There are four components that encompass retail marketing and strategy which is called the “4 Ps”: Product, Price, Place, and Promotion.
Product refers to the physical item being sold while price includes pricing strategies like everyday low prices or implementing pricing psychology with $9.99 etc.; place can refer either where you’re selling your items (location) but also what platform you use for sales; finally, promotion encompasses many aspects of advertising such as social media posts on Facebook or Tweets on Twitter or SEO, search engine optimization to be found on the internet.
- Location, location, location – the right place
For any retail location that is dependant on foot traffic, anchoring your business to a location that drives traffic is the pinnacle thing you can do. Not only does it build visibility but makes you easily accessible as an additional stop for shoppers. If you are in a market where retail space is at a premium and you don’t have the luxury of an affordable, great location, then marketing is essential to increasing visibility and foot traffic.
Unless you are a destination store, such as a mall anchor or garden center, marketing your business can make or break your success. Even for destination stores, traditional and digital marketing can build a brand and passionate customer base.
2. The stickiest brand experience
Stickiness refers to how long someone spends at your website, or in your store, or engaged with you or your product. Sticky Marketing would be any interactions that encourage people to stick around longer and stay loyal for future transactions.
Are you delivering an experience that makes people hang around, purchase, and come back? Are customers engaged with your brand?
Can you draw customers back to your store more frequently and deepen their relationship with your brand, products, and the retail experience you’re providing? Here are a few ideas to get you thinking about how you can create stickiness with your retail store.
- Create an exceptional customer experience
- Offer something new or different
- Up-sell and cross-sell
- Create and increase lifetime value to your customers
- Develop loyalty and referrals
- Create a tailwind for your business
- Differentiate your brand
- Do good for your community and the world
- Fuel passion
- Use digital marketing; email, SMS, social media to keep your brand top of mind
3. An amazing digital marketing presence
From Facebook ads and Instagram posts to AdWords and a strong eCommerce presence, the things you do online may also drive in-store traffic. See to it that you’re measuring your efforts on the digital marketing front by monitoring results from these channels so they can be used effectively as part of an integrated campaign with other traditional forms of advertising like print or television advertising.
Find out what platforms work best for you, not just by seeing which ones have the most reach but also based on who is using them. For example, Instagram has more than 800 million daily active users so it’s smart to use that platform if your customers are there too. But don’t forget about other powerful channels like search engines or Pinterest boards either.
4. Design your website for SEO
Harness the power of the internet when you get the top local and national positions on Google. Web design built for great SEO performance both local and national SEO helps businesses succeed in the modern age of marketing and advertising. Create a winning customer experience with your company’s brand message resonating through every aspect of your website and digital marketing platforms.
5. Keep it fresh and engaging
Creativity and original ideas can make your brand stand out. Here are 10 different event ideas that you can bring exposure and traffic to your retail business.
- Community events that do good things
- Workshops & classes
- Launch parties for new products
- Meet an expert, influencer or local celebrity
- Parties, parties, and reasons to celebrate
- Events that attract interest groups
- Runway shows
- Honor local heroes and amazing stories
- Take your store on the road as a pop-up shop to local businesses, community groups, schools, and events
6. eCommerce web stores
Scale your brand nationally, even globally with an eCommerce store. Take your retail experience online to expand sales. The top eCommerce platforms are:
- Amazon store
- Ebay store
- Facebook shop
- Wix stores