Many retail owners believe that when doing marketing efforts, you only aim to help a prospective buyer understand solutions to a problem, evaluate product or service options, and decide to make a purchase.
There have been lots of methods used which vary between initially buying a consumer’s attention or earning it as part of a strategy to build a larger brand audience. But the goals of each are the same: educate, inform, and persuade buyers to make a purchase.
However, a secret that is usually not known to many is the ‘Point of purchase marketing,’ which is a breath of fresh air in marketing. This strategy attempts to market to shoppers who are already in the store and ready to make a purchase and it provides a last-minute way for retailers to influence the details of that decision. Through this, you are trying to boost and increase your revenues by convincing your buyers to shop for more.
So, the question is where is it best to Deploy Your Point of Purchase Marketing Strategy?
Actually, placing even just small, inexpensive, and relevant items on the counter can boost sales. So can using displays of these items to create an area where customers can queue while waiting to check out.
Many stores are using physical displays to create a path for customers to wind down on their way to check out. They place small items that cost significantly less than the rest of the store’s inventory here.
This point of purchase marketing technique is known to work because customers have already made a decision to buy something, making them more likely to buy an additional product if it does not significantly add to the total price of their purchase. Also, “Add-on” type items that are highly relevant to your customers can trigger impulsive purchases or serve as reminders for customers.
You can turn a long check-out line and wait time in shopping into an extended shopping experience for your customers. Your displays can keep them engaged and interested as they wait, which maintains their decision to buy a product and reduces the chances they’ll walk out empty-handed simply because they saw a long line at the register.
The job of point of purchase marketing includes your cash register and checkout counter, but you’re not limited to just these areas in your store. Because you can get creative with strategies in places like various places throughout your sales floor, directly on specific displays or sections of products, and the customer’s smartphones that they use as they browse.
Now, there are several options to see how you can go beyond the impulse buy at the checkout counter and use point of purchase marketing throughout your store to increase your sales. Here are some:
Creating your own inventory “Pop-Up Shop”
Pop-up shops usually allow other brands to temporarily set up within another retailer’s store. But you can use this technique to showcase a particular line of products or segment of your own inventory.
The store’s customers probably didn’t come into the store specifically to buy barware. But the pop-up-inspired display creates a sense of fun and novelty, which can inspire customers to make additional purchasing decisions once in the space. So, try highlighting a new brand or creating a seasonal-inspired shop will increase the chance of sales of a limited-time item. Not only will you be marketing right in store, but with the seasonal strategy you’ll create a sense of urgency around the fact that buyers need to make a purchase decision now before the product is gone.
Optimizing Point of Purchase Areas
Taking advantage of all the opportunities and optimizing your entire retail space for point of purchase marketing increases sales while feeling like a benefit for shoppers, through added value, information, and deals.
Point of purchase marketing can span your entire store, from useful displays that influence shoppers to indulge in unique or novelty items to stations where they can sample the products or at least test them out via a demo.
Now, you are far more than ready to pop up your sales with a brighter idea and knowledge about Point of Purchase.