Understanding Retail Marketing

 

 

What is Retail Marketing?

 

Retail marketing is the process of getting people to visit and spend money at your retail operation. These visits occur through research, analytics, and understanding your ideal customer profile. Retail Marketing utilizes all customer channels: guest WiFi, website, social, ratings sites, mobile apps, email, text, and advertising.

 

Retail marketing is a powerful tool that you can use to increase profits in-store or/and online.

 

Learning about the different retail marketing categories can help you achieve the best results possible.

 

The Different Types of Marketing

 

• Online marketing (otherwise known as digital marketing or internet marketing)

 

Nowadays, online marketing is the most widely recognized and utilized form of marketing.

It has never been easier for retail businesses to showcase their products and create a brand following.

Subsequently, many retail companies actively market their business online with little to no budget and can create significant results.

Before beginning to market your retail brand online, it’s essential to have a clear understanding of where your customers are to achieve the best organic results.

For example, if you sell business products, you should probably capitalize on LinkedIn as much as possible.

If you sell retail clothing, Instagram and Pinterest will help deliver significant results.

Remember, the best marketing decisions are focused on where your potential customers are and the topics that matter to them.

So, it’s not about the personal preferences of your internal marketing team.

 

Online retail marketing is not about what your customers can do for you, it’s about what you can do for your customers.

 

 

• Direct retail marketing

 

When retail businesses begin to gain traction, most venture into direct retail marketing.

But what is direct retail marketing exactly?

Direct retail marketing is a broad term that refers to the most tangible forms of marketing your retail business offline.

So, if you want some examples of direct retail marketing, the answer is endless.

However, the most popular forms of direct marketing for retail brands include flyers, catalogs, billboards, television ads, postcards, and even store signage.

Most importantly, direct retail marketing can help provide a personal touch offline.

So, this can contribute to increased sales, brand credibility, and increased buyer trust.

 

 

• Word of mouth marketing

 

Word of mouth marketing is possibly the oldest form of marketing.

It should be an essential component of any retail marketing strategy.

Word of mouth marketing is what customers say to their friends and family when you are not around.

BigCommerce has reported that according to one Nielson study, 92% of people trust recommendations from friends and family over any other type of advertising.

 

 

• Public relations

 

Public relations can help put your retail company in the spotlight.

But what is the definition of public relations?

According to HubSpot, the definition of public relations is a strategic communication process that builds mutually beneficial relationships between organizations and their publics.

So, public relations campaigns can include news articles, press releases, and charity involvement.

Also known as PR, when executed correctly, public relations can contribute heavily to a positive brand reputation and increases buyer trust.

 

 

Why is retail marketing important?

 

Marketing is essential for retail merchants to stay in business – especially in today’s online retail environment.

Can you imagine what a retail store would look like without any signage or marketing presence?

Mostly, no one would even know that a silent brand exists.

As you can see, this is why retail marketing is so important.

 

Specifically, marketing campaigns in retail are successful when they will:

 

• Educate and help others.

 

• Create engagement, which results in increased retail brand visibility.

 

• Manage your retail brand’s reputation.

 

• Grow your retail business.

 

• Increase retail profits.

 

• Improve customer loyalty.

 

 

How do I create a marketing strategy?

 

• Make sure your storefront is eye-catching and magnetic for your target customers.

• Write down what your target “buyer persona” looks like. Your target customer’s age, what they like to do, where they live, and what they care about are all important. They will help you communicate, connect with, and understand your customers better.

• So, decide which social media outlets to use based on where your target customers are the most active.

• Create colors and signage that attracts positive attention from your target audience correctly. Your brand should silently tell your customer base that you understand who they are.

• Create an action plan and delegate tasks. Many retail brands are more successful when they create a marketing calendar.

 

 

How has Coronavirus changed the retail industry?

 

Online marketing is more critical now than ever before in the retail industry.

Subsequently, retail brands must retain and engage.

Each customer that walks through your doors must come back in.

Companies in the retail industry must rethink their marketing strategy.

Consequently, creating a new strategy can help them easily connect with their customers online and offline.

So, this will help them capitalize on repeat visits or e-commerce sales.

 

 

What is the future of retail marketing?

 

 

The future of retail marketing with Bloom Intelligence looks like this:

 

Step One:

When a guest enters your location, you can track essential metrics.

These metrics include their churn likelihood, and how many times they have visited your location.

You can even learn how busy your location is during different times of the day and uncover much more data.

Indeed, uncovering this information will allow you to create robust customer profiles.

These KPI metrics can assist in uncovering operational opportunities that may increase revenue.

For example, imagine being able to see that there are more customers in your location during a specific time of the day.

So, based on this data, perhaps it might be time to re-evaluate staffing, increase signage, or provide special promotions.

Plus, you can even AB test internal marketing promotions.

You can use the amount of customer traffic you received during the campaign time frames as a basis for campaigns.

 

Step Two:

When a customer is waiting in line or sitting by the door, they can log into your WiFi for free.

So, each time that they log into your WiFi, you can capture valuable clean information about your guest beyond just their email address.

Plus, during every visit, you can ask different custom questions on your WiFi landing page to learn more about them.

Indeed, you can even create an integration to blend your email database from other sources with your Bloom Intelligence email addresses.

For example, you can blend email addresses from other online marketing tools and platforms.

 

Step Three:

Maybe you’re too busy to remember that you should create custom email campaigns.

With Bloom Intelligence, your campaigns are automated based on specific data.

Subsequently, this data includes the number of times they have visited your location, their churn risk likelihood, and much more.

Additionally, you can even provide special offers and track redemptions.

All of your campaigns can be created with the easy-to-use Bloom Intelligence drag and drop email creation tool.

Based on the data that Bloom Intelligence uncovers, you can automate campaigns that target your subscriber base within segments.

For example, you can send targeted emails to customers who are the most loyal or customers who are more likely to churn.

Maybe you would like to run birthday email campaigns.

Perhaps you would like to send separate email campaigns based on zip codes.

With Bloom Intelligence, almost anything is possible.

 

Step Four:

You can track your campaign results with WiFi analytics.

So, this will help you get to know your customer base on a more personal level.

Indeed, you can get to know your customers even when they’re outside of your store.

Guests love receiving the VIP experience, custom offers, and communication that seems tailor-made just for them.

Plus, they won’t even know that it’s automated!

Want to learn more about how to increase your profits with Bloom Intelligence’s powerful capabilities? You can learn more about WiFi marketing in the retail industry or request a demo today!

 

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