There are several ways though which your pharmacy can interact with the customers in your local market. One of the most important thing which position you in your community is the branding. Branding is not just for the big chain pharmacies; branding in independent community pharmacies is more important that ever because Brand identity is fundamental to consumer recognition and symbolizes the brand’s differentiation from competitors.
What competitive edge do you have to offer?
Who are your customers?
What are their values, attitudes and mindset?
What another service you are capable of offering in order to make a successful business apart from the fierce price competition?
The continued expansion of strong pharmacy chains, e-pharmacies, supermarkets and discounters has led many community pharmacies across Europe to respond by entering an endless price battle that they are deemed to lose – Pricing is an important aspect of competition in retail pharmacy. However, focusing on price alone is not enough – finding your unique competitive niche to differentiate your pharmacy is what will ensure success and branding will help you identify the image you want to project.
If the statistics are to be believed, 80% of your revenues comes from 20% of your customers and adding clinical or aesthetic services to your pharmacy will help you develop a deeper relationship with your customers thereby improving the brand identity of your pharmacy and customer loyalty – Overall, branding is about creating a relationship with your customers.
The solution for your pharmacy to stay in the big boy’s competition is to develop your own unique identity in the local community you are serving. Pharmacy is essentially a local business which creates a good opportunity for individual brand identity concepts, usually focused around you who owns or manages the pharmacy.
While examining your brand identity think about the things you want your customers to say about you when they speak to others about your pharmacy. If your brand is more about caring, knowledge and deepening relationships, the patient will be much less motivated to seek out other pharmacies based on price alone. Trustworthy, patient-focused, part of the community, always treats patients with respect and take a time to get to know the customers – These are other powerful brand images that many pharmacists strive for.
In a service-based business model the identity of the pharmacist and how you translate your pharmacy for the local community being the most important element. The perception of quality lies in the mind of the local customers. So, if you build a powerful and quality environment in your pharmacy combined with a unique mix of products and services, you will succeed in creating a powerful brand that your customers feel connected with.
Pharmacy is no longer big-box, pharmacy is now a modern and appealing store with large glass fronts and sophisticated lighting which draws customers in. The clean cut, stylish and minimalistic layout portrays contemporary values of your pharmacy brand. The environment of pharmacy should represent the client’s mindset, catering their needs with a quick and convenient prescription service, as well as an attractive retail selection can result in the increased prescription volumes and FMCG sales.