In-store promotions – when, why and how | shop4pop.com
In-store promotions – when, why and how

In-store promotions – when, why and how

If you have a product listed in retailers, we are sure you’re familiar with in-store promotions.  But how do you ensure your promotional mechanics are delivering the right results for your brand? Every time you run a promotion in-store you should have a specific objective to ensure you’re delivering the right promotion, to the right customers in the right way. Here are three main objectives for executing in-store promotions:

  1. Getting new consumers to buy your product

This objective is about reaching more shoppers and growing your list of current customers.  Your promotional activity should therefore make your offering more appealing than all the other options on the shelves.  To do this, we would suggest the following promotions:

  • Trial/intro promotional price (e.g. £2 instead of £4)
  • In-store sampling or sampling direct to your target audience

Alongside in-store promotions, we would also advise you to put together a thorough marketing strategy outlining your target audience and how you’ll go about acquiring new customers from these segments. Social media, email marketing, PR and print advertisement can encourage brand awareness and contribute  to an increased conversion rate. Whilst in-store promotions supported by relevant POS display gives the prospect that final nudge into converting.

  1. Get customers to buy more often

Now that you have a list of current customers, how can you encourage them to repeat purchase? Encourage your customers to become brand ambassadors. Customers may buy your products yes, but that doesn’t mean they’ll recommend you to friends, follow your journey or engage with your marketing materials. Try to get your customers engaging with interesting blog content, email marketing competitions and your social media posts. Ensure you also reward them with coupons and loyalty offers.  Innovative product usage suggestions also tend to go down quite nicely.

  1. Getting customers to buy more

Getting customers to buy in larger quantities is referred to as increasing the average weight of purchase. If you want customers to buy other products from you portfolio try these promotions:

  • Multibuys (e.g. 3 for 2)
  • Cross-promotions (e.g. buy X and get Y half price)

As your following grows, keep in mind how important it is to reward buyers for their loyalty, rewarding these customers is easier if you’re communicating with them directly through social media and email marketing.

Remember that the promotion you decide to execute must be aligned with your brand values. If your product is a high-end luxury item don’t discount it too significantly. If you do decide to offer a hefty discount make sure you do so in a subtle manner, for example offering an introductory trial price of £2 instead of £4 opposed to promoting the product as half price.

 

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