So your retail store is selling quite well. You might even have your own line of products. All is going well, for the most part. That is until you hit that dry month. Nobody knows why. Your customers could be losing interest. It could be a retail management error. Some months bring almost no revenue. One month turns into several. At that point, you have a trail of uncertainty to worry about.
Whether you’re selling well or struggling to stay afloat, promotional events are the kicker your numbers need. Not only can special retail events bring in new customers, but they also retain current ones. When done right, promotional events drive customers borderline crazy about your store. Promotions aren’t just about the holidays either. You can create your own unique events that appeal to your ideal customer.
Choosing Your Event
Appealing to your target audience is key. What draws them in? What are their interests? Some customers simply want to save money. In that case, a markdown event works better than a special customer promotion. Are your customers unique(i.e., hobbyists, musicians, etc.)? Celebrate them! The bottom line is: people love to celebrate—especially themselves.
You can:
- Partner up with a charity and promise to donate part of their purchase. People love to help!
- Create your own special holiday! Remember to celebrate your customers. National Mom and Pop Business Owners' Day is a prime example.
- Create a category-based retail event—example: New Mother's Day (discount all baby products for new moms).
Choosing an event comes down to knowing your target audience and a dash of creativity.
Working Around Holidays
The promotional calendar is worth a peek when planning your own event. Though, you don’t have to let holidays run your schedule! Mixing and matching a holiday event with your own unique promotion has potential. Generally, you want to space retail events out. Too many events crunched together dampens the effectiveness.
Do you know what that means? Plan plan plan! A few months is ideal for planning your promotions. This is where stellar retail management comes to play. Create a calendar that includes national holidays. When you have your events planned out, then you can promote.
Promoting Your Events
There’s no use having an awesome event if nobody knows it exists. This is where your marketing strategy comes into play. Let your customers know through your social media channels. Post promotional posters. Get the word out there! Orchestrate beautifully, and customers will flock to your store like a herd of geese. Make sure to record your results.
You’ll have plenty of retail events, so write down what works! Some marketing ideas are a hit—some flop. Creating a strategy always comes full circle to your customer’s needs. What appeals to them? What makes them want to come in? Give them a reason. Once you know, you can streamline your retail management process.
Well-timed promotional events keep customers excited and ultimately loyal. Soon enough, word gets out. No more dry months! Remember, the idea is to generate excitement for your store. How you do that is up to you.
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