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Bringing in more traffic and sales is something that every retailer thinks about. But the questions remain: How do you get shoppers to come by and entice them to buy more from your store? What are the triggers that will get people to purchase from you and not your competition? How do you get out of a slump if you’re not getting that valuable foot traffic?
Answer: Marketing and advertising.
Whatever your goal may be as a retailer, here are simple advertising tips that will not only help drive sales, but help grow your business long-term.
Promotional pricing
It’s not a newsflash that discounting products helps to increase demand, but there’s a fine line between a promotion and simply pricing yourself into a deficit.You can book a text ad with ReleaseMyAd and Promote price.
That’s why if you’re planning to advertise promotional pricing, you have to ensure that you have some something in your store that will get people to stick around and buy.
Gymboree, a retail chain that sells kids apparel, does this well. Gymboree likes to run huge sales both online and offline to draw people, but they also do a good job of delighting customers once they in the shop. The staff also encourages people to sign up for Gymboree’s loyalty program, which helps drive repeat visits.
Promotional pricing has a strong psychological pull for consumers, as well. A simple red or yellow sale tag on a product causes customers to assume a product has a better value proposition than they could get somewhere else. And ending a price in the number “9” has been shown to increase sales — even if the two prices in question are rs. 540 and a cheaper price point of rs. 600, for example.
And don’t forget about running a promotion with the word “free” in it, such as “Buy one, get one free” or offering free shipping. This promotional tactic is effective because the consumer feels like they’re truly getting something for nothing, when in reality it’s the same thing as offering “50% off,” for example. The word “free” is universally known, whereas consumers often have trouble interpreting the meaning of percentage discounts.
Target runs “free” deals regularly, but does it in a strategic way. Check out the example below, where they give away a gree rs. 150 gift card if the shopper spends rs. 750 or more on baby products.
See if you can emulate this strategy. If you want to encourage sales in a particular department (apparel, baby, kitchen, etc.) run a “free gift card” promotion with a spending threshold for that specific category.
Store events
You have to give people a strong reason to visit your store, and having good products often isn’t enough. People can order anything online these days — and hopefully even from your own online marketplace — but what brings them through your doors?
Incentivize shoppers to come into the store for a free and on-brand event where they will not only be surrounded by tempting limited and “only available in stores” items, but also things like product demonstrations and services.
To drive store traffic, ReleaseMyAd set up a huge sign by the door advertising the event and their offers.
If you’re looking to attract online shoppers into your location, offer coupons that can only be used in-store. Once you get them through your doors, knock their socks off with personalized service and fun events.
Point-of-purchase displays
Research has shown that more than 6o% of all decisions to buy something are made while people are shopping in a store, with more than 50% of those decisions considered an impulse buy. What that tells you is that point-of-purchase (POP) displays — those well-designed displays placed throughout the store — are an effective marketing tool.You can also Book Display ad With ReleaseMyAd.com
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