How to Craft Killer In-Store Promotions to Drive Retail Sales
You’ve finally nabbed some key retail accounts, and you’re looking to make the relationship strong. If you’re willing to put in the effort, it could be time for a killer in-store promotion. These marketing techniques can drive sales that will positively impact you and your retailers, but only if done right. Good promotions cost time and money, but is absolutely essential for maintaining your space on the shelf and keeping your buyers and category managers happy.
Promotions that sell
Sure, it can be fun to create a promotion that looks great or gets attention, but your goal is to drive sales. We love this Zingerman’s article for its wealth of tips for driving big sales from promotional efforts. Here are some of our favorites:
- Involve staff. Your product needs champions in the store, and converting the staff into brand disciples can make all the difference when shoppers are deciding whether to take the plunge.
- Set targets. Give your retailers and your team a number to work towards, one that will help keep you focused on your ultimate goal. Though promotions have other value, like brand exposure and positive press, sales targets are the easiest to track and measure and the most easily quantified.
This piece, from The Balance, is full of specific but super valuable tips for creating successful in-store promotions. Getting your product out of its normal place in the store, marketing 2-for-1 deals rather than lowering prices, and partnering with other brands are all great ways to increase the success of your promotion. Driving sales is a two-step effort: introducing your product to new customers as well as encouraging existing customers to buy more. Aim for both strategies and you’ll be hitting your sales targets in no time.
Though an in-store promotion takes careful planning and sometimes cash input, it’s always worth it to invest in your relationship with retailers and increase your consumer reach. Don’t lose crucial accounts just because you didn’t want to put in the effort!