The Importance of a Marketing Plan

In the simplest terms, the goal of a business is to sell a good or service to make a profit or help a person or group. In the case of a compounding pharmacy, practitioners and patients need to understand the benefits of customized medications and the services you provide. This is the basis of pharmacy marketing: sharing quality information in a clear helpful manner.

A marketing plan considers everything you have done and can do to market your business, what has been most effective, and considers potential touchpoints that will enable you to reach more people to grow your business.

Why do people call or visit your pharmacy for the first time? Perhaps they found you online and were impressed with the professionalism conveyed on your website, saw your advertisement, stopped by your booth at a health fair, or received your email newsletter via a friend or colleague. Or maybe they were intrigued by what they could see through your window, or information they read in a brochure they found in a doctor’s office or on their friend’s counter.

When developing a marketing plan, some of the initial questions you should consider include:

  1. Who are your customers?
  2. Who is your main competition? What marketing tactics are they using?
  3. How do you put your products or services into the hands of your customers? For example, a pharmacy may receive prescriptions from doctors, dentists, or veterinarians. This is an important step in reaching the end customer and a crucial area on which to focus your marketing efforts.
  4. What’s the most effective method to reach your customers? For example, are your customers online? (The answer to this question is YES). Then ask yourself, are you utilizing social media to communicate with your customers?

No matter the amount of your marketing budget, developing a good marketing plan and sticking to it will keep you focused on the long term goal, increase revenue and improve your return on investment.


Plan Ahead

Once you have answered the above questions, you can start by creating a plan for the upcoming year. Develop a calendar of marketing activities that will coordinate with community events, recognized awareness days/months, and seasonal needs. Although challenges can arise throughout the year, having a plan in place will give you a solid foundation when you need to react and adapt and enable you to review your results for a given period of time. Every year, you should review your marketing plan: What went well? What didn’t? What can you do better in the next year?

Some of the key marketing tools a pharmacy should utilize are their website, search engine optimization, social media, and print materials. The key is to remember that not everything has to be done at once. However, it’s never good to do nothing, or you will end up like the old adage of the man who stopped advertising then advertised his business for sale.
Now that you have a better idea of what your marketing plan should include, it’s important to find a marketing team that understands your goals and will work with you to achieve them. Storey Marketing will review your goals and strategy and work with you to develop a marketing plan that meets your budget and will promote your business online, in your community and in your pharmacy. To begin, call 814.337.3441 or email today!