When it comes to pharmacists and marketing, I often come across this common assumption that it's all a bit wishy-washy and tough to keep tabs on. Sure I get it – from the outside it might seem like all we do in marketing is whip up snappy captions for videos and scroll through social media. But you know what? What I get excited about in marketing is the data. Call me biased, but surrounded by accountants as I am, I believe that good data is the key to making solid decisions. So, today, I'm excited to dive into some analytics through different avenues that I think are crucial to track in a pharmacy setting from a marketing perspective. Let's get into it!
Website
Website Activity: When it comes to tracking website activity, one key metric I keep an eye on for my clients is their weekly and monthly traffic. This data provides valuable insights into how many individuals are exploring their pharmacy's online presence and potentially considering a visit soon.
Most Viewed Pages: Another aspect I find intriguing beyond just the homepage is examining the most viewed pages on their website. Understanding what content piques the interest of visitors over time allows us to identify opportunities for growth. For instance, if there's consistent traffic to the women's health section, I'd explore ways to expand this with relevant products, services, and content. As an exercise, I encourage you to peek at your own most visited page (aside from your homepage); you might be surprised.
Sources: Additionally, I make it a point to track the sources of website traffic. This reveals whether visitors arrive via direct links, such as a booking URL from a flyer, through referrals (i.e. From the Health Direct website) or social media platforms. This information is crucial for understanding how people discover the pharmacy's brand.
By pinpointing the channels that generate the most awareness, you can focus your efforts on the right direction for optimal results.
Social Media
When it comes to social media metrics, the one that often grabs everyone's attention is the number of likes or followers. Personally, I see this as more of a vanity metric. As it’s visible to others, so many people get caught up in the game of boosting those numbers. Don’t get me wrong, I do get excited when I see anyone hit over 1,000 followers however it really is an ego game. What truly matters are metrics such as engagement and reach.
Engagement: Engagement reflects the number of people actively interacting with your content by liking, sharing, and commenting. It signifies that they've taken the time to consume your content in some way and engage with it.
Reach: On the other hand, reach measures how far a particular post is extending into your audience. If your content resonates with the channel's audience and they engage with it, your post's reach can easily reach thousands. In fact, your post's reach can surpass your follower count and likes and that's why I focus on nurturing engagement and expanding reach – because they hold real potential for meaningful impact.
It's worth mentioning that I've collaborated with pharmacies boasting over 2,000 followers on platforms like Instagram and Facebook. Surprisingly, some smaller pharmacies with fewer than 500 followers have outperformed them in terms of engagement scores and post reach. Despite their smaller audience, these pharmacies have proven to be mighty in terms of engagement. It just goes to show that quality often trumps quantity, especially in certain social media scenarios.
Services
Pharmacies provide many services to their community and as a part of your process of rolling out these services, you should be strategic and consider how this is marketed to your patients. Commonly a promotional campaign is created, and you can gain insights into the effectiveness of your promotional campaigns by tracking the services analytics on a weekly and monthly basis.
Let's say you've launched an SMS campaign targeting flu vaccine bookings from the previous year, encourage them to rebook this year. Monitoring the analytics of this service campaign, you will find data through:
· A surge in the number of bookings.
· Glean insights from your website traffic - perhaps people are visiting your website specifically to book service appointments.
It's essential to monitor the results of this campaign to gauge its success and see whether you need to adopt different strategies.
Loyalty Members
In pharmacy, I've observed that the most effective methods for increasing revenue and service bookings are through SMS campaigns and Email Marketing. Unlike social media, where content is tailored based on user interactions, these channels offer greater control as they directly reach individuals' personal details. Therefore, expanding your reach through these channels hinges on growing your database.
That's why it's essential to monitor the weekly growth in loyalty membership numbers. Building your loyalty database is a numbers game and it is vital to continuously expand your community that will assist in regular repeat members at your store.
It's important to note that the excuse of people not having email addresses or phone numbers no longer holds weight. This is a common reason pharmacy owners hear from team members when it comes to signing people up for programs. The rule should be simple: if someone wants to join, they must provide these details; they cannot receive any rewards or promotions without doing so. Therefore, it's crucial to track the percentage of mobile and email addresses within your loyalty program. The target KPI should be 95% and above.
Monthly Performance
Marketing serves as a crucial tool for enhancing your pharmacy's bottom line. Hence, it's imperative to monitor your pharmacy's monthly performance to assess the effectiveness of your efforts. Key analytics to track include customer and script numbers, gross profit, and average basket size. This data is instrumental in determining the next steps for your marketing strategy.
When it comes to evaluating store performance and marketing initiatives, patience is essential. Introducing a marketing strategy doesn't always yield immediate results. As I often remind my clients, one email won't change the world! Therefore, when analysing these metrics, it's vital to recognise that results may take time to become visible. Your current efforts are laying the groundwork for the future success of your pharmacy. For instance, my clients typically start seeing significant results after consistently implementing a marketing plan for about 12 months.
As a pharmacist who's passionate about data, I urge you to carefully assess your pharmacy's marketing plan. It should be tracked and measured to ensure optimal use of your time and resources within your business. Once you begin to witness growth from your marketing, the sense of accomplishment is truly rewarding!
Marketing Alert
If you're unsure about where to begin, don't worry—I'm always here to lend a hand. Strategy is my specialty at Peak and I have three slots open for April and May. These sessions include a one-hour Zoom meeting to explore your marketing concepts, followed by an action plan tailored to your pharmacy's needs. Rest assured, my expertise is focused on pharmacy-centric solutions, ensuring they align with the needs of your patients and community. For inquiries about pricing, feel free to contact me via email at sarah.rendell@peakstrategies.com.au . Let's collaborate to enhance your pharmacy's marketing endeavors!