What do you want from your next retail promotion? Maybe you’d like to raise awareness, get new customers, sell off old stock, or a blend of all three. It’s worth looking at the benefits first. Once you know what you want to accomplish, it’s easier to come up with an action plan that works for your business.
Here, we delve into the top 8 benefits of retail promotions and provide links to helpful resources.
As a large format printing company, we can provide all the materials needed to get your brand noticed. You can also visit our online printing shop for custom-printed products.
Contents
- A customer engagement boost
- A welcome lift in sales
- Better brand visibility
- Lasting customer loyalty
- More customers than ever
- Insights into buying behaviour
- Get custom print & installation
Benefit 1: A customer engagement boost
A good promotion will grab a person’s attention and encourage them to buy. At the very least, they’ll be motivated to interact with your brand, either by visiting your store or signing up for your newsletter. A strong retail promotion strategy is likely to create an online buzz, meaning an uptick in social media comments, likes and followers.
So how can you boost engagement like this? First, you’ll have to decide how you’d like them to engage, then encourage them to do so. For example, you could get them to share an image online in exchange for a reward, such as a discount code or a place in a prize draw.
Benefit 2: A welcome lift in sales
A retail promotion can help you to make a lot of sales in a short space of time. While some luxury brands shy away from this practice, as they think it hurts their ‘high-end’ reputation, others like Pandora use regular promotions to keep making sales. This can encourage hesitant buyers to take the plunge. If it works for other brands, then it can work for yours too!
Want to get the word out there but don’t know how to start? See these sales promotion tips for advice and ideas.
Benefit 3: Better brand visibility
The importance of retail promotions isn’t just down to sales. It’s also about raising awareness. An effective promotion, when coupled with a strong marketing campaign, can raise your company’s profile and turn it into a household name. In this way, a retail promotion benefits customers and the company alike; the customer gets a great deal while you get your branding out there.
To grab attention and get people to remember you, you’re going to need visual assets. Why not make your car or van into a mobile billboard? Vehicle wrapping is one of the most cost-effective ways to increase brand awareness; our guide on wraps vs traditional marketing looks at this in more detail.
Benefit 4: Lasting customer loyalty
Your retail promotion strategy can impress visitors so much that it turns them into permanent fans. Someone who knows you’re open to a good promotion or sale is more likely to watch their inbox for deals, and they might visit your store more often.
Running a promotion can also highlight your brand’s unique selling points. Big on sustainability? Promote on Earth Day to educate potential customers on how your brand is the eco-friendly choice. If they’re into ethical purchases, they won’t want to go anywhere else.
If you’re wondering how to brand your space in a decorative way, check out these retail branding ideas.
Benefit 5: More customers than ever
A loyal fanbase is great, but if you’re seeing the same faces time and again, it may be time to extend your reach. It makes sense that more customers mean more revenue, but you might need to get creative to find them. For instance, you could encourage impulse purchases through flash sales. One impulse purchase today could lead to a new recommendation tomorrow.
A sense of urgency taps into impulse buying tendencies, and to do that, you’ll need to display products with clear messaging and a strong call to action.
These tips will help you design like a pro, whether you’re making a poster, vinyl window graphics, wall stickers, or point-of-sale display items.
Benefit 6: Insights into buying behaviour
You can track buying behaviour to see which methods work and what you should repeat down the line. This will help you hone your next retail promotion strategy to perfection.
Collect data by tracking purchases, checking social media engagement, and looking at email open rates. If you quickly run out of free samples, you’ll know it’s a method that works for your customer base!
Why not create a photo op and encourage people to take selfies? When coupled with a hashtag, you’ll be able to see the results online. Murals and wall graphics make superb backdrops. Alternatively, you could tap into the power of window graphics.
Get custom printing and installation
Now you know the benefits of retail promotions, you’re better equipped to take your next promotion, sale or event to the next level. At Raccoon, we specialise in turning creative ideas into fully realised, practical spaces. Beyond custom and large format printing, we can help with everything from installation and logistics to removal.
With sustainable options ready to go, you’ll be doing your part for the environment – and that’s something worth shouting about.
