PharmEasy is an Indian online medicine delivery platform and a health-tech start-up. By providing easy delivery of medicines at the doorstep, the company made great progress in making healthcare products accessible in India. This online pharmacy platform has gained immense popularity and attention since the COVID-19 pandemic. One of the reasons behind the popularity of this brand is its effective and engaging marketing strategies.
What’s the business model behind PharmEasy?
The business model of PharmEasy is pretty straightforward. Founded in 2015, the company aimed to make healthcare products and diagnostic services affordable and accessible in India. For this, the company collaborated with licensed pharmacies to supply medicines via pan-India delivery. Today, it operates in 2500+ cities with over 10,000+ retail stores, and 25 million registered users. After acquiring Medlife and Thyrocare, it has become one of the biggest online pharmacy platforms in India.
The primary services offered by PharmEasy include:
- Online consultation,
- 24*7 Medicines delivery,
- Diagnostic Tests,
- Healthcare products from registered and trusted pharmacies.
What was PharmEasy’s COVID-19 Marketing Strategy focused on?
In India, a startup like PharmEasy during the pandemic was nothing less than a boon. Every ad and marketing campaign was targeted at making the process of buying medicines easy and accessible. At a time when people could not go out of their homes to buy medicine, PharmEasy raised its brand awareness by creating sensible advertisements surrounding COVID-19’s lockdown.
Prominent marketing strategies that made PharmEasy stand out.
PharmEasy utilizes a solid mix of 4Ps –– product, price, place, and promotion. The product marketing strategy focuses on being the one-stop solution for all medical and healthcare needs. The prices are strategically designed to be affordable by using competitive pricing benchmarked against neighborhood pharmacies. The lack of a brick-and-mortar presence allows the company to do cost-cutting and sell products at affordable rates. The online presence and offline channels allow PharmEasy to maximize its reach not only in metro cities but in rural areas as well.
One of the most commonly used promotional strategies by Pharmeasy is TV ads and commercials. The company uses popular songs for brand recall value in their TV ads. One of the ad slogans is, ‘Pharmeasy, Pharmeasy, take it easy Pharmeasy’.An impressive attempt to get brand recognition. Another ad ‘Bhatak Nritya’ focuses on the ease of getting medicines through Pharmeasy at the doorstep rather than having to wander around the city.
The company effectively uses YouTube as a medium for its social media marketing. By roping in Bollywood actor Amir Khan, the ad focuses on the same-day delivery of healthcare products. This campaign raised awareness among families that they can buy medicines and healthcare equipment from their homes.
The Advent of meme & influencer marketing
Meme marketing is a fantastic strategy to grab the attention of the masses, especially youth. Their social media posts and engaging content helped create awareness with a pinch of humor and quirk. Influencer marketing is another most sought-after method to increase the traffic and conversion rate. Through social media influencer collaboration, PharmEasy has successfully promoted itself among its target audience. Among other deployed marketing strategies are the use of content marketing, e-mail marketing, and digital ads.
Initially, one of the most effective marketing strategies adopted by PharmEasy was investing in cricket sponsorships. The company gained notable popularity with sponsorships. The ads ran during the World Cup which got significant attention from the viewers. With time PharmEasy became one of the trusted and reliable brands in the e-pharmacy industry.
Want to buy PharmEasy shares?
PharmEasy is on its way to becoming a leader in the Indian mobile health solutions market. With fewer competitors’ penetration and unicorn status, PharmEasy is a reliable online pharmacy. By investing in PharmEasy unlisted shares, you can diversify your investment portfolio. Check out PharmEasy share price today in the unlisted stock.
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