12 tips for Pharmacy Chain Managers to increase sales
6 proven sales strategies for increasing the sales VALUE in pharmacy chains
1 Train sales staff in up-selling and cross-selling.
2 Introduce flash promotions as items are being purchased.
3 Create product packages and complementary services.
4 Raise prices and subsequently profit margins.
5 Change perception so that products are seen as more luxurious/prestigious.
6 Offer customers additional promotions and discounts on an increased minimum spend.
6 tried and tested strategies for increasing REPEAT PURCHASES
7 Develop or think about back-end products (products that you can offer a few days, weeks, or month after a sale) that you can go back to your customers with.
8 Communicate often and in a personalized manner with your customers (over the phone, newsletters, email) to maintain a good relationship.
9 Sponsor brand products that you have previously put on offer.
10 Create events such as “limited closed-door sales” and “pre-sales for special clients” etc.
11 Program your customers to repeat purchase.
12 Offer reductions based on how often your customers buy.
Even just one of these tips can significantly increase your sales.
Increasing: No. of clients x Transaction Value x Repeat Purchase rate is the ONLY way to increase earnings quickly and without structural intervention.
It’s a mathematical equation.
All you need to do is apply one of the techniques to increase these three factors by 10% and your earnings will increase not by 10% but by 33.1% and then they will exponentially increase further.
Small and frequent changes can bring huge results in the medium-term, “even though there are rumors of an economic crises in GCC countries”.
With the formula I have given you, you can win!