11 Retail Marketing Strategies That Drive Sales

Retail marketing has been shifting and evolving for the past few decades. From promotional coupons to digital ads, retailers have found success in different ways of connecting with their clients. While there isn’t one perfect strategy that can be applied universally, marketers should take a look at these 11 strategies before they move forward with any new retail campaign.

In-store marketing strategies are a great way to drive sales. In this article, we will discuss 11 retail marketing strategies that drive sales. Read more in detail here: in-store marketing strategies.

A retail marketing strategy is a detailed plan for creating and promoting items in order to attract and retain consumers while increasing sales. Whether you’re a seasoned company owner or just starting out, it’s critical to analyze and establish a retail marketing plan on a regular basis.

Here are 11 pointers to consider while creating a retail marketing strategy:

1. Create Curb Appeal

Looking at the exterior of your business and critically considering the message you’re giving is the first step in developing a retail marketing plan. Because company owners are often hurrying inside to go to work, storefronts are easily overlooked.

The storefront, on the other hand, is the initial impression of your company for prospective consumers and passers-by. As a result, the outside should be neat, inviting, and newly painted, with polished windows and a clean walkway at the very least.

In addition to maintaining a high level of cleanliness, businesses should think about the techniques they use to get people inside. Customers can know you have high-quality, intriguing items if you have a well-designed storefront. Customers will walk right by an out-of-date or filthy shop.

It’s not necessary to go all out. Small, low-cost changes such as a fresh coat of paint or power cleaning your outside brickwork and walkway are possible. Replace obsolete exterior light fixtures, add some planter boxes that may be filled with seasonal plants, and replace your business hours sign with a contemporary door decal.

Window Displays Design

Developing your retail store’s curb appeal requires creating engaging window displays.

Window displays are a vital aspect of any retail strategy, particularly for shops located on a busy street. Choose a theme that appeals to shoppers when developing a window display, such as a holiday or seasonal theme. To make your exhibit aesthetically engaging, use complimentary colors and a variety of heights and depths.

This chocolatier’s festive window display catches attention and lures passers-by.

Put up Storefront Signs

Outdoor signage is a crucial part of any retail marketing strategy. Install a storefront sign with your name that may be seen from across the street by automobiles and pedestrians if possible. For visitors strolling by your shop who may be too close to view your bigger overhead sign, use smaller signs at the front entrance and on the windows.

According to one study, 80 percent of consumers would prefer to shop at a new business with a welcoming façade versus one without. Adding storefront signage to your store’s façade might be the difference between a passerby and a paying client.

Use a mix of window and temporary A-frame signage in addition to your permanent storefront sign to attract consumers’ attention from all angles. (Photo credit: Pinterest)

Invest in Outdoor Lighting

Another important part of any storefront retail marketing plan is lighting. It is critical to have a well-lit entrance and walkway for client safety. Additionally, having your sign and window display lighted up at night aids clients in noticing or finding your shop.

You may also be inventive with your lighting. Dim your store’s lights to reflect the mood you want clients to be in when they utilize your items, for example, if you offer eveningwear.

2. Make the Most of the Space You Have

It’s not always essential to invest a lot of money or endure a total shop renovation when reworking your retail marketing plan. You may enhance the customer experience and increase sales by taking little actions to utilize the space you currently have, such as replanning your shop layout or rethinking your point-of-sale (POS) display.

On make the most of your area, download our free step-by-step guide to developing a retail layout.

Make Your Retail Displays More Organized

You want your products to perform some of the heavy lifting for you. Product placement may attract customers, direct them around your business, and boost total sales.

Follow these common criteria while putting up your store display:

• At the entryway, display fresh and seasonal products: Seasonal or holiday displays, as well as popular goods, may entice clients; keeping the front of your business fresh also provides regular shoppers something new to look at.
• Place traffic-driving goods in the rear of the shop: Place your best-selling items or sales racks at the back of the store so that buyers must stroll through and view all of your other things.
• Stock tiny, low-cost products like as sweets, toys, cosmetics, or technological accessories at the checkout counter so consumers may pick them up while they wait to check out.

The two most critical aspects of retail marketing are keeping your displays clean and changing them often. Customers should always be able to find what they’re looking for, and fresh displays keep them coming back to see what’s new.

Make Money With Your Point-of-Sale

The point-of-sale (POS) is the counter or area where consumers make purchases. Consumers will be encouraged to pick up things while waiting in line, therefore high-end boutiques and corner shops alike may monetise this space by exhibiting smaller, comparatively less costly products that customers may have forgotten they needed.

Candy bars, mints, gum, magazines, and batteries, for example, are often seen on grocery store checkout counters. Wallets, hair accessories, and jewelry may be found at clothing shops.

Many wholesalers that sell these smaller products provide complimentary counter displays for point-of-purchase (POP) sales. Use those free displays to experiment with various product placements at the counter until you figure out what works, then create a more beautiful display to fit the rest of your business.

Establish a Relaxed Atmosphere

Customers that stay in a shop longer spend more money. Create a pleasant store atmosphere to encourage customers to relax and take their time. If you sell clothing, make fitting rooms that are easily accessible and well-lit, as well as pleasant waiting areas for friends and family.

Take a page from Costco or Lush and set up sample stations so clients may try out different items. Play music that you’ve carefully selected, and make sure your business is well-lit.

Making ensuring the shop is accessible is a crucial component of establishing a welcoming experience. Create broad aisles and an area of the checkout counter that is no more than 36 inches from the ground, making it accessible to those in wheelchairs.

Don’t forget to use your outdoor space. Establish a Relaxed Atmosphere with a few chairs and some greenery.

Boost Brand Engagement in-Store

Another retail marketing strategy is to include and engage your workers in consumer interactions.

When it comes to nonverbal involvement, merchants can:

• Showcase social media handles: Many establishments and boutiques have displays with simple signs encouraging customers to follow their Instagram handle or Facebook account; letter boards are a cheap and efficient way to do this.
• Offer discounts in exchange for client feedback or check-ins: Give customers a little discount if they leave a review or like your page on Facebook.
• Organize a giveaway competition: Set up a jar at the register to gather client information in exchange for a chance to win a seasonal goods package.

3. Provide Customized Products

Custom items are probably one of the first things that come to mind when thinking about a retail strategy. Having items that buyers can’t get anywhere else is an essential step in developing brand loyalty, name recognition, and can be a terrific sales generator for your company, whether you’re producing a patented idea or just launching a basic private label line.

Custom items not only set you apart from the competition, but they also provide your clients a one-of-a-kind and unforgettable experience.

Offer private label or white label products for sale.

Private label items are considerably simpler to sell than bespoke products, yet they provide many of the same advantages. Items made by a supplier but marketed under your brand name are known as private label products. Skincare, cosmetics, food & groceries, kitchen, décor, accessories, tools, and electrical devices are among the most popular private label products.

The private label items of Trader Joe’s are well-known. The majority of Trader Joe’s merchandise are offered under the retailer’s private label labels.

Private Label Brands Can Help You Build Brand Equity

When individuals use things with your brand or product line name, it reminds them of your shop every time they use it. These reminders increase client confidence, prompting them to purchase more high-quality items bearing your brand.

Furthermore, shops may normally earn more money from private label items since they are typically cheap to create but can be marked up to a much higher price because customers won’t be able to obtain the item elsewhere.

4. Establish an online presence

Your online presence is a critical aspect of building a retail marketing plan, whether you have an ecommerce shop, a brick-and-mortar store, or mobile sales. An internet presence increases sales prospects, particularly for consumers who do not reside near your business or who are unable to visit during store hours.

Plus, if you don’t have an online presence for your retail business, you’ll be missing out on the over 2 billion consumers that buy online. Engaging with clients online also helps to maintain your company in their thoughts so that they remember you when they need to buy anything.

Make use of social media

Every store should be active on a few important social media platforms, including Facebook, Instagram, Yelp, and Google.

It is critical to have a current Google My Business account since it allows consumers to locate correct contact information on Google. You can also view and reply to consumer comments if you’re active on Google and Yelp. These two websites are critical in assisting potential clients in finding your company.

Instagram and Facebook are excellent for keeping in touch with existing consumers. Instagram, in particular, is particularly beneficial since Instagram Stories allows you to communicate directly with consumers. Many shops now utilize Stories to show off new items and provide behind-the-scenes video to their consumers.

Facebook is an excellent platform for promoting your store’s events and new goods. For bringing in new local clients, Facebook Advertising may be a highly successful aspect of your retail strategy. Snapchat has also shown to be an effective retail marketing tool, particularly for attracting younger customers.

All of these social media outlets may be used to fine-tune your message, test pricing, and highlight your greatest items. Analyze the outcomes of your social ads to identify which message and price combinations are most effective.

Constructing Digital Sales Channels

Having an internet business is necessary to appeal to today’s customers. 88 percent of adults in the United States buy online. If you don’t have an internet business, you’re losing out on a lot of sales from people in your neighborhood and across the country.

Fortunately, with the correct tools, setting up an online business is simple. Shopify is a low-cost ecommerce platform with ready-to-use templates, allowing you to get your shop up and running quickly. Shopify also makes it simple to monitor and fulfill orders, manage items, and sell on social media platforms like as Facebook and Instagram.

One example of a Shopify store is Leifshop.com.

5. Make an investment in local SEO.

Search engine optimization (SEO) isn’t only for online stores; brick-and-mortar stores can and should do the same.

Prioritize local SEO—you don’t have to compete with tens of thousands of other companies for the same keywords. Instead, look for terms that your target audience would type into a search engine in your location. Create landing pages that target certain places in your city or town, for example, in addition to your website homepage.

Searches for “Near Me” should be prioritized.

According to Google statistics from 2019, the number of searches that contained “near me” climbed by more than 200 percent. Optimizing your website for “near me” searches and Google Maps is critical for attracting more customers to your physical location.

Create or update your company’s Google My Business profile to get started. Your company name, address, opening and closing hours, contact information, images, and a description with keywords should all be included in your profile. Consider using local citations as Google’s extra hints.

Maintain a uniform look and feel throughout your website and any third-party apps. Encourage consumers who visit your shop to post evaluations on your business profile to make your listing more relevant. Local SEO tools may also automatically optimize your site for you and provide tips on how to increase your rankings.

6. Run Ads that are Geo-targeted

Running location-based ads is one of the most effective ways to attract more customers to your business.

Simply said, unlike generic advertisements, geo-targeted ads exclusively target those who reside in a specified geographic location, ideally those who live in the same town or city as your actual business.

It goes without saying that this ecommerce marketing method works, given that firms are estimated to spend more than $32 billion on location-targeted advertisements in the United States alone by 2023.

People in the Area of Your Store

To begin running geo-targeted advertisements, you must first register a business account with the platform from which you want to run the ads. This might include, but is not limited to, Facebook, Twitter, Google, Instagram, and/or Snapchat.

You may build advertising to display to individuals within a certain radius of your shop after your account is set up.

You can, for example, target people within a 10-, 5-, or 2-mile radius of your store. The value of the bid varies based on the radius you choose. This is a great way to advertise restaurants’ click-and-collect services or online ordering, which is particularly useful during COVID-19 outbreaks.

Advertise During Major Local Events

Running geo-targeted advertisements during a huge or noteworthy local event is another strategy to enhance foot traffic to your retail shop.

For example, if you own a music shop and see that a well-known singer or band is playing at a local venue, you may rapidly run advertising that target the concert’s audience.

This method is especially effective if you’re near an airport, a stadium, a university, or any location where a certain group congregates. These location-based adverts may also be used by retailers over the holidays.

7. Come up with a pricing strategy.

Another crucial aspect of your retail strategy is how you price a product. Customers may be turned off and sales may be lost if your pricing are too high. You may make a lot of sales if your pricing are too cheap, but you won’t earn any money.

Keystone pricing is used by many shops and internet vendors to price their items. Keystone pricing is a common markup of 100%, or twice the wholesale price. It’s typical retail practice to sell a thing for double what you bought for it.

Take into account your market position.

There will be times when you need to stray from the core price model. If a product is selling very well, for example, you may be allowed to raise the price. You may be able to demand greater costs for private label or bespoke items if you have a large number of them. If your rivals or internet firms provide identical items at a cheaper price, you may need to cut your pricing to remain competitive.

Analyze your competitors’ pricing to determine how they set their prices. If you discover that all of the other retailers in your area are selling the same things for the same price, you can consider adding something unique—for example, free modifications, no-questions-asked returns, or complementary gift wrapping—and then charging more.

Speaking with your consumers may also provide you with qualitative information about how to organize your price.

Take advantage of promotional pricing.

To increase traffic and sales, many companies employ promotional or discount pricing. Discount rates might result in minimal profit margins for small enterprises, but they can successfully attract consumers or clear out inventory. Retailers often use seasonal specials and coupons as promotional pricing methods.

8. Maintain Customer Contact

It’s critical to think about how you’ll remain in touch with consumers after the transaction while establishing your retail strategy. Your first sale is just the start of a potentially lucrative and long-term partnership.

Email marketing is one of the most straightforward means of keeping in touch. With a contemporary POS system, you may capture consumer contact information at the point of sale and follow up with them thereafter.

Don’t be afraid to send emails to your customers. In reality, your most loyal and high-spending consumers are likely to want to hear from you more often. More than half of the consumers polled preferred that firms contact them through email.

A deal or coupon does not have to be included in every email. Keep consumers up to date on shop or general news by celebrating accomplishments.

Make sure your message isn’t one-sided while developing your retail marketing approach. Customers want to know that they are being heard. Responding immediately to social media posts and emails might be an example of two-way communication. Taking a proactive strategy and asking for consumer feedback after each purchase, on the other hand, may be preferable.

Customer surveys are crucial to any retail strategy because they allow consumers to provide you unvarnished input on how you can improve. Simple customer satisfaction surveys with one or two questions and an open-ended place for further comments are possible.

Customer surveys are also used by certain shops to gauge interest in new product lines, events, or extended hours of operation. Customer feedback removes some of the guesswork from attempting to improve your company and gives consumers the feeling that their input is appreciated.

Retail events work because they provide your consumers a reason to spend while also making them feel appreciated by providing a goody bag, early access to new items, or a special discount. Events increase foot traffic and provide you an excuse to send out a lot of marketing and promotional material.

A customer loyalty program is a terrific method to encourage repeat purchases while also learning more about your most loyal customers. You may also add referral awards into your loyalty program to increase word-of-mouth marketing, which will help you retain customers while also attracting new ones.

Furthermore, a customer loyalty program allows you to construct shopper profiles that may be used for product marketing and other tailored marketing activities. Depending on these profiles, associates may provide personalised suggestions, and you can automate marketing campaigns and product recommendations based on their actions.

9. Grow Your Business Through Partnerships

When local companies work together, they prosper. Consider how you may collaborate with nearby firms while building your retail marketing plan. Exchanging business cards with other area retailers and cafés may be as easy as that. You might also collaborate on events and community outreach.

In Stratford, Connecticut, for example, the creator of Mellow Monkey Decor collaborated with other local companies to establish the Stratford Lower Loop, a marketing tool that turns the area’s small stores into a destination.

Mellow Monkey Decor designed the Stratford Lower Loop to attract visitors and consumers to local businesses.

Increase the number of sales channels available to you.

Retailers can also use local businesses to Increase the number of sales channels available to you.. Work with other businesses so when they host events, you can sell your products in their stores.

Participate in your local Chamber of Commerce and other community groups to find out about vendor and sales possibilities at local events. Being visible in your community—outside of your store—will help to raise awareness of your company and increase brand recognition.

Other Retailers’ Wholesale Products

Consider selling bespoke or private label items to other local companies if you produce them. This is especially useful if you’re in a tourist town or a college town, and your items are representative of the region.

The Two Oh Three, for example, is a Connecticut lifestyle brand that offers clothing and accessories with different local trademarks. It offers its items online and at events, as well as to other local shops for resale.

The Two Oh Three is an online store that also sells to other small companies in the area.

10. Transform your coworkers become marketeers

Associates can and should work as marketers and brand advocates for your store. They are the ones who have the most contact with your clients. With the appropriate sales team in place, you can provide a memorable and personalized client experience while also increasing sales.

Assemble a team of associates to serve as the face of your company.

Humanize your business by showcasing your employees. If you have a brick-and-mortar store, your regular shoppers already know your store associates and will appreciate seeing a familiar face online and in marketing materials. If you have an online store, create an “About Us” page introducing your staff and put some faces behind your brand name. Or you can feature them in social media posts, like Somatic Massage Therapy & Spa does:

Put a face to your brand by showcasing your staff.

Provide the Correct Training

It’s not always simple to find exceptional partners. It’s critical to teach your staff and encourage the development of both hard and soft skills. Make sure everyone is up to speed on your current promotions and shop announcements so they can inform their consumers.

REI, an outdoor shop, is a great example of a company with employees that actively participate in retail marketing. REI selects colleagues who have many of the same traits as its target market. They’re also well-versed on the items and activities for which REI gear is utilized. They may provide intelligent product suggestions and promote products based on their own personal experiences.

Equip Your Employees with the Right Tools

Instead of merely answering inquiries and maintaining the area, provide your employees with the necessary business tools, such as a mobile POS, to make them feel more confident and boost sales. They may wander around the sales floor and greet clients wherever they are this way. Customers may search up answers to their inquiries on the moment if they have any.

11. Analyze & Optimize Your Efforts

You’ll never know whether your retail marketing approach is successful until you monitor it.

Retail firms, unlike many other industries, are susceptible to change. Many shops that depend primarily on foot traffic or in-person sales, for example, lost a lot of money as a result of the COVID-19 lockdowns. Only 2% of small firms claimed the pandemic had a positive impact, while almost a quarter said it had a negative impact.

Whether or whether there is a pandemic, consumer demands are rapidly changing, and companies must adapt. Retail data research may assist you in identifying trends before your competition, allowing you to be an early adopter.

You can reliably measure, analyze, and evaluate sales, employee, and customer data using retail data analysis to better understand your company and refine your retail marketing plan.

Conclusion

Thinking about what type of things you’ll sell, where you’ll sell them, and how you’ll keep consumers engaged after the sale is all part of developing a retail marketing plan. It’s all-encompassing, covering everything from the look of your business to product selection and price. Remember that there is no such thing as a one-size-fits-all plan, and your retail marketing strategy will change as your company grows.

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