Improve Store Sales with a Retail Marketing Strategy
In the age of online shopping, running a brick-and-mortar store involves new challenges and difficulties. A successful retail marketing strategy is more important than ever to encourage traffic to your business. Playing to the unique strengths of a physical store is the best way to focus your marketing, but what’s the most effective way to execute it? Read on for our top tips for a successful retail marketing strategy.
Focus on the Front
In a brick-and-mortar retailer, storefront is everything! Think of it as a blank canvas waiting to express what your brand and business stand for and what they mean to you. You want to give your storefront some personality to attract curious customers and convince them to come inside. Make your front displays interesting and inviting and be sure to show off some of your best and freshest wares! However, don’t get too carried away and create displays that are overwhelming or chaotic, which will push customers away.
By focusing on an inviting exterior, your business will market itself and boost the amount of foot traffic to your store.
A knowledgeable and well-trained staff is another must-have retail marketing strategy. With the popularity of online shopping, it’s getting more and more difficult to drive traffic to brick-and-mortar stores. However, one advantage physical stores have over online shopping is the ability to see things before you buy them. With a knowledgeable and helpful staff, shoppers know they can go to your store to ask questions and get guidance on the best product to buy. This kind of in-person customer service and ability to try before you buy is something online shopping can’t replicate. Make these advantages strengths of your store by hiring knowledgeable employees, training them well, and offering employee incentives for great sales, service, and ultimately in-person marketing.
The Price is Right
Another difficulty for physical stores in the age of online shopping is price competition. With retail giants like Amazon offering impossibly low prices, it can be nearly impossible to compete and still turn a profit. When pricing your products, though it’s good to keep online prices in mind, you should base your competition off other physical stores. Customers know that prices will likely be higher in-store than online; if they’ve already decided to shop in person, what really matters is how your business compares to other local stores. Price as competitively as possible while still making a profit and be sure to run sales and promotions. Discounts for returning customers and other kinds of coupons are a great retail marketing strategy because they both advertise your business and entice customers to buy right away.
Also take advantage of seasonal shifts and trends to advertise that you always have the newest products—and sales on older trends that are still in store. Keeping a rotation of reasonably priced new offerings and regular sales and discounts on older options is a strong marketing strategy that will help drive business to your store.
Always Engage Customers
Your retail marketing strategy should also involve engaging the customers. Offer them a branded experience they can’t receive online, and customers will have to return to your store again and again. A great way to involve customers and boost sales is to hold classes or themed events at your store, particularly if you offer one for free. In addition to being an easy opportunity for marketing, after a fun evening exploring your branding and your store, attendees are much more likely to buy something or to return to make a purchase later.
Social media is another important opportunity to engage customers, so make sure you’re on several social platforms and are optimizing your posts for maximum engagement. By involving customers and their experience into your marketing strategy, you can get a leg up on other businesses that focus only on their own branding.
Keep it in the Community
A last consideration for your retail marketing strategy is to use your surroundings. Many or even most customers of a physical store will be local residents. A great way to market to them is to appeal to a sense of local pride or shared experiences. Use imagery and copy that reflect the specific culture, attitude, and appearance of your community and it will draw the locals in. Additionally, offering goods that are personalized or themed to your area makes for both a great advertising opportunity and a highly specific target audience. Without community support it’s difficult to thrive, but with loyal customers your business could become a local establishment. Advertise in local papers, sponsor community events or youth sports teams, or hang fliers on telephone poles or in nearby grocery stores to focus on the customers who are closest to home.
Using these marketing tactics will help increase visibility and drive traffic to your store, bringing you greater success. Next time you want to revamp your retail strategy, remember these tips to help drive sales to your store!
From strategy to execution, let Kraus Marketing take care of all your marketing needs. Contact us today!