I’ve always been envious of compounding pharmacies. It’s the last true art of pharmacy, one of the few reminders of where we came from as a profession.
For years I wanted to open one. In fact, I came within inches of partnering in one. I did the training at the PCCA, remodeled a 1,000 square foot space, and even became a member of the TCG. And then the NECC scandal hit, and my partner got cold feet. It was over before it even started. I was devastated.
And that’s the perfect segue into today’s article on growing your BHRT practice with Facebook ads.
Niches = Riches
Niches. It’s all about niches. And for compounding pharmacies, two niches have been extremely profitable – pain and BHRT.
Both are not only extremely lucrative but even more important, extremely rewarding because these patients usually have exhausted all other options and desperately need help. They’re niches in which we, as pharmacists, can truly make a difference.
The problem with niches is although they’re an underserved market, or possibly even completely ignored market, they’re often hard to grow because of their size, and more importantly, scatteredness. They just don’t cluster, and that can make traditional advertising methods extremely expensive and ineffective when attempting to grow your BHRT practice.
So if not in the newspaper or radio, where should you advertise?
Facebook = Profitable Niche Advertising
Facebook is your answer…
Facebook is great for niche marketing because:
- It allows you to narrow down your target market so you can get as specific as possible. Therefore you’re not wasting money on eyes that have no interest in your BHRT practice. You can finally get a positive ROI on your ads no matter how small the niche.
- It’s interactive in real-time. Traditional advertising for the prospect is passive one-way communication. On Facebook, a potential BHRT patient can see your ad, ask a question, and get an immediate response. Unlike traditional pharmacy, BHRT is complex and often the patient knows little about it. Facebook ads allow you to interact, explain, and help all within a single ad.
- You only pay for the action you want, and you can stop the ad immediately. Thus it gives you more control of your budget, allowing you to shut off poor performing ads within seconds and pump more money into rockstar ads immediately.
- You can reduce the risk of advertising by testing various ads with various messages to various audiences and find the winning ones immediately without committing to a large upfront payment for a single ad. Most successful Facebook advertisers will test 6-8 different ads using different pictures, text, or audience for less than $100, find the one (s) that work, and then focus solely on those.
Are you thinking what I’m thinking?
Let’s start advertising on Facebook….. Now!
3 Facebook Audiences for your BHRT Practice
This is where we separate the contenders from the pretenders. Those pharmacies that have done their research, helped BHRT patients over and over and over again, and listened to them intently will make a ton of money from Facebook ads, while those pharmacies that have only pretended to help BHRT patients and see only dollar signs with every new patient will lose gobs and gobs of money on FB ads.
Because if you truly know your BHRT market, you will know:
- their age
- where they hang out
- what they read
- who they listen to
- what they’ve tried in the past
- their specific pain points
- their specific hopes and dreams
- their hurdles/obstacles they have to overcome
- who else is helping them
- And more…
Knowing all of that, you’ll be able to write the perfect message and target the perfect audience with a Facebook ad, bringing new patients into your BHRT practice for less than $20 per new patient.
How much more profit would you have at the end of the year if you knew you could add tens or hundreds of new patients to your BHRT practice for the cost of just $20 per patient?
Don’t tell me. I’ll just get jealous.
To get things started, here are 3 potential audiences you could target on Facebook if you want to grow your BHRT practice.
20-mile radius around your pharmacy’s location + Women ages 38-55 + Suzanne Somers, Dr. Oz, or Dr. Andrew Weil
- A really great patient testimony works really well here, hitting on a common pain point and how she used you to solve it.
20-mile radius around your pharmacy’s location + women ages 38-55 + essential oils, homeopathy, or DoTerra
- Again, a really great patient testimony works well here. You can also test a content piece on the use of essential oils for BHRT symptoms and then retarget those that read the article with another ad about BHRT later.
The address of popular BHRT physician’s office + women 38-55 +mobile only.
Of course, those are all just ideas. You may have a few of your own that work much better. Be creative. Test. Track. Find the winners. Eliminate the losers. That’s Facebook advertising in a nutshell.