If you own and operate a small retail business, this guide will give you a proven system for marketing your store, allowing you to compete with online merchants and big-box stores alike. Full of fresh and innovative ideas for promoting small stores, it will show you how to create a great in-store experience and build loyal, long-lasting relationships with customers.
Basing shopper marketing strategy on customer insights is what differentiates market leading retail brands from weaker competitors. Many retail organizations lack business development and strategic departments that collect experiences, set benchmarks and create models and manuals. Retail Marketing Strategy makes the information available to drive new ways of thinking and make retail practice more agile for everyone. Outlining the five key capabilities required for retail excellence, namely in-store execution; organizational development; fact-driven decision making; multi-channel operations, and understanding customers, Retail Marketing Strategy answers some of the most difficult questions in retail including how to innovate to develop new ways to interact with customers across multiple channels, and how to replicate online success stories from other sectors. Practical steps are put forward for collating and interpreting the data generated in shopper activity, helping to make sense of trends and build effective strategy. Guidance is based throughout on neuromarketing research, providing a clear framework for building in experiential elements such as scent or music into the retail environment to really engage with consumers on an emotional level. If you are a marketing, branding or supply chain professional working in retail seeking straightforward and research-driven techniques for building lasting customer loyalty, or you are responsible for driving retail strategy in your organization, let Retail Marketing Strategy be your guide.
Most store owners get into retail because they have a love for both people and the products they sell. They build their stores, hire friendly staff, unlock the doors and wait for the world to come in. The question in their minds isn't if customers will come, but when. All too often, retail business owners fall victim to "the new guy" syndrome: they build a new store, open their doors, and rest on their laurels only to see their sales erode--rapidly. It's easy to get excited about your new business when your store first becomes visible to customers during your grand opening, but it's another thing to generate this customer excitement some two years later. Successful retailers don't fall for "the new guy" syndrome and develop marketing strategies to maintain their sales momentum well beyond their break-in period. These marketing strategies may include brand advertisements in newspapers, direct mail, radio and television-all the usual advertising options available to retailers.But where the real war is won is in the trenches at the local store marketing (LSM) level. The most successful retailers win the battle for customer traffic because they make an operational commitment to local store marketing. They know local store marketing captures the entire customer base in the critical three-mile radius surrounding their store. In addition, they know that implementing local store marketing is low cost or no cost. (Notice I didn't say "no work," though!) Successful retailers effectively infuse their year-long promotional campaigns with local store marketing, building a strong sales foundation for sustained and long-term growth-and you can too! That is where this manual comes in. Local store marketing is a "must" for you to fully capitalize on the sales potential of your store. Successfully capturing these customers will translate into both short- and long-term sales growth--in addition to effectively locking out your competition. The sales success of your store depends on you proactively going after sales using local store marketing, instead of passively waiting for customers to find you.The decision is yours: you can either choose the passive route --letting your success or failure be predicated on customers opting for your store--OR you can aggressively maximize the sales opportunities within your three-mile business area. Prudent store operators take control of their marketplaces to maximize every sales opportunity. This manual is designed to help you do just that by tapping into the power of local store marketing for your own store.
