What are the different strategies that retail businesses can use for business promotion?

 

Top 5 Marketing Strategies for Retail Businesses

These below strategies are likely to give result than any other strategies out there.

But before that you should know what is retail marketing.

What is Retail Marketing?

Retail marketing is made up of a business’s attempt to sell its product to its customers. It seems broad, we know. But retail marketing is a larger category than you probably realize.

It encompasses traditional marketing (TV ads, billboards, direct mailers, etc.) and digital marketing (i.e., Facebook ads, Instagram stories, email campaigns).

And, as the graph below shows, digital marketing in retail is only growing.

When we talk about retail marketing, we are usually focusing on:

• Product.

Your store may sell hard goods, such as appliances or electronics. Or your store may sell soft goods, such as clothing or cosmetics. You may even do a combination of both.

• Price.

This covers all of your pricing decisions –– including what price points you sell your products or services at, what discounts or sales you offer, and how elastic your pricing is.

• Place.

This is where consumers can find your product (whether a website or a storefront).

• Promotion.

How are you going to take the above information and convey it to your customers? That’s where promotion comes into play.

But for this post, we are going to mostly focus on strategies you can use with or without a store, such as setting up Facebook ads and recruiting influencers to promote your merchandise.

1. Use Social Media Wisely

If you’re running a business today, chances are you have a social media account for it. You may have a Youtube account , Facebook account or Instagram or Twitter account (or maybe all four).

But it can be hard to see the value of being active on social media if you don’t have an overarching retail marketing strategy.

As the graph below shows, consumers who interact with your social media accounts are more likely to visit your store, visit your website, buy from you, and more.

Youtube is the best social media platform out there to market your business and to get more clients as being the second most used search engine after google.

If you want to know more about Youtube business and how to scale it up

do check below.

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Use Facebook Ads to Drive Revenue

Let’s say you’ve already tried running Facebook ads to drive retail sales. You put together some copy, found images that worked for your brand, set a budget, and ran a series of ads over a week or two. Just keep it up and you will be successful on it in no time. Being consistent is the key.

2. E-Mail Marketing

Why E-Mail Marketing? You ask. Why Not?

E-Mail Marketing is the best marketing source out there even those who are not active on social media they will surely have a G-Mail/E-Mail account. Therefore is it gonna reach more customers that are actually gonna buy your products/services.

If you want to know detail explanation about E-Mail Marketing Check out my Blog I have explained on Why and How to use it effectively and which tool you should use for E-Mail Marketing.

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3. Use Google Shopping Campaigns

If you have a question or query, chances are you’re asking Google. At least, according to the most recent numbers that show Google owns 92.18% of the search engine market.

Getting your content to rank organically is a huge win for your business, but that takes significant time and upfront investment.

The great news is that, as the image below shows, Google Shopping campaigns can get your product to the very top of the SERP.

Google Shopping campaigns are the first thing customers see, and they are also more dynamic than traditional Google ads. Google Shopping features product images, pricing, shipping information, and star ratings.

The real trick is to use Google Shopping campaigns in addition to your other Google marketing strategies.

If you set up Google Shopping through your eCommerce site, while ranking organically in the SERP, while also running PPC Google ads, then what you’re doing is building multiple avenues where customers can find your product and click on it.

4. Retarget Your Customers

Only 2% of the customers who land on your site will convert on their first visit. That number seems bleak, doesn’t it? Not so fast.

First, you can work to increase that number (and yes, you should be working to increase you converting rate. Creating better ads and more optimized landing pages is a start.

But no matter how high you get that number, there will still be more people who don’t convert than do on the first visit.

The real winning strategy is understanding that it isn’t a failure that 98% of your customers didn’t convert on the first visit — it’s just step one in the buying process.

5. Use Influencer Marketing for Unique and Value-Driven Content

Influencer marketing is designed to be specific, relatable, and personal. As customers want more relevant content, it’s easy to see why 65% of influence marketing budgets are expected to increase in 2020.

Finding authentic influencers to promote your brand allows you to gain trust and recruit new customers.

Instagram has been the home for most influencers. Instagram’s breadth of user-generated content allows you to find influencers who are natural fits for your vertical.

If you follow these strategies you are sure to have results these strategies may seem obvious but what happens people don't try this because they think its way too much competitions but that is not the case just go with it consistently and you will surely see the result.

Hope this was helpful for you and all the best for your career.

Thank You