Retail has faced some serious challenges over the last few years. Make 2022 the year you shake up your marketing strategies and find effective ways to pull in new customers and re-engage inactive existing customers.
Let’s look at five retail marketing strategies that can help you meet your customer acquisition goals in 2022 and beyond.
In order to effectively strategize, you need to understand who you’re marketing to. Start by consolidating data living in different places and cleaning up your customer database to ensure data is accurate and up-to-date.
Take note of the characteristics that define your customer base as a whole or key customer segments. Those characteristics might include demographics, psychographics, or buying behaviors, for example. Understanding your current customer base lets you know what types of consumers are drawn to your products or services so you can effectively target the right audience in your acquisition campaigns.
You can also look outside of your customer base for useful data on your target audience. For example, you may find “lookalike audiences” that behave like your customers and market to them. With unprecedented levels of consumers trying new brands, you might be able to convince customers shopping with a competitor to jump ship.
Customer marketing program, loyalty program, rewards program —whatever you call it, these programs can be an excellent way to get customers interested in your brand and encourage new customers to become loyal, returning ones. The key is to design a program that actually gets customers excited.
Successful customer loyalty programs can take different shapes and sizes, but they all have something important in common: An effective loyalty program must deliver rewards and shopping incentives that actually motivate customers.
Offer a great promotion upon enrollment to bring in new customers, and then ensure your rewards program continues to keep customers engaged. This is where many brands fall short, which is no doubt part of why the average consumer is enrolled in nearly 17 loyalty programs but is only active in about seven of those. Your brand can stand out by offering a top-tier loyalty program.
If you’ve left direct mail behind to focus solely on digital marketing, you’re not alone, but you should rethink this choice in 2022. Direct mail marketing has too many benefits to leave it out of your marketing strategy.
The difference between direct mail that falls flat and direct mail that actually wins new customers (or re-engages existing customers) is personalization. Personalized direct mail can get someone’s attention in a way that digital channels may not be able to match. A 2021 study found that many consumers see digital advertising as excessive, and increasing amounts of screen time may be adding to the digital advertising fatigue. Postcards in the mail are a welcomed alternative.
To acquire new customers, you can rent a list of mailing recipients who are likely to be interested in your brand. Sending eye-catching, personalized direct mail to these recipients can help you win over some new customers.
Direct mail isn’t the only traditional marketing medium that’s worth your attention. Another overlooked area in the age of digital advertising is a retail store’s point-of-sale (POS) signage.
POS signage has been a fixture of the retail industry for centuries for a reason. It captures customers’ attention when it matters most: at the point of sale. Even if someone wanders into your store for the first time just to browse, you want them to be met with signage that instantly gives them a positive impression of your brand and ultimately nudges them to make a purchase.
Make sure you change out signage regularly so you foster an attractive shopping environment and so you can share timely messages like promotional offers to convert would-be customers.
As a retail business, marketing is critical for your success, but it might not be fully in your wheelhouse. Trust a partner who can do the heavy lifting for you, leveraging their own resources, tools, and expertise, so you can sit back and enjoy the results.
The right partner will identify what’s holding you back and implement the right strategies to reach new customers. If you’re struggling with messy data, a tired customer loyalty program, or anything else that’s hampering your customer acquisition efforts, it’s time to find the right partner who can help you overcome these challenges and enjoy a high ROI on your acquisition efforts.
Baesman is the partner you need for CRM and analytics, loyalty programs, direct mail, and more. Ready to grow your customer base this year? Let’s talk!