10 Jul Analyzing customer behaviour in the pharmacy to increase customer volumes and profits
Analyzing customer behaviour in the pharmacy to increase customer volumes and profits
The main objective of this article is to motivate pharmacists to invest in measurable solutions because it’s the only way to prosper in today’s market, no matter which company you use.
Allow me to give you an example:
Would you invest €100.000 in shares or funds, and check at the end of the year if you have gained or lost money?
What is more likely is that if you’re an investor, you’re used to checking on your investments daily or weekly. You keep your ear to the ground so you can get into profitable situations and get out of fishy ones in the nick of time.
This is the only way you can make the most profit and limit any risks. Right?
If you agree with me up to here, then ask yourself why you keep trusting in things that you are essentially being sold:
▪️ Training Courses
▪️ Automation tools
▪️ Online presence
…waiting, at the end, for when they write to you asking if it worked and if you benefited from the service?
Do you think it’s normal to invest in something just because:
▪️ Everyone has it
▪️ Lots of people do it
▪️ A friend, relative or colleague suggested it
▪️ It’s something new
▪️ The vendor told you it would work
▪️ It has tax benefits
▪️ It’s popular
Wouldn’t it be better to periodically review how much your investment is objectively returning? …that potential clients have come in the store? …that sales really have increased?
If you don’t do this then it’s obvious that you’ll never really know with precision what channels to concentrate on, update or abandon.
Even today, pharmacy owners find themselves in this dire situation because they don’t have a scientific method of analyzing customer behaviour. They don’t ensure that their initiatives in the pharmacy (their physical marketing) are measurable.
If you’re taking the trouble to measure and track the results of each marketing channel you use (Physical in your store and Digital if you have already started using digital media to inform, attract and retain customers), then you can’t really consider yourself as a true entrepreneur in the true sense of the word.
You make bets, just like people who go to the races, hoping and praying they’ll win.
I am not saying this is your fault! Particularly in Italy, not only is there no marketing culture among entrepreneurs, but the offer is very low quality.
Think about it! Instead of blindly paying lots of consultants who cannot guarantee the financial gains that the investment they want you to make will bring, it would be wise to start thinking about transforming yourself into what you should be: “An entrepreneurial pharmacist, a marketing and sales expert who can read a budget”.
IF all the experts are offended because they think you should “stick to being a pharmacist” or “everyone does their own job”, that’s their problem!
Put simply: if you don’t currently have a method to make all of your initiatives measurable, why are you investing money into them? Honestly, if you think about it, it’s absurd.
Now you have free resources (like this report) to help you understand what you have to do. From now on your future really is in your hands. You don’t have to make excuses any more.
You can take control of your pharmacy business!
I don’t want to see you spending money on activities that are only wasting your money, and until proved otherwise, without a positive return on the investment. Seeing as I doubt you are a charity, or enjoy throwing money down the drain, it might be the case to have that proof, and make your marketing measurable.
How can we make your marketing measurable and your results trackable to monitor the ROI of every single thing you do, and allow you to feel at home in the marketing field?
Today the right tools are available to help you scientifically analyze the market potential of a pharmacy in order to get answers to questions like:
▪️ How many people walk past your pharmacy window every day?
▪️ How many are in their car and how many are on foot?
▪️ Out of these people, how many come in to buy something?
▪️ How many come back?
▪️ Do you have more female or male customers?
▪️ How old are they?
▪️ How do they navigate through the pharmacy once they enter?
▪️ Roughly how long do they spend in the pharmacy?
▪️ Are they on their own?
▪️ What time of day or year do you have the most customers?
▪️ When are there the biggest queues at the cash register?
I’m not just talking about the people that come into your pharmacy, but about all the people who walk and drive past. You could get them to come in and make purchases!
I’m not talking about market research, I’m talking about your market, your customers, the people who already come into your store, they already know you, which is why you should be committed to carry out analysis so that you don’t lose them by giving them better service every day. They are the first people you should analyze!
A new chapter opens for Italian pharmacies who today can finally analyze their business strategies.
The era of the measurable pharmacy begins.
You cannot leave your business to gut feeling. Having the numbers and analyzing them means being able to plan!
It’s a great competitive advantage on businesses who play it by ear and improvise.
If you’re thinking something along the lines of: “I know exactly who comes into my pharmacy!” … I don’t doubt that, but what I’m asking you is: do you also know who doesn’t come in and why? By how much could you multiply your business if you had the right information, if you had answers based on scientific fact, realistic numbers, long before your competitors?
Shop-trekking or Shop Analytics is the system that is used by the world’s largest chains to analyze client information and monitor their behaviour both inside the shop and out. Pharmacy Analytics™ is a new technology, already available, that combines special cameras and cloud software for behavioural analysis of consumers in the pharmacy to understand their needs. Tiffany, Tommy Hilfiger, Sephora, to name a few, have been using this in their stores for 2-3 years now to improve their sales offer…and increase sales.
This is completely legal, also in Italy, due to the fact that the images captured by the cameras are never saved.
We would also want the ability to do A/B testing: trying two things, measuring and comparing the results, and deciding on which one to pursue.
Measuring public response to your initiatives should be every pharmacists’ priority in order to improve the buying experience, build the customer’s trust and multiply your profits.
Want to know more?
Click after the arrow for more information => www.pharmacy-analytics.com