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Retail stores have always faced the challenge of attracting and retaining customers. This challenge has become even more difficult in a world of increasing competition and evolving technology, making it even more important that businesses find ways to entice new customers and show existing ones they are the best choice.
In my experience within the industry, retail stores have to continuously strive to attract and retain customers. Achieving this requires investing in marketing, advertising, and customer service initiatives. With that in mind, here are six steps any retailer can use to market their independent business.
1. Establish brand recognition.
In my experience, the success of any business depends on its ability to establish a recognizable brand. Part of this process involves creating a memorable name, logo and slogan that help customers recognize and remember your brand. The logo should be easy to recognize and have an eye-catching design. Many studies have shown that the most memorable logos have a simple design.
It’s important to not overthink the logo’s design but also to ensure that it stands out and targets your audience. One way to do this is to conduct market research to understand your target audience’s preferences and design a logo that reflects your brand’s personality and values.
A slogan can also help to differentiate your brand from its competitors and create a memorable impression with customers. Aim to create a slogan that is concise, catchy, meaningful, easy to remember and embodies the business’s core values.
2. Market on social media and search engine advertising campaigns.
Once the logo and slogan are created, the next step is implementing social media campaigns to generate more awareness about the brand. You can create ads that appear when people search for certain products or services. This can help merchants get more leads and increase sales.
I recommend utilizing various social media platforms to reach a wider audience, although your messaging should resonate with your target audience the most. Consider using platforms such as Google Ads and Bing Ads, as these campaigns allow you to target specific keywords and demographics to ensure your ads reach the right people.
Other online marketing strategies include email marketing campaigns and working with influencers. Combining these strategies can help you create an even more effective online presence and increase your brand’s visibility.
3. Create promotions to attract customers.
Another effective strategy is to create promotions to attract customers to a business’s products and services. Promotions should be tailored to your target audience and designed to be engaging and attention-grabbing. Consider using BOGO, free shipping, free samples, coupons, flash sales and giveaways; I have found that these tactics can do a lot to increase customer engagement and drive sales.
Most people love savings and discounts, so offering promotions and exclusive deals can be a great way to attract and retain customers. Additionally, providing exceptional customer service and personalized experiences can also help you build strong relationships with consumers and encourage repeat business.
4. Build a loyalty program.
An effective loyalty program encourages loyalty by rewarding customers for their repeat purchases. This can also help your brand build long-term relationships with your customer base, giving them a sense of belonging.
Loyalty programs can include a variety of incentives, such as discounts, rewards points and even access to exclusive events. These programs encourage customers to continue purchasing from your brand, but they also provide valuable data on customer behaviour and preferences to help make more informed decisions about future marketing efforts. Many brands use a point-of-sale (POS) system that facilitates the creation and maintenance of loyalty program memberships by automatically tracking the customer’s purchases and issuing rewards at checkout.
5. Advertise at the point of purchase.
A point-of-purchase (POP) display can target potential customers already in the store. Placing ads at the checkout counter can quickly grab customers’ attention, leading them to consider a product they may not have thought of before.
POP advertising can take many forms, including displays, posters, signage and other digital media. Additionally, many retailers will use POP advertising to promote special offers, such as discounts or coupons. These ads can inform customers about new products, promote loyalty programs.
6. Analyse what works best for your customers.
Data analytics can be used to track customer purchases, in-store traffic and website visits. The store can use this data to determine which marketing strategies are most successful. This can include tracking the effectiveness of email campaigns, print advertising, social media and even word-of-mouth. With this data, you can focus your store’s marketing efforts on strategies that are proven to be effective, thus ensuring a better return on investment.
Additionally, you can survey customers to determine what motivated them to shop. Do your customers favour particular brands over their generic counterparts? Do they make choices based on impulsive or emotional needs, such as buying the latest trends and fashions? Pay close attention to what they say, then use this information to tailor your services and products to better meet their needs.
Overall, independent retail stores must continuously strive to attract and retain customers in today’s landscape. I encourage you to invest in marketing, advertising and customer service initiatives and stay up-to-date on the latest trends. Continuously improving and adapting to the changing market can help you ensure long-term success and growth for your business.
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CEO, National Retail Solutions (NRS). POS, NRS Digital Media, NRS Pay, NRS Funding, NRS Purple, and NRS Petro: Helping retailers succeed. Read Elie Y. Katz’s full executive profile here.
