September 2025 Monthly Mastermind – Get Rich Giving Things Away For Free
Lisa Faast discussed strategies for growing businesses through free offers, emphasizing the importance of aligning free offers with ideal customers. She highlighted the patient life cycle, focusing on creating awareness, first purchases, and recurring customers. Lisa shared specific tactics like free delivery, free flavoring for pediatric patients, and free antioxidant scans to attract and retain customers. She stressed the importance of tracking results, training staff, and persisting with free offers. Lisa also mentioned partnerships with local charities for donation drop-offs, which boosted community engagement and new patient acquisition. She concluded by encouraging participants to implement these strategies to enhance their pharmacy’s profitability.
Action Items
- [ ] @Lisa Faast – Identify the ideal target customer for your pharmacy.
- [ ] @Lisa Faast – Evaluate potential free offers that could solve problems for your ideal customers.
- [ ] Implement a free charity donation drop-off program at your pharmacy.
- [ ] Train your front-end staff on promoting and executing any free offer programs.
- [ ] Persistently promote the free offers to the right target customers.
Outline
Getting Rich by Giving Away Things for Free: Introduction and Meeting Logistics
- Lisa Faast begins the meeting by ensuring audio is working and expresses respect for everyone’s time.
- She introduces the topic of the meeting: “Getting Rich by Giving Away Things for Free,” and mentions it is the theme for September.
- Lisa promotes the Pharmacy Profit Summit, emphasizing the importance of purchasing tickets from the member link for a discount.
- She reminds participants about office hours every Tuesday at 10am Central and implementation hour with Coach Mike on Monday through Friday at 2pm Central.
Patient Life Cycle and Pharmacy Profit Matrix
- Lisa explains the patient life cycle, starting from awareness to recurring purchasers and raving fans.
- She introduces the pharmacy profit matrix, focusing on low-cost marketing tactics and guerrilla-style marketing.
- Lisa discusses the concept of front-end versus back-end revenue, using examples from various industries like car dealerships and fast food chains.
- She emphasizes the importance of back-end opportunities for profit in pharmacies, such as supplements, add-on therapy, and clinical services.
Challenges and Misconceptions of Free Marketing
- Lisa addresses common misconceptions that giving things away for free will lead to financial loss.
- She explains that free offers should be done correctly to generate profit, using the example of sync programs.
- Lisa introduces the business concept of front-end versus back-end revenue, explaining how pharmacies can make more profit from back-end opportunities.
- She provides examples of how successful businesses like Disney and fast-food chains make more profit from back-end sales.
Specific Free Marketing Strategies for Pharmacies
- Lisa shares specific free marketing strategies she has used in her pharmacies, such as free delivery, free flavoring, and free prior authorization help.
- She explains how free flavoring for pediatric patients helped attract more patients and their families to her pharmacy.
- Lisa discusses the importance of solving problems for ideal patients with free offers, using the example of free antioxidant scans to attract health-conscious individuals.
- She provides templates for bounce-back coupons and explains how to use them effectively.
Community Partnerships and Charity Involvement
- Lisa talks about partnering with local charities to become drop-off locations for donations, which helped her pharmacy gain free media coverage and new patients.
- She explains how this strategy increased OTC sales and built strong community relationships.
- Lisa shares an example of an Accutane kit she offered to patients, which included OTC products to mitigate side effects and educational materials.
- She highlights the benefits of this program, such as increased Accutane prescriptions, loyal patients, and referrals from doctors.
Tips for Successful Free Marketing Programs
- Lisa emphasizes the importance of aligning free offers with ideal customers and tracking the effectiveness of these programs.
- She advises on the importance of follow-up and training front-end staff to effectively communicate the free offers to patients.
- Lisa encourages pharmacy owners to persist with free marketing programs, even if initial results are slow, and to promote them consistently.
- She provides additional examples of free marketing strategies, such as free waters during the summer, and encourages participants to think about which strategies might work best for their pharmacies.
Conclusion and Call to Action
- Lisa concludes the meeting by summarizing the key points and encouraging participants to think about implementing free marketing strategies in their pharmacies.
- She reminds participants about the availability of office hours, implementation hour, and the community chat for further support.
- Lisa reiterates the importance of doing free marketing correctly and offers to help create programs for those who need assistance.
- She thanks everyone for joining and expresses her enthusiasm for the strategy of giving away things for free.