Stone Drug is an enigma in the modern retail landscape. It has thrived for more than 50 years by exploring cutting-edge technological innovations while keeping one foot firmly rooted in the past. Its pharmacy is as high-tech as they come, but its old-fashioned soda fountain and time-tested customer service are a welcome blast from the past.
The late Glade Stone established Stone Drug in 1960 after graduating in the first class of pharmacy students at the University of Utah. When he passed away in 1991, his son Mike, also a graduate of University of Utah’s pharmacy school, took over the business. Today, Mike’s son Jordan, a graduate of Clayton State University pharmacy school, works there as well.
“It’s a three-generation family pharmacy,” Mike says. “It’s a rare thing.”
Stone Drug sits on Main Street in Spanish Fork, Utah, in a business district that also seems timeless. There’s an insurance agency, carpet store and performing-arts studio nearby, all with old storefront windows lined up against the sidewalk. Customers park along the characteristically wide Utah streets.
Seasons Change
Inside Stone Drug is a soda fountain that hasn’t changed much since it was built. The bar, lined with 12 red stools, is peppered with locals there who order cheeseburgers, fries and shakes. The menu is as classic as the décor.
“Nothing fancy,” Mike says, “but our burgers are 100% pure ground beef, which you don’t find much anymore. We’re known for that.”
It’s also known for its gift shop, which specializes in wedding gifts and seasonal home décor. Its seasonal sales—back to school, Halloween, Christmas and Fourth of July—bring in traffic throughout the year. Customers who aren’t regulars at the soda fountain or pharmacy at least come seasonally to check out new merchandise.
Regardless of what brings them in, customers often leave with add-on items from the convenience offering that fills the rest of the store’s 5,000 square feet. Shelves are lined with candy, snacks, bottled drinks, health and beauty aids and durable medical equipment such as wheelchairs and crutches.
Stone Drug is a family business, but that means more than who’s boss. The 30 employees at Stone Drug aren’t all blood relatives, but they’re family just the same. Turnover among employees is very low. Many have worked at Stone Drug for decades. One employee is 90 years old, still working at the store 40 years after she started.
“We’ve been serving local families for three or four generations now. People are coming to the same place their parents and grandparents have come,” Mike says. “Most of our business is the local old-timers who really support us well.”
CONTINUED: Blending Old With New
Old Blended With New
Mike makes it a priority to give back to the community in return. Stone Drug has been a longtime supporter of Spanish Fork High School athletics and the local Fiesta Days Rodeo. “We sponsor a local golf tournament and give away a bike at the town Easter egg hunt every year as well,” he says.
Local sponsorships are Mike’s primary means of advertising, but he also advertises directly to doctors in the area about the compounding done in the pharmacy, creating specialty drugs to fi t patients’ needs.
“We’re high-tech in an old-time pharmacy,” Mike says. “In any business, you’ve got to keep technology on the forefront. You can’t sit back on your heels. If you fall behind, you’re going to get left out.”
One of the store’s most recent cutting-edge innovations is a Parata robot that dispenses ready-to-use prescriptions. It’s one of the ways Mike is able to keep wait times under 10 minutes. “At big-box pharmacies, it takes that long just to hand in a prescription,” he says.
Keeping things convenient is key to Stone Drug’s success, and it’s part of Mike’s advice to independent retailers of all kinds.
“You’ve got to be aggressive in your approach to buying, selling and customer service,” he says, “especially service. Good service is why we still exist.”
‘Brought to You By …’
As the folks at Stone Drug can tell you, sponsorship is a marketing tool for the masses. Independent retailers might sometimes think it’s not in their wheelhouse, but untapped opportunities for small-scale sponsorship exist everywhere. Stone Drug’s sponsorship of local high school athletic teams, rodeos and golf tournaments is a testament to that reality.
Sponsorship is also a great bang for the buck. In exchange for a contribution, a retailer can garner the loyalty of those immediately affected, build brand awareness through widespread visibility of the retail name and logo, and foster a spirit of community caring that will bode well with customers.
So how do you do it?
- Find Something to Sponsor: Sometimes groups looking for sponsors will come knocking, but most of the time you have to go out looking for them. Consider local sports teams in recreational leagues and schools if sponsoring a professional team is too pricey. Are there charity organizations that are active in your community? What about races and festivals? What groups already have a positive image in your area? Piggyback on their success by associating your name with theirs. If they aren’t actively looking for sponsors, don’t let that stop you. You may be able to pitch a deal that strikes their interest.
- Negotiate Terms: Set specific goals you want your sponsorship to accomplish. Where will your logo appear? How many times will your business be mentioned verbally? Make sure your budget and expectations are clear from the beginning, and prioritize understanding what the other party wants as well. Starting with open lines of communication will go a long way toward keeping your relationship symbiotic.
- Track Results: Is there a way to measure the success of your sponsorship? Go back to the specific goals you set. Can you track the sponsorship’s progress? How many more people know who you are and what you do? Has it affected your bottom line? Use the data you collect to inform improvements you make to your marketing strategy.
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