Promoting a retail store can be difficult if you aren’t sure where to start. While the internet is a useful tool, there are still many different ways to promote your retail business without relying on online media. Experimenting with different types of sales and promotion techniques will help you discover how to best connect with the market in your area.
Once you find a few methods of promotion that work, you’ll have more time to focus on the management and customer service aspects of your business. Check out the seven best methods of promotion for marketing a retail store:
Method #1: Percentage Discounts
Percentage discounts are a proven and effective method of promotion in retail. Simply adding a percentage off any item is a great way to get more eyes on your products. Storewide percentage discounts usually work the best compared to just having discounts on individual items.
Adding a 5% discount on the entire store will likely get you more sales than having 60% off of one item. Experiment with different percentages and times to run your percentage discounts. If your sale isn’t profitable, lower the discount by 5% and try again.
Method #2: Display Signs
Visual advertising is an underrated method of promotion for your retail store. One of the biggest advantages retail locations have over online businesses is the ability to attract foot traffic. Using attractive display signs is an effective way to get more people to come into your store. If your store has a window facing foot traffic, you can put a sign in your own window at no additional cost to your company.
Of course, you also have the option of paying for sign placement in areas near your business. Experiment with different POP display designs and layouts, call to actions, and colors to see which works best for attracting people towards your store.
Method #3: Buy One, Get One
Another common promotion method is the buy one get one (BOGO) technique. There are multiple ways to go about executing this offer. You can offer the 2nd item free with the purchase of another item of equal value. Or you can offer a certain percentage off the second item. BOGO is a great promotion technique if you’re sitting on a lot of items that you want to clear out.
Method #4: Try Before You Buy
One of the best methods of promotion in retail is offering try before you buy opportunities. This method often works well with expensive items or products that people will use on a daily basis. The best way to get value out of a try before you buy promotion is to only offer the promotion on items with extremely high satisfaction ratings.
If you have high returns with this method, the promotion can end up backfiring. Try before you buy promotions are great on items that make a noticeable difference in people’s daily lives. Look for products that directly impact your customers in a positive way in order to have the most success with this promotion.
Method #5: Guerrilla Marketing
Guerrilla marketing is a good technique for creating some buzz around your business. Guerrilla marketing can be especially effective in small areas with lots of foot traffic. You can have employees selling bottled water, t-shirts, or other items on the street that are branded with your company’s logo and contact information.
If you have a local sports team, you can see if you can sponsor the t-shirt cannon at the game with your shirts. If you have the capital, sponsoring local events can also be a great form of guerrilla marketing.
Method #6: Email Promotion
Email marketing is another underrated way of promoting a retail location. Finding ways to maintain contact with your customers increases the likelihood of you getting their repeat business. Get creative with how you get people to join your email list. You can put up images of QR codes in your store, which people can scan to activate a coupon after joining your email list.
Email is especially effective for seasonal promotions and updating your clientele about sales. Keep your emails short and concise to avoid overloading your readers with too much information. All the basics, such as your hours, how to contact you, and your ongoing sales, should be available in every email.
Method #7: Host Events
One of the best ways to integrate your business with the local community is by hosting events. Look for different causes that are important to your target audience and find ways your company can become a sponsor. Sponsoring a charity walk or a charity barbeque is a great way to get known in the community while also doing some good.
You can even host events at your store for special days of your choice. What you spend on food and drinks will be repaid to your business in repeat business and a strong connection with your customers.