{"id":24810,"date":"2020-12-23T10:14:47","date_gmt":"2020-12-23T10:14:47","guid":{"rendered":"https:\/\/www.pharmamanage.gr\/2020\/12\/23\/catching-up-on-missed-sales-2\/"},"modified":"2024-02-01T16:19:15","modified_gmt":"2024-02-01T14:19:15","slug":"catching-up-on-missed-sales-2","status":"publish","type":"post","link":"https:\/\/www.pharmamanage.gr\/en\/catching-up-on-missed-sales-2\/","title":{"rendered":"Catching up on Missed Sales"},"content":{"rendered":"

Ever asked for something in a shop and been told “we don’t stock it because there’s not enough demand”? <\/strong><\/p>\n

To a consumer it\u2019s just a nuisance. <\/p>\n

For a retailer, it\u2019s a loss of business.<\/strong><\/p>\n

A consumer can’t buy what isn’t there, but if they decide to look elsewhere they may never return.<\/p>\n

Unfortunately, accounts systems only record sales that are made. <\/strong><\/p>\n

Unmet demand is lost business.<\/p>\n

The simplest way to record unmet demand is to log every instance a customer asks for something you don\u2019t have. <\/strong><\/p>\n

A month’s worth of data might show one or two significant areas of demand.<\/p>\n

If three people actually ask for something, it\u2019s likely that at least as many again have looked round and either been too embarrassed or not had enough time to ask. <\/strong><\/p>\n

Better still, ask staff to record what action they took, as well as the query itself.<\/p>\n

Could the pharmacy order in items which are not economic to stock in bulk? <\/strong><\/p>\n

Can it refer customers to a friendly rival?<\/p>\n

A customer who has been referred on, or who has had something ordered specially, will always remember the service given – and probably come back.<\/strong><\/p>\n

Don’t forget that you may have the right product, but the wrong price.<\/p>\n

If the log shows that customers refused to buy because the product was too expensive, it\u2019s time to start scouring suppliers for a cheaper source, or even cut margins. <\/strong><\/p>\n

You might have room to stock two products – a basic and a more expensive version. <\/p>\n

It\u2019s often said that the customer is king, but the reality is that the non-customer is, because there will always be more people who walk past than come in the door.<\/strong><\/p>\n

Those customers represent a demand not met.<\/p>\n

\"Catching<\/p>\n

Missing person marketing<\/strong><\/p>\n

Most marketing is directed towards finding out about customers who already buy from a business.<\/p>\n

But how can a pharmacy find out about those that haven’t yet become a customer?<\/strong><\/p>\n

You could look at your customers to try to spot the missing people and groups.<\/p>\n

Is the pharmacy mainly serving one segment of the local population? <\/strong><\/p>\n

What is the spread of the generations that buy?<\/p>\n

Could you run a pensioner discount day?<\/strong><\/p>\n

Do you miss commuters because your hours are too short?<\/p>\n

nce the missing people have been found, you can take action.<\/strong><\/p>\n

Remember the fourth P: product, price, people and place<\/em>.<\/em><\/p>\n

You may think that in a pharmacy, place is obvious. <\/strong><\/p>\n

But some customers will go out of their way to find what they want.<\/p>\n

Others will take one look, then walk out if they can\u2019t immediately see what they want, when the product was in stock. <\/strong><\/p>\n

Make sure that quick purchase goods are accessible and visible \u2013 it\u2019s what supermarkets do when they put sandwiches and drinks close to the door.<\/p>\n

By knowing what some customers shoot in and out for, a pharmacy could do the same.<\/strong><\/p>\n

One final point.<\/p>\n

Sometimes there\u2019s no sale even when the customer has found the product in the right place.<\/strong><\/p>\n

As with every retailer, pharmacy staff should be ready to help – a queue for the till or chatting shop assistants\u2026 customers will get fed up and will leave.<\/p>\n

Unmet demand is a source of profitable business. <\/strong><\/p>\n

A customer asking for something is a potential source of revenue.<\/p>\n

Don\u2019t ignore it.<\/strong><\/p>\n

www.PharmaManage.gr\/en\/<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Ever asked for something in a shop and been told “we don’t stock it because there’s not enough demand”?  To a consumer…<\/p>\n","protected":false},"author":32,"featured_media":24806,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_lmt_disableupdate":"","_lmt_disable":"","cybocfi_hide_featured_image":"","footnotes":"","_wpscppro_dont_share_socialmedia":false,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"","_twitter_share_type":"","_linkedin_share_type":"","_pinterest_share_type":"","_linkedin_share_type_page":"","_instagram_share_type":"","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_bluesky_share_type":"","_selected_social_profile":[],"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[377],"tags":[],"class_list":["post-24810","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-omnichannel-marketing-merchandising"],"acf":[],"yoast_head":"\nCatching 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