The world of retail has changed dramatically over the last few decades as technology has altered the landscape and online shopping has exploded.  Smaller retailers have had to adjust both their business plan and marketing strategy to keep up with the times.  As retail continues to evolve, here are few ways to ensure your business doesn’t get left behind.

In-Store Experience

As the likes of Amazon continue to push other large retailers out of business smaller retail shops stand to benefit from an increase in foot traffic.  Believe it or not, not everyone likes to make every purchase online.  Creating an immersive and memorable in-store experience can help your store stand out and develop a loyal customer base.

Ecommerce Website

While competing with Amazon and Walmart for online sales may not be feasible, offering unique product lines and one of a kind items will allow you to garner your share of online sales.  Promotion also plays a large part in the success of your eCommerce site.  Leveraging content and social media marketing while attributing some marketing dollars to video will help build awareness around your online store.

Customer Loyalty Program

Customer loyalty programs can get a bit messy so structuring your rewards offers properly to ensure you remain profitable is an important first step.  A successful loyalty program is one that personalizes its rewards to fit individual customers.  Your benefits should scale along with the number of purchases being made and the amount of money being spent. 

Retail Referral Program

Referral programs should be reserved for your most loyal customers but can serve as a great way to increase word of mouth advertising.  Offering a fixed rate reward or a percentage of resulting sales to those that refer your business to others can help you significantly increase revenue.  It’s also a great way to build brand awareness and improve customer loyalty.

Influencer Marketing

“While big brands hire agencies and pay celebrities, influencer marketing at a smaller, more focused level is a perfect fit for small businesses. By targeting specific groups, communities, and customers who are more likely to be interested in your products or services, you’re likely to achieve better results than traditional advertising.”

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