In-store promotion is a marketing strategy used by both retail and service companies to drive traffic to the store and increase sales. It involves the use of promotional materials such as coupons, signs, banners, television videos, advertisements, etc. to attract customers and encourage them to purchase products. In-store promotions can be very lucrative and can help you increase sales by 20%, but 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.
There are several strategies you can use in-store to attract new customers. Offering a BOGO or discount on your product is a great way to familiarize new customers with your product. You can also use data collection to better understand how consumers navigate your store or where they spend more time. Roadshows are a series of traveling pop-up stores that present the brand's products in markets where they are not mainly found.
Influencer marketing is another great way to leverage buying power for in-store promotions. Social media platforms can also be used to drive in-store sales. In addition, there are 15 sales tricks and in-store promotion tactics you can use to get started. These include offering discounts when current customers refer a friend or promote them on social media, hosting events, using signs in your store, organizing social media contests in the store, and going the extra mile for customers.
Sales promotions can be advertised through free channels such as social media, email, or your website; or they can be the focal point of your paid advertising campaigns. In-store promotion plays a crucial role in consumer rebranding and has many advantages. It helps increase revenue through impulse buying, allows you to reach customers with high intention when they find your business on Google Maps and Search, and helps you better understand foot traffic and its sales conversion rates. However, it is important to consider the disadvantages of sales promotions as well, such as the cost of running the promotion and the risk of losing money if it does not generate enough customers.