9 Best Retail Marketing Strategies
Published 10:31 am Wednesday, November 13, 2024
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Do you have a retail business and want to increase sales? The best retail marketing strategies are how. A brick-and-mortar small business can accelerate or create momentum using marketing messaging at the right time. Not all tactics are successful, and neither will every marketing campaign be a winner.
Here are some of the best retail marketing strategies for encouraging sales, showcasing products, and building connections with new customers.
Launch a Customer Loyalty Program
In retail, repeat sales are fairly common. Reward your repeat customers with a loyalty program offering price cuts and exclusive perks. Most retail loyalty programs either use a points-based system or have tiers with different benefits.
When you launch a customer loyalty program, aggressively promote it with your marketing and in-store digital signage software. Attract sign-ups organically. Such a program strengthens the bond with your customers.
Create Unique Product Ads
Especially if you sell products not found in many other places, create unique infographics and images. These can be utilized in-store on digital signage, social media, your website, and elsewhere. Product marketing can also be featured in simple, short video marketing shared on social media. Look at ways to create a bond between the customer and the product, facilitating this by telling a story with colour and tone.
Encourage Customer Reviews
For new retail stores and retailers specializing in a specific product, encourage your customers to leave reviews on social media and Google. These are displayed for the world to see. Positive reviews build trust with new customers.
Respond to each review and show appreciation, even when the feedback is negative. Always conduct yourself professionally; if there are negative comments or reviews, do what you can to resolve them and make them right.
Engage in the Local Community
A retailer who participates in local events, sponsors community initiatives, and makes charitable contributions is marketing even when they don’t know it. This can help increase brand visibility.
Any significant community participation can also be highlighted on social media, showing off your community spirit and building a positive brand image. This can even extend to joining local business associations and Chamber of Commerce.
Don’t Overwhelm with Too Many Offers
Going overboard with discounts, promotional codes, and sales in email marketing, social media, or retail stores is easy. Unless you’re a grocery store with a new flyer every week, keep your offers simple and limited to the best deals. This doesn’t overwhelm and presents information in a way your customer will most likely retain. Promote your best deals with clear messaging that includes the exact sales dates and any special terms that apply.
Bundle and Market Complementary Products
Bundle complementary products to increase average sale value. You may not even need to discount the price, though you can do so as an added incentive. Products that complement one another, especially if they’re small add-ons to a larger product, can help you boost your sales.
Another way to go in addition to bundling is offering an additional product at 50% off. This is done frequently in retail clothing stores to, once again, increase the average sale value.
Unique Product Displays and DĂ©cor
When someone walks into your store, the marketing journey does not end. You’re still marketing until a customer reaches the cash register and concludes their purchase.
The art and colours on the wall, the digital signage used, and the unique product displays all say a lot about your store, indicating the quality of your products and the feel of your brand. Focus on creating a memorable in-store experience that attracts potential customers to see what’s happening.
Host Events or How-To Workshops
An event or workshop brings people into your store. It lets customers know where to find you; while inside, they’re more likely to purchase something. What you host can be educational and tied to your products or something unrelated, such as live music. Events can be promoted by email and social media.
Something like a workshop provides value to the customer without directly marketing them for sale. It’s smart to create brand awareness while gently suggesting a purchase.
Run a Contest or Giveaway
Run a contest in-store and on social media. Offer a prize or incentive that appeals to your target audience. Encourage participants to like and share your social media posts or pursue other actions, such as signing up for an email newsletter.
Contests create excitement and positive conversation around your brand while expanding the number of people who see your marketing. Make it fun and invest a little in marketing the contest. If it goes well, consider doing it regularly.