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As you well know, there are countless ways to make more money for your pharmacy. From leveraging your pharmacy technology to expanding your clinical services arsenal, the modern age of pharmacy offers more avenues for revenue than ever before.
Now, let’s look at the marketing side of things. When you open a pharmacy, you also create a brand, a healthcare destination that needs a strong brand identity to flourish.
Enter white label products. They are a tried and tested way to get your pharmacy’s name out there, all the while driving even more profits for your pharmacy.
Here's how white label products can skyrocket your pharmacy’s profitability.
Per Investopedia, white label products are products that are sold “by retailers with their own branding and logo but the products themselves are manufactured by a third party.”
In short, you can sell these products that have your pharmacy’s branding. Think of the Great Value or Goodfellow lines from Walmart and Target, respectively.
Some white label products for your pharmacy may include:
These are just a portion of white label products you can sell in your pharmacy. If your pharmacy sells a brand-named OTC medication, chances are that you can sell them with your pharmacy’s label on it.
Your pharmacy’s products help create a brighter and healthier patient base. They also strengthen patient relationships, and the first step in building a successful relationship is making a good first impression.
That's what white label products help you do. They get your pharmacy’s name out there in simple but effective ways. Marketing your pharmacy comes in all shapes and sizes nowadays, from big billboards to small LinkedIn ads. White label products are a superb middle point, showcasing your pharmacy’s name to the world. Who knows — maybe someone will climb Mount Kilimanjaro (or run a marathon if you’re Ashley Moose) with a reusable water bottle that has your pharmacy’s name on it.
Let's get back to pharmacy-specific products. As mentioned earlier, white label products for your pharmacy include vitamins, supplements, PPE, and other OTC products. Putting your pharmacy’s logo on your products and even in your pharmacy packaging (more on that later) strengthens your patient’s relationship with your pharmacy — encouraging them to depend on your small business more for their health needs.
The pharmacy industry encourages innovation and novel thinking. Whether you’re an independent pharmacy owner or working the night shift at the hospital, you have the chance to put your stamp on the industry.
Let’s look at your pharmacy packaging. Your pharmacy’s amber vials can be a fantastic means of marketing your pharmacy — you just need to know where to look.
You can package your prescriptions with your pharmacy’s branding and color scheme. Turning your vials into a white label product further reinforces your pharmacy’s brand, making your pharmacy more known within the community.
In this clip of the Catalyst Pharmacy Podcast, Kyle McCormick, Owner of Blueberry Pharmacy, tells all about his unique pharmacy packaging with the help of vendors like Parcel Health:
Looking for a place to start selling white label products? Easton Bryant of North Century Pharmacy tells all on how to start selling private label supplements in this clip from the Beyond the Scripts Podcast:
These small but effective ways to put your pharmacy’s name out there are all the more reason to look into white label products. Whether it's medications or even a throw blanket, make sure your putting your own stamp on the pharmacy industry.
Just like how white label products let you put a literal stamp on certain products, your pharmacy software lets you put your stamp on pharmacy work. Let your pharmacy system seamlessly include these products in your pharmacy’s repertoire.
With PioneerRx, you can rename white label products so that your pharmacy’s brand is visible on the POS receipt. You can adjust your pharmacy’s layout by placing those items into a custom department for easy sales and inventory reporting.
This also allows your pharmacy to hold POS promotions to offer monthly sales promotions on those items.
You can add OTC items to a patient’s Sync Cycle as Other Meds. This will ensure that a supplement is a recurring sale and not a one-time purchase — all with your pharmacy’s name on it.
For more ways PioneerRx can boost your pharmacy profits, read our blog, “7 PioneerRx Features to Grow Your Pharmacy’s Profitability.”
White label products offer an excellent opportunity to elevate your pharmacy’s brand while driving additional revenue. By putting your name on a wide range of products, from supplements to personal care items, you not only reinforce your pharmacy’s identity but also create stronger relationships with your patients.
These products serve as everyday marketing tools, seamlessly blending healthcare with brand recognition. Take advantage of this unique approach to grow your pharmacy’s presence and profitability, one product at a time.
