In-store retail promotion is any form of marketing carried out within the business locale. Rather than driving traffic to your retail store, in-store promotions target the people who are already there to engage and convert them to loyal customers.
Read this article to the end to discover everything you need to know about in-store promotions.
- Why In-store Promotion
In-store retail promotion lets exploit the opportunities closest to you and have greater chances of winning. Think about it. With whom do you stand a better chance to convert into a loyal customer? The person who is already in your store? Or the one who is far away from your store? There you have it. That’s why in-store promotions are crucial to your business.
- In-store Promotion Can Boost Your ROI (Returns on Investments)
PPMS Product promoters are the key to your in-store promotion strategy and the ultimate success of your business. So who are they, and what do they do?
Product promoters are the brand’s sales representatives in your retail store. They are not your employees. They work for the product’s manufacturing company or brand, and their work is to maximize or optimize the sales of that particular brand. Competent product promoters have the best promotion ideas for retail stores, which allow them to engage in the direct selling of the product and maximize the profits for your business and the company. They are the best shot you have at boosting your ROI.
- Most Purchase Decisions Happen Inside the Store
Precisely 70% of all purchase decisions happen inside the store. 70% is too big a number to ignore. Don’t you agree? That’s another reason why in-store promotions are indispensable to your retail business.
- Display Matters
If statistics are anything to go by, then 50% of all the people who visit your online site will not go past the 1st page of their search results. Only 25% of them will bother going past the 2nd page. For some brands, the numbers are even higher for those buyers who will not go past the 1st page. Brands displayed on the 1st page are likely to get twice as many clicks as those on the 2nd page, and the gap increases as the pages increase. These demonstrate how online product displays can influence the customers’ buying behaviour in a retail promotion.
- In-store Promotions Are perfect for Introducing New Products into the Market
With the best promotion ideas for retail stores, in-store promotions provide an ideal platform for creating brand awareness. It’s time to launch those new products you have in your store.
- Metrics to Measure Performance of Your In-store Promotions
How will you know whether you are using the best promotion ideas for retail stores? You will do so by measuring the performance of your in-store promotions. Use these 5-metrics.
- Total sales volume and value
- Total Purchases
- The average value of purchases
- Customer traffic
- Total profits from your in-store promotions
With this information, now you are ready to carry out a successful in-store promotion in your retail business.