Putting your best foot forward in the retail environment can help your company boost its…
Promotional tools are best used when the strategy calls for a highly targeted, time-limited boost in response. They can be excellent ways to encourage new-product trials and for raising seasonal performance. They should always be part of the overall marketing strategy and budget. Contests and sweepstakes are a way of securing product engagement and, potentially, repeat sales (e.g., for a game that includes purchases to collect game pieces). Coupons require the customer to actively seek out your product on the shelves or to contact you for the product or service. Sampling brings the product or service message to life for the customer through experience. Bonus packs and tie-ins lead to a trial of additional products.
Advertising Specialties: The strategic inclusion of specialty items can be an effective sales-promotion tool. Freebies are always a draw with customers, but do not disappoint them with gifts that look and feel cheap. The best giveaways are those that are useful, such as pens, on which prospective customers will see your business name and contact information. Visit wholesalers, or search online to investigate discount prices on quantities of calculators, watches, pens, or other appropriate items.
Trade Show Exhibits: The use of trade show exhibits is a proven promotional strategy for business-to-business companies and can also succeed for certain types of consumer marketing. This is one of the best forms of experiential marketing, because it lends itself to having prospective customers try out your products, or having services demonstrated. Whereas the cost of trade-show space, a professionally designed booth, transportation, and other related expenses can be relatively high, the opportunity to have impact can make it worthwhile.
This is particularly true for business-to-business marketing that can be accomplished at targeted professional conferences, providing an efficient means to reach many potential customers with a consistent message. Tsnn.com reports that there are 15,000 trade shows, exhibitions, public events, and conferences each year. The keys to successful trade show promotion include preparation, booth training for all staff, quality exhibits, careful goal setting, and consistent efforts to reap the benefits of the investment.
Mall Carts or Kiosks: For many seasonal businesses, or businesses that are working to create full-scale retail operations, mall carts or kiosks may prove effective. Signing a multi-year lease for a retail store is not likely to make sense for a seasonal business such as a Christmas or Halloween operation. Sometimes such businesses can find vacant retail spaces to rent for just a season, or they can partner with others to rotate in and out of a store. In other situations,
They can create a business model of changing seasonal inventory and focus. However, for many business owners, these options are not practical or desirable, and having a temporary retail location is preferable. Also, if you are working on a retail concept and want to try out the idea—products, prices, and so forth—a temporary location is a good opportunity to “test-drive” your business before investing in longer-term, more costly retail space. Such a trial run may also provide sales and marketing data that will assist you in attracting financing.
The London School of Business and Finance provide highly effective Marketing Management Programs through which, one can learn how to perform effective marketing.
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