Hiking Sales through Strategizing Retail Marketing

By: Katie William, Retail CIO Outlook | Monday, June 22, 2020

With the exponential growth of e-commerce, the need for retailers to adopt effective strategies to uphold sales is more vital than ever. To achieve the business goal, focus must be laid on proper marketing tactics for generating more sales.

Fremont, CA: Good marketing strategies are essential to any retail business. It helps in creating awareness and increasing sales in your online and brick-and-mortar stores. Let's take a look at eight plans that can help retailers market their products better.

Attractive storefronts

For a retail business stand out in the crowd, they should focus on enhancing the style of the storefront. When a customer walks on the road, the retailer’s storefront, the gateway to the retail, must be a striking one, in comparison to the rest of the stores around, such that, the customer chooses the better-looking store over the others, expecting a good shopping experience.

Better wages and compensation schemes

It is important that the employees feel that they aren’t just employees but an integral part of the business who are the steering force of the sales. Motivating them with good incentives, compensating them and introducing them with the new schemes of managing customer relations will increase their productivity and performance, which would, thereby, raise the profit.

Efficient training of employees

Employees are the face of the retail, the representatives. Thus, focusing on the adequate training of the employees is a must so that they can follow the current industry trends and maintain the dignity of the store by establishing good customer relations. Regular training are definitely a part of a good marketing plan.

Market research

Proper research of the market, analysis of competitors and proper sales data give a bigger and better picture of the industry scenario, which is helpful to strategize marketing.

Engaging customers

Customers come with many questions while purchasing, and when these are answered genuinely, it restores the faith of the customer in the retailer. Focusing on customer feedbacks, engaging them in market research and acting upon their reviews are some tactics that will boost customer engagement. To add more to the loyalty of customers’, additional discounts for regular customers can be helpful.

Utilizing social media platforms

Social media is that platform which has the largest number of participants. Publishing advertisements and catalogues in these platforms can help the retailer reach out to the customers better. Social media can make it more effective in understanding the demand and target audience.

Effective remarketing

To hold on to the customers, the retailer must focus on reminding customers of their satisfactory shopping experiences. Based on the earlier purchases, coupons and discounts can be a good retargeting scheme for the business.

Modifying prices strategically

In almost every industry, the demand for any product keeps changing. In order to keep up to the profitability of the business, it is necessary to set the pricing strategy accordingly that will invite more customers, without compromising with profits.

While there are many strategies for improving retail marketing, it is important that retailers identify the appropriate ones for their business. The uniqueness and good customer relations that the retailer has established will bring in the success of the retail business.