Many times, when sales are down or a specific product needs to be boosted, marketers need to come up with innovational methods of creating product demand. This article provides retail marketing tips, or more specifically gives insight on how to use SMS marketing, email marketing, and social media marketing to boost sales and clientele.
So far, SMS marketing is the most effective method of marketing in order to increase brand awareness and improve customer loyalty. However, this can only be achieved if done right. Retail marketing tips include creating a sense of urgency. Introducing limited time offers will urge users to avail the offer as soon as possible e.g. on public holidays such as Independence or Labor Day, 24-hour deals offering heavy discounts such as Buy 1 get 1 free deal will inevitably result in a positive customer turnout. Subway introduces a buy 1 get 1 free on its sandwiches from time to time, and there are customer queues outside the doors on those days! Secondly, loyalty programs are the best way to increase customer loyalty. Loyalty cards are now becoming a thing of the past and being replaced with SMS loyalty programs. Businesses should not only focus on attracting new customers but also retaining existing ones.
While some people believe that email marketing is not as popular as before, a recent survey done in 2018 showed that it creates a $40 ROI for every $1 spent, more than most other forms of advertising. To make email as effective as possible, the most important thing for businesses is to understand their target audience i.e. know their interests, likes and dislikes and focus on those. Studies have shown that people check their email every day so it is best to send consistent, regular emails to stay ahead of competitors. Moreover, keeping emails short and personalizing each to the recipient’s name is likely to ensure a higher open and read rate. Lastly, the subject line can make a world of difference. If the subject is appealing, it’s bound to catch the reader’s attention; otherwise, it will probably end up in junk mail or never be opened.
Technology has brought down costs of advertising significantly. Social media marketing is practically free! Businesses should not let this opportunity go to waste and hire a social media manager to interact with customers through platforms such as Facebook. Every business has an official Facebook page that users can look up to find out information about the business i.e. reviews, telephone number, location, product details, website information, etc. A more easily accessible and informative business platform is likely to result in good customer reviews and recommendations. There has been an ongoing debate on whether social media marketing generates ROI as it can be hard to measure exactly what factors affect ROI when it comes to social media. However, new research by the DMA showed that 48% of marketers agreed that social media marketing does generate revenue. It’s all about following the right retail marketing tips to increase effectiveness and thus, profits.