With so much talk about demographic marketing based on age groups (ex- Millennials, Gen X'rs, Baby Boomers), I wanted to shed some light on something much more powerful, which spans demographics- value based marketing.
As you will see, DEMOGRAPHICS ARE NOT THE BEST PREDICTORS of human behavior…VALUES ARE.
Targeting your customers and potential customers by addressing the values they hold strong, is probably the single most powerful thing you can do. Consider values to be things almost innate, they like, are driven towards, and are willing to spend money on to enhance their lives.
That being said, the most powerful, influential, and largest value set are the Cultural Creatives. I know you have heard me speak about the Cultural Creatives before, although let me give you a brief summary of what they are about.
Remember that we are gauging demographics around values; not age, race, sex, or anything else. When you group values together, you can have Baby Boomers, Millennials, men, women,...
This might challenge to what you have been told...this is probably not what the marketing genius' have been telling you at the last pharmacy seminar...and I am for damn sure a marketing exec on Madison Avenue would be outraged on what I am about to ask you...
Of course you don't want to ignore an entire demographic, and yes, the millennials do show potential and value in the health and wellness market.
If you put all of your eggs in the "Marketing To Millennials Basket" you might find yourself licking some major business wounds later.
Let me share with you something I came across from The Chief Marketing in December, ad Bob Bly's take on the matter...which inspired me to write this post.
The obsession with marketing to millennials is idiotic. We boomers are who you should be selling to. Reason: As. HubSpot notes, millennials have no where near the buying power of baby boomers: 70% of the disposable income in the U.S. is...
You often hear about building your own brand, but what about the brands that make-up your business? If you sell products, this can be a big deal and a tremendous tool to retain your customers and prevent them from being hi-jacked.
Let’s take wellness for instance; I like to focus on four main areas to build a successful wellness practice:
So, if you, yourself are the brand, you must certainly have a strong base of competency. The brands that you carry can play a very big role in this as well.
In my pharmacy I had three to four main nutritional companies I utilized: Pure, Thorne, Premier Research Laboratories, and Metabolic maintenance- I sold others, but these were my core 4, I had my reasons, and as you can tell, they all promote hypoallergenic, no toxic fillers, and vegetable capsules in...
Being a pharmacist, have you ever been in a job where you did not “love” your customers?
Over the past two decades I have seen time and time again, pharmacy staff express their “issues” with customers a number of ways: avoiding a certain person having someone else to wait on them, rolling eyes, and even ‘venting’ after they leave. If you have ever worked conventional retail pharmacy, I am guessing you know what I am talking about.
Regardless of my work situation over the years, I have found ways to love being at work, in practice, and I have realized this is due to the power we have to cultivate our clientele.
If you were to go out and ask any pharmacist at a big box or corner clone chain, or even an independent who solely practices the lick, stick and pour model of pharmacy, if they love their job, I am guessing you would get a resounding no- and a lot of this has to do with the people and customers...
I love my car, a Nissan Murano who keeps on giving, although every once in a while, she needs a little TLC.
I have had great luck with Nissan’s, seldom have to do anything besides standard break, tires, and oil changes. And after my local tire store tried to dupe me saying I needed some new struts or something, I took to looking for new place “just in case.”
My new auto mechanic began with honesty and transparency, they looked over my car to see if in fact I needed the new parts the tire joint was saying- fortunately they called their bluff. On top of this, they did not charge me, so I told them when I get back from an upcoming trip, I would like to take my care to them for a oil change and tune-up, which was today.
In Pharmacy I NEVER push people into consults- I cultivate an environment where I often "move the free line" which in the end, builds trust, shows transparency, gets them accustomed to buying from me...and ultimately sets them on a course of...
The world of nutrition is a segmented one. From sham supplements that are low quality with deceiving marketing practices, to big box chain, to mid-level herb store brands, to practitioner grade/specialized, highest quality supplements.
At the same time, the nutritional world is changing, more and more people want a piece of the pie, and manufacturers who once played only in one segment, are looking for ways to get into others, especially the area of practitioner grade/specialized, high quality.
I believe this has a lot to do with the consumer getting smarter, looking for transparency in the products they use, and want the best for themselves and their family.
We have seen in recent years, P & G purchase New Chapter, and a big announcement from Pharmavite, the who owns and manufacturers the Nature Made brand, just agreed on a purchase of Food State, Inc.
You might recognize the name Food State from a recent post on what is known as The Transparency Project. Food State owns to...
Trends in consumer’s habits can tell you exactly where you want your business to be; now and in the future.
One area which has been a huge growth category is health and wellness and offers the perfect complement to any pharmacy practice; especially if they desire to strengthen their offerings in preventative and natural medicine.
There have been a few surveys this year which further highlight the consumers desire of getting healthy and staying healthy, and some of the values and desires which they are bringing to the table.
Nielsen published their global health and wellness survey earlier this year which showed congruent trends the worldwide. 50% of consumers surveyed said they had plans on shedding weight, and 75% said they will be adopting healthier habits the year ahead.
Then Alixpartners published their North American Wellness Review, which showed that consumers are willing to spend more on healthy food and healthy habits.
This continually growing trend has been going on for a...
The landscape of retail pharmacy is getting weirder and weirder, isn’t it?
Continued consolidation of the big box corner clones which further creates a “superpower connection” between government (over-seer’s of our health care industry), PBM’s and Pharma…in my mind, an un-holy trinity of disease state management, cost gauging, and continually failing customer experience.
What about the customer, where do they fit in this equation?
What about their levels of satisfaction?
JD Power recently published their annual US Pharmacy Study. Understanding the importance of the consumer experience as being one of the most effective ways to optimize ones marketing practices, this study is designed to provide a framework to help pharmacies define and take advantage of customer satisfaction.
This study looked at 5 Factors:
Where the designated types of pharmacies studied were described as: Major...
In an effort to help their audience in the increasing challenging nutritional industry, Nutrition Business Journal (NBJ) set out to define who the Core Supplement User is- what values and beliefs drive them.
NBJ started out by conducting interviews with industry insiders, such as executives at nutritional companies and natural health retailers.
From this information they developed a screening criteria to find a representative group of CSU’s. They then provided in depth interviews with CSU representative group to discover what makes them tick- the values, beliefs, and motivations that drive behavior on purchasing supplements as well as health and wellness services.
Who The Core Supplement User Really Is
The Core Supplement User has a strong commitment to using supplements, with 3 main benefits they look to derive from supplements.