The retail industry is highly competitive, and like every other business, it requires creative, eye-catching marketing to expand. It is imperative to mention that marketing is always necessary no matter how fantastic your business’ location is or how well-stocked it is. The following are some ideas you can use for marketing. The best marketing ideas will get you, new customers, with the least effort and lowest cost.
There are four primary components of retail marketing, and an advert needs to have all these together for it to qualify to be referred to as creative marketing. They include:
- The product: The marketing strategy must clearly articulate the features of the product you are marketing and its benefits to the target market. Of course, you will need to have the product available as you market. People get turned off quickly if they find you don’t have the product in stock.
- Price: You will let potential customers know how much the product is going for, but you also need an effective pricing strategy. Employ pricing psychology to attract customers.
- Place: This refers to the location or the platform you are using to sell your products. If it is a brick-and-mortar shop, you will need to ensure it is strategically located and if you are engaged in selling online, make sure your website is easy to find and use.
- Promotion: This refers to the specific strategy you will use to let people know about the retail products you are marketing.
Three creative marketing ideas
Use Social Media
Social media is a powerful marketing tool. The beauty of these platforms is that you can use them effectively to retail market products whether you have a brick-and-mortar store or are selling them online. The three social media platforms that are most strategic social media platforms are Facebook, Instagram, and Pinterest, although other platforms have some benefits too.
Facebook gives you a platform to reach millions of potential customers, but it also allows you to target your preferred audience if you want to deal with a more localized group. To get the best results from Facebook, you need to pay for adverts. This way, you will be able to list the specific people you want to reach. Pinterest is a great place to have a presence because people go there to research products. Being well established on this platform shows that you are an expert in your field.
Instagram, like Facebook, allows you to focus your marketing efforts on a specific audience.
According to research, an average person in the United States checks their phone 262 times every day! This means that an advert that goes to the cellphone is almost certain to be seen—sending SMS to market your products to cellphone users in a certain locality.
There are instances when low-tech marketing is the best option. Use well-organized storefront displays and exhibitions to showcase your products. These products are an excellent opportunity to interact with customers and explain what you have to offer. Traditional media such as television and newspapers are still potent avenues, but you must invest in quality copywriting.
Christopher F. Frazier Lives in Gainesville, Georgia, and has been a pillar at Hardware Specialties, Inc. for over 27 years.