In today’s economy, the financial axe is falling on budgets and marketing is often the first to go. Many small business owners are worried that they can’t keep pace with their competitors. But it needn’t be this way. With a bit of time, energy and imagination, you can boost your retail sales, brand awareness, and customer loyalty without breaking the bank.
Affordable tips and tricks for maximising profits with buzz.
1. Journey into cyberspace
Without a doubt, one of the easiest ways to get free exposure for your retail business is to plug your wares online. If your target market is on the young side, and you’re prepared to proactively engage with them, consider joining social networking websites, writing or commenting on relevant blog posts, and participating in online groups, clubs, or forums. Not only will it allow potential customers to remember you, if you provide them with something valuable it will encourage them to tell their friends about you, too.
2. Create a publicity stunt
One secret to keeping people talking is to proactively generate publicity for your retail business. This can be achieved by thinking about what kind of staged event, such as using real models instead of mannequins in your shop window, will set you apart from your competitors and appeal to the public. Staging a publicity stunt will not only give your customers something to talk about but, with a bit of clever planning, gain you media coverage as well.
3. Be a loveable eccentric
Remember, growing your retail business won’t happen without exposure, so it pays to make yourself known to local media as a reliable insider who can offer an alternative viewpoint on retail stories. Communicating your strong opinions with shocking candour, naked controversy or flamboyant wit can make you a busy journalist’s best friend when they’re time-pressed for a quote, enhancing your business’ reach and increasing brand awareness.
4. Embrace your inner altruist
Another simple way to gain exposure for your business is to flex your social conscience to create customer loyalty, positive publicity, and good things for people who need them most. With your heart firmly in the right place, you can donate your product to local schools, sponsor a fundraising event, donate money to charities, and more. For an extra touch of community credibility, try creating a fundraising event that benefits people in need and gives back to the people who buy from you, too.
5. Run a memorable competition
When it comes to growing your retail business on a shoestring, there's no limit to what you can achieve with competitions. For example, if you’re a fashion entrepreneur, images featuring your products by amateur photographers could be showcased on your website for their chance to win gift vouchers. If you also asked entrants to answer in 25 words or less what they think about your products, you could use their entries as informal market research, and gain free inspiration for future advertising materials from the most creative and witty entries.
Thinking of running a competition? Each state and territory has different requirements in respect to running a competition, such as a permit to run a lottery. Don’t forget to check with your state or territory licensing and gambling authority.
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