Article on Retail Marketing

How to Develop Successful Retail Marketing

Most of the retail outlets offer the same products. However some outlets are more successful than their competitors. Have you ever thought why it is so? Well, there can be thousands of reasons for that. You must be wondering how to grow your business, how to make your brand visible?

Many people think that creating brand identity is very expensive. In reality you don't need to spend much but to follow the right branding strategies to promote your business. You might have a very small retail outlet but branding it is still important for you. You should invest at least 3% (not a big amount) of your profit in marketing, an integral part of any business.

Market Research

The most important thing is market research. Before deciding your marketing plan you should know about the market trends. Invest some time to understand the marketing strategy of your competitors as well. Taking part in a trade show or some event is a great way of doing so.

Local Newspaper and Radio Stations

A very small business also needs advertisement now a day because nobody will come to you unless you remind them of your existence. You can reach your target audience through various mediums. Since you own a retail outlet certainly the local people are your targeted customers. So place your ad in small local newspapers on a daily basis. It will cost you same as placing a glossy full page ad in a big paper. However the former is more effective. You should also choose popular local radio stations to run your ad.

Online Marketing

One of the very fast and effective ways of promoting your brand is website. It reaches  thousands of potential customers at a time. Moreover people can view it 24x7.They can also buy your product online. You just need to update it from time to time. 

Co-op Advertising

Co-op advertising is a very good idea for you if can't spend much on advertising. You can ask your suppliers or vendors to go for co-op advertising. The cost will be divided but both of you will be benefited from this.

Personal Appearance

This can be very helpful and it is also a good way to earn the customer's faith. If you sell any product of a famous individual you can request that person to visit your shop on a special occasion. Start spreading the news of his/her appearance at least six weeks prior to the visit.

Improve Customer Service

One of the main conditions of a successful business is good customer service. Try to improve your customer service day by day. If the customers are treated well and if they are satisfied with the way you help them buying a product they will surely get back to you. If the customer has not come to buy anything but ask for an information listen to it carefully and try to help him with the information. You may not gain profit directly. However that customer will surely do word of mouth promotion for you, which is the best way to earn the trust of the target audience.

Feel Good

Make the customers feel good as soon as they enter your shop. A fresh look generates a positive attitude. Make your shop clean and clear. Redesign your shop from time to time. Keep the products in such a way so that every customer can find easily what he/she is looking for.

Keep in Touch with the Customers

The most important thing is to keep in touch with your customers. You can ask for their suggestion, recommendation for a brand or feedback. Make a simple form and request them to fill it up. It will give you an idea how satisfied your customers are.