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How to help successfully market your retail business

The retail industry is fast-paced and changing daily. This guide can give you tips to help you market your retail business.

3 minute read

Retail is an incredibly competitive industry, and the importance of staying up-to-date with marketing trends can’t be understated. From building a strong social media presence to fully understanding your customer, these strategies could help your retail business stay relevant and continue to grow.

Go wherever the market is

For many retailers, going wherever the market is means selling online. It’s a great way to broaden your distribution channels and build a presence wherever the market is strongest.

Use digital marketing, social media advertising, and direct mail marketing to learn about your customers. Find out how they make their purchasing decisions, how sensitive they are to pricing, and how they discovered your business.

A solid digital presence is critical, so make sure your website is responsive and informative, you could also use tools like search engine advertising and social media to build a strong online profile.

Coordinate your marketing strategy and product orders with topical events that crop up throughout the year. Build a calendar that outlines every opportunity to interact with your customers - like local events, celebrations, sports games and more.

Being social media savvy is also key. Platforms like Facebook and Instagram give businesses the chance to reach their customers in an environment they’re already familiar with. It is good practice to put together a well-informed social media marketing strategy. Write blog posts on popular retail topics and trends, and post photos of new and interesting products on Instagram often.

Explore ways to achieve customer-centricity 

Embrace opportunities to build one-on-one relationships with your customers. This can help you feel more satisfied with the services you’re providing and learn how to provide better products and service. Your customers will appreciate you taking the time to understand and anticipate their needs.

Never underestimate the power of customer feedback. If you get positive feedback – whether through social media, via email, or in person – turn it into testimonials for your website. And if you get negative feedback, take the opportunity to turn a bad customer experience into a good one. Put simple processes in place to make sure any feedback is handled quickly and effectively.

Advertising that is targeted to specific customers may have more success for your business, rather than taking a broad approach. Do some digging to figure out exactly who your ideal customer is, and what they need. Then make sure your products meet those needs and are advertised accordingly.

Make buying from your business a more rewarding experience by using customer relationship management (CRM) marketing software to build a profile of your customers. Encourage people to sign up for your e-newsletter, develop a customer loyalty programme, or reward buyers based on their specific purchases.

The retail industry can be a challenging place to thrive. But get these basics right, and your retail business could be perfectly poised for success.

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This material is for general information purposes only and does not constitute, and is not intended as, personalised financial advice or as a replacement for legal advice. BNZ strongly recommends you seek advice specific to your personal financial or legal situation from a qualified adviser.