6 Retail Marketing Strategies To Improve Conversion Rates
Acquiring new customers and enticing existing customers to return is essential for any business, regardless of size. Although this can initially seem like a daunting task, by following these 6 simple and actionable retail marketing strategies, you too can improve your conversion rates.
1. Understand Your Target Audience
The most important aspect of a successful retail marketing campaign to establish is a clear understanding of where you customers are. Find out whether your customers are predominantly coming to you via online means or whether they prefer to access your physical store.
You also need to be aware of which digital platforms your target audience use to ensure that you are engaging your customers on the most effective channels. Equally important is to find out which devices customers are using to access your site and ensure that your site is responsive.
2. Make Use Of Social Media
It’s well worth investing in your social media presence. The three main platforms to focus on are Facebook, Instagram and Pinterest. Be sure to monitor which platform attracts the most customers to help you focus your marketing efforts more efficiently.
“There are a few different key strategies that you should definitely use on social media. Firstly, make sure that you have high-quality photos of your products. Another great strategy is to share videos. The more emotionally compelling the video content, the more likely it is to resonate with your audience and be memorable,” explains Paul Carroll, a marketer at Brit student and Next coursework.
3. Connect With Your Local Area
A simple, but effective strategy is to connect with your local area, especially if you are hoping to increase foot traffic in your store. The more relevant your business is to the local area, the more it will feel like part of the community, which in turn will attract more people to stop in. You can create locally inspired merchandise, use geotargeting on social media platforms or even include local colloquialisms in your posts and adverts.
4. Create An Experiential Retail Experience
The idea of an experiential retail experience is becoming increasingly popular and is an effective way to increase foot traffic in your store.
“You could offer special events, such as workshops or demonstrations of how to use your products. Alternatively, you might want to consider hosting an event with an expert in the field or even a special guest, such as a popular influencer or local celebrity. You might also offer in-store only discounts at selected times of the year,” says Tracy Hooper, a business writer at Australia 2 write and Writemyx.
Another successful strategy is to create a designated Instagram wall in your store where customers can take their own pictures. Interactive walls help to create a sense of community so you could even create a feedback or sharing wall, where customers can leave reviews, feedback and photos.
5. Make Use Of SMS And Email Marketing
If you’re not already using SMS marketing, then you should definitely consider it. Along with collecting customers’ email addresses, consider collecting their mobile numbers too. You can then send them relevant marketing campaigns directly to their mobiles, where they are more likely to see them.
Similarly, email campaigns remain one of the most effective forms of marketing. By segmenting your customers into specific groups, you can create more personalized emails which are more successful. Additionally, make sure that your emails offer value to your customers. A voucher code or exclusive content is a particularly successful strategy, especially when combined with a clear call-to-action (CTA).
6. Entice Inactive Customers
You want to make sure that customers return to your store. Creating win-back campaigns for customers who have been inactive work particularly well, especially if you offer them something in return, such as a discount code.
For repeat buyers you might want to upsell products based on their previous purchases. Another useful tactic is to consider the lifespan of your products. You can then send targeted emails to your customers before they run out and need to buy a new one to entice them back to your store.
By following these 6 simple steps, you can target and acquire new customers. Above all, make sure that you have a clear understanding of your target audience. You can then create marketing campaigns which offer value to your customers and keep them coming back.
Michael Dehoyos works as a professional editor and content marketer at Phd Kingdom and Dissertation writing service. He works closely with companies of all sizes to improve their marketing strategy concepts. In particular, he is passionate about helping companies use technology to better connect with their customers. Michael also regularly writes articles for Dissertation help, as well as having contributed to numerous other websites and publications.