Top 15 Retail Marketing Strategies To Maximize Your Online Sales
Attracting customers to purchase your products and fall in love with your brand can be quite challenging in today’s world. With consumerism reaching its peak, boosting your brand awareness and visibility can be a real issue. All brands are fighting to get the attention of consumers especially on digital platforms.
In a very crowded marketplace, you need to have a strong marketing plan and strategy to be able to achieve the results you are aiming for. Retail marketing is one of the aspects that you need to pay full attention to in your plan if you want your customers to purchase your products.
In this article, you can find a detailed guide to mastering your retail marketing strategies. Know what is a retail marketing strategy and what are the top strategies that you can follow.
Table of Content:Top 15 Retail Marketing Strategies
- Digital Product Catalogs
- Cart Promotions
- Loyalty Programs
- Contests & Competitions
- Partnerships & Collaborations
- Referral Marketing Campaigns
- Online Presence
- Storefront Merchandising
- Location-based Campaigns
- Experiential Marketing
- In-store Events
- Samples & Giveaways
- Gift Cards
- Store Space Utilization
What is Retail Marketing Strategy?
Retail is all about selling your products and services to consumers. Retail marketing is the plan used by businesses to boost sales, attract consumers and build strong brand awareness and positioning. It is all about getting your products visible in front of the right audience and letting them purchase those products.
A retail marketing strategy is a strategy for utilizing and making the best out of marketing resources and tools, whether digital or traditional. It is a way to attract people to your online store and encourage them to make a purchase. Retail marketing strategy can be super beneficial for businesses, especially small retail ones with less resources or budgets.
An example of a retail marketing strategy can be the placement of the product at the retail channel.
Top 15 Retail Marketing Strategies
With the competition in the marketplace rising up, your retail marketing is more crucial than ever to boost your sales and maximize your ROI. To do this, you need to have a sturdy marketing strategy to be able to beat the competition in your industry. Here are some thrilling strategies to skyrocket your online sales; let’s start with some online and digital strategies:
Digital Product Catalogs
Traditional catalogs have always been a powerful marketing tool. With digitizing everything, online product catalogs are also now crucial for your brand and products. They will help you show off your products and are super easy to share with customers. Moreover, you will have zero printing costs.
Also, since they are digital, you can use them to add your social media links and link them to your website as well. With high-quality pictures, video, interactive text, and good copywriting, you can have appealing product catalogs that can attract your audience's eyes.
Cherry on top, you can have your own product catalog on your social media, like Facebook & Instagram, and link it to your website. This can ease the shopping experience of your audience and help you boost your retail marketing strategies. It can also help put your brand out there in front of your audience.
Cart-based sales strategies are a great way to boost your ROI and double your sales. People love discounts! If they are considering purchasing a product from your website and they see relatable promotions on the items they are looking for, chances are: they will buy it! This can be a great incentive for your consumers to finish their online orders.
Here you can also use cross selling or upselling strategies to convince your customers to buy more items with competitive prices using FOMO strategies, creating a sense of urgency. Using attractive incentives will definitely help your sales boom.
Creating an emotional connection between your consumers and your brand can be a game-changer! People want to feel that they belong, and if you succeed in making them feel like they belong to your brand, selling your products will never be a problem! Having a solid loyalty program will always encourage people to come back to you.
You can offer them a discount on their next purchase, and you can give them a free item on spending a certain amount or free shipping. Personalizing offers will make your audience get attached to your brand.
Contests & Competitions
Being playful is always a fun idea. If your brand allows, you can play games with your audience, whether on your social media, websites or even in your on-ground store. This will help you build a hype around your brand, which will get people to fall in love with or remember your brand which will indirectly increase your sales.
Learn more about eCommerce Gamification
Partnerships & Collaborations
Improving your brand’s visibility might require some help from others. Partnering up with the right businesses, brands, or influencers can help you build the right positioning for your brand and can help you improve your brand awareness and maximize your sales.
This strategy can be very cost-effective if both brands collaborate for a cause or if it is a win/win situation. You need to choose right. Make sure to choose a brand that will complement yours. For example, if you are a makeup brand, you can collaborate with a hair products business! This can help you boom, complement your brand, and can look very good in ads! Or if you are thinking of collaborating with an influencer or a blogger, you need to make sure that it is perfect for your niche. This strategy can be a great way to improve your retail marketing.
Not all of your retail marketing efforts should be directed at generating fresh leads. Retargeting current consumers can, on occasion, be the best thing you can do to increase your sales. Actually, 97% of website visitors won't make a purchase on their first visit.
This indicates that although they expressed curiosity, they weren't persuaded or couldn't locate what they were looking for or that they needed an incentive to take the step. You can even easily retarget people through Facebook and google. You can even do this using display ads or email marketing. Retargeting can help you boost your conversions and sales.
Referral Marketing Campaigns
Nothing beats word of mouth when it comes to increasing your sales. People trust other people like crazy, especially if they are family or friends. If people are happy and satisfied with your products or services, they will surely talk about it to others. However, if you gave them an incentive to do so, that might even encourage them to talk about your brand, which will help you increase your sales like crazy.
A good referral program is one that you can track and works for your existing and your new customer.
Online presence is something that goes without saying. However, to boost your presence and attract the attention of people while scrolling, you need to have something different, something unique.
Make sure to plan thoroughly to have compelling content marketing. Shoot high-quality videos to be able to enhance your video marketing. Make sure to shoot and promote appealing high res photos of your products. Moreover, your retail marketing strategies will never be complete without digital ads and lead ads. Make sure to include Facebook, Instagram, TikTok, and Google ads in your strategy. This will help you skyrocket your brand awareness as well as sales.
Here are some points to consider applying:
- Add your physical shop location to Google Maps for free.
- Maintain a responsive and SEO-friendly website.
- Let your clients give feedback and consider fixing your negative feedback.
Retail Marketing Strategies to maximize your sales in your on-ground store
First impressions last, and people will surely judge your store by how it looks. The logo, the design, the colors, and the architecture will surely have a huge effect on your audience. If potential audiences are passing by, there is a huge chance they will stop and look at your store front if it looks appealing enough! This can be a great strategy to attract new potential customers.
Sending location-based SMS can be a great way to spread brand awareness in your local area. Moreover, it can be a great way to promote your offers and discounts during certain occasions for everyone in the neighborhood. You can also use geofencing campaigns which depend on GPS-based technology. This allows you to create a virtual fence around your store with a predetermined radius (e.g. 500 meters). Hence, you can target customers within your location in real time.
Store Space Utilization
Arranging the way you display your products physically inside your store can have a great effect on your consumers while shopping. You can push them to see certain products by displaying them in a certain way on shelves or beside the cashier. You can display certain discounted items or new collections in the store entrance. You can play around a lot so that you can influence the buying decisions of your audience.
Consumers seek experiences rather than merely products. Spend your time, effort and budget on projects that people will remember for years to come. Do something creative that they can shoot and share with friends and on their social media with a certain hashtag for example. Experiential marketing, commonly referred to as "live marketing," typically plays on the five senses and invites the consumer to participate in the activity.
This can build a very strong brand image and positioning and keep your brand top-of-mind. Doing this can help indirectly with boosting your sales and retail marketing and can also help spread word-of-mouth.
One of the most engaging retail marketing strategies is events. While digital marketing activities are crucial nowadays, nothing beats real physical connection. This can be targeted to your existing clients and potential ones in your area. You can do certain events on certain occasions with big offers that are available for a limited time or only during the event. Events can be a great way of building an emotional connection, brand awareness, and engagement and also giving your sales a boost.
Samples & Giveaways
This strategy works best if your brand is new or if you are launching a new product that you need to build awareness for or push people to try it. This strategy can be offering free little samples of certain products in your store for the ones who purchase from your store. Or it can be a giveaway on certain occasions like Christmas or Valentine’s, which will let people get emotional with your brand.
This strategy can also be applied to your website or online when people sign up for your email newsletter or when they purchase with a certain amount or even if you are launching a new product online. If you can afford it, free samples and giveaways can be a great way to attract your audience.
Gift card strategy fits all business types and industries and can work online and offline all together. It also boosts the customers’ relationship with the brand and can influence them to buy more and come back again to your store. It can take many forms; however, it offers flexibility and promotes loyalty. You can also use retail promotion management software to help you organize your process.
Store Space Utilization
Arranging the way you display your products physically inside your store can have a great effect on your consumers while shopping. You can push them to see certain products by displaying them in a certain way on shelves or beside the cashier. You can display certain discounted items or new collections at the store entrance. You can play around a lot so that you can influence the buying decisions of your audience.
Automate Your Digital Marketing To Maximize Your Sales
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