We have dealt with the subject of how you can start a pharmacy business. You can kindly check out the article to learn more. Looking around most central business districts, you will notice a trend. Over the last couple of years, numerous pharmacies have popped up. They keep popping up. There is an inexhaustible market for the pharmacy business in Zimbabwe. It is a business idea worth pursuing if you are keen on it. There is now notable competition amongst pharmacies, given their rising number. Let us discuss some secrets to success for the pharmacy business.
Have An Active Online Presence
At the most basic, your pharmacy business must have an active and up-to-date website. Next up, you must have social media accounts – active and engaging. Have a dedicated WhatsApp Business contact. Your mobile business contact must be attached to a WhatsApp Business account. As in, the WhatsApp Business version is what you must use. It has specialized features to take advantage of. Do not forget to incorporate the use of chatbots. Come up with a solid digital marketing plan.
This entails content marketing, email marketing, and influencer marketing. I would be thrilled if I were to conduct social media management for a pharmacy. This is because content ideas for a pharmacy are limitless. This active online presence will open doors for your pharmacy business. I know some pharmacies have zero online presence. You probably may be comfortable with the revenues you are getting whilst offline. Yet you may be oblivious to the business growth you are missing out on. Many pharmacies in Zimbabwe need to wake up to this reality.
Leverage Online Payment Gateways
Zimbabwe is a peculiar context, especially owing to its monetary and fiscal dynamics. The economy is mercurial, and many local Zimbabweans depend on their loved ones in the diaspora. This means you would want to tap into that market as a pharmacy in Zimbabwe. Diasporans can comfortably make VISA or MasterCard payments for their loved ones’ pharmaceutical needs here in Zimbabwe.
As a pharmacy, you must position yourself rightly by integrating your website with an online payment gateway. This assumes that you have a website; which you ought to have after all. Many pharmacies have yet to think in this direction. However, this is a sure way to succeed in this digital age. Paynow Zimbabwe is a perfect example of an online payment gateway you can get integrated into your pharmacy website.
Establish The Right And Strategic Relationships
Potential customers for any pharmacy come from various medical facilities around the country. Logic would imply that it is strategic to establish linkages with service providers where potential customers come from. This is not to say that you should institute some gatekeeping, no. It should simply be to establish strategic partnerships, joint ventures, or alliances. Remember as well that business is not always about competition. The other angle is that of collaboration. This means you should also explore ways to collaborate with other pharmacies. If you know a pharmacy with what you do not have, refer people to them.
Then they can also do the same for you. Such working arrangements can lead to a positive brand image, boosting revenue and profits. Recall the influencer marketing I mentioned on digital marketing. That can only excel if you partner with strategic influencers. It is all about formulating strategic relationships. The same goes for the supplier side. Seamless procurements, flexible payment terms, and efficient inventory control are all borne out of having the right relationships.
Throw In Freebies And Other Alluring Add-Ons
It is human nature to like freebies and convenience. There are many things you can provide in your pharmacy as freebies. You can do this as part of the customer experience. For instance, you can provide sweets or snacks for customers – low-cost, of course. You can provide even basic drinking water. You can give freebies as a result of contests you can devise. Such contests can be in-store, or you can run them online. It is more engaging to run them online, actually; no wonder being actively online is paramount. Then, on add-ons again, that can be anything. For instance, you can provide free scans for blood pressure; weight checks, and the like. The combined effect of freebies and add-ons enhances repeat purchases and lead generation.
Incentivise And Reward Customer Loyalty
Most customers who buy from pharmacies are typically bound to make repeat purchases. You have to prime them for customer loyalty. This is a loaded strategy because it hits several birds with one stone. First off, a customer loyalty program inevitably entails customer data collection. This also extends to keeping tabs on customer buying habits. All this data will provide insights to help you make evidence-based decisions. Customer loyalty on its own does feed into word of mouth. You can even devise it so that it involves word of mouth. How you want to frame the customer loyalty program is up to you. The core thing is to make it cost-effective so that there will be definite returns on investment.
Second, last but not least is pricing. It is commonplace for some pharmacies to profiteer. This implies that they can adjust prices downwards and still realize good profits. A pharmacy often has room to play around with prices to appeal more to customers. If there is room to do that, you should consider it highly. This will culminate in your pharmacy pushing volumes. Finally, make your product and service range broad and diverse while at it. With these seven focuses, you can guarantee the perpetual success of a pharmacy business in Zimbabwe.
