Retail marketing is very different to the types you will need for other money making concerns such as B2B, or even charity work. This is because it’s a distinct market with the aim of selling single units to as many people as possible. So to find out how to get a grip on marketing for retail keep reading.
If we imagine the marketing aspect of retail as a pyramid, at the top is most definitely the product itself. This has to be of good quality, it has to fill a need that people have, and it needs to appeal to those people you hope to be selling it to.
For example, if you are selling a child’s drink bottle then the use of bright colours and cartoon characters may be an integral part of the design. This is because such aspects will catch the eye of the children making them go for your product over the less exciting one on the market. Thus causing them to ask their parents for your item, specifically resulting in increased sales.
Location and placement
Of course, it not just having an amazing product that leads to retail success but is also the having this product in front of people that may buy it. To do this, you need to consider two things. The first is location. That relates to where the product will be sold. Usually, this is in a physical shop, or an online one.
To help you get your product in front of as many people as possible considers approaching chain stores with nationwide distribution. Or using your marketing skills to promote your online shop so it features highly in the SEO rankings.
Placement refers to whereabouts in the store physical, or online that your product is placed. Of course, this can have a massive effect on your sales because just having something where it will catch the right target audiences’ eye can make all the difference. It’s here that product promotional stands and displays can come in very useful too.
Shopper vs. Customer
Also, remember that there is the difference between a customer and a shopper. Your customers are the one that the product is designed for, whereas a shopper can also be encouraged to purchase if you present your items benefits and offer them a good enough deal.
You can find some more tips on how to improve sales with shopper marketing tactics online. Something that can help you achieve more sales and increase repeat business in the long run.
Lastly, promotion is essential in retail marketing. This is because, as mentioned above sometimes possible customers need a little push to make their purchase.
This could be by convincing them they need it. Something that can be done with demonstrations, or videos showing the USP of your product.
Or it could appeal to their economic sense by offering a special deal where the price is reduced, or they get an added product for but pay less for it.