In-store promotion is a marketing strategy that aims to attract people to the store and buy specific items that are part of in-store promotion. It is a highly effective tactic designed to build brand or product awareness and win new sales. In-store promotions are not just focused on reducing prices, but also engaging with customers in surprising ways, invoking some emotional call to act. There are various types of promotional products, strategies, and events that can help your retail store thrive.
Let's look at 15 sales tricks and in-store promotion tactics to get you started. A survey by Nielsen shows that 84% of consumers are more likely to stay with a company that offers a loyalty program. Anthropology, a major home goods retailer with more than 200 stores worldwide, is known for doing exactly this as an in-store sales tactic. Distributing coupons with maturities causes fear of losing sales, while additional premiums (supplemental gifts with purchase) generate enthusiasm. Classic price-based promotions combine a love of bargains with limited-time offer periods to entice customers to special sales.
Buy-one-get-one, or BOGO, promotions can help you move slow stock or use them to draw attention to related items. Use coupons that customers must pick up in-store and remain viable for only a few hours or a single day of sale to increase traffic during periods of low activity. Give shoppers a chance to win a shopping spree or other product prize in exchange for providing personal contact information in a contest drawing. To ensure privacy is respected, add an optional contact element to get approval from customers to receive information and promotions sent via email. Often, seasonal promotions relate to important events in the lives of your customers, such as buying a gift for Mother's Day or preparing your children to go back to school. From stamp cards to personalized discounts, a loyalty program is an in-store promotion tactic that can be as big or small as you want.
But sometimes, an exciting retail promotion is the best way to generate buzz that goes through the noise. Create QR codes that customers can capture with their smartphone cameras so you can connect them to promotional videos, contests, product information, invitations to special events and other sales-related information. With point-of-sale advertising, the promotion is advertised in-store, where customers or customers pay you for your business. While these examples of in-store promotions can be very lucrative and may seem simple to do, it's important to take the time to plan and calculate the cost of the promotion to ensure you receive a good return on investment. Fortunately, there is a people counting solution like Dor which makes it easy for retailers to gain visibility into each store to better understand foot traffic and its sales conversion rates. In conclusion, in-store promotions are an effective marketing tool that helps brands promote their products within physical stores directly at the point of sale. A retail promotion is a persuasive marketing strategy designed to drive sales and attract logic and urgency.
Leverage various types of promotional products, strategies, and events to help your retail store thrive.