Intensive sales dynamics is the main condition for the successful development of the retail business. In many cases, this criterion is even more important than the profitability of the store. In particular, large retail chains are developing precisely due to high turnovers. In what aspects can the owners of small outlets successfully adopt the experience of large market players? How to increase sales of a retail store and keep its business model working?
An entrepreneur who has set himself the goal of increasing the intensity of trade, will have to solve the following main tasks:
- ensuring optimal client traffic;
- increased conversion rates (converting store visitors to buyers);
- maintaining customer loyalty.
Consider ways of solving each of the noted problems.
Customer acquisition
A key factor in the sustainability of a retail business is store traffic. How can you increase it? There are two main approaches to solving this problem.
First, an entrepreneur can try to increase traffic to the store as a whole - by sparking consumer interest in the brand itself. Secondly, it is good to apply a strategy in which the main factor in stimulating demand is not so much the outlet itself, but a particular product or category of products that are sold in it.
Tools that are optimal for the implementation of both approaches are familiar to many business representatives: advertising and promotions. It is possible to use channels that differ significantly from each other both in communication technologies and in the goals of the events. Therefore, the entrepreneur will need to choose from them those that are optimal for both brand promotion and for the sale of specific types of goods.
As for advertising, now the following types of advertising are most in demand on the market:
- the publication of banners and advertisements in offline media (print magazines, newspapers, on TV, radio);
- street shows;
- Advertising through online channels.
In turn, within the framework of each of the mentioned types of promotion, there are separate specific tools and strategies. How to leverage advertising channels to increase customer traffic through the first method - when you need to stimulate interest in the brand?
Most cities have newspapers and magazines that cover almost the entire spectrum of social groups due to free, massive circulation and effective ways of distributing them (for example, by mailboxes). Such media should be involved in solving the problem in question. The fact is that due to the massive distribution of the corresponding sources, stable associations with a specific outlet are formed in the minds of buyers. But if a person considers that the outlet is hospitable, at least personally for him, then this will contribute to building a good relationship between the store and the client.
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