Reduce Customer Churn and Increase Pharmacy Revenue in 6 Guaranteed Steps

Customer churn is a measure of the number of people that leave your business over a given time period. Non returning customers are a major headache for every business. This is because businesses understand that customer retention is a significant driver for revenue. Failing at it means you’re losing out on considerable revenue.

A KPMG report looking at retail revenue drivers in the U.S lends credence to this.

Most significant retail revenue drivers

 

The figures above are even starker when you consider how difficult and expensive it is to acquire new customers. This makes investing in reducing churn and increasing customer retention an even more worthwhile enterprise.

Read our previous related post: 5 tips for maintaining loyalty in community pharmacy

The good news in the pharmacy business is that reducing churn is an easier exercise than the average retailer. How so? As a pharmacist you have a cohort of clients you can reliably predict will continue to need your service for the foreseeable future. This includes patients with chronic conditions such as:

  • Diabetes
  • Hypertension
  • Arthritis

Clients that patronize you on account of these conditions should never churn. They should have no reason to leave you seeing as they will likely need to purchase their drugs for life. If they do leave, you really only have yourself to blame. So to help you avoid blame and regret, we are providing you with a template that is 100% proven to work to retain your clients on chronic medications.

  1. Make it a rule for you and your pharmacy staff to collect the contact information of all your clients with the above named medical conditions
  2. Record securely the contact information you collect from your clients in an easily retrievable manner
  3. Take note of the how long it will take them to finish their tablets you’ve dispensed
  4. Call them on the day before they finish their course. Tell them something like this: ‘Good day Mr. John, we noticed that your blood pressure tablet is about to finish. We are delighted to tell you that we have reserved a supply especially for you to pick up whenever you’re passing by. It will only take a minute when you come and we will be delighted to record your blood pressure to ensure it’s well controlled’.
  5. Prepare medications in advance of Mr. John arriving, take his blood pressure and record it for him in his pharmacy record that you now keep.
  6. After Mr. John has come back a few times. Call him just like in step 4 and this time around offer him a discount.

Implement this 6 steps and Mr. John and hundreds more like him will become your clients for life. How do we know this? We have helped hundreds of pharmacies Institute this process easily with tremendous results. Here is a snapshot of a sample ‘refills tab’ for a pharmacy that uses our engage software to record drugs dispensed and engage their clients.

patient refill

You don’t have to use our software to apply these tips. You can use a simple Microsoft spreadsheet, pen and paper or even your own phone’s calendar software. We’d love to advise you on the best way to go about this from our experience helping pharmacies with thousands of their clients. Just WhatsApp us by clicking below.

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