Advertising for a Retail Store

Once the long awaited store is open, it is just the beginning of a whole line of activities to gain recognition. It is vital to make people aware of its existence. Advertisement plays a critical role in attracting customers to your store. It will create an image for your store and establish an identity for you in the market.

Use all available options that you find feasible to advertise your store. It could be:

Image

Print: Newspaper, magazines, catalogues and journals come under print advertisement. This source reaches a large number of people and is a very effective mode of advertisement.

Television: Television reaches a wide audience. This mode of advertisement has the advantage of picture and sound, which allows you to illustrate information creatively.

Radio: This is an excellent source of advertisement. Radio reaches a large number of people and is comparatively more economical than other sources.

Social: Social media as a source is the most famous one now. Open a website where people can learn more about your store. Facebook, twitter, blogging, LinkedIn and other social networking sites will encourage communication with customers.

Word of Mouth: This is one of the oldest forms of advertisement and is still effective. Mouth-to-Mouth is the most sought out way of advertising for small retailers.

There are two main objectives for advertisement. One is to attract customers and the other is to make them aware about you. So be clear and don’t confuse your customers. Besides that, be creative and come up with innovative ideas to keep the customers coming. As you progress, retail marketing plans, sales promotion ideas, branding and advertising resources, media buys and sales events will benefit your retail store to be in the public eye.

Click here to know more about Welingkar’s Hybrid Learning PGDM Management Programs.

Handling Retail Customer Service

For a business to boom, the customer is the ultimate for success. Little wonder then, the Customer is considered to be King!

Advertising is an integral part used to attract customers. Once the customer has entered the store, it is good customer service that will keep them in. Here are some pointers for good customer service.         

Communication: This is the most important factor and determines if the customer will return or not.. Greeting a customer properly is a good start -everybody likes to feel welcomed. Be friendly and start a conversation. ‘Can I help you’ is an outdated line, start by introducing yourself.

Image

Product Knowledge: Make sure all your employees have a thorough knowledge about the product they are selling. If the customer finds the information lacking in any way, they will lose confidence.

Establish Customer’s requirement: Most of the times people enter a retail store with vague ideas about their purchase. Ask questions and help them establish their requirements.

Recommendation: Once customer’s requirements are established, make recommendations. Make sure the suggestions are related to the main product that they are purchasing.

Closing sale: The customer should not feel pressurized in closing the sale. Give them time to make a decision and proceed accordingly.

After-sale: Provide after sale service like free home delivery, exchange policy and any other benefit relevant to the retail business. After-sale service is an excellent way of increasing the chances of the customer returning.

And above all, don’t be afraid to experiment. Observe customers and employees both, to come up with the best services that suit your retail business. 

Click here to know more about Welingkar’s Hybrid Learning PGDM Management Programs.

Eight Important Factors to Run a Retail Store

The Retail sector in India has seen a dramatic upsurge in the past decade. Growing purchasing power of consumers has encouraged the retail business to flourish. From adopting new marketing strategies to diversifying into businesses, companies have tried all gimmicks to impress the customer.

Retail management, therefore, requires a full awareness of formalities, brands, marketing strategies and retail philosophies behind winning the customer.
Here is a check list which will help while venturing in the Retail Business.

Business Plan: A Business Plan is a road map for your business. It should have the name, amount of capital invested, polices and goals for the business.

Knowledge: be alert to the vagaries of market trends.

Legality: Be aware about laws regarding permit, license, leases, taxes, ownership and other formalities.

Location: For a retail store to run successfully, location plays a key role. Strategically placing the store in the area it is required is very important.

Employees: Hire according to your requirements. Keeping the employee motivated is equally important to run business.

Inventory: Categorizing products and price will ensure a smooth run of the business. A properly maintained inventory will help in boosting sales.

Display: Use store space wisely. Creative Display of the products will attract customers.

Advertising: Advertisement of the store is an absolute necessity to build awareness.

Everything said and done, running a successful retail business requires skills, strategy and a healthy dose of luck.