Retail Marketing Myths: Don’t Fall Prey

The Loch Ness Monster, Sasquatch, mermaids: all myths we have heard about and likely dismissed as false. Just because someone tells you something is true doesn’t mean you should automatically take it as fact, right? So why fall prey to retail marketing myths that seem so common? Need some clarification? No worries, we’ve debunked the four most popular.  

Myth #1: Customer retention is a lost cause. Sure, gauging repeat clientele can be tad difficult, this is no surprise, but it isn’t impossible – and that by no means suggests that these costs are not worth it. In the retail sector, your bottom line often relies a great deal on repeat customers, so money invested in retaining them is never a waste. No matter what retention strategies you adopt, implementing them is critical. People want to be loyal (well, most of them do), and when they feel as though their patronage is valuable, they are more likely to return – and recommend your products or services. 

Myth #2: Online will become the new in-store. Nope. Sure, online shopping has definitely become more popular with the rising popularity of smartphones and tablets, but this doesn’t mean that the retail location is becoming obsolete. Online sales are expected to continue to rise in the years ahead, but the likelihood of these channels overtaking the bricks and mortar store is slim to none. True, having an online presence is always a good idea –or rather not having one is a bad idea – but that doesn’t mean that relying solely on online will be the only way to survive in the future retail market. What does this mean for you? To compete you have to stay a cut above, so having creative marketing, inventive merchandising, and high levels of customer support and service are crucial. 

Myth #3: Social media doesn’t matter. Big mistake. Social media has become a major part of many successful marketing plans – and it doesn’t cost an arm and a leg! Social media has become a significant tool to influence too – people like your store, they’ll like you online. But watch out, if they don’t like your store, product, etc. they will talk about that too! Managing your online presence gives your customers the chance to see that you care – a good tool for customer retention. 

Myth #4: Price is the main determining factor. The most recent Price Waterhouse Coopers’ global survey report found that price isn’t always king. Instead, the report noted a 10% increase in spending when retailers focus on and provide innovative marketing and high levels of customer service. Just because something is on sale, doesn’t mean that it will be what gets put in the shopping cart. There are many other factors that determine influence, so don’t rely exclusively on price point.  

There is no magical retail marketing book that you can use to solve all of your woes – trust us, we’ve looked – but avoiding common misconceptions is always a smart idea. 

For more information about retail marketing myths, or marketing at retail in general, contact Storesupport today by calling 1-877-421-5081 or visit www.storesupport.ca.

  

Seasonal Superpower: The Strength of Visual Merchandising

With the growing popularity of multichannel retailing, it has become increasingly important to make sure that bricks and mortar stores are actually going to entice people to walk through the doors rather than sit at home and shop online. Not only that, in-store displays go a long way as far as persuading people to buy, so a store’s visual merchandising must do this as well. Seasonal shifts represent an important opportunity to not only change things around a bit, but also take advantage of emotional triggers and tap into them with your merchandising plan.  

Most people respond best to visual stimuli so you have to cater to this. Still not buying into the importance of this strategy? Maybe this will change your mind: according to a recent study done by Retailworks Inc., “good visual merchandising can increase sales from 10 percent to 15 percent.” That is not an insignificant number, is it? We didn’t think so either. Clearly attraction goes a long way as far as beefing up your bottom line. 

Furthermore, the research suggests that displays that are poorly presented or just downright bad can negatively impact all of the other good things that are going on in the store. Is your in-store display lacking? You may not think it’s a big deal, but one poorly executed display can actually turn shoppers off the entire store. 

One of the biggest mistakes that stores make is keeping things static. Not changing displays, especially when the seasons change, is a big no-no in the retail world. In this case, visual merchandising can be a seasonal superpower. Halloween is now behind us, and most retailers will make the automatic switch to prepping for the upcoming holidays. And shoppers expect it; if you don’t have displays in place that showcase this, people will notice.

Other mistakes: too much going on (remember the KISS principle), no common theme or connections between display stock, and the mess caused by holiday shoppers – make sure that these things don’t negatively impact your visual merchandising’s effectiveness.

Don’t discount the strength of visual merchandising or linger when it comes to changing things around. Make sure that you are taking into account seasonal changes and customers’ expectations with regard to them.

Storesupport can help – contact us today to find out all about our suite of merchandising services including planogram and display set up to get ready for the holiday season. Call 1-877-421-5081 or visit www.storesupport.ca 

Going That Extra Mile – How to Ramp Up Your Brand Recognition

In today’s competitive retail environment there are a number of ways to work to ensure sales. There are myriad consumer types and catering to all of these can be incredibly difficult. That being said, one of the most important strategies that every retailer needs to adopt is ensuring brand awareness and brand recognition. Brand recognition is essential not only because it brings people to your store in the first place, but also because it keeps them coming back.  

Sure, we can spout off all we like about the importance of brand recognition, but how about we back it up with something concrete? Consider this: according to the Harris Interactive Customer Experience Impact Report, 60% of consumers often or always pay more for a better experience. That means that if you are providing top-of-the-line service, your customers will remember. Not only that, many of these customers will positively endorse you when given the chance.

Ok, brand recognition is clearly important – but how is it directly related to sales and influence?

Here are some perhaps not-so-surprising social media specific stats from ATYM Market Research that might get you thinking:

85% - Internet users with Facebook accounts

49% - Internet users with Twitter accounts

74% - those Facebook members who use the site daily

35% - those twitter members who use the site daily

29% - Twitter users who follow a brand on Twitter

58% - Facebook users who have liked a brand

Do these make a difference? Big time! People are far more likely to be influenced when purchasing when someone in their social network has liked or endorsed a brand.

Once they are in the door, how can you keep them coming back? The best way is excellent customer service. People don’t want to have to ask for items that are not on the shelf (indeed many will just opt for another item or look for it at a different store), especially if there are no employees around to ask. People also don’t like to shop in unorganized stores - things should be easily accessible as much as they are eye-catching. Your brand is essentially your reputation, so you have to protect it.

Marketing alone will garner some sales, but if your brand can’t live up to or even create an image that consumers will come to trust, you are only doing the job halfway.

Whether you are a brand or a retailer, Storesupport has the tools to help increase your brand recognition and awareness. Contact us today at 1-877-421-5081.

Jingle Bells Chime for Retail Marketing Boom

The holiday season is fast approaching, and with it comes the inevitable traffic surge and selling boom. Shoppers will be out there filling their carts with the latest and greatest from everyone’s wishlist and getting foodstuffs stocked for that holiday party or big family dinner, and retailers, while feeling the added pressure, are the ones to reap the benefits.  

Here are our tips for smart retail marketing to get you prepped for the busiest season of the year. Sure, some of them may seem pretty simple, but it never hurts to get back to the basics.

Tip #1: Keep shelves stocked. This may mean reiterating to employees the importance of ensuring shelves remain full, implementing a strategy that sees them refilled throughout the day, or hiring extra staff to manage the stockroom. If customers don’t see what they are looking for on the shelf, they may just head somewhere else!

Tip #2: Stay social. We all know how important social media can be in the retail world, so make sure that you are maintaining yours. Update statuses and posts regarding sales or promotions. Manage complaints to help boost customer loyalty and brand recognition.

Tip #3: Keep floors well staffed. With the traffic comes extra-long line ups, which no one likes. Make sure that you have enough staff on hand to cover surges throughout the day as well as to be around the store to help assist customers.

Tip #4: Make the most of visual merchandising. We are not saying throw up some holiday decorations at random. Instead, use the season to pull at people’s emotions and guide their purchases by putting together displays that make connections they make not have thought about.

Tip #5: Keep the store clean. Ok, we don’t just mean ensuring janitorial duties are completed each night. During the holiday season you have to be extra diligent about keeping stock organized and in place. Holiday shoppers tend to be less, let’s just say, cognizant, of their actions, so staff members need to be sure to try and keep the store in tip-top shape throughout the day.

The holidays can be the perfect time to cement your brand image and ramp up customer loyalty. How you manage your retail marketing over this period can bode well for the entire year, so let your actions speak for your reputation.

Want some extra back-up for your holiday retail marketing campaign? Storesupport has you covered. Contact us today by calling 1-877-421-5081.

Financial Post: How Bricks and Mortar Shops Compete

In today’s online world, competing with online sellers can be really tough for bricks and mortar shops. The ability to jump online and make a purchase instantly can be really enticing for individuals, and sales reflect this.  

Want some stats? We’ve got them. According to a recent article in the Financial Post, “a study by Boston Consulting Group noted that in 2010 only 3.4% of all retail sales in Canada were made online, but that is projected to rise to 5.3% by 2016.” The article went on to say that of the $454 billion the entire Canadian retail sector made in 2010, only $18 billion came from online sales – but it is predicted that this will increase with the sale of tablets and smartphones.

So are bricks and mortar stores on their way out? The article says no way. Whether you own a unique mom and pop shop or a multi-location franchise, many people still crave that one-on-one human interaction when shopping. They also like to be able to see and feel and try on and test the merchandise before they purchase – and this isn’t going to change. What will change is the expected level of customer service and overall customer experience that consumers are looking for upon entry.

Really? Does this really influence an individual’s choice to shop at a particular location or store? Absolutely! Ramping up customer service can mean huge ROI. Making sure that your employees are knowledgeable and fluent in the language of your brand, that your store is well staffed, and that product is available and on the floor have a major impact when people shop.

Can bricks and mortar stores ignore the internet outright? Sure, if you just want to rely on traditional forms of advertising and word of mouth. But the Financial Post warns that those organizations choosing to do so will find themselves at the back of the pack. Try balancing your in-store presence with one online through social media.

If you own a bricks and mortar retail location, make sure that you are taking into account the impact of online sales on your bottom line. Make sure that your customer experience levels are on par with your brand image and the service you want to provide.

For more information about how bricks and mortar stores can compete with online retailers, please contact Storesupport today by calling 1-877-421-5081 or visit us online at www.storesupport.ca.

 

Not-So-Scary Halloween Retail Merchandising Tactics

Trick or Treat! Have big plans to take advantage of all of the opportunities the Halloween season represents? Sure, any savvy retailer knows that going with the seasonal flow is crucial to attract attention and get shoppers through the door – but are you an expert at actually executing this experiment?

Here is our list of the top 5 not-so-scary Halloween retail merchandising tactics: 

1.      Scary Static Displays. Keeping the same in-store displays month after month means no excitement for your customer. If the window displays or displays on the floor don’t change, your customers notice. Use Halloween as a chance to spruce up that signage or exhibit featured products with a creative window display. People like change – draw on that. 

2.      Sell Add-Ons – but be smart about it. Sure, a no-brainer, but you would be amazed at how many retailers skip this or make attempts that are not so savvy. Just lumping a bunch of products together in a display can actually get negative attention, especially if the connections are not being made. Be creative, but at the same time, be smart about it. Think hard about how things fit together – if they don’t, don’t force them. 

3.      Creepy Coverage. Does your store look like a ghost town when it comes to employees? Keep shelves stocked and don’t make customers hunt for help. If a customer gets frustrated by a lack of assistance, chances are usually pretty good that they will leave your store and head to a competitor’s.  Don’t have extra staff on hand to handle extra flow? Get short-notice people support from a retail merchandising company.  

4.      Dirt Devil in Action. No matter what time of year it is, no one likes to shop in a dirty store, so make sure that decorations (if you choose to put them up) don’t make the store look messy or cluttered. Make sure that employees are cognizant of clean up.  

5.      Start Early. Ok, it is now October, so you should have these things rolled out – but if you don’t, take the time to get them up, and soon. Don’t let your competitors get a leg up. Need a hand implementing those changes (window displays, signage, Halloween planograms, etc.)? Get in touch with a company that can handle it all for you. 

Sure Halloween is a fleeting holiday that is quickly replaced by the excitement over the upcoming holiday season, but that doesn’t mean that you can’t reap the benefits. Get your Halloween retail merchandising plan in place with these handy tips.

For more tips and tricks, please contact Storesupport today by calling 1-877-421-5081.

Powerful In-Store Marketing Doesn’t Have to Be Difficult

One of the biggest hurdles for retailers is developing and maintaining a strong in-store marketing campaign. Taking the time to develop a smart in-store marketing strategy can be costly, especially if you have no prior experience. The time and resources needed to execute it can take away from other important aspects of your business (ex. staff). Instead of dealing with the worry of difficult in-store marketing, let a retail merchandising company help your harness its power easily and effectively.

How can a retail merchandising company help you overcome this challenge? In a number of ways. The role of a retail merchandising company is to help you get a plan in place, no matter what that is, and execute it.

Planogram set-up and signage: if planograms or signage is a part of your in-store marketing, a retail merchandising company can bring in the people to set it up, according to your exact specifications, ensuring that product is correctly labeled and displaced properly. Coupons are included here – in order for them to be profitable they need to be located in the correct space. Signage location should also be considered strategically, and making use of the experience of a retail merchandising company can help alleviate some of the pressure.

Experiential marketing and promotional events: although in-store signage and displays are a major part of any campaign, experiential marketing and promotional events should be as well. Whether you are highlighting a new product or promoting an old one, an experiential marketing campaign is an effective way to achieve this. But it can’t just be thrown together. A retail merchandising company that specializes in experiential marketing can work with you to develop a smart and engaging event that hits all of your targets, as well as provide you with the individuals with the skills and talents to make the event a success.

Remember that any successful in-store marketing campaign can’t remain static. Keeping things up-to-date is all part of the process, and if you fail to keep things current the plan will lose its luster. Make sure that you are constantly updating your strategy to make use of the power of in-store marketing. Again, rely on a retail merchandising company to accomplish this for you.

A professional retail merchandising company that can offer you a hands-free solution to your in-store merchandising woes is the best way to ensure a high level of engagement and customer experience. Don’t stress about it – let someone else take over and make sure that everything is done the way that it should be.

For more information about in-store marketing and the benefits of employing the services of a retail merchandising company, please contact Storesupport today by calling 1-877-421-5081.