Retail marketing refers to the promotion of goods and services of a retail store. This marketing has many elements in it and they all equally help the retailer in promoting the store. The store’s interior and exterior are very much helpful in attracting people. The behaviour of the staff inside the store also makes people want to come back to the store.
You may remember it yourself if you think about it. By this point in your life, you’ve been to many retail stores. All these stores have something unique about them. But, which are the ones that you remember the most? You may remember those stores that had some cool interiors. You could see that the walls inside have beautiful designs on them and the colours were also pleasing to the eye.
Apart from these interiors, the way the staff members communicate with the customers is also important. Many customers come into your store knowing what they want. They just don’t know where they’ll find it. This is where your staff members come in. It’s their responsibility to guide the customers to the product that they need.
It’s not only this responsibility that they should’ve in them. They should also be friendly to the customers. There’ll be times when certain customers may come in and try to engage in an argument. This is where the staff members have to maintain some peace. They should listen to the concerns of the customers. Then, they should try to find a solution to that problem.
Read more in this article to know about the strategies and ideas you should use to market your retail store properly.
In pochi punti:
What Is Retail Marketing?
This is the type of marketing wherein the businesses make efforts to attract more people. They want these people to engage with their brand, buy products, and eventually increase their sales. This type of marketing encompasses a range of services, all of which aim at making people more aware of a particular brand.
There are 4 important factors of retail marketing. These factors include:
- Product: Retail stores have many types of products. It doesn’t matter what kind of products you’re selling, you should know about them well. When the customers would come looking into your store, you should be able to guide them. This is how they’ll know exactly what they want and whether you have it with you or not.
- Price: In retail marketing, you’ve to keep your prices to the point where customers will be satisfied with them. If you keep the prices too high, customers would go to the competitors. Whereas, if you keep them too low, it’ll be difficult for you to make a profit.
- Promotion: When it comes to promoting a retail store, it’s all about making connections with the customers. You’ve to make efforts to spread awareness about your brand. You may ask your customers to share some product reviews on their social media. You can bring in more customers by engaging with them on social media platforms. A retail store promotion can have different objectives. You may do it for increasing sales and to have brand equity.
- Place: Place refers to two elements. One of them is the actual physical location of your store. The other element is the online presence of the store. As a retail store owner or marketer, you should make both these places welcoming. People should easily be able to find you in the virtual and real world.
The Best Strategies
Marketers for retail stores have to work with certain planned out strategies if they want to attract customers. Not all retail stores can have the same strategies. When you’re planning them, you should think of your business as well.
Following are some of the best retail marketing strategies that you should implement in your store.
- Offer Wi-Fi: By offering free Wi-Fi services to your customers, you can also promote your products after their sign in. This is the easiest way by which your customers will keep on coming back to you. One benefit of provisioning Wi-Fi services is that the customers will be busy. So, when your staff is attending to other people, the customers can do their business on their phones without being frustrated and asking for an employee.
- Office Events: You may host a few events in your store to attract more people. The event could be about anything. But here, people will have a chance to get to know more about you. They can try out some of your products in the event and they may come back to buy these products.
- Use Experiential Marketing: Through experiential marketing, you’ll make the experience even more memorable for the customers. In retail marketing, this technique helps in improving the overall shopping experience for them. You may add some games in your waiting area for the customers. You can offer them some treats or snacks.
- Customer Feedback: Use some survey forms. Ask your customers to fill out these forms and write their honest opinions. You may ask them to fill out this form when they’re leaving your store. It’s better that they do it at the store because they’ll forget to do it when they’ll go back home.
Top 5 Retail Marketing Ideas
As a marketer for a retail store, you need marketing ideas that can make you stand out from other businesses. If you’ll think too much about competition, you won’t be able to focus on the real task. That’s why your main should be to focus on your customers. Competition is healthy, but don’t let it interfere with what’s needed.
Listed down below are some business ideas that you’d need to market your retail store successfully.
- Through Facebook Live, you can do an office tour. When you’re doing the tour, you should first introduce all your employees. They should all say something about their work and responsibilities. Then, you may talk in length about your products and how would they be helpful for people.
- You should make a list of all your potential customers. Then, to those customers, you should send some product samples. The purpose of this is to let them know how useful the products are. This would also help you in building customer loyalty. In addition to that, the customers would also get to make a decision about buying your products.
- When it comes to marketing techniques, you should listen to what your customers have to say. Here, you can make use of Google reviews to see what people are saying about your business. You should appreciate the people who’ve thanked you. And you should also address those people who’ve expressed some dissatisfaction.
- In retail marketing, word of mouth is as important as Google reviews. Many people would buy products if they’ve heard about them from a known person. You should ask your customers to let other people know about your products too.
- Ask your customers to share their reviews online as well. They can use their social media platforms to talk more about your products.
Top 5 Retail Marketing Examples
Here’s a list of the top retail market examples. Some of these brands paid more attention to their digital marketing efforts. Whereas, some brands used strategies and ideas for their in-store marketing.
- Amundsen Sports
Amundsen Sports too made use of digital retail marketing for their brand. They knew the brand image that they wanted to create. After failing at their efforts, they used email marketing tools to create better emails.
Divatress is a brand that was having trouble getting its customers back. Their customers abandoned the carts and never got back to them. The brand then changes its strategy and used SMS to get back to its customers. They could soon see the change as now people came back and completed their shopping.
This brand was experiencing big losses in its retail stores. But they knew that their online sales were at a high. So, in their new partnership with Walmart, Gap made even more progress. With this partnership, they got more customers that were loyal to Walmart.
- Massimo Dutti
Window displays have always been a huge part of retail marketing. It’s the simplest and easiest way to catch people’s attention. People could be walking or driving by your store and they can look at your products this way. When you put products on the window display, make sure that there’s proper lighting in there.
The in-store events that you host can do wonders for your business. These events can bring a whole new set of customers to you. Rose St. Trading Co. did something similar by hosting a book signing event in their store. After the event was done, they even talked about it on their social media platform.
Retail Marketing refers to those practices wherein a retailer brings the products directly to the customers and also promotes them. When the retailer is selling these products, it’s important that he or she sells them at the right price.
The right price here means that the retailer should sell them at the price that customers prefer. If you’re selling cushions, then these cushions should be of high quality. But, they should also have a decent price. If the customer feels unsatisfied with the price range of the product, they’ll move on to the next retail shop. You can’t let that happen because, in the longer run, you’ll lose customer loyalty as well as your sales.
Therefore, the prices that you should set for your products should be such that the customers feel satisfied with them.
More than the price, you’ll also need some other attractions so that customers can keep coming back to your store. You should implement many strategies that would make your store even more popular among people. One way to do that is by offering free Wi-Fi services to your customers.
Then you should give them a memorable time whenever they’re in your store. In order to make people more aware of your store, you should give them a virtual tour. On this tour, you should introduce yourself and your staff members. After that, you can talk about the products that are available in your store. Through the live video, you’ll give them some helpful insights.
What strategies do you use? Did you like the list of ideas we mentioned? What products do you sell in your store? Tell us more in the comments below!