Retail marketing strategies have undergone tremendous changes in the last few years. Social media and the rise of influencer marketing have changed the way consumers view products and services, as well as higher costs and lower margins meaning every penny counts. However, a comprehensive retail marketing strategy should involve both traditional and digital marketing methods to cater to a wider range of customers.
As the festive season approaches, it’s important to stay ahead of the curve when it comes to planning your retail marketing campaigns. Your campaigns need to attract attention regardless of the competition; one way to do that is to innovate, strategise and use a wide yet creative range of retail marketing products.
Here are a few ways to shape your retail marketing plan for the New Year!
1. Review and Analyse Past Performance
Reviewing and analysing past marketing campaigns is always a good place to start. Knowing what strategies worked in the past can help you strengthen & adapt those to your future campaigns.
It opens up room for innovation, allowing you to introduce new products and services. Reviews also give you data with crucial insights into Key Performance Indicators (KPIs).
Data is knowledge and what you do with this information will determine the success of your retail marketing campaign.
2. Set Clear and Achievable Marketing Goals
Your retail marketing plan is a blueprint to achieve your goals, whether you’re aiming to reach a wider audience, boost onsite sales or traffic, or promote new products.
Once you’ve decided on your marketing goals and your target audience, it’ll be easier to design a customised strategy using a wide range of retail marketing options. These may include forging brand partnerships, hiring influencers, creating retail displays, hosting promotional events and much more.
Using market research studies can also help you optimise your campaign’s effectiveness and outreach. The idea is to set your goal(s) using measurable parameters and have an achievable time frame & budget in mind.
3. Identify Key Marketing Campaigns and Promotions
Your New Year marketing plans can be more effective by focusing on key campaigns and promotions. By doing this, you’ll streamline your marketing efforts into a strategy you know works and boost your campaign’s overall success rates.
For example, say you’re creating a retail marketing campaign catered to young adults and you plan to host a 3-day outdoor event filled with activities. In this case, you could use eye-catching retail displays to showcase your products and services. You could also consider using visual online platforms like Instagram to launch your campaign some days before the event.
By complementing your promotional event with an online campaign prior, you’ll get greater audience participation online as well as offline.
4. Optimise Digital and Social Media Strategies
Social media has played a huge role in how marketing campaigns are designed, and as the new year approaches, it becomes even more relevant. Most people use social media increasingly around the holidays, which is why it’s the best time to launch new campaigns. This gives your New Year marketing campaign a visible boost and may translate to positive trends in sales.
It is therefore vital to develop effective social media strategies. Additionally, you could consider investing in online influencers, campaigns across multiple social media platforms, and local SEO to enhance brand sentimentality and awareness. With most social media used on mobile, it’s a good idea to consider mobile marketing as part of your New Year marketing strategy.
5. Plan Your Budget and Resources Wisely
No marketing strategy is complete or successful without considering budget allocations. Efficient marketing strategies are those that optimise their resources and achieve goals successfully. Allocating a sizable budget for your retail marketing plan for the New Year doesn’t necessarily mean it would translate to a higher success rate.
Instead, you should focus on core KPIs and combine different marketing channels to increase your chances of meeting your marketing goals. You could consider using automation tools & setting campaign timelines to better organise your campaign. Your retail marketing campaign can also benefit from upcycling older retail campaign materials to save costs. Not only will this be cost-effective, but also add to your brand’s value as eco-friendly.
Choose House of Flags for the Best New Year Marketing Tools - Visual Displays
Now that you know what a successful retail marketing plan looks like, are you ready to create a marketing plan for the new year?
Our high-quality marketing & promotional material can help in creating a memorable experience for your customers.
As industry experts with decades of experience, we believe and take great pride in customising products to suit your every need. From product banners, and a wide variety of creative displays and signage to custom wallpapers, and a dedicated ECO range for environmentally conscious brands, we have something for everyone!
Find out more about our products and consult with one of our in-house experts by getting in touch today!
