Marketing 21 Sep 23.docx

Shelf facings As you probably know, the 4 P’s in marketing are product, price, place, and promotion. All of these P’s are essential for in-store marketing. When it comes to the first P, you can select the way your product looks, from the label, name, design to the casing or bottling it has. For the...

Shelf facings As you probably know, the 4 P’s in marketing are product, price, place, and promotion. All of these P’s are essential for in-store marketing. When it comes to the first P, you can select the way your product looks, from the label, name, design to the casing or bottling it has. For the price, you can focus either on a bigger price to show that it is a premium product or offer discounts to attract more customers. Well, the place stands for the location in which the product is marketed and sold. However, it is not just about the store itself, the placement inside the store is also important. For instance, if your product is put on the bottom shelf or the top shelf. Also, it depends on how many shelf facings your product has. The more, the bigger the visibility. This is why it’s important to check that your products are placed in front, centered and that you have as many shelf facings as possible. In-store trade promotions (price cuts/ discounts) Price promotion is one of the most used in-store tactics. You can lower the price of the product (offer a discount), give 50% off for the second product purchased, or offer buy 1, get 1 promo. Actually, more than 20% of the revenue is spent on trade promotions and more than 55% of them are not successful. You might be wondering what is a good discount percentage for your products. Apparently, for customers, there are 3 sweet spots: 20%, 33%, and 50%. Anything that is higher than 60% seems false and customers wonder if the product is up to standards. Anything lower than 10% is not going to catch their attention. No matter what type of price promo you choose, it is important to measure the results of the promotion. How can you measure the results of your promotion? In-store displays In-store displays are all of the items used to showcase a product, outfit, new merchandise or to demonstrate the use of a product. It’s not just a simple banner or a digital display, it’s about a combination of items located all over the store. For instance, some of the best performing displays are in-store end caps. These end caps are great for product visibility and since they are at the end of the aisle, they will be noticed first. Floor graphics are also very interesting and they attract more attention than you might expect. Why? Because less customers expect to see a product advertisement on the floor. However, there are different types of in-store displays. Some of them are more creative, like dump bins, while others are just simple pieces of cardboard with a message. Measuring the results of in-store displays is not an easy task. There are a few things that you can look at, but you can’t have a clear picture. For instance, you can look at foot traffic. Is it increasing, especially near the new displays? Also, are people stopping and checking out the products? Are they buying them? Sample products People won’t buy what they can’t taste, right? A simple product sample can help them make up their mind. If they like your product they will be convinced and they will buy it, even though it wasn’t on their product list. Nowadays, taking into account COVID-19 regulations, food samples are prohibited which means you will need to think about a different strategy. But keep it in mind for better, safer times. In-store events Organizing an event can take a lot of time and effort, but it can pay off in the long run. There are many types of events you can host to attract customers and to encourage them to purchase different products. An in-store event can help you engage with customers and make them trust and connect with your brand. 69% of consumers believe attending live experiences helps them connect better with the brand, their friends, and their community. Events are also a great way to promote a small shop. With an in store event, you will be able to draw attention to your small business and create connections with people who are going to become your loyal customers. When your small shop is ready for customers, host a grand opening event. During this event you can show the products, tell the story of your store and connect with potential customers. Tips to create the ultimate shopper experience with in-store marketing Set out the mood When you go to a party or when you attend an event, you will observe that the organizer sets out the mood with lighting, music, and other tools. When it comes to a store, you can set out the mood with some chill music so that customers could spend more time relaxing and strolling away in all of the aisles. If your regular audience is made out of young people, you should turn to the top records of the year. Music is a great tool for stores to dictate how fast (or slow) people buy. The scent is also important. Make sure to display products correctly and to keep them all fresh. Nobody wants to go grocery shopping in a store where something doesn’t smell quite right. Also, everything needs to be spotless! Sometimes customers accidentally stumble upon shelves that can make soda bottles or other liquids fall on the floor. This can ruin the shopping experience of another shopper. Even for clothing shops, every piece of merchandise needs to be in its place, neatly folded. Offer Free Wi-Fi While it might not seem like a big deal, we all use Wi-Fi all day, every day. Why not use it inside the store’? It’s easier for customers to send pictures of different products and get the opinion of their loved ones. Also, people tend to spend more time in a place that has Wi-Fi. Use technology Using a complex in-store marketing solution like Tokinomo can help you offer an amazing experience to your customers. Tokinomo can make products come to life, tell their story, and engage with shoppers. With the help of light, sound, and movement, Tokinomo catches the attention of the customer which leads to better sales and brand trust. Customer service Customer service in a store is essential! Make sure that all of your staff is trained and that they know how to answer all of the questions customers might have. It is important to put the customer first and to keep an eye on the behavior of the employees. We all have bad days, but that shouldn’t reflect on the interaction between a shopper and an employee. Train cashiers to be attentive, oriented to details, and a bit of a salesperson. Sometimes, customers might be too shy to ask for what they need. This is why employees need to be helpful and approachable. However, they should avoid being too pushy. Loyalty or referral programs This is an amazing way to give your customers the feeling that they are special. A loyalty card that comes with perks and benefits after they purchase a certain amount is a great way to make customers come back for more. Also, referral programs are great. Customers can refer your store to their friends and receive a better offer or a product in exchange.