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. In most cases, these strategies come directly from the manufacturers or can be offered by the store itself. In-store promotions are any marketing or sales promotion that takes place in a traditional retail location. In-store promotions are a highly effective marketing tactic designed to attract customers to your physical store and build brand or product awareness.
However, in-store promotions are not just focused on reducing prices. In-store promotions are a marketing tool that helps brands promote their products within physical stores, directly at the point of sale. All in-store promotions are designed to win new sales, customers who otherwise had no intention of buying. This requires engaging with customers in surprising ways, invoking some emotional call to act.
Distributing coupons with maturities causes fear of losing sales. Additional premiums (supplemental gifts with purchase) generate enthusiasm, a great incentive to distinguish your brand from tight competition. 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. 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.
Now, 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. Since existing customers are likely to return to the same business, leverage it with a rewards or loyalty program to increase revenue and maintain a satisfied customer base. Anthropology, a major home goods retailer with more than 200 stores worldwide, is known for doing exactly this as an in-store sales tactic.
A retail promotion is a persuasive marketing strategy designed to drive sales. Most retail promotions attract logic and urgency. They tell consumers: “It's a great deal and they don't want to miss it. The good news is that, thanks to the data, best practices, and huge global retailers that pave the way, there are plenty of in-store selling tips and tricks you can learn from.
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. While an in-store promotion may seem easy to implement, both brands and retailers spend a lot of effort—and money—on it.
Whether your company serves a niche market in a small town or competes with other stores for sponsorship from a specific demographic, you can leverage various types of promotional products, strategies, and events to help your retail store thrive. However, simply calculating the ROI of a marketing promotion is not enough because costs and revenues may change during the period of your promotions. Usually, BOGO is used to move inventory, so if you have a lot of stock that you want to liquidate, this promotion could be a good option. With point-of-sale advertising, the promotion is advertised in-store, where customers or customers pay you for your business.
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. 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. . .