Do you want to increase your retail sales in an innovative and effective way? We understand how competitive this industry can be. But competitors are not a problem if your business occupies a niche market. In a digital world where consumers have access to any product available in online stores, you must have an advantage that will make customers choose you.
Here are our top eight tips for increasing your retail sales.
1. Maximize the potential of information
As Peter Drucker said, "You can't manage what you can't measure." If you are in retail, do not forget to measure the effectiveness of your sales and marketing tactics. Here are some simple indicators available with our intuitive real-time performance management tools:
Number of clients and buyers
Of course, one of the keyways to improve sales in retail is to increase the number of customers who enter the store. But you also must try to convince these buyers to make a purchase. With access to customer volume data, you can track your customer/customer ratio and develop ways to improve it.
Sales volume per employee
By tracking average sales per employee, you can understand who is doing well and who is doing a little worse. Additional training can be provided for low-performing employees.
Average sales per customer
If you are looking to increase sales and cross-sell options to customers, this metric can tell you how effective your efforts are and help drive retail sales.
Choose a system that remotely and quickly provides real-time staff and branch performance data. Our system has a user-friendly interface to provide you and your employees with control of completed tasks and assistance in achieving key performance indicators.
2. Using Digital Signage in your store
Through the implementation of a digital signage solution, you can really make a strong impression on customers. From a functionality standpoint, digital screens should provide a clear guide that helps customers find what they are looking for, be it products or the checkout area.
How can you use digital signage to increase retail sales?
Showcase
Use digital screens at the front of the store and share a simple and compelling visual message. Messages should give a clear picture of the store and talk about exclusive offers and promotions that will attract new customers.
Place of sale
At points of sale where people are constantly queuing, you can share the latest news with your customers. Why not use the checkout area to advertise your loyalty program? Staff can educate the customer about program details at the time of purchase and encourage the customer to enrol.
3. Attract new and regular customers to your business
No matter what retail sector you operate in, it is worth considering creating a customer loyalty program. This will help strengthen your brand image and influence specific customer groups without incurring excessive costs. By offering discounts and promotions, you will create a growing base of loyal customers.
What are the benefits of implementing a customer loyalty program?
· Attract new clients,
· Retain loyal customers.
4. Make your store a destination
If you want to increase your retail sales, why not turn your store into a destination? This will differentiate you from competitors who offer prices lower than yours. You can focus on factors that make the shopping experience more enjoyable. For example:
· Availability of Wi-Fi,
· Battery charge points,
· Seating,
· Free drinks,
· Consultants.
This will not only increase the number of consumers, but also customers in your store longer and encourage them to make a purchase.
5. Online presence
Nowadays, it is important for stores to manage their online presence. This will help increase sales. Online presence involves creating a website that tells everything customers need to know about your unique business and product offering.
How to use the website to effectively manage sales?
· Optimization for mobile devices
According to MOZ Local reports, more than 50% of mobile search queries contain local content. What does it mean? Consumers are trying to find the stores they need from their mobile devices.
· Actively encourage users to visit your store by introducing exclusive offers,
· Increase traffic to your store with targeted marketing campaigns that deliver tailored, personalized content to audiences across different segments,
· Make sure your store is easy to find.
Many consumers decide to make an in-store purchase if they can see the product in person immediately before purchasing. That is why it is important to include user-friendly locations in stores and share useful information on your site, such as the address, directions to nearby stops, and hours of operation.
Tip - To analyse the number of site reviews, submit your site to platforms such as Yelp and Google.
6. Advertising on social networks
In addition to managing views on Google and Yelp, you should consider using advertising tools on platforms like Facebook to increase your retail store reach and implement an action plan to increase sales.
Why is Facebook such a powerful advertising tool for retailers?
· Targeting
Facebook has access to a huge amount of data and can share it with other advertisers. For example, you might focus on an audience of 18 - 32-year-old women living in London with an annual income of £40,000 who are interested in designer clothing.
Once you feel comfortable with your company's focus on Facebook, you can increase the reach of your ads. For example, you can promote your loyalty programs to people who are already fans of your Facebook page.
7. Use Content Marketing
To achieve success on the Internet, you need to actively attract your target audience, and not wait for customers to find you.
Your job is to find potential customers online who would like to learn about your business. To do this, you need to engage them in conversation by taking a proactive approach to content marketing.
What content attracts your audience?
· Standing
· Useful
· Interesting
· Funny
By providing compelling content, you demonstrate the value that your messages bring to the lives of potential customers. This way you can control the retail sales process.
8. At the point of sale
As a retail business owner, you will be looking for ways to attract new customers to your store. However, the clients you already have are your most undervalued resource. Think about how many customers leave your store after buying what they planned to buy? How many of them will share their experience with friends and family? How many of them will return?
By leveraging the capabilities, you already have, you can be sure you are getting maximum value from every customer.
There are four main goals that we should strive to achieve at the point of sale to increase retail sales in your store:
· Increased sales,
· Sales channels,
· Email newsletter,
· Regular customers.
conclusions
We understand the challenges of running a retail store, so we encourage you to take some time to check out our tips. To get started, choose one or two tactics, implement them, and measure your success. Then gradually add the next few ones there. When applied effectively, you can build a much smarter and more profitable business.
The Nexgen IT solution and services suite provides businesses with the digital signage solutions they need to drive in-store engagement, corporate transparency and public relations messaging. Our vibrant displays can be customized to match any brand and can also be branded for localized use across multiple countries. We partner with the world’s leading content providers to provide engaging and accurate content that informs, entertains and motivates customers.
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