3 Steps to Building your Compounding Pharmacy's Brand

Creating a successful pharmacy brand that resonates with people in your community goes beyond marketing and advertising.

Building a pharmacy brand entails 3 primary steps:

  1. Differentiating your pharmacy.
  2. Working to establish your credibility.
  3. Making your presence known.

Differentiation

Compounding is a good start because by definition a compounding pharmacy has multiple points of differentiation compared to a retail only or the larger chain pharmacies.

The larger chain pharmacies - I'm thinking CVS and Walgreens - are increasingly differentiating their businesses as convenience stores. And whilst this trend has been obvious for some time, they seem to be escalating the transition to convenience retailing. A good example is the newly refurbished Walgreens store near Union Square in San Francisco. This location has had a complete revamp

Unlike chain or retail only pharmacies, compounding pharmacies can combine multiple differentiators associated with community pharmacy and compounding to create your own unique selling proposition (USP) and patient experience.

differentiation such as personalized medicine, a category focus eg BHRT and a service element such as short wait times to create its unique selling proposition (USP) and patient experience.

You can also use words such as practice or wellness center instead of store to highlight the difference.

Credibility

Credibility is important to consumers today. They want to know that you’re a business they can trust. A great way to build your business’s credibility is to make yourself known as an industry expert. Some thoughts on how to do this:

  • Publish a blog post with health care tips for patients.
  • Offer professional advice to a local journalist or radio station about health-related topics, such as pain management.
  • Meet and educate physicians.
  • Hold free educational seminars or webinars.

Make Your Presence Known

Promoting your pharmacy is imperative to building a brand. Promotions refer to the entire set of activities which communicate your products, brand and services to potential patients.

Because you have a great business and patients trust you, they are likely to refer friends and family to your business. A patient referral program lets them know you appreciate the effort. Note please check your state board on the exact parameters acceptable in a program.

Make your presence known by nurturing partnerships with local physicians and other health care professionals. You can also boost your brand by attending local events.

Engage on social media: Rather than post cookie-cutter content, post content that will engage and educate people consistently. eg. monthly video of a selected customer giving her pet a compound. Or stream your BHRT seminar on Facebook.

Advertising helps your pharmacy establish its unique selling proposition with clarity, creativity and consistency to new audiences. There are lots of alternatives such TV, radio, billboards, newspaper, local search eg Yelp, keyword search eg Google and social advertising eg Facebook.

Digital Compounder specializes in social advertising for compounding pharmacies.


Interested in learning more about how social advertising can help your compounding pharmacy to target patients that can benefit from compounded medications such as BHRT, LDN or Veterinary? Please sign up for our mailing list.

Digital Compounder

Desmond Byrne

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