Online retailers such as Amazon and Alibaba are investing in brick-and-mortar stores, even though online sales still account for a large percentage of all consumer purchases. If you’re a brick-and-mortar store, marketing your retail store is more important than ever. Marketers recommend some of the most effective and popular channels and tasks.
What is retail marketing?
Retail marketing is a process and plan for bringing customers to retail stores. Eric Grindley is the founder and CEO at Esquire Advertising. He says that whether you have a brick-and-mortar store or an online shop, your goal is to turn your audience into satisfied retail customers.
Business.com contributor Grindley said that “retail marketing includes a variety of strategies and tactics depending on the retailer’s location and industry, their inventory, and customer base.”
What are the types of retail marketing?
Grindley says that the range of strategies for retail marketing is wide. Expand the reach of your campaigns by using the tools at your disposal.
Digital Marketing
You can use online platforms like social media, websites, and email to market your product or services. You can also use digital marketing campaigns to build brand awareness with consumers that you have analyzed as potential customers. You could create a Facebook page or an Instagram ad for your brand.
Print Advertising
Ads, magazines, newspapers, or brochures are used to increase brand awareness. Direct mail allows you to select who will receive your company’s promotional materials in their mailbox. You can use this retail strategy to send messages to customers you believe will become participants or buyers.
Public Relations Services
They are a valuable resource. They can assist you in improving your brand’s image and increasing consumer awareness through press releases, event planning, and reputation management.
Influencer Marketing
Influencers on social media can be a great resource. Influencers are as popular today as celebrities. You can reach more consumers by incorporating your brand into their social media posts. Many of these influencers have millions of followers.
Also read: How to Build an Effective Influencer Marketing Strategy
Word of Mouth
It will never go out of fashion to tell someone about your company or have an event where people talk about it. The power of word-of-mouth can be as strong as sending an email. It also allows for a more personal and intimate customer experience.
Grindley explained that different types of retail marketing are available depending on the type and size of the retailer. This could be a department or supermarket, a franchise, a shopping mall, an e-commerce site, etc.
Retail marketing strategies for Success
These tips will help retailers plan their marketing strategy to achieve long-term success.
1. Keep accurate information online.
Retailers are not the only ones who use the Internet to reach out to customers. Customers look for information such as phone numbers and directions. Make sure the information is up-to-date on online directories such as Google and Yelp. You may consider using marketing automation software that tracks directories and alerts you when there are errors.
2. Create an online catalog
Pre-shopping is used by more than half of online shoppers. People also use the internet to check prices and reviews once they are in the store. Even if your business does not sell online, a catalog with relevant keywords on your website can be a great marketing tool to attract customers, especially if your prices are lower than the competition.
3. Use loss leaders and bundles.
You can attract customers by offering a deep discount on a particular product or by bundling two products that are not as popular and discounting them together. It provides the promise of a bargain, the urgency to limit, and the expectation of exclusiveness.
4. Create a stunning window display.
Retail marketing experts all agree that a window display with enticing products is the best way for you to attract street customers. Showcase your best products and include a big attraction (such as a bundle or items at 50% off). Reflect on your store’s unique style. Displays that are dull will turn away window shoppers who may be tempted to buy.
5. Host events.
Online venues cannot compete with other events like seminars, fashion shows, and book signings. Experts suggest that monthly events are a good idea, but they don’t need to be planned in detail. Convert events into sales. If you were to offer a discount on athletic clothing at your “Spring Into Fitness”, this would increase sales. You can include limited-time sales, items with limited availability, and coupons that you can use in-store.
6. Create a shopping experience.
There are so many different stores that sell products, it is not necessary to visit a particular store. To attract and retain customers, you need to make them want to visit, stay in, and return to your shop. People will be more likely to visit a store that is clean, has friendly staff, and offers extras to make them feel comfortable.
7. Hire product experts.
Hire or train people who are familiar with the product. Computer salespeople should listen to their customers and recommend the best laptop instead of the latest model. The clerks at the store should be able to give advice on which outfits suit certain body types. The best shoe store staff know how to analyze the gait of a client and find the right shoe.
8. Create a relaxed environment.
Bookstores began competing with Amazon by offering reading areas, and coffee (free or for a fee), to encourage browsing to stay long enough to fall deeply in love with a book.
9. Cultivate familiarity.
Workers who acknowledge and recognize repeat customers go beyond basic friendliness to encourage them to shop more often. Encourage your employees to recognize familiar faces and, when they can, refer back to previous visits.
10. Integrate the online and the physical.
Walmart and other retailers now allow customers to order online and pick up their items at the store. Rebecca Minkoff, for example, has fully integrated their online stores. Women can select outfits, try them on in-store and save them to favorites for later purchase.
11. Leverage social media.
Use social media to promote your unique brand. Although it is great to offer coupons and special deals to followers, the majority of fans on a retailer’s page on social media do not want their money sold. Show off your experience. Make an unboxing or employee model video instead of announcing the new product. Let patrons post photos. Hold contests or shoutouts for customers. Post articles that offer expert advice on your products or services. Engage rather than try to push sales.
Also read: What is Customer Loyalty and How to Improve It?
12. Use a loyalty program.
Most credit card and point-of-sale systems have loyalty programs. You can use these to reward loyal customers by offering discounts or freebies. But you can also collect their contact information to send them a message on important occasions, such as birthdays and anniversaries.
13. Sending targeted emails
Email newsletters have replaced junk mail. Your newsletter will be read if you provide useful and targeted information. Integrate your email with your POS software or CRM to send targeted campaigns based on the shopping habits of customers. You can, for example, create separate campaigns for customers who prefer Macs versus those who prefer PCs. You can personalize the software by sending a reminder six months after a customer buys a printer to purchase printer ink.
Retail marketing tools
Marsello
Marsello is a data-driven retail marketing platform that combines online and in-store sales with consumer data for a better customer experience. It removes the guesswork from marketing by analyzing customer interactions to personalize SMS marketing, loyalty programs, and email campaigns. Marsello’s software is omnichannel, which means it can serve customers better whether they are in your store, on the internet, or using their phones. Marsello’s ROI tracking will help you scale your business both in-store and on the web.
iQmetrix
iQmetrix is an IT company that offers telecom point-of-sale solutions to retailers. Its software offers consumers an intelligent telecom interface that includes contactless payments, a Mobile POS, and mobile payment. It gathers data from consumers in real-time so that you can analyze the impact of your retail store marketing strategy. iQmetrix has an intranet for employees, where they can see their schedules and the latest promotions. iQmetrix prioritizes security and has encryption and tokenization built in.
Emarsys
Emarsys is another omnichannel retail platform that is also dependent on customer engagement to be successful. Artificial intelligence and predictive analytics are used to get feedback from customers. It then analyses and automates workflows based on collected data. Emarsys can be integrated with eCommerce platforms like Magento, Shopify, and Salesforce Commerce Cloud. It combines customer relationship management (CRM) with automation for sending emails to consumers, making social media posts, and developing other online marketing campaigns.
Klaviyo
Klaviyo is a cloud-based platform for retail marketing that helps businesses increase sales through online marketing. You can use its open API or integration directory to integrate your data and personalize your marketing solutions. Klaviyo email segments send your subscribers customized emails based on the interaction they have with your website. The tool also offers sales-based reports with a dashboard, campaign analytics, and tools for tracking conversion rates.
Omnisend
Omnisend is a retail marketing solution that specializes in email marketing and SMS. Retailers can combine their minimum advertised pricing (MAP), personalized, and automated marketing campaigns with their full suite of MAP features to reach their target audience. Even the emails are customized and separated based on customer shopping behaviors. Omnisend integrates with the majority of e-commerce platforms and provides easy-to-use customizable templates for social media and email marketing. It offers SMS capabilities along with email marketing strategies in order to create a consistent experience for customers.
Bottom Line
Find the retail marketing platform which best fits your business needs. From online marketing campaigns to integration and eCommerce capabilities.
Successful online companies wouldn’t be expanding in that market if brick-and-mortar shops still had value. You can compete whether you are a small business owner or you run a large chain. Just remember the basics and use technology to your benefit.
