny noses, sneezing, and itchy eyes will have people running to their nearby pharmacy, and you want to offer them something more unique than just regular OTC allergy medicine. Instead, help your patients get to the root of the issue and reduce allergies, not just mask their symptoms. If you can do that, you won’t just improve your cash-based sales, you’ll win over a customer for life! We recommend two specific products to make this happen: EleviateMed CBD Nasal Rinse It’s common to suffer from a sinus infection due to allergies, and many people have to deal with chronic sinuses all month. The EleviateMed CBD Nasal Rinse can help anyone dealing with short- and long-term sinus discomfort. Unlike other nasal rinses, this product is the first to combine saline nasal rinses with topical cannabidiol. Talk about a product that will set you apart from other pharmacies! And the best part? The company only sells to independent pharmacies, and DiversifyRx members can get a significant discount. To learn more about EleviateMed and its products, head to EleviateMed.com , and be sure to check out using the discount code “wholesale-diversifyrx” to save money on your order!
our members! We have partnered with Wyndly and Dr. Manan Shah to bring this service to independent pharmacies like yours.
The minimum order is five kits at $30 each, so your total investment is just $150 to get started. To learn more about Dr. Manan Shah’s program, scan the QR code below to watch his helpful video! Watch Dr. Manan’s introduction video on Wyndly’s services and treatment for more information on the program. You can also contact him for additional details at Manan@wyndly.com This spring, your independent pharmacy can stand out by providing distinct allergy solutions beyond symptom relief and addressing the root cause. It shows you care. It shows you’re not just hoping they’ll return to buy another bottle of ceterizine but that you want them to find lasting relief. You’re elevating your pharmacy’s quality standard by offering specialized products with long-term results while boosting your cash-based revenue. Patients seeking effective and permanent solutions will be drawn to pharmacies like yours that prioritize comprehensive allergy care over temporary relief. You’re fostering customer loyalty, positioning your independent pharmacy as a leader in innovative health care solutions, and setting yourself apart in a competitive market.
Wyndly Testing and Sublingual Allergy Treatment
Wyndly offers a whole new way to tackle allergies, especially for those who feel they’re affecting their quality of life. This company offers no-needle-required allergy testing kits and sublingual immunotherapy and easy-to-do finger prick allergy testing. Wyndly helps patients alter their immune systems to address the root cause of allergies permanently rather than temporarily alleviate symptoms. Many patients notice positive changes in as little as a month! Through our exclusive program, you can sell the testing kits in your pharmacy and earn $50 per test and give your patients access to affordable, non-injection allergy treatments that eliminate their allergies, not just mask symptoms. Dr. Manan Shah owns Wyndly and is a board-certified allergy physician, bringing this unique testing to pharmacies. Fortunately, it’s only available to
Scan the QR code to check out the video about Wyndly’s services and treatments!
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Time is running out PHARMACY SUMMIT 2024
This is it! Your last opportunity to be a part of the Pharmacy Profit Summit 2024.
Use Your Exclusive Members ONLY Discount!
UNLIMITED MEMBERS: 1 FREE TICKET
INNER CIRCLE MEMBERS: 2 FREE TICKET
Scan Member Link!
SECURE YOUR SEAT NOW!
March 10-11, 2024
pharmacyprofitsummit.com/2024-member Dallas, Texas
info@diversifyrx.com
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All Of Your Member-Only Content Now Available In Audio Formats
Listen On-The-Go, From Your Phone, or Anywhere! To Gain Access: 1.Log into the membership 2.Click on radio link at the top 3.Select what show to subscribe to 4.Scan the QR code or click the invite link 5.Enter your email address 6.Open the email on your preferred device 7.Add the podcast to your favorite player 8.Enjoy listening
Available For Essentials & Up Levels of Membership
From Bankruptcy to Global Recognition HOW DANNA PRATTE BECAME A LEADER IN HEALTH AND WELLNESS
Dale Carnegie once said, “Develop success from failures. Discouragement and failure are two of the surest stepping stones to success.” To be sure, failure is always challenging, especially in business. In any business venture, you spend money, passion, time, and energy. As a result, failure can feel overwhelming. Fortunately, countless success stories can inspire and shape your business ambitions. One example is the story of Danna Pratte. Pratte is the CEO of the global supplement company NBPure and one of the co- founders of The Candidly. When she acquired NBPure in the early 2000s, it was struggling and on the verge of bankruptcy, but Pratte knew the wellness industry was about to take off and, through hard work, brought the company back from the brink of bankruptcy. Born in the small town of Mansfield, Texas, Pratte’s childhood made her passionate about nutrition later in life. She was an obese child and was constantly bullied. After persevering through this abuse, she was able to make it to college, where she dedicated her life to learning more about nutrition and pursuing a healthy lifestyle. Once she had completed her master’s in international management, Pratte searched for opportunities in the health and wellness industry and quickly found her niche. Most supplement companies at the time were using filler ingredients. This lowered the quality of the supplements and, in many cases, negatively affected profit margins.
When she first got involved with NBPure, they were having trouble making a name for themselves. So, in revamping the company, which was operating on razor-thin margins, Pratte set out to use only pure ingredients, making her an innovator and disrupting the male-dominated industry. Using her business acumen, Pratte slowly brought the company back from the edge by digging into her personal experiences and passion for wellness. Now, this formerly unknown company is a multimillion-dollar juggernaut and one of the largest female-run companies in the health and wellness industry. Pratte states her company’s mission as follows: “We’re giving our customers the best product they can take for whatever they need it for.” After bringing NBPure back to profitability and success, Pratte co-founded The Candidly. This brand focuses on women who can’t find satisfaction with other health and wellness brands available. Finding another niche, Pratte aimed at helping these disillusioned women, ages 35 and up, find a company dedicated to their wellness needs, one that listens to and delivers on what they want and expect from a wellness brand. Thanks to her success and hard work, Pratte has learned some valuable lessons, which she has distilled into three pieces of advice that will help anyone on their journey toward business success: No. 1: Always value yourself and your health. You need to be at your best to do your best. As the adage goes, if you don’t have your health, you don’t have anything.
No. 2: Make your work ethic a priority. This helps establish a pattern to persevere when things are difficult.
No. 3: Ensure you invest your time and energy in yourself and those who believe in you. Having the right team members and cheerleaders makes all the difference. This is especially true on difficult days when things look bleak. Like Pratte, you can transform your passion, personal experiences, and failures into a vibrant and viable business. Don’t let failure hold you back. To paraphrase the great Dale Carnegie, use your losses as stepping stones to your success. Keep trying, and you can reach all your goals, both personally and professionally.
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the following week. Some people jump at the chance to choose their preferred days and times, which doesn’t cost you anything! However, a schedule change might not be the most effective choice if you have a smaller cashier staff. The world is your oyster! Movie tickets are a great option as you can get them cheap, but it’s often an expense many wouldn’t pay for themselves. But as a free prize? They’ll take it! If you’re ready to create your own bingo card, you can scan the QR code to the left to head to a bingo generator website to help you create your customized bingo for free! If you’d like more guidance on successfully introducing this game to your
Each month’s bingo card doesn’t have to be the same as the next! You can make a new bingo card monthly with an all-new set of products, services, and goals. Seasonal bingo is also a great way to include your pharmacy’s seasonal promotions and objectives. Bingo Prizes Don’t Need to Cost a Fortune The best prizes don’t cost you any money at all. For competitive teams, sometimes bragging rights can be enough to boost their sales performance. Make a leaderboard so your staff can see who’s ahead of the rest, and let the games begin! Of course, other rewards should also be involved, but these don’t have to be gift cards or a stack of cash. One giveaway I had while aiming to increase OTC sales was that whoever won the bingo game first could pick their schedule for
team, you can call our coaches to give you that extra support you need. Have fun!
Scan the QR code to customize your own bingo card!
HAVE A LAUGH
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How to Create Compounding Success Elevate Your Compounding Pharmacy With These 5 Tactics
Leverage Coupons Entice both prescribers and patients with strategic coupon offerings. Consider “Buy 2, Get 1 Free” promotions, free trials for hesitant patients, or specialized BHRT trials. • Buy 2, Get 1 Free: For example, a patient can buy two months and get one month free. Another is that they can buy two units and get one unit free. Who doesn’t love free? • Free Trial: Offering a free trial of a compound can be huge. Patients often hesitate to try a compound because they don’t know if it will work, and the trial can be what they need to get started. However, some states don’t allow free prescriptions. If you are in a state with that rule, you can do a coupon for $1. • BHRT Trial: This trial can be 90 days of free hormones in exchange for patients completing their symptom questionnaire and working with you to adjust their dosing. You should get them feeling great within 90 days, so they never want to go off their hormones. Start a Referral Program Implement a patient referral program that rewards loyal customers for bringing in new business. The best part? You don’t have to pay any money until it works. You can offer credits or discounts for successful referrals, creating a win-win scenario that boosts customer engagement and expands your customer base. Even the simplest referral program can bring the greatest returns! Ask for More Business! Do not underestimate the power of a direct ask. Remind prescribers and patients that your compounding services are ready, available, and looking for more business! Encourage your team to communicate with prescribers, letting them know you have the capacity for more prescriptions and are eager to assist their patients with specialized compounding needs. You’d be surprised how well honesty works. Whether you’re a seasoned compounding professional or just starting, implementing these tips can propel your compounding pharmacy to new heights. If you’d like additional support for growing your compounding pharmacy, our coaches are here for you. Head to your member dashboard to schedule a one-on-one call with one of our expert coaches. We want to see you and your pharmacy succeed!
If you offer compounding at your pharmacy, you’ll always need new tricks to boost business and grow your customer base. Compounding is a realm of boundless potential, offering personalized solutions to your patients’ unique health care needs. It also brings you cash revenue! As an independent pharmacy owner, increasing your patient list should always be a goal at the forefront of your mind. Fortunately, we have five proven strategies to help you expand your compounding pharmacy and bring in continuous growth. Post a Video Every Day Compounding might be a boring task for you, but it can be captivating content for patients! Video content is a potent tool that can demystify the compounding process for your audience, who likely have never seen the process before. Regularly share short videos showcasing the artistry of compounding on social media and see how it can hypnotize viewers.
These glimpses into your pharmacy’s daily operations can captivate potential customers, stop them from scrolling, and make your pharmacy the go-to place for compounding prescriptions. All you need is a short video filming the process; no narration required! Use Compounding Bookmarks Create customized compounding bookmarks for prescribers, offering a quick reference guide to various compounds and their prescriptions. These eye-catching tools simplify the prescribing process, making it easy for health care professionals to integrate compounding into their practice. You want to make the prescription process as easy as possible so they can confidently make these prescriptions (for your pharmacy) more often. If you want to download your customizable compounding bookmark template, scan the QR code to the right!
Scan the QR code to customize your own compounding bookmarks!
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417 Ravenaux Dr. Southlake, TX 76092 561-379-7750 DiversifyRx.com
INSIDE THIS ISSUE
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Boost Your Pharmacy’s OTC Sales With Bingo! 2 Elevate Your Pharmacy’s Valentine’s Day Sales With Fragrance Delights 3 Turn Small Gestures Into Big Wins This Valentine’s Day 4 Breakthrough Allergy Solutions to Set You Apart 5 A Business Leader Who Persevered 7 5 Proven Strategies to Skyrocket Your Compound Pharmacy’s Growth
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Visit Businesses and Build Bonds When you look at marketing your pharmacy to potential local partners, it can be difficult to take the time to visit other businesses and introduce yourself. It can be even more challenging when you know people don’t usually want to talk with a marketing salesperson. However, you change the dynamic entirely if you come in with flowers. You start on the right foot and immediately have the carnations as an icebreaker to get your foot in the door. Do you want to work with a particular doctor? The carnations always work! Another way you can utilize the power of flowers is by giving them to your desired clientele. As a pharmacy owner, I wanted more teachers to come to my store because of their specific insurance plan. So, while I couldn’t necessarily go into any school and hand out flowers in the classrooms, I could put a card with each flower and leave them in the teachers’ lounge area. The card would detail our Valentine’s Day wishes and introduce our pharmacy to them. You’d be surprised how well this tactic works! Small (Inexpensive) Gesture, Big Impact While carnations work wonders on Valentine’s Day, any small and inexpensive gesture year-round can make the impression
you need to win over patients and partners alike. Giving free flowers on Valentine’s Day or any other complimentary gift creates a memorable experience for people, leaving a lasting impact on their perception of your pharmacy.
Word-of-mouth promotion often follows as they share their positive experiences with friends and family, extending your
pharmacy’s reach organically and even online through social media! This simple yet thoughtful gesture humanizes your business, making it relatable, approachable, and local. A small but kind gesture builds community around your pharmacy, encouraging a sense of connection in your neighborhood. What more can a local independent pharmacy ask for from a few flowers? In the long run, these small investments can lead to customer retention and business growth, showcasing the profound impact of spreading joy within your community. The best part is it doesn’t cost a fortune, and you won’t break a sweat!
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