Owning any type of business whether it is an independent or a chain pharmacy, it is important to know your customer. This will not only allow you to find your customers easier, but it will also help you turn them into loyal customers. This blog piece will help you get to know the 80 million Millennials and turn them into happy, loyal customers.
When asked who are the Millennials, a lot of numbers are thrown around, years they were born between and age groups. This generation is more than just one large group of people that happened to be born around the same time. This generation is like no other generation before them. If you own a pharmacy, you will need them to thrive and survive, if of course, you plan on keeping your business open in the future.
The Millennial generation tends to get a bad rap because they are also known as the “me” generation. But the way I look at it, they just want to feel like they matter. If your pharmacy could find ways to authentically show Millennials that they matter to you, then you will have a greater chance of your pharmacy mattering to them. Sound hard? Get to know them, learn what makes them tick. Bernadette Jiwa, a marketing professional, says
“The key to mattering to your customers is to actually
care about them just as much as, if not more than
you do about the success of your business.”
Which understandably can be hard, because it is your job that is on the line. But at the end of the day, being genuine will be worth the risk. You will be surprised that by understanding what makes people tick could be more valuable to your business.
Surveys have discovered that 70% of buying experiences are based on how the customer feels like they are being treated. Many will simply leave and never return if they feel like they don’t matter. Millennials are more willing to pay for the intangible value, the experience. This could be your competitive advantage. You won’t be the only pharmacy that is fighting for their attention, but once you find out how to be their “go to guy”, the one that people can trust, your business will thrive.
To put things in perspective, by year 2020, which isn’t that far away, Millennials will become the majority of the workforce, and their annual spending will have doubled. While Baby Boomers retire they are taking $400 billion in annual spending with them. For these reasons alone your pharmacy is dependent on Millennials and if you take the time to get to know them, you can attract the attention of the largest generation.