Issue link: http://osercommunicationsgroup.uberflip.com/i/303783
C h a i n D ru g s to re D a i l y S a t u rd a y, A p ri l 2 6 , 2 0 1 4 1 2 SHOPPER ENGAGEMENT BUILDS LOYALTY, SALES IN DRUG CHANNEL To reach more shoppers and increase sales, the drug channel continues to evolve. Fresh food options are growing. Loyalty programs are providing valuable consumer data, and new business ven- tures are being created. In another trend, drug chains are developing strategies to more actively engage customers and potential customers. "There's no better way to make a one-to-one connection with shoppers than through engagement marketing," said Jay Lenstrom, General Manager of Marketing Werks, A CROSSMARK Company. "Whether it's seeing, tasting or trying products, or receiving free health screen- ings, shoppers will walk away with a pos- itive impression of a retailer and the peo- ple who work for that retailer." A recent report in Shopper Marketing Magazine (sponsored by CROSSMARK and Marketing Werks) indicated that 73 percent of surveyed marketing executives rated experiential marketing as either "very" or "some- what" important. Seven out of 10 shop- pers said they were very likely to tell a friend or family member about a positive brand experience. "In the age of digital clutter, consumers are seek- ing personalized interac- tions, and the personalized interactions delivered through live engagement marketing actually increase a brand's chances of making a bigger impression in the social media space," Lenstrom said. Marketing Werks currently manages nationwide engagement campaigns for a number of manufacturers and retailers. One of its most successful programs is a health tour for a major retailer, which provides free preventative and early detection health services to some of the nation's most underserved communities. The tour has provided services to near- ly a million people and has prompted billions of media impressions. "This program is just one example of a drug channel engagement pro- gram that has resulted in community involvement, social media excitement and satisfied shoppers," Lenstrom said. "There are also many other opportunities to engage shoppers in the store aisles, in the parking lot and in other locations." For more information on engagement marketing, contact Jay Lenstrom at 312-228-0800. MEASURING AND IMPROVING CUSTOMER LOYALTY For U.S pharmacy retailers, opening new stores is no longer the only or even dom- inant growth strategy. With some excep- tions, the way to win market share is not necessarily through owning more real estate, but by truly understanding one's customers and increasing their loyalty to your organization. But how can a retailer evaluate its cus- tomers' loyalty when doing so requires knowing about purchasing habits in the marketplace and beyond their doors? By knowing how they compare to the bench- marks. For example, knowing: the propor- tion of pharmacy customers who divide their prescription business with other retailers – or, the so-called "Splitters"; how Splitters are distributed by patient demo- graphics, payment method, class of trade and therapy; and the "share of wallet" being attained by patient demographics. Retailers who receive this informa- tion now understand not only what is hap- pening inside their stores, but can evalu- ate performance in the context of what is happening outside their stores as well. Discovering Opportunity By looking at loyalty across the market- place rather than just within your own walls, both opportuni- ties and areas of concern are more readily identi- fiable. For example, a recent client deliv- erable revealed that: Splitters fill more prescriptions overall than loyal cus- tomers and so represent greater potential for the organization; a disproportionate number of loyal customers are in certain demographic groups; and patients who divide their pharmacy business spend only half of their prescription dollars with the organization Through this project, it became evi- dent that non-loyal customers represent- ed enormous business potential. In fact, if the company were to gain just one more prescription per quarter for each non-loyal customer, this new business alone would translate into tens of mil- lions of additional annual revenue. Winning Non-Loyal Customers With an understanding of the business being lost to Splitters, a pharmacy retail- er could initiate a targeted campaign designed to improve loyalty and gain a greater share of the Splitter's wallet. Thus, treating customers according to the unique behaviors and needs of their seg- ment opens up new opportunities for U.S. pharmacy retailers today and well into the future. For more information on customer loyal- ty metrics and offerings, contact IMS Health at www.imshealth.com, 610-244- 2991, or kborzillo@us.imshealth.com. Stop by Casita #7171 at the show. DELIVERING TRUSTED AUTHORIZED GENERICS—GREENSTONE LLC For more than 20 years, Greenstone LLC has offered a growing line of generic pharmaceuticals. In 2003, Greenstone became the generic subsidiary of Pfizer Inc, and the company is now considered one of the longest-running marketers of authorized generics in the United States. Today, Greenstone provides a prod- uct pipeline that highlights quality gener- ic equivalents to some of the best-selling branded pharmaceuticals on the market. The Greenstone portfolio includes authorized generics from Pfizer Inc that cover a broad range of therapeutic areas. Striving to provide a continuous sup- ply of medicines that benefit both patients and partners, Greenstone leverages decades of experience and a robust pipeline. But the company's most critical assets are its dedicated staff, all of whom are committed to product quality, supply and making Greenstone an industry generic supplier of choice – especially when it comes to authorized generics. In fact, Greenstone has been committed to provid- ing quality author- ized generics to its customers since 1993. Greenstone's authorized generics have the same active and inactive ingredients and are typically the same size, shape and color as the brand name drug. Greenstone authorized generics are backed by the dis- tribution and customer service support of Pfizer Inc, one of the world's largest phar- maceutical companies. Greenstone's Business Alliances Team can help secure future earnings on innovator brands facing patent expiration. These experienced professionals can help turn a loss of exclusivity into a new opportunity when a successful prod- uct becomes generic. As an authorized generics partner, Greenstone has established relationships with more than 100 customers across many classes of trade and seasoned account directors, with a team dedicated to providing comprehensive management solutions throughout the next phase of your brand's life cycle. For more information, visit www.GreenstoneLLC.com, or call Greenstone LLC Customer Service at 800-447-3360. most efficient manner possible. Each of our nine state-of-the-art production facil- ities, both U.S. and international, meets the same exacting U.S. FDA cGMP stan- dards. This unwavering attention to qual- ity is one of our core values. Finished product quality starts with strong research and development and a quality-by-design approach. We've invest- ed substantially in this area – more than 130,000 square feet in two metro New York facilities and another 100,000 square feet in India are dedicated to R&D. Over 230 Ph.D. and M.D.-level U.S. scientists bring deep expertise in regulatory, clini- cal, intellectual property and other disci- plines to the company's scientific team. Amneal's strategic focus on R&D is a major product development advantage and assures customers of the highest quality generic medicines. CDD: Tell us about Amneal's current products and what we can anticipate in the future. CP: Our well-balanced portfolio now numbers 76 FDA-approved generics in multiple therapeutic categories. In our large, diversified pipeline, across all dosage forms, 90 products are currently filed with the U.S. FDA awaiting approval, and over 140 small-molecule generics are in development with 22 percent being eFTF, FTF and FTM filings, while 33 per- cent are Paragraph IV products. Efficient and effective allocation of R&D resources allows us to target the most attractive commercial products across multiple dosage forms – tablets, capsules, softgels and oral liquids, plus differentiated generics such as injecta- bles, topicals, transdermals, transmucos- als, inhalers, nasal sprays, ophthalmics, otics and biosimilars. Over the next three Amneal Pharmaceuticals ( Cont'd. from p. 1) years, nearly 100 new products repre- senting $62 billion in market value are expected to launch. CDD: Besides product development, what are Amneal's other areas of growth? CP: We continue to invest in our manufac- turing plants, such as the 300,000+ square foot expansion underway in Brookhaven, N.Y., acquire new facilities to increase capacity and capabilities as well as form strategic alliances to enter new technology areas. In addition, we are carefully and intelligently expanding internationally. The cumulative effect of these initia- tives has made Amneal one of the fastest- growing generic companies in the U.S. with strong individual product success across our portfolio. CDD: How do you manage fast-paced growth while maintaining superb product quality? CP: We have a tenacious and unwaver- ing commitment to quality first with a robust group of highly-talented scientists and functional experts managing Amneal's growth effectively; the compa- ny now employs over 2,600 worldwide. We've invested considerable resources in human capital as well as product devel- opment for each new area we enter. As Amneal strives toward its goal of becoming a Top 5 U.S. generics supplier, we remain dedicated to the passionate pursuit of quality throughout our opera- tions, a total commitment to our employ- ees and creating exceptional value for our customers. These guiding principles are the foundation of Amneal's success. For more information, stop by Table #302 at the NACDS Annual Meeting, visit www.amneal.com or call 866-525-7270.