From prescriptions to over-the-counter medications, personal hygiene products, and household goods, consumers are spending more at pharmacies these days than ever before. Research shows shoppers spent upwards of $271 billion in US pharmacy stores in 2016, and that number is rising with each passing year.
86% of shoppers prefer to shop for Pharmacy Items in-store, compared to only 3% who prefer online.
Based on a public opinion poll, CVS Health reports that 69% of consumers visit a pharmacy at least once a month. A GroundTruth consumer study also revealed that 86% of shoppers prefer to shop for Pharmacy Items in-store, compared to only 3% who prefer online.
To capitalize on this behavior and shopping patterns, pharmacies are increasingly turning to location targeting. This approach can help you increase in-store sales, attract new shoppers, and even build long-term loyalty and trust.
Gain increased share of customers’ front of store wallet
The first step in using location targeting for your pharmacy business is to find prospective customers. Location data allows you to target other channels where your customer shops for their healthcare needs based on observed visits. Once these users are defined, you can then deliver marketing messages designed to increase in-store visits and awareness of your brand. This same methodology can be applied to loyal customers as well. Location-based ads promoting your special offers and sales can incite spontaneous visits and increase basket size in-store.
We also recommend targeting Location Audiences to reach likely customers. These audiences are built off a user’s foot traffic journey to make sure we’re reaching users with an intent to buy. For example, Behavioral Audiences combines visitation data and demographic data to help you reach likely customers. And our Neighborhoods solution can help you reach people in areas with a high visitation affinity to your store by coupling visitation patterns and audience segments with custom geographical boundaries.
Find new customers, and regain those who have lapsed
Because location targeting enables brands to get in front of both new and existing customers, it’s a vital part of both your customer acquisition and retention strategies. Pharmacies can target non-customers or retarget new ones to keep them visiting on a regular basis.
Cost Per Visit is a surefire way to generate foot traffic while only paying when in-store visits occur.
When you need to drive visits during key sales periods, Cost Per Visit — our performance-based advertising model — is a surefire way to generate foot traffic while only paying when in-store visits occur. This solution is a must during busy shopping seasons and whenever you need to boost your offline sales.
Increase sign-ups for your loyalty card program
For retail pharmacy chains, loyalty card programs often represent a core component of their customer relationship management (CRM) strategies. GroundTruth can help you blend your CRM data with our Location Audiences to reach shoppers who haven’t yet signed up for your loyalty card, thus expanding your program’s potential reach.
The ability to remind shoppers of your loyalty program, its benefits, and related promotions can have a major impact on sign-ups. On-Premise targeting can be used to remind shoppers about your loyalty program’s value, and the application of Neighborhoods lets you spread awareness of your program among consumers who have been to your store but have yet to join.
With billions of dollars in potential pharmacy sales on the counter, leveraging location to enhance multiple aspects of your business makes good sense. Contact us to learn more about how location targeting can improve your pharmacy marketing plan.
