How Good is Your Retail Store Advertising Strategy?
It's been said that advertising is the lifeblood of every retail
business. This is definitely true with our retail store - we can
see a direct correlation between an effective advertising campaign
and increases in customer traffic. As an independent retail store owner you know that you have a limited
advertising budget and a great need for new customers. This makes
for a situation where you cannot afford to make very many mistakes
with your advertising campaigns. Here are some key steps in planning your advertising strategy: 1. Have a detailed written plan. Advertising is expensive. Your
business depends on getting new customers to survive. You cannot
afford to "wing it" here. 2. Have a clear idea of who represents your store's typical customer.
Your advertising needs to be focused on reaching your target market. 3. Avoid image advertising and focus on product and event ad campaigns.
Image advertising need repetition to be effective while product and
event campaigns produce immediate results. 4. Know how much you can spend. Your advertising expenditures should
be within the range of other similar stores. Advertising to sales
ratios vary by store type. Find out what yours should be and use
this as a benchmark. 5. Copy or run similar campaigns that have worked for you in the past.
These become your "bread and butter" campaigns that you know you can
count on to drive traffic and sales. 6. Try as many low cost advertising campaigns as possible to
supplement what you know works. You can find detailed information
on low cost advertising campaigns at independentstoresuccess.com. These
campaigns are low risk and can offer high rewards for your target
market. 7. Calculate the results of every advertising campaign. You need
to know the effectiveness of each so that you can build on your
successes. 8. Take action and put together your advertising campaign. Knowing
that you should do it is different than actually taking the steps
to do so. Your business depends on you to advertise. ==============================================================
Every Tuesday we send out a FREE Retail Profit Tip to those who have registered to receive our FREE newsletter. If you have not registered yet, you'll want to do so that you don't miss out on this great free content. This email newsletter is brief and on topic - we know that you're busy and don't have time to waste. In it we discuss:
- Low cost retail marketing strategies
- Easy to implement ways to increase your sales
- Proven ways to cut your overhead
- First hand insight into running a profitable retail business
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