Today, more businesses than ever are trading globally. From multi-national service providers to small family stores, the internet, mass communication and affordable global shipping have opened new markets around the globe for practically every business.
Every marketing campaign has several steps in place to generate leads, grab the attention of customers and make the final pitch for a potential sale. Understanding the importance of every step and how to properly execute each separates businesses with the strongest bottom line from the rest.
If you run a physical brick and mortar facility, in-store marketing makes up a key component to the final step in your marketing campaign. It should function as the closer for the advertising team.
However, before you dive head first into in-store marketing specifics, you need a wider understanding of your marketing strategy and identify how each step leads consumers to your doorstep.
Marketing has changed significantly over the years. From relying on radio advertisements and print newspaper ads to bumper commercial spots, large billboard displays and now marketing material popping up on smart phones, the evolution of advertisements has proven both substantial and incredible at the same time. However, when you stop and think about it, marketing within a retail store front has changed very little. Signs, whether hand carved or commercially printed, have seen continual usage within stores around the globe since the creation of commerce and the exchange of money for goods and services. Thankfully, it's no longer necessary to carve messages in stone or hand-draw posters. Digital signage offers more opportunities than most other display mediums, but are retailers taking full advantage of digital signage?
Proper retail marketing requires a good amount of initial research. Based on the analytical data obtained through varying sources, you should have a good idea as to what sort of product or service to highlight in the marketing campaign. You'll also identify other key attributes including key demographics and what marketing source generates the highest return. With all of this information based on the analytical data, you have a strong foundation for producing a functional and potentially successful retail marketing plan. You just need to generate a template for documenting what works, what doesn't and how you can evolve the plan over time. Here are a few suggestions and tips on creating that marketing plan template.
What makes your company different? Chances are, the products or services you offer are, in many ways, similar to other businesses out there. So what sets it apart? In order to grow and prosper, this is a key component you need to identify and then highlight to your key demographic. The best selling fast food restaurants understand how to do this. While the produces are similar to the competition, McDonald's highlights its inexpensive price and wide number of options. Wendy's, on the other hand, highlights quality and the fresh ingredients used. While your business may not be fast food oriented, it is crucial to target the variable your company does that differs from the pack. In a similar manor, you need to develop a unique approach to your marketing, in order to cut through the thick crowd of other advertisements. Doing this helps establish your business and grab the attention of consumers.
Marketing agencies have long played a major role in the advertising success of a company. As the Internet expanded and social media became an essential tool for reaching customers, companies around the world began to turn towards retail marketing agencies for assistance. However, has this initial assistance turned into a full-fledge crutch? A company should never become overly reliant on any one outside entity, but for many businesses, a complete dependency on what an ad agency does has developed. While there's nothing wrong with utilizing an external marketing agency, giving up nearly complete advertising control can prove especially detrimental. So, before you hire a new marketing agency or instruct the service provider to take on additional duties, take a step back and determine whether or not the external service provider has too much influence over your eventual marketing success.