4: Define Your Budget & Resources
According to the NCPA, pharmacies in the top quartile of the NCPA Pfizer Digest spend ½% of gross sales on marketing and advertising. Determine what dollars you can commit to marketing and advertising initiatives, and how you will manage the execution of these initiatives. Print out these charts to get started.
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Gross Annual Sales |
Percent to Spend on |
Total Annual Marketing Budget |
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DETERMINE COSTS
Now that you have committed a percentage of sales to your marketing and advertising budget, you will need to determine what you can undertake in the coming year.
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Marketing Tactic |
Cost Per Month |
Setup and Miscellaneous Fees |
Total Annual Cost |
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BE REALISTIC
How much time will you be able to devote? What other resources can you bring to bear? Are there employees who can help execute on your marketing strategy to lighten your load and ensure that you market consistently from month to month? List the marketing activities that you feel confident that you can accomplish each month and how you will ensure this happens.
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Marketing Tactic |
Estimated Monthly Time Investment |
Responsible Employee |
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2. |
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3. |
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4. |
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