How Marketing Agencies Can Help Pharmacies

Maximizing profits in your pharmacy means putting yourself out there with marketing that speaks to your customers, community, and target demographics. 

Marketing is a business necessity. At its core, marketing is a primary way for you to reach new audiences and grow your customer base. As a bonus, marketing offers an opportunity for you to have some fun while keeping your customers engaged between visits.

But marketing isn't in everyone's comfort-zone. Or, it might be something you want to do, but just don't have the time to commit to building out materials and keeping your website up to date. And that's okay. It's also why third-party marketing agencies exist. 

This month on CLIMB, Emily Cannata and Lisa Baker returned for another pharmacy marketing-focused conversation. They were joined by special guest Kelly Bailey, Vice President of GRX Marketing, to explore what marketing agencies are, and how they can help pharmacies with their marketing efforts. You can catch the session here or read on for a breakdown of what was discussed.

Bite-Sized Is Best

The biggest takeaway from our previous marketing session in March (which you can watch here) was to set bite-sized, actionable goals. Start with one thing and do that thing really well before moving on to the next. This holds true for adopting a relationship with a marketing agency. If you throw everything at the wall at once, you won't know what's really sticking and making a difference.

Determine Your Level of Involvement

A good marketing agency will let you define how involved you want to be. From having your marketing agency do it all, to having them act mostly as consultants, and everything in between. There's no single approach that wins over another, but Kelly notes that it's great to work with pharmacy owners who like to retain some level of involvement. You can also designate team members to help out. Your level of involvement may also hinge on budget, which could change over time, too. Communicate your needs and wants clearly for best results. 

Data-Driven Decisions

Like so many other things in pharmacy, good marketing relies on data. Data should inform both the start or enhancement of any marketing initiatives, as well as guide your path and help you learn from every marketing effort thereon. That way, you can adapt and change based on real numbers, and understand if you are seeing a return on investment from your marketing spend. Make sure you understand the data your marketing agency will need, are able to access it (likely through your pharmacy POS system, as that's what tracks everything that's being sold in your pharmacy), and are making plans to regularly track changes. Know where you started, where you are, and where you want to be!

Customization Is Key

We've said this before, but there really is no one-size-fits-all approach when it comes to marketing - especially in the pharmacy industry. What works for your pharmacy will not necessary work for the next. An important step in building your relationship with a marketing company is establishing your biggest pain points and what your overall goals are with hiring them. A good marketing team will know better than to come in with a preset plan that doesn't take these factors into account. This is where working with a company that specializes in independent pharmacy marketing can really make all the difference. They will understand the nuances and intricacies of this industry and will know how to take your input and design a plan that works exactly for your needs.

Maximizing Your Investment

Hiring a marketing company is not cheap, but we like to think of it as an investment. And with any investment, maximizing your ROI is key. One way to do this is to ensure you're providing them with everything they need to develop the most successful marketing strategy for you as possible. This includes access to your social media accounts, logo files, and any marketing history. As noted above, you also need to make sure you have a way to access relevant data and are providing that to your agency as needed. Keep in mind that the more you put in, the more you get out. The more you're able to provide to your agency, the better your results will be!

About Marketing Agencies

There are a lot of marketing agencies out there for you to choose from. For this panel, we got some inside tips from a highly recommended company known for working with independent pharmacies. GRX Marketing has been exclusively serving the independent pharmacy community for over 10 years. You can learn more about GRX Marketing here or share your favorite marketing agency below to help others learn more about available options.