How to Market to Your Target Market (How to become a self-employed Pharmacist – Part 8)

by Marvin on January 18, 2010

in Coaching Series,Marketing

Post image for How to Market to Your Target Market (How to become a self-employed Pharmacist – Part 8)

Want to learn to fish for pharmacies eager to use your services?  Read on loyal fans, in this chapter we go fishing for pharmacies.  We’ll take you step by step on where to find and how to market to pharmacies.

If you’ve caught this coaching series in the middle, please take the time to start at the beginning of the coaching series and get yourself caught up!

Last week, I talked about the Self-Employed Pharmacists Target Market.

By now, you know about the kinds of pharmacies out there.  This week’s lesson is where most people get stall out.  This happens, not because this lesson is very complicated, it’s because this involves work.  The kind of work that involves finding, contacting and persuading pharmacies to use your services.  Something a lot of pharmacists out there aren’t used to doing.

This lesson is titled “How to Market to Your Target Market“.

The key question here is how do you find pharmacies and how do you let them know about your services?

Let’s tackle the first question.

Easiest Source
Where’s that secret fishing spot of pharmacies?   Well I’ll tell you.  It’s so simple and easy.  So simple that I think that’s why most people won’t even try.  The best way to find these pharmacies is by opening your Yellow Pages or Yellow Book.  That’s it!  That’s all you do.

Look in the areas you are interested and/or willing to work in and start writing down addresses.

Internet Sources of Finding Pharmacies
Ok, for the computer savvy out there wanting an Internet based source here are Three.  Do any seem familiar?

PharmacyPages

Yellow Pages

Yellow Book

Chamber of Commerce
Another great source is the chamber of commerce.  Successful businesses network with other businesses and organizations.  One of which is a Chamber of Commerce.  Go to the ones in the cities you want to work in.  If any pharmacy is registered with the Chamber, they can help you get the inside track at closing a deal and may even introduce you personally.

Drive bys
Another option is to drive around the neighborhoods you want to work. You’d be surprised how many pharmacies don’t market themselves out in phone books or any other place.  Just get out there, keep your eyes peeled and take down addresses.

I Have All These Addresses… Now What!?
Utilize the sources above and you’ll have a huge pool of prospective clients.  Now you have no excuse, but to market to them.

How do you do that?  How do you bait your line and get them to bite?  It’s as simple as hooking a marshmallow to catch Bass.

You use a marketing letter.  Yup, it’s time to use your business letterheads and stationary.  You know the stationary you should have set up back in lesson 3 (Setting the Foundation for Business).

How do you write such a letter?  Now here’s the tough part, probably as tough as making homemade marshmallows.  But, I know you can do it.  Because if I did it you can too (and I can’t even make marshmallows!)

Here’s where all your homework comes together.  Hopefully you’ve Understand What Your Business Really Offers, and you have your business tools ready to go because now it’s time to talk about…

The Recipe of Persuasion

I’ve broken out the steps to writing a persuasive marketing letter to a prospective client.  You will have to write one template letter and send it to all pharmacies you’ve uncovered in your search.  I recommend you balance some sense of informality and professionalism.

1)    Use your business letterheads.
2)    Follow the structure of a standard business letter.  With today’s date and greeting your prospective with something like ‘Dear Pharmacy Owner’
3)    In the body of the letter.  There are no hard and fast rules.  But in the letter be sure to:
a.    Introduce yourself, who you are and the services you’re offering and how you can be contacted
b.    How your services can benefit that pharmacy (lesson 4 what your business really offers) in your own words.
c.    Bonus tip #1:  Ok, quick tip here.  Also, make sure your prospective is aware of their situation with questions like, “Need some support help? Do you feel married to the pharmacy?”
d.    Bonus tip #2: You’d be surprised how many people fail to do this so I should mention it here.  Make sure to specifically tell them to call you should they need you.  In other words, ask for the sale!
4)    Make sure you letter is structured professionally, but it’s ok and even recommended to be informal in how you word your sales letter.  You want your prospective client to feel like you are a real person.

Use a word processing program to format it.  Print out multiple copies and mail them to each of your prospects.  Then sit back and wait for phone calls.

Other Notes
When I say, pick prospects I don’t mean four or five either.  The first time we tried this with my wife we mailed two hundred letters.  A sales letter such as this type will typically get a response rate of 1%-4%.  We received a whopping 20% response rate.  How’s that for a great market!?

Next Week’s Lesson – Landing your First Contract

We walked you through the process of writing a marketing letter to prospective clients

Next week, we’ll cover how to handle your first call.  This is an exciting chapter so be sure not to miss it.

This concludes this week’s lesson.  Make sure to get off your tired butt and start creating a list of prospects and begin writing a sales letter tailored to your business.

If you liked this lesson, sign up for our email newsletter.  That way you definitely won’t miss a chapter and you’ll get the entire coaching series for free!  (Once I’ve completed writing it of course!)

Photo: Sunset Fishing by NatashaP

How to Market to Your Target Market (How to become a self-employed Pharmacist – Part 8)

Want to learn to fish for pharmacies eager to use your services? Read on loyal fans, in this chapter we go fishing for pharmacies. We’ll take you step by step on where to find and how to market to pharmacies.

If you’ve caught this coaching series in the middle, please take the time to start at the beginning of the coaching series and get yourself caught up!

Last week, I talked about Self-Employed Pharmacists Target Market

By now, you know about the kinds of pharmacies out there. This week’s lesson is where most people get stall out. This happens, not because this lesson is very complicated, it’s because this involves work. The kind of work that involves finding, contacting and persuading pharmacies to use your services. Something a lot of pharmacists out there aren’t used to doing.

This lesson is titled “How to Market to Your Target Market”.

The key question here is how do you find pharmacies and how do you let them know about your services?

Let’s tackle the first question.

Easiest Source

Where’s that secret fishing spot of pharmacies? Well I’ll tell you. It’s so simple and easy. So simple that I think that’s why most people won’t even try. The best way to find these pharmacies is by opening your Yellow Pages or Yellow Book. That’s it! That’s all you do.

Look in the areas you are interested and/or willing to work in and start writing down addresses.

Internet sources of finding Pharmacies

Ok, for the computer savvy out there wanting an Internet based source here are Three. Do any seem familiar?

http://www.pharmacypages.com/

http://www.yellowpages.com

http://www.yellowbook.com

Chamber of Commerce

Another great source is the chamber of commerce. Successful businesses network with other businesses and organizations. One of which is a Chamber of Commerce. Go to the ones in the cities you want to work in. If any pharmacy is registered with the Chamber, they can help you get the inside track at closing a deal and may even introduce you personally.

Drive bys

Another option is to drive around the neighborhoods you want to work. You’d be surprised how many pharmacies don’t market themselves out in phone books or any other place. Just get out there, keep your eyes peeled and take down addresses.

I Have All These Addresses… Now What!?

Utilize the sources above and you’ll have a huge pool of prospective clients. Now you have no excuse, but to market to them.

How do you do that? How do you bait your line and get them to bite? It’s as simple as hooking a marshmallow to catch Bass.

You use a marketing letter. Yup, it’s time to use your business letterheads and stationary. You know the stationary you should have set up back in lesson 3 (Setting the Foundation for Business).

How do you write such a letter? Now here’s the tough part, probably as tough as making homemade marshmallows. But, I know you can do it. Because if I did it you can too (and I can’t even make marshmallows!)

Here’s where all your homework comes together. Hopefully you’ve Setup the foundation for business, you understand what your business really offers, and you have your business tools ready to go because now it’s time to talk about…

The Recipe of Persuasion

I’ve broken out the steps to writing a persuasive marketing letter to a prospective client. You will have to write one template letter and send it to all pharmacies you’ve uncovered in your search. I recommend you balance some sense of informality and professionalism.

1) Use your business letterheads.

2) Follow the structure of a standard business letter. With today’s date and greeting your prospective with something like ‘Dear Pharmacy Owner’

3) In the body of the letter. There are no hard and fast rules. But in the letter be sure to:

a. Introduce yourself, who you are and the services you’re offering and how you can be contacted

b. How your services can benefit that pharmacy (lesson 4 what your business really offers) in your own words.

c. Bonus tip #1: Ok, quick tip here. Also, make sure your prospective is aware of their situation with questions like, “Need some support help? Do you feel married to the pharmacy?”

d. Bonus tip #2: You’d be surprised how many people fail to do this so I should mention it here. Make sure to specifically tell them to call you should they need you. In other words, ask for the sale!

4) Make sure you letter is structured professionally, but it’s ok and even recommended to be informal in how you word your sales letter. You want your prospective client to feel like you are a real person.

Use a word processing program to format it. Print out multiple copies and mail them to each of your prospects. Then sit back and wait for phone calls.

Other Notes

When I say, pick prospects I don’t mean four or five either. The first time we tried this with my wife we mailed two hundred letters. A sales letter such as this type will typically get a response rate of 1%-4%. We received a whopping 20% response rate. How’s that for a great market!?

Next Week’s Lesson – Landing your First Contract

We walked you through the process of writing a marketing letter to prospective clients

Next week, we’ll cover how to handle your first call. This is an exciting chapter so be sure not to miss it.

This concludes this week’s lesson. Make sure to get off your tired butt and start creating a list of prospects and begin writing a sales letter tailored to your business.

If you liked this lesson, sign up for our email newsletter. That way you definitely won’t miss a chapter and you’ll get the entire coaching series for free! (Once I’ve completed writing it of course!)

Want to break away from the chain pharmacies? Need help getting started as an Independent Pharmacist? Want an advantage over the competition in your area? Check out our Starter Package!

{ 3 comments… read them below or add one }

1 Spencer June 19, 2010 at 11:02 pm

Thanks for all of the helpful information, you guys really have inspired me to take the plunge. I am working on getting everything organized so that I can become a self-employed pharmacist. I look forward to any more posts, information and tips that you may have. Thanks again!

Reply

2 William Matsuno October 5, 2010 at 9:39 pm

great info.,thanks

Reply

3 Kalu Ndukwe April 7, 2012 at 9:17 pm

Good and encouraging information

Reply

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