Some of the most common types of retail marketing:
1.
Online and digital marketing
The
mix of online marketing tactics includes everything from optimising your site
for search engines (SEO), automated abandoned basket emails and utilising
social media with organic posts and paid adverts to pay-per-click adverts,
affiliates and content marketing.
2.
Direct marketing
Any
marketing that is designed to get a direct response. This is usually a sale but
could be a showroom visit or a request for more information. Direct Marketing
includes letters through the post, flyers and email newsletters too. Television
‘infomercials’ are even considered a form of direct response marketing.
3.
Point of sale
In
store promotions such as posters, shelf talkers or samples are known as point
of sale. You are grabbing the consumer’s interest at the point of sale.
4.
Public relations
PR
relates to managing the perception of your brand, and making positive
associations and stories to your company. Digital and traditional PR works to
‘spin’ stories that put your brand in a position of authority, maintain
relationships with small and large media outlets and provide expert comment on
your industry.
5.
Experiential marketing
If
you want to promote your product or brand, give consumers a taste of what it’s
like in the real world. Samples and test drives are a good example of this, but
some marketers have gone to incredible lengths to promote a product.
6.
Limited time discounts
Discounts
are a common tactic to get shoppers to buy. They’re also a good way to clear
stock. Add a time-limit to increase the sense of urgency and the fear of
missing out.
7.
Catalogues
A
catalogue is great for allowing people browse in their own time. If they leave
your store without buying, just hand then a catalogue on the way out. It
maintains that connection, for when they are ready to buy and showcases your
entire range.
8.
Word of mouth
Word
of mouth is one of the most powerful tools of marketing. A good recommendation
often leads to a sale, or at the very least a highly qualified lead. As well as
great products, deliver great customer service and a strong brand. It will help
people spread the word.
Some
companies formalise the word-of-mouth strategy with a referral scheme known as
refer-a-friend. These deliver rewards for both referrer and referee.
9.
TV and radio advertising
The
more traditional channels of television and radio advertising are still useful
in an overall marketing mix. Television adverts are often mirrored online
through sites such as YouTube, while some companies choose to create
‘television’ adverts purely for YouTube alone.
Television
sponsorships are frequently used too.
10.
Partnerships
These
are a good way of reaching another potential audience and might take the form
of a promotional flyer that another company inserts into its current orders
when they are sent out. Or a fast-food chain might partner with a cab company
to provide a door-to-door delivery service.
The most common outlets for
your retail marketing strategy:
1.
Department stores – these offer high levels of customer
service alongside a wide range of products and possibly a shop-in-shop model,
where other brands sit within the same area of the department store.
Prices
typically vary over time, and discount sales are common. In these environments,
a customer has the convenience of many products in one place.
2.
Supermarkets – once the main outlet for food, drink
and groceries, the supermarket has diversified into banking, insurance and
homewares.
In
a competitive industry, supermarkets have huge buying power and will sell at
low prices, in exchange for volume.
3.
Warehouse retailers – usually in a no-frills environment,
warehouse retailers keep over heads down and can sell a wide range of goods at
competitive prices.
4.
Speciality retailers – here expert knowledge is backed up with
premium prices. Speciality products are added as part of an added value
experience.
5.
Ecommerce retailers – also known as retailers. Products are
sold online via a website. These are highly convenient and can pass overhead
savings, for example not having a bricks and mortar store, onto customers. Most
can ship products to anywhere in the world.
6.
Convenience retailers – smaller localised stores, often found
in residential areas. These offer a smaller range of products, but at higher
prices due to the nature of convenience.
7.
Discount retailers – a variety of discounted products with
low prices. Discounter retailers buy less fashionable and overstocked branded
products from a range of suppliers and resell at a discounted price.
All
or just some will fit your strategy, depending on where your customer is.
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