(Newswire.net — June 12, 2017) — Running an independent pharmacy can be very satisfying on a personal level, because pharmacists and their teams are, perhaps now more than ever, given rising healthcare costs and reduced insurance benefits, critically important staples of the community. Indeed, it is not uncommon for customers to have as close and meaningful a relationship with their pharmacist as they do with any other member of their healthcare team, including their GP. That’s the good news.
As pharmacy industry experts point out, however, the bad news is that many independent pharmacies run on thin profit margins, which means that owners must constantly focus on ways to control costs, while maintaining quality and service levels.
If you find yourself in this situation, or if you are thinking of launching an independent pharmacy and want to ensure that the experience is both personally and financially rewarding, here are three tips to keep in mind.
1. Upsell without Upselling
Naturally, you do not want to push products and services — because doing so is not just bad manners, but it is bad business. However, you can certainly encourage customers to purchase more than the bare minimum; not because it boosts your revenues, but because it authentically and transparently could be in their best interest to do so.
For example, you can educate customers about private label products that will allow them to save money, suggest supplements or complimentary, invite them to join your loyalty club and/or sign-up for your email newsletter, and so on.
2. Use a Mobile Point-of-Sale System
According to Retail Management Solutions, which specializes in delivering point-of-sale (POS) solutions for pharmacies, long lines are the biggest source of customer frustration in pharmacy retail environment — even more than limited product selection or relatively higher prices. In fact, one of the reasons that many customers choose independent pharmacies is precisely to avoid long lines at big chain pharmacies. A mobile POS system basically creates a second (or third or fourth…) payment card register. And since it is mobile, it can be moved around the pharmacy to engage customers so they avoid the line completely.
3. Train Staff to Provide a Consultative Sales Process
Borrow a profitable page from the B2B sales playbook, and train your team to provide a consultative sales process, which essentially means they never answer a question with “I don’t know.” This is not to suggest that they invent or guess an answer. Rather, it means that they take ownership of a customer inquiry, and either find the answer immediately from a colleague (or by making a call, checking online, etc.), or they follow-up with the customer as soon as possible by email, text, phone, etc.
At the same time, staff should be aware that while each customer is equally important, they are not all part of the same group or category. For example, a soon-to-be first-time mom needs a different type of engagement vs. a busy executive who needs a quick prescription refill.
The Bottom Line
While running an independent pharmacy is hard work, it can and should be a “labor of love” that is rewarding both on a personal and professional level. The tips above go a long way towards ensuring that you experience and enjoy both, which is not just beneficial for you and your staff, but just as importantly, for your customers and community.