December 10, 2015
You might know millennials as tech-savvy and social media-obsessed young adults, but the roughly 80 million millennials in the U.S. today could mean big business for your pharmacy.
According to a report from Accenture, a strategy and digital consulting company, millennials spend approximately $600 billion each year, and their spending is only projected to grow.
If you can earn the patronage of this generation, you can keep them coming back to your pharmacy for years. Sixty percent of millennials report often or always being loyal to brands they currently purchase, so the sooner your pharmacy can build relationships with millennial patients, the sooner you can cultivate their loyalty.
Here are five ways to earn the loyalty of millennials.
Only 1 percent of millennials said compelling advertisements would make them trust a brand more, according to a Jan. 20 Forbes article. But 75 percent of millennials said it’s either fairly or very important to them that a company gives back to society.
To attract and keep millennial patients, look for opportunities to support local charities and give back to your community. For example, consider sponsoring a pet adoption event for a local animal shelter.
Ongoing community support can get millennials’ attention, and solidify your pharmacy’s brand as a business that invests in your community.
Millennials heavily research products before they make a purchase, and blogs are a popular source of information for many millennials. According to the Forbes article, 33 percent of millennials are influenced by recommendations and research they find on blogs, while fewer than 3 percent use information from T.V., magazines or books.
Attract millennials to your pharmacy by stocking blog-recommended products in your front end. Follow popular blogs that write about natural health, exercise or health and wellness products to stay up-to-date on the latest trends in health and fitness. That way, you can keep your front end refreshed with the latest brands that millennials are looking for, and you’ll be ready to counsel patients about trendy diets or products that might not be healthy.
Also, ask your current millennial patients to recommend health and wellness blogs that you should be reading, too.
Millennials don’t just want you to be on social media, such as Facebook and Twitter, they also want you to engage with them. Sixty-two percent of millennials say they’re more likely to be loyal to brands that engage with them on social media, according to the Forbes article.
For example, share a poll on your pharmacy’s Facebook page, so your patients can vote on which local charity your pharmacy will support. Or, consider creating a Facebook group for millennial patients, where you share information about events that might appeal to them, such as 5K races or stress-reduction classes at your pharmacy.
Millennials are known for being tech-savvy, and 87 percent report using two to three tech devices per day, according to the Forbes article. In order to reach this demographic, your pharmacy’s website needs to be mobile-responsive.
Millennials want to be able to find information about your pharmacy, such as your hours, location and the services you offer, when they’re on the go. This way, millennials can find your pharmacy when they’re searching for a place close to their doctor’s office to fill their prescription, or trying to get a flu shot after work.
Bonus tip: Consider offering an app that allows patients to order prescription refills with a touch of a button on their smartphones. Check with your pharmacy software vendor to see if they offer a prescription refill app you can brand to your pharmacy.
Despite being perceived as healthier than older generations, millennials worry about their health just as much as patients from the baby boomer generation, according to a 2014 survey, Millennial Mindset: The Worried Well.
According to the survey, 44 percent of millennials said that viewing health information online causes them to worry about their health. Earn their loyalty by listening to their health concerns, and offering reliable education and information to help them understand their health conditions.
Once you establish your pharmacy as a health care expert and a source of reliable information, millennials will continue to turn to your pharmacy for all their health care questions and needs.
Prepare your pharmacy for other demographic changes that may affect your business.