There is no denying that today’s retailers are currently siloed between brick-and-mortar, digital, operational, and social media marketing techniques. It is a hard place to be. The competition is cut-throat and is being witnessed on almost all frontiers. Particularly if you’re a newcomer to the field, which does not make things any easier. We might have come a long way but there is still more ground to be covered.
Here is a quick primer to some of the most recent and advanced retail marketing techniques that you can use to scale up your business.
1. Harness the Power of ‘Event’-ful Marketing
There is unbridled potential lurking behind hosting events that are geared towards marketing – albeit indirectly. The hosted event does not have to be grandiose – it could be anything from a charity event, to a grand opening of one of your retail stores, to a publicized customer appreciation day. Depending on your retail marketing approach or choice, enterprise or business, you can also opt to hold classes or educational events in your store. In fact, this sets the best precedence of selling your idea/product to potential customers. Remember that getting willing customers to your front door is typically the hardest part of any retail business. If you can find a way of doing this, then you’re halfway towards a big win.
2. Social Media Promotion
It is estimated that over 60% of the world’s ‘retail significant’ population are active users of social media platforms. Therefore, if you’re not making use of social media marketing techniques to grow your retail business then you’re missing out on a huge chunk of your potential customer base. Starting with something as simple as a Facebook page, you can easily oust your direct competitors who are only relying on traditional methods of advertising. You can also go a step further and hold interactive social media contests, promotions, and announce your offline events using your social media platforms. More recently, major platforms such as Snapchat, Pinterest, and Instagram introduced a sponsored ads program that retail businesses can utilize to expand the outreach of their target audience.
3. Find Ways of Connecting with your Target Community
One of the excellent strategies for scaling up a small retail business is by making inroads to the immediate surrounding community. This way it is easier for them to prioritize your store, refer paying customers to you, and, hopefully, end up placing regular orders with you. That’s the reason connecting and getting involved with your target community ought to be a marketing technique that you weave into your enterprise’s operating fabric.
You can also integrate the hospitality facet of your business with a donation program that seeks to give away some of your best products to charity for free. You might also want to factor in sponsoring a local organization or non-profit community in exchange for a rare advertising opportunity or some other form of exposure.
4. Invest in your Public Image
It is 2017. Thanks to a widespread, and somewhat pervasive, social media influence in a burgeoning middle-class society, nobody wants to be spotted walking into a dingy, unkempt or poorly finished retail store. And this is especially true if they are willing to splurge several hundred dollars in one visit. Given a choice more people will be willing to spend more money in a luxurious-looking establishment than a rundown one. So put your retail business ahead of the curve by investing in professional signage, high-quality decor, and strategic window displays.
For instance, pick two or three high-end products that are currently on offer or in-season and make them the focal point of your window display. This way, it will be significantly easier to attract passers-by and potential customers who you will then convert to paying and loyal customers.
The Bottom Line
Any successful retail or hospitality business thrives on only a few things; reputation, popularity, and efficient advertising. In tandem, your retail marketing strategy ought to revolve around these if you’re to stand any chance of breaking through the cut-throat competition.