For retail shops in 2019, marketing is as important as sales. Retailers have to deal with very different problems in their retail business which often others cannot relate to. The stock which isn’t sold, inventory getting spoilt, disobedient staff, and accounting are just the tip of the iceberg. Among these, they often forget marketing which causes further harm.
Problems in the retail business
In the retail business, even to break even, there needs to be a minimum monthly sale, for which there needs to be a minimum daily sale. And that is just, to break even. Profit is a different story. Even if your sales force is great and your stock is top-notch, competing becomes difficult.
Not just with other stores in your colony or area, but also online stores and websites. Lack of marketing is perhaps the biggest reason for retailers shutting shops. The three pillars of marketing for retailers are Product, Price & Promotion. You have great products, you’re offering discounts so the price point is covered, but the third one which is often overlooked.
Marketing for retail business
A few years back retail marketing was much simpler – you arranged for the stock, got an advertisement on a billboard, maybe got a few newspaper ads here and there, and made the sale. But recently it’s becoming very difficult to stay afloat.
Digital Marketing only compliments conventional strategies, so to do well you need to keep your conventional way while adding sprinkles on the cake through your digital strategy. Let’s discuss some strategies you should implement to do well in the retail space.
Your own brand and scheme
There are high chances that you mostly have other brands you retail for, but that does not mean you can’t have your own brand.
Here are the steps to start your own branding
- Decide your brand colours
- Generate a logo (you can do this using free tools)
- Make sure your storefront has the same scheme of colours as above
- Use the same colours in the interiors of your retail business store, packaging, bags etc.
Google Business to the rescue
Google is a very important part of all marketing strategies so list your retail business on Google Business even before you start your campaigns. You should also make sure that Google Maps show the correct location of your choice. Many walk-in customers might search for your business on Google and once they see your place on Google Maps they will find your place easily and it would build more trust.
Another very important strategy is to ask your existing customers to add reviews for your outlet on Google, this is very important to build trust amongst new customers even before they actually visit you.
Photography, Pinterest & Instagram
Consumer products are evergreen on Pinterest & Instagram. Ask your existing customers to follow you and then invest in a good photoshoot of your outlet, products etc. Make sure you generate enough content for 1-2 months with one photoshoot and keep publishing it timely. But to get enough visibility you need to have some really good hashtags. Also, make sure to add a location to your posts so that people find your fashion business easily.
Talk to the experts
Marketing agencies are available everywhere which work with retail outlets to boost their sales. Sometime your budget might not allow you to hire an agency. In that case, or if you have some doubts you want answers to, considering consulting with experts. Many businesses consult experts for marketing help through websites like Smooper to create awesome strategies that work like magic.
Customer information is very undervalued. When someone makes a purchase make sure you have:
- Their name
- Email address
- Telephone number
- Social URLs
- Birthdays, Anniversaries etc.
Once you have this information you can use some amazing tools to re-market to the same customers again and again.
Taking your retail business online
There are many software platforms which help you build pages, put your store online and sell directly from your retail business website. You can also start selling on existing giants like Amazon or Flipkart.
In this age, it is very difficult to make sure that the same customer comes back to you. Keep a record of your regular customers and express your gratitude by discounts, promotions, and freebies. There are many point-based loyalty systems you can use online, paid as well as free.