With the world moving towards digitalization quickly, the significance of Digital Marketing Skills for Retail has been expanding respectively. In fact, post this pandemic role of DM will be even more crucial in terms of promoting business and taking your services and products to the customer’s doorstep.
When compared with other marketing channels, the digital way is arguably the best way to connect with the audience at large in less time and cost. The need of the hour is that retailers now start thinking to give their small business a new digital platform.
Perhaps the best part is that Digital marketing is the cheapest of them all and offers a significant cost optimization to retailers. The small and medium-sized retailers can reach & target their potential customers with a single touch on a mobile screen.
Popular digital media channels are search engines, email, social media, and different blog sites that assist businesses in interacting with their customers on regular basis.
Here are the top 5 Digital Marketing Skills for Retail that retailers & professionals must know and need to develop to stay in demand and up the head in the game.
SEO – Search engine optimization
In Digital Marketing Skills for Retail, the most important aspect is SEO. “SEO” stands for Search Engine Optimization. Once you take your business on the digital platform, it is essential for a business to attract customer traffic. The process of bringing customers to get website in large from different channels is called search engine optimization
Now, the question arises here …how do you do it?
Basically there are two types of plates of platforms on which you do SEO
On-Page SEO – the key focus area for this type of SEO is the data management and enhancement, that occurs on the current page that the user is seeing.
Off-Page SEO – the key focus of this type of SEO is on pages other than your websites. It is concerned with the ads, social media push, or backlinks creation.
Key factors to watch for while doing SEO
The relevance of data to the Keyword or service/Product
Frequency and degree of per day activities on site
Keyword search and keyword targeting- Best Practice
Why you should care about SEO?
Let’s imagine you have a jewelry store and you wanted to attract HNI clients within your catchment limit. So now is every customer who is looking out to buy something goes to Google and search out the results as mentioned in the following picture
I hope you understand why it is important for your business to come on top of the search results whenever customers are searching for that particular category that you deal with.
You need to understand who your potential customers are and what possible keywords they’re likely to search for. From there you need to understand the following:
What types of products are they interested in?
What solution do they look for?
What type of preferred language do they use to describe the products or services that they are looking for?
Who else are they buying products from in the market?
What & how is your competition approaching your target customer?
Social Media Marketing
In today’s time where Digital Marketing Skills for Retail have become essential for retailers, Social media is not an alien term & many people define social media as apps on their smartphone or tablet, but the truth is, this communication tool is a virtual world where presence became mandatory.
Similarly, in straightforward words, Social media advertising (SMM) is the utilization of online networking stages to associate with your crowd or Target Customers (TG) to fabricate your image, increment deals, and drive store traffic/Walk-ins. This includes posting great content on your various social media profiles, listening to and engaging with your followers, measuring your search results, and executing social media promo advertisements.
Top 9 Advantages of Social Media Marketing for Small Retail Businesses
Increased Brand Awareness
Direct Access to Customers
Higher Conversion Rates
Better Customer Satisfaction
Improved Brand Loyalty
Gain Marketplace Insights
The idea of promoting your products, often through an associate network, giving a commission and sharing profits if people/ associates end up selling your product or services to their customers.
It’s based on revenue sharing. For affiliate marketers in the majority, product choice for promotion is the key and they put their energies and time where they feel has a value and an opportunity to earn an income from it as an affiliate marketer.
The Retailer – Merchant or Product developer
The affiliate – The associate as mentioned above who actually make sales happen in his/her network
The customer – The people who buy product.
Advantages of Affiliate Marketing
- Add on sales other than the target catchment
- Increase in customer base
- Value-based sales optimization – Margin saving
- Increase in profit as sales will increase
Content Marketing lets you show a side of your business your customers wouldn’t usually realize. You’re hitting your views and thoughts on the line and expecting shoppers to respond.
Content Marketing makes you understand the hidden potential of your business. Presently, it is the ideal opportunity for small retailers to understand that and take the business to the next level with the assistance, where they can promote the unseen advantages, for example, any unique selling proposition and personal touch. A particular item that is accessible just at your shop and you may be selling it for long with complete dominance, so the time has come to take it to the bigger audience.
Personalization– gives you an opportunity to make a personal connection with your customer and made them feel delighted and special. Think of your customers as People with emotion, just like you.
Transparency, openness, and trust – Customer feels really motivated and attached with the place of retail which is transparent and open so they can trust with the data to share with you. Offer value to your customers and educate them regularly so they keep coming back.
Have best in class product & service assortments – This may seem like an obvious statement, but quality and relevance trump quantity.
Have visual content in shops/stores – Pictures & Visual content is a very powerful tool when comes to content marketing, it’s immediately connecting to your customer with your retail shop and its purpose.
let’s look at the five traits of Content Marketing before to start of:
Tell influential stories.
Be truthful and open.
Personalize services and assistance where likely.
Quality over quantity — but if you can have both, then do.
Deploy more visual content to create a soothing environment
Email Marketing – Best value practice for small retailers
Email marketing is a practice of sending commercial messages directly to the consumer’s mail inbox. It is one of the age-old and very effective methods of connecting with your customers which comes handy with extremely low cost to operate. Mainly helpful in generating B2B Leads but nowadays even small retailers who are into B2C businesses are using the email service as one of the prominent channels to promote their products and services.
Top benefits of Email Marketing
Low cost medium
You can connect and reach to wider audience at once
One single message to all – uniform approach
Less time consuming
Easy result tracking measuring
Formal and professional among all digital medium
Best 6 – email list management services and software
Mailchimp – (Recommended)
Answer following questions before you go ahead
How much is your list worth?
How to segment your list?
How to understand your email Analytics?
Using auto responder
How’s to write a great email letter script?
How to pitch your product?
Pl remember you are a guest in their box, be professional and keep the content to the point without crossing word limits
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Complete Guide on Return on Investment – Exclusive Store (EBO)
Why ROI calculation in retail?
- Breakeven sales calculation
- Calculation of Depreciation
- Calculation of interest
- EBITDA calculation
- Understanding “Capex and Opex”
“Return on investment in Retail operation business” is a calculation to know about your income out of the capital expenditure being made in the business you are doing or you are looking forward to doing ahead.
Here you will get a complete ready useable ROI sheet along with a Dashboard for meeting & Presentation.
Dynamic Retail Math Kit For Retail Success
Dynamic Retail Math Kit Includes:
This downloadable product is a complete guide to provide you the handy and applicable knowledge on retail math skill sets, which is one of the most important know-how in the retail industry and in-demand skill set.
- E-BOOK (PDF)
- RETAIL MATH EXCEL SHEET (WITH EXPLANATION)
- INVENTORY ANALYSIS SHEET (EXCEL)
- SALES ANALYSIS SHEET (EXCEL)
- HOW TO IMPROVE RETAIL MATH SKILL SET?
- ROI SHEET – (EXCEL)