Marketing your retail store

You have done it. You have taken the plunge to be your own boss and achieving financial freedom. The retail business for which you are so passionate about can make your "work" seem like play and transform you make a living. If you have made it this far, the hard work is over. The fact that you have reached the point of leasing your space, buying your products, and staffing your employees, says alot about your drive and determination. Its time to take all your hard work and make your dream a reality through effective marketing.

The key in marketing is conveying your value. Marketing by definition is the actions that promote your business and make prospective customers and shoppers come to you. Think about your business for a minute. Think about your closest competitor. What differentiates your store from your competitor? Is it your prices? Is it your helpful or knowledgeable staff? Is it your product assortment (i.e. what products you carry)? Is it your business policies as returns and guarantees?

Make a list of the core areas for which you differentiate. After that, write down how these areas of differentiation benefit your customers. These are the key areas that you want to emphasize within your marketing. These points make up what is called your “value proposition” and will be the selling points for your retail store. Make sure you emphasize these areas within your marketing materials and in your advertising campaigns.

Everyone knows about the standard marketing methods; yellow pages, print advertising, billboards, and radio spots. While these methods are very effective, this article is going to discuss new alternative methods for which you can create more demand for what you have to sell.

The primary advertising medium to consider in constructing your marketing plan is the internet. In today's world, consumers are using the internet to find every type of business that may meet their needs. No matter if you are a hair salon or a hockey supply store, it is crucial that you consider the impact for which the internet can bring to not only your store traffic, but also the overall sales for which that traffic will generate. The primary advantages to web based marketing is that the marketing is more targeted the traditional methods.

A HUGE way to promote your business is through search marketing. If you aren’t familiar with search marketing, it is the process of advertising your company through the major search engines like Google and Yahoo. By listing your company for the search terms that your customers would be interested in, your company website will receive great targeted traffic to advertise the business.

For example, let’s say you are a fishing shop located in the suburbs of Chicago, Illinois. After your company website is up and running, you want to make sure that your URL (i.e. the address www.yourstore.com) pops up when consumers search for fishing related terms that are targeted to your geographic location.

To do this effectively, one has to do some brainstorming. Think of every combination of keywords that correspond with your business. In this case, the owner or webmaster would want to use terms like Chicago fishing, Illinois Fishing, Chicago tackle store, Illinois fishing store etc. Think of every possible term and do worry about having too many terms – that’s the key to doing well!

Your next step is to register with Google, Yahoo, and MSN for their paid search programs. Paid search means that you will pay for every visitor that comes to your site, typically in a bid type fashion. Within the management platforms within Google etc, you can control your maximum amount that you want to bid for a unique keyword. Don’t feel that you have to be the number one bidder for all of your keywords as the top 6 spots typically gets qualified traffic. Make sure that you point specific pages to the search terms that are requested. If someone searches for “Fishing Rods Store Chicago”, be sure to take your web visitor to the webpage that best speaks to “fishing rods”.

By defining your value proposition and marketing your store in traditional and non-traditional channels, your business will receive new customers that are looking to buy your products and services. If you monitor your marketing efforts and look to improve your response numbers as you progress, your business will continue to grow and give you profit for the years to come.

Eric Weinstein is Vice President at www.specialtystoreservices.com”>Specialty Store Services - the leading source of retail store supplies

Article Source: http://www.marketingarticlelibrary.com

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