[Report Abuse]
[Login to Blog] kennethoverton's Blog
3 Things You Need to Implement To Prepare For the

Take Me To Post Comment Form

If you have a retail store, then it is crucial that you change up your game plan. If you don't, you could miss out on major retail trends and end up having less sales. Your competition will eat your lunch while you wonder how the world of business left you behind. Instead, you should implement strategies that help you get ahead right now and leverage your resources for the future of retail:
1. Online / Digital Retail
Retail stores are losing a lot of business to online stores right now. And the answer is omnichannel retailing. Better methods all around are being used by your digital counterparts right now and you need to adapt or lose business.
The way you use data, or don't, will determine how competitive you are going forward. One of the huge advantages that online stores have right now is that they can track everything. From visitors, to clicks, to subscribers, to sales, to advertising performance (on social media like FB, Twitter, and the like). This data allows them to tweak their campaigns. They can deploy their cash in a way that gives them the best return and least amount of risk. Their websites and sales funnel act as assets that always improve.
You need to start collecting data on your stores as well. Aside from setting up a website, which you should already be doing, you should track in-store purchase. Tally the results of certain posters and ads in your store and compare them with sales. Come up with a way to see how much foot traffic you're getting and how many sales turn into repeat sales and referrals. There are probably a number of data points you could be using right now that you are not.
Ecommerce stores seem to be better at marketing than traditional retail. They understand their core target market. You can emulate this as well online. The first step is targeting:
Target Market
If you are going to compete with online retailers, you must have customer avatars. You need to understand who your ideal customer is exactly. This allows you to save money when buying ads online because you can target more narrow and avoid overpaying for exposure. The second step is to also define the kind of people you don't want as a customer. This allows you to avoid wasting energy on them or reaching their email inbox or other contact point.
2. Faster Delivery
One of the reasons that online retailers are winning right now is that they understand the importance of speed. Faster delivery is everything in this world. If you use drones, for instance, you can have a unique selling point that puts you above the rest.
3. Copywriting
If you haven't tweaked your copywriting lately, it's time for an upgrade. To make it simple, use the AIDA method. First, grab attention with bright banner ads and compelling copy and headlines. This simply gets clicks to your website.
The second step is all about building interest. Show them the products they have been asking for. You get this data by doing your research on modern trends. Once you have peaked their interest in a leading product, you can build desire for other brands in your store.
Finally, once you have gotten their attention, built interest, and captured desire for other products, you can ask for action with calls to action and "buy now" buttons in the right places. Be sure to test these marketing techniques so you can improve and keep up with your other online competitors.
When it comes to competing in retail, you need to use every trick in the book. If you don't, you could fall behind fast. Ecommerce is dominating online right now, so use the tips above and make sure you put your company in a position to dominate your market going forward instead of losing business to the competition.

Latest Activity: Apr 16, 2018 at 9:45 AM

Blog has been viewed (50) times.

Log In to post comments.

Previous blog entries by kennethoverton
Boost Your Testosterone Naturally With Exercises
July 18, 2018
Low testosterone may not be something men are comfortable talking about, but this issue is affecting more men than some would like to admit. This could affect you in a number of ways; for example, some men may experience mood swings while others could deal with low libido. There are ...
Read More »
The Best and Worst Pet Companions for Your Kids
July 17, 2018
Deciding to buy a pet for your child means taking on a big responsibility and, depending on your child's current level of maturity, you may be taking care of the pet yourself. Yet, over time, it can teach your child the importance of caring for another and the obligations that ...
Read More »
Direct Selling: Things to Do Before Joining
July 17, 2018
  Direct Selling: Things To Do Before Joining Nowadays, people have found various ways of earning money. While some go for another day or night job, several others have learned to empower themselves by simply going into business. Starting your own business gives you the freedom that 8-hour day jobs ...
Read More »
Why Dressing Well on Game Day is Important
July 13, 2018
When you are on a sports team, nothing is more important than being properly prepared for a big game. When it comes to the day of the game, there are many different things that you will need to do to make sure that you are as prepared as possible. One ...
Read More »
Chefs Cooking Up Cuisine with All the Best Brands
July 12, 2018
Chefs Cooking Up Cuisine with All the Best Brands Talk to one chef and she will say that one brand of ingredients may be better than another. Talk to another chef and chances are likely to receive a similar reply. So, what this means is that every chef is different ...
Read More »
[View More Blogs...]

Powered by
Morris Technology