Tips to Increase your In-Store Marketing Profits: We've all poured over the available marketing data, held the long meetings, brainstormed over product development strategies; all to answer the age old questions regarding marketing budget. Which advertising medium has the highest conversion to sales? Should I spend massive amounts of money on TV and radio broadcasts? What about "in-store" displays? What will customers pay more attention to? What will give my company the greatest return on investment?
Calculating marketing ROI is not easy; there isn't a solid way of gauging what effects customer buying decisions. There are tendencies, and obvious ways of improving product awareness, but the only sure method is to employ an immense marketing budget that will raise product sales through a steady increase of product identity across the range of public perception.
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.
This does not have to hinder a company's ability to market however. Although the influence of "in-store" marketing is understood at least to some extent, newer data has suggested an even greater influence than previously recognized. Research companies like the The Global Association at Retail (POPAI) and B & T, have shown that 70% of decisions to purchase a product were made by the customer while in the store!
This statistic makes perfect sense, and has far-reaching consequences. Let's quickly discuss what this entails; a customer can be at home and watch a visually persuasive TV commercial, but then not be in any kind of position to make a purchase based on that ad for hours, or even days. So why would smaller to medium-sized companies ever want to spend huge amounts of company funds on TV or radio ads, when most customers just aren't in a position to buy anyways? There's got to be a better method.
And these methods are centered on one important factor. The true determining factor in the decision to purchase a product based on your advertising, is recency. Meaning, how soon after the customer saw your advertising and marketing material was the client or customer in a position to buy?
Consequently, the most ROI-efficient marketing method small and medium sized companies can employ is in-store marketing, or the use of "Point of Purchase" displays. These displays represent the only marketing medium available at the time and place when customer, the money to buy, and the product all come together. Then is the time to worry about product imagery and communication of product benefits.
Retailers are always glad to receive POP displays from their product vendors. Though "clean-store" policies are an issue, they do not have to be a hindrance. A well-crafted and carefully designed display creates a much more appealing environment for their shoppers to peruse, and retailers are always looking to improve in-store appeal for their customers. Just be sure to meet the needs of your retailer in your product displays.
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
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Before you look for POP display manufacturers, be sure you research this significant in-store marketing information.
