|
|
|
A
Comprehensive Free Resource of Small Business Information, Packed With
Dozens of Guides, Tools and Techniques. |
|
|
 |
 |
|
|
|
Retail
Advertising and Promotion
Two approaches may be used to
increase both customer traffic in your store and the sale of specific
items or merchandise lines. These approaches, best used in conjunction
with each other, are:
- Advertising - which addresses those potential customers who are not
within the store
- In-store promotions - which can attract the attention of customers
within the store or via window displays
Advertising
Although the primary purpose of this section is to discuss merchandise
management, advertising is so important to the concept that its inclusion,
though brief, is necessary.
There are two major types of advertising:
Advertising to acquaint potential buyers with the special features of
a product. With many industries, advertising of this type is done by
the manufacturer of the product. Quite often, however, the retailer must
do some of this advertising. When this occurs, it is often necessary to
work with an advertising agency so they may help you write the copy
(wording) such that the advertising will bring the best results. Such
advertising concentrates almost solely on the single featured product.
Advertising the availability and price of nationally known
merchandise. Much retail advertising is merely directed at letting
potential customers know that the product is available and informing the
customer of special prices or promotions which may encourage her/him to
buy, at your store. This is perhaps best done through 'Omnibus' ads
which feature many products, their prices, and brief slogans about their
benefits. Consumers very often "shop" such ads and will come into your
store to buy one or two of the items listed. While there, they buy other
things on impulse.
Whatever your message may be, there are many ways to advertise -
depending on how much information you wish to impart to prospective
consumers, what kind of information (audio and/or visual), and how many
consumers you wish to reach.
Retailers who cater to local clientele may use advertising methods such
as:
- In-house flyers indicating products and bargains
- Signs both internal and external to the store
- Informative in-house displays of merchandise
- Direct mail advertising
- Local newspapers
- Distribution of flyers by hand or using the local newspaper
deliveries (some papers have such arrangements)
Those retailers who wish to launch a large scale campaign may, of
course, resort to advertising via radio, television, or widely circulated
newspapers.
It is very important to remember that for any kind of advertising,
single ads bring very sparse results. In order to make an advertising
campaign successful, it is usually necessary to advertise repeatedly (five
or six times during a one to two week period) to acquaint consumers with
your service or product and, most important, with your store. It is also
necessary to maintain a regular program of advertising throughout the year
in order to continue bringing customers into the store.
Continual experimentation is necessary to determine which approaches
are best. Although proper advertising may involve an initially high
expense, if it succeeds both in drawing more clientele into your store and
in increasing sales in both advertised and unadvertised products, the
initial investment may more than pay for itself.
Once advertising has brought the consumer into your store, promotion
and sales efforts must transfer the customer's attention and interest into
desire and action to buy.
In-Store Promotion
Promoting merchandise may often be achieved by special arrangements
with a manufacturer or a wholesaler. Often new merchandise will be offered
at low introductory prices and the manufacturer or wholesaler will provide
the retailer with special informative displays of the product as well as
offer special rewards to the consumer.
Many times a manufacturer will not offer displays but you will want to
promote certain merchandise nevertheless. Basic ways through which you may
create your own in-store promotions are:
- window displays
- special in-store displays
- signs and posters
- personal selling efforts
Displays
Both in-house displays of merchandise and advertising displays should
be:
- attention getting in coloration and layout
- informative in regard to the product
- either a direct or subtle sales pitch to convince the customer that
he or she needs the product
- informative of price, especially if it is a 'special price'
Both display advertising and in-house displays often do well to feature
a number of related products, some of which may or may not be on sale.
Past studies in advertising have shown that a person's eye is generally
attracted to the center of a display, then off to the right of center and
lastly reaches the edge of the display. It is therefore good practice to
place a featured item, which may be on sale, at the center of the display
and another product for which you most wish to generate sales, to the
immediate right of the featured item. Other related products may be placed
outward from around the center of the display.
When creating a display, it is important to tie-in merchandise lines
with one another wherever possible. In this way, customers who are in the
market for a specific product are also exposed to many related products
and accessories which they will often buy. Such tie-in displays also
create a more organized appearance of your store and will make products
easier to find. For example, a person looking for toothpaste might be more
likely to buy a toothbrush, dental floss, or mouthwash if those products
are in close proximity to the toothpaste.
Tie-in displays also help to generate impulse buying. Quite often an
advertised or 'sale' product will draw people into the store who will buy
not only the advertised product but will also buy, on impulse, other
unadvertised merchandise. Sales are often helpful to impulse buying since,
when people feel they are getting a good bargain, they are often likely to
reciprocate by purchasing other merchandise from you with money saved from
the sale.
Sales Effort
All promotions and attempts to interest customers in new lines, new
products, or in special sales, will work better if they are supported with
sales effort. For example, just before a product is rung up at the cash
register, it is always a good idea to ask a customer whether he or she
knows of a special sale, knows of a special product you are promoting, or
could use something that goes well with the things the customer has
already purchased.
If such reminders are given in a friendly way without being persistent,
many customers will make additional inquiries and often additional
purchases.
ON-THE-JOB ACTIVITY
For your next in-store promotion, you might try using a tie-in display,
with the featured item in the center of the display, surrounded by related
products or accessories.
If possible, discuss your ideas with a person knowledgeable in
advertising; pursue any additional ideas which may arise from such a
discussion.
Food For Thought
Addiction can work against
you, or it can work for you. It just depends on what you're addicted
to. When you get yourself addicted to success, you'll want more.
You'll do whatever it takes to get it.
Look at how many people are addicted to cigarette smoking. It is a
smelly, disgusting habit. It's expensive, unhealthy and alienates
other people. Yet millions continue to do it. They are unwilling to
stop themselves. Why? Because it makes them feel good. Or how about
heroin? This addiction is on the rise again. Using herion requires
involvement in an underground culture. It is expensive, it involves
sticking a needle into one's own body, and it consumes and destroys
life. Yet more and more people are doing it. Why?
Because it feels good.
Success can feel good, too. It can feel very good. And unlike tobacco
or heroin, the "high" from success and accomplishment doesn't fade in
a matter of hours.
Once you've had a small success, then it becomes easier to get
addicted to success. The "high" of accomplishment makes you want more.
That's why it is important to set some small, quickly attainable
goals. When these goals are reached, you "feel good" and you look for
ways to do it again. That's how most addictions start out -- small.
Each time you experience success, savor it. Enjoy it. This is vitally
important, because the more you "feel good", the more addicted you'll
be.
Get yourself addicted to success, and you can't help but succeed.
Start small, and really savor each accomplishment. You'll be "hooked"
in no time. Because it feels so good, you won't want to stop.
A great freedom comes when you have done everything that needs to be
done. When you don't have the burden of things you've said you'd do
"later", you are free to pursue your dreams.
When something needs to be done, do it now. Then you only have to deal
with it once. If you keep putting it off, you spend an enormous amount
of energy worrying about it and feeling guilty about it. And it's
still not done. Who needs that? Either do it now, schedule a specific
time to do it, or decide NOT to do it. Don't carry around a lot of
vague "laters". They clog your brain and your spirit, and slow you
down.
When you stop stockpiling "laters" and start taking decisive action,
you gain clarity, focus and effectiveness. Do it now!
The way to true abundance is to reject the scarcity mentality.
Stop dwelling on what you DON'T have. Instead, focus on what you COULD
have, what you could BE. It makes all the difference in the world.
Trying to get what you want by taking it from others will never work.
Whether your actions are legal or not, you'll always come up short.
Because this "zero-sum" mentality presumes scarcity. And when you
dwell on scarcity, that's what you'll get in your life.
Learn to think with an "abundance" mentality. You can start by being
thankful for the things you do have. Learn to appreciate the beauty
around you. Realize that it's not necessary to own or control the
sunset, or the sky, or another person in order for them to fill your
life with joy. Understand that you can have lasting success only by
providing |
|
|
Copyright © 2007
The Small
Business Treasure Chest Inc.
All Rights Reserved. |