If you’re in the retail business, whether it’s online or brick and mortar, it’s imperative to have a retail marketing strategy in place to reach out to customers, drive traffic and make more sales. An impactful retail marketing strategy is critical to the success of a retail business.
If you’re a retail entrepreneur seeking to expand your business by contacting and attracting new customers, CBS Business Consultants urge you to consider the following retail marketing strategy tips for your small business.
Manage Customer Reviews
Consumers have forever relied on the recommendations and advice of other people before investing in a purchase. Thanks to the simplicity of writing and reading online reviews, about 40% of Americans nearly always glance at online reviews before making buying decisions. It’s important to make online reviews an integral component of your retail marketing strategy by responding to both negative and positive reviews in a timely manner so that they serve as an “in-the-moment” customer testimonial and assist in building trust and respect for your brand.
Create Enticing Curb Appeal
If you run a brick and mortar store, regardless of what product or service you sell/offer, make your shop look as attractive as possible on the outside to help bring people inside. You can enhance the look and facade of your store easily and without too much expense by making an attractive display in the window, putting out a welcome mat, placing hanging baskets around the door, and ensuring there are spaces for customers to park. Ultimately, the power of curb appeal shouldn’t be underestimated as part of your retail marketing strategy.
Establish a Customer Loyalty Program
When delivered correctly, loyalty programs can improve customer loyalty and retention with your brand. In fact, according to research, just over eight out of ten consumers are more likely to choose retailers that offer customer loyalty programs.
These programs don’t have to be difficult or expensive to run. For example, if you own a bookshop, you can offer a point-based rewards program that gives customers points for every qualified purchase they make. Once the points reach a certain level, of course, allow your customers to redeem them as bookstore gift cards.
Get Active on Social Media
You may be surprised to learn that nearly 90% of consumers revert to social media to help them with a buying decision. Regardless of what retail business you run, if you’re not yet active on social media, it’s not too late to create profiles on Instagram, Facebook, and Twitter to interact with customers.