It’s Sunday evening, the busiest day for your retail store. The day when you expect to get the most sales of the week, meet new customers and greet back the old ones. The evening starts like any other Sunday evening but this time, you have put up a 20% sale as a strategy to increase your profits and liquidate excess inventory due to fewer sales in the previous month. You have the best possible place in the best city mall, and as part of the advertising plan, the 20% sale flyers and your mini product catalog are placed strategically across the mall premises and pretty hard to escape! But as the evening proceeds, something happens that you didn’t quite expect. The store right across yours selling the same goods and products has seen a substantial increase in its sales that Sunday and you are left with a bunch of product notifications and posts from the social media page of the other retailer on your phone.
Wondering why your tried-and-tested marketing didn’t pay off?
The answer lies right there on your phone. The answer to the riddle above is the efforts by the other retailer to go that extra mile by leveraging technology and marketing its catalog where today’s consumers look — digital media. Marketing is a crucial part of business regardless of the size of your retail operation. Everybody needs to advertise and market its product out there to the right target audience in order to get into the game and stay ahead. For decades, the Indian retail ecosystem has relied on conventional marketing techniques, while global markets have taken to digital marketing which has hands down proven to be more effective compared to other traditional offline marketing techniques. The presence of the internet and a smartphone in the hands of almost every individual is the reason why digital media has seen such an explosion. India is home to 402 million Internet users of which 92 million people use social media (facebook, twitter etc.). There’s enough evidence that social media plays a significant role in a shopper’s online and offline purchase decisions. For most consumers, one of the biggest influencing factors for where and what they shop are their friends, and this is why social media plays such a critical role. This is where they get the luxury to see whether they can get the same products for an optimal price and a better service be it an online shopping store or a retail store next door. The latest fashion/technology trends are driven by digital media. People go to the internet to discover trending apparel styles, the laptop with the best features, or to see where they can get the best deal on a product. If you are running retail stores, effective digital marketing is an absolute must in order to create and retain a loyal customer base well as to keep the pulse on changing market trends and competition.
For starters, no need to get fancy…just get the basics right!
Most retailers are under the impression that to be successful in digital marketing is a herculean feat, with the constant need to generate meaningful content and have a dedicated team to be able to get meaningful results. This is not true! A good case in point is from one of our US customers (18-store chain). Within a month of our team setting up profiles for each store on Google, they got 4726 views and 911 clicks on the store page, which then resulted in many new customers visiting the store and making inquiries via phone. The images below show a results summary — these are easily obtained via Google Analytics (a free tool which can be integrated easily into any setup).
Help us help you
We are innovating in the marketing automation space with the help from our customers. For example, if you have a bunch of products that are sitting on the shelves for over 3 months and you’d prefer to get rid of them at a small discount before the season ends, all you would need to do is configure that rule in our system. Since our seller application knows your inventory and sales patterns, we will automatically put out discounted purchase links for those products. The links can be for one or more e-marketplaces (e.g. Snapdeal, Amazon) where you can choose to list your products beforehand via our marketplace integrations. The key benefit is that there’s zero effort involved on your part and you can be sure about driving new sales as well as protecting margins on potentially stale products.
We’d love to hear your use cases and partner up in building the tooling that’s right for your business. Please share your comments here or write to us at [email protected]