The Influence of In-Store Marketing
Are TV and Radio Ads Your Only Option? Any marketing team has researched intensively through industry ROI data, discussed possible marketing strategies over extended meetings, and developed extensive product development strategies. These are all designed to answer those crucial marketing decisions regarding marketing budget allocations. How do I increase my marketing ROI? Are expensive TV and radio broadcasts the best way to go? Should I look into developing my product’s in-store marketing capabilities? How do I raise customer awareness of my products?
Making informed decisions regarding your industry’s ROI is not an easy task, there simply isn’t a 100% informed way of knowing what effects a customer’s decision to buy. There are definite “trends”, and clear ways of raising product awareness in the public consciousness by blasting brand imagery across the scope of human consciousness, but these methods are incredibly expensive and inefficient.
Large conglomerates have the ability to launch incredible marketing campaigns, intended to raise brand awareness on a global level. The ROI however, is not efficient in the short term and therefore this option is not viable for small and medium sized companies. Companies of this size just cannot compete with corporate monsters like Pepsi or Walmart.
Interestingly enough, this does not have to be a problem. Though the effectiveness of in-store marketing has always been known at least to some extent, recent data has hinted at much greater effectiveness than previously realized. Research companies like POPAI, B&T and others, have shown that an average of 70% of purchase decisions are made by a customer while walking around in the store!
An incredibly power statistic, and one that makes absolute sense. Any customer can sit at home and watch a visually powerful TV ad, but then not be in a position to buy for hours, and sometimes much longer. Which begs the questions: why should a company spend huge amounts of money on TV or radio ads to increase brand awareness, when most of these customers are just not ready to buy at all? There are better methods of marketing.
There is one important factor in any marketing campaign, and that is the determining factor of recency. How soon after a potential customer saw your advertisement or marketing display were they in a position to make a purchase?
So the most effective way to go is in-store marketing, or POP displays. They represent the only marketing medium that is in place when customer, product, and money all converge at the same time and place. That is the time to worry about the level of product imagery and presentation.
Though current “clean-store” policies need to be taken into account, retailers are always glad to receive POP displays from their product vendors. It gives them the ability to present to their shoppers a visually stimulating shopping experience. They are always looking for product presentation that is well-designed and crafted to make shopping for their customers a simpler and more enjoyable experience.
Is all of this possible? Of course it is. Be sure to have the right resources to make that educated decision, hire the right marketing personnel, team up with a well-informed manufacturing company, create product display designs that are visually appealing and whose message is best crafted to present product benefits. You’ll be well on your way to increasing company profits
Posted: August 19th, 2008 under Marketing.
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