What a Target Audience Is and Why It Matters To Your Pharmacy

Can you define the perfect patient or target audience for your pharmacy? If not, you’re missing a big opportunity. At the highest level, your target patients can probably be defined as anyone in your area who needs prescription medication or other health-related products. But the more specifically you can define who those people are, the more detailed you can be with a marketing strategy to get members of your target audience into your pharmacy’s door.

Your target audience is the group of people who are most likely to buy your products and services. Knowing who they are will be an immense help for your marketing and overall business strategy. To get a firm handle on your target audience, you will need to identify the different types of customers who make purchases at your pharmacy and consider the following factors…

• Medical needs
• Lifestyle
• Age, demographics
• Family size
• Budget

Most likely, you will end up finding more than one target audience. For example, if your pharmacy is located in a neighborhood with many young families, pediatric patients may be a large target audience. If you are located near a gym, you’ll probably consider your target audience to be those who are looking for health supplements and nutritional products. Meanwhile, nearby retirement communities can bring in older adults with multiple prescriptions.

Defining your pharmacy’s target audience is a detailed and time-consuming process, but it’s well worth the investment. If you know your target audience, you will be able to streamline your business – ordering the right products to satisfy your audience and be able to market your products in a more efficient manner.

Here are three reasons why you can’t afford to wait another minute to define your target audience:

1) Maximize Your Marketing Efforts

Rather than trying to please everyone, you can maximize your marketing efforts by targeting the patients who will be most profitable for your pharmacy. Targeting a group of people who will not convert to customers is a waste of your time and money.

2) See Quicker Results

Marketing takes time. And will take even longer if you don’t know whom your audience is. On the other hand, the more time you invest in your specifically defined target group, the more that group will grow. You’ll see quicker profit growth by going after those most likely to purchase from your pharmacy and turn those folks into repeat customers.

3) Facilitate Personal Relationships

Most people want to feel valued, especially by their pharmacy. By connecting with your target customers and delivering products or services that fill their unmet needs, you will create a group of people who identify with your business. When people feel valued, they will share their experience with others. And maintaining loyal customers who market on your behalf, with word-of-mouth referrals, can be your best marketing plan of all.

Focusing on most profitable target groups doesn’t mean your pharmacy will ignore customers who don’t fit your target audience. It only means that you put your focus on those who are most likely to make a purchase.

Identifying a target audience is one of the most crucial elements for expanding your pharmacy business. If you’re looking for more ways to grow, we’re here to help. Our pharmacy business consultants are available for one-on-one assessments that will introduce you to the many resources available at your fingertips. Click here to schedule your free pharmacy business assessment and start boosting your business now.

Are you ready to get started now? Download the free eBook, 3 Innovative Ways to Compete in the Pharmacy Market and start learning critical new ideas for your business, immediately.