As ecommerce shopping trends continue to rise, trade marketers and retailers are tasked with delivering a positive growth to the bottom line or risk falling behind the competition.
Even before the pandemic, brick-and-mortar stores were starting to lose favor as a shopping option for customers. In 2020, Amazon’s shares have increased by 50%, mostly due to the increased demand for shopping online. Today, retail’s balance between in-store and digital is making or breaking the shopper experience according to our 2021 Consumer Trends Report.
One thing is clear because (and in spite of) the pandemic: Shopping in-store will never go out of fashion since it has its own unique advantages.
And this is where retail advertising steps in. It can boost the brick-and-mortar or ecommerce side of your business and increase sales by bridging the gap between offline and online. So, let’s look at how that works.
What is Retail Advertising?
Retail advertising is a marketing strategy that uses store advertising to capture attention and drive shopper engagement towards your brand products. As with any advertising, you’re trying to drive specific actions out of your audience.
Retail advertising can be executed online and offline and is often fit into the retail marketing mix that is made up of the four P’s: Product, Pricing, Placing and Promotion.
This retail marketing strategy is especially efficient when done online since it lets both offline and online shops advertise their line of work. Consumers often research products and their reviews before going to the store to purchase them, so online advertising is very important.
Putting Retail Online Advertising into Practice
With retail advertising leading the way to increased sales, let’s see some real-life strategies that rely on retail online advertising principles.
Buyer’s Journey – Where do your consumers fall in the sales cycle? Your ad must communicate the right message at the right time in the right place. Each stage of the buyer’s journey requires a different strategy and approach, but, when done correctly, it will deliver more ROI thanks to its focus.
Promotions – Promotions are a classic way of increasing demand for your line of work. In retail, leveraging seasonality is still one of the most effective methods around. However, you need to efficiently advertise the discounted product prices and create a sense of urgency to effectively increase your demand and get the consumer’s attention.
Paid Ads – In the same way that physical stores feature end caps or special in-aisle promotions, retail media gives brands the opportunity to boost their visibility on the “digital shelf” with strategically-placed display ads. These are typically shown in conjunction with the buyer’s journey across the home page, category page, search page or product detail page.
Remarketing — Remarketing in Retail is another great tool to keep new customers engaged, but you’ll need the appropriate remarketing tactics for retail in order to thrive. You should always be up to date with current trends, focus on product improvement, offer specific coupons or discounts, revise your ads and keep them updated at all times.
Audience – You need to know our audience very well in order to target them efficiently. Buyer personas in retail are the best way to understand and analyze the common traits of your consumers and what compels them to purchase. These demographics help tailor the message and explain what’s in it for them!
Getting Started with Retail Online Advertising
As always, the right shopper marketing agency can deliver the most ROI for your retail online advertising budget. For more tips and useful information on how to boost your sales, be sure to check out our digital marketing guide.
