Top 5 Technological Tools to Grow a Pharmaceutical Business with Speed
Top 5 Technological Tools to Grow a Pharmaceutical Business with Speed
Venturing into the pharmaceutical business sector is one of the best decisions you could make as an entrepreneur. Like every other businesses, pharmacists aim for promotion and aspire to make tremendous profit and improve performance and profit generation. To improve performance and profit generation, technology is also employed in pharmacies. This post will take you through some of the technological tools that are suitable to grow your pharmaceutical business with speed.
- Have a CCTV: Closed Circuit Television is designed for everyone who needs it, including pharmacies. As an entrepreneur, consider the number of people that will visit your pharmacy store in a day, you might not be able to see them all, but with the help of surveillance cameras, you’ll be able to know who goes in or comes out. Besides, not everyone who visits your pharmacy is visiting with the aim to make purchase, some are thieves, some might be terrorists, some might be wanted criminals while some could be suicide bombers, by having CCTV in your pharmacy, you get to see them from your space as they approach the pharmacy and you take precautions on time.
Besides, not all of your attendants are honest people. Some might want to tamper with your goods or your money which could lead you to bad debts, in order for this not to happen then you need a CCTV.
And if eventually there was a successful theft, whether by your attendants or by “assumed customers”, be sure to get the culprit because with the CCTV footage, be assured that the culprit will be found and brought to justice. There are so many other advantages in having a CCTV in your pharmacy.
- POS Machine: the world gets digital day after day and people find it more interesting to make cashless transaction as many now see carrying cash as burdensome, so in the stead of cash, people prefer to pay via bank transfer or Point of Sale(POS) Machine. With POS, machine, you make purchase easier for your customers as there would be no need for them to always bother about going to the bank before visiting your pharmacy.
More so, it will increase your profit and also reduce your credit sales; since some customers are fond of making credit purchases under the guise of “I don’t have cash” so the next time you hear that statement, you just have to present the POS machine to them with a smile, if they are serious about payment, they will bring out their cards and make payments, but if they are not, they will give another excuse and this might just be a sign you need to identify them as not being your ideal customers.
Asides reducing credit sales, you could also increase your income just by having a POS machine in your pharmacy; due to the fact that there are always long queues in banks and ATM stands, many now find it tasking to visit banks for withdrawal, they rather prefer to visit the nearest POS store for withdrawal. As an entrepreneur, this is double blessings for you as you get income from your pharmacy and also from profits made on making POS transactions for people. It also saves you the stress of having to go to the back to deposit your money since people will be making payments into your account while you give them the cash at hand.
Top 5 Technological Tools to Grow a Pharmaceutical Business with Speed
- Website: there is no crime in building a website for your pharmacy. It is not a matter of how big you are in brick and mortar, but your audience. Since your aim along with solving people’s problems is to make profits and gain customers, then building a website is a wise decision to make. People can learn more about your services on your website. There might be services you offer in your pharmacy which random people might not know about, but when they visit your website, they get to see things for themselves.
More so, you people could place drug orders on your website, make payments and even subscribe to your website, with that, you would be able to build email marketing (if you are interested in one). Having a website also gives you the opportunity to rank in Google’s SEO and be visible to potential customers from around the globe.
- Email marketing and Data Tracking: email marketing on one hand, is one of the technologies that you can use in gaining and retaining customers, making multiple sales and even to gather feedbacks and reviews on your services. You could easily compile an email list based on customers’ details from your website and send them creative messages from time to time.
With data tracking on another hand, you could track the data of any customer and see how often they patronize you, their preferences, their purchase and other things. Technology makes it achievable for you simply by getting their email address and tracking it in your computer.
With data tracking and email marketing you can boost your customer follow-up and also pull tremendous sales at the same time. By sending info products to customers from time to time (with the use of auto composed messaging software), be sure to make great profits.
Top 5 Technological Tools to Grow a Pharmaceutical Business with Speed
- Social media: The notion that the social media is meant for the celebrities alone is a complete travesty. Social media is meant for everyone especially entrepreneurs. I advise any entrepreneur who wants to make a wide declaration of his business to make use of social media, because on social media, you gain followers (who must be viewed as potential customers) and even get the chance to interact with them, learn what they feel about your pharmacy, their level of reception to your service. By providing link to your website on your social media pages, potential customers can find their way through to you. There is a lot you can do on social media so don’t be fooled into thinking that it is not meant for your kind of business.
Growing a pharmaceutical business involves a lot and it requires taking actions deliberately, intentionally and with focus on what you want to achieve. Your pharmaceutical business will soar with top speed if you would take the above points into consideration and act on them.
Hope you enjoy this article?
Share your thoughts in the comment session.
Contact us today for your business consultancy and business advisory services. We can help you fine tune your idea, structure your business, market your business, train your staff, consult on your retirement plan, coach you for financial success. We also write business plan and help with fund raising strategies and Grant applications. We can help you start, grow and expand your business.
Call or WhatsApp us now on 081 0563 6015, 080 7635 9735, 08113205312 or send email to dayohub@gmail.com and we will solve any of your business problem.
(B.Agric, MBA)
08105636015, 08076359735
Serial Entrepreneur - International Business Planning Consultant - Speaker - Trainer - Author - Blogger - Network Marketing professional.
- 2018 SME Business Trainer and Coaching Advisor at GIZ for SME Loop.
- 2018 YALI RLC Online Cohort 9
- 2017 Fellow, Inspire Africa Train-the-Trainer Entrepreneurship programme sponsored by US Consulate Lagos and the Dickey Center, U.S.A.
- 2016 Fellow, Tony Elumelu Foundation Entrepreneurship Programme
- 2015 Top 50 Innovative Entrepreneurs, BET5 by Diamond Bank and EDC, PAU.
He is an alumnus of Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan-Atlantic University (PAU). Through his training, mentoring, speaking and coaching programmes, he has empowered many young people over the years to start and grow their own business, build wealth, create multiple streams of income and achieve financial independence.
- He is a Certified Trainer in Design Thinking by the U.S Consulate, Lagos and the inspire Africa Entrepreneurship Institute.
- Katumu Adasi: How to survive in Nigeria without a job - February 11, 2021
- Top 5 business and services with the highest demands in Nigeria - January 4, 2021
- How to Become a Millionaire doing Rice Farming in Nigeria - January 4, 2021