When it comes to marketing, most people think of connecting to new customers. While that is an important part of any company strategy, market research studies are showing that engaging with your current customer base is a much more efficient way to facilitate the financial growth of your business. In fact, according to the Chartered Institute of Marketing, customer acquisition has a cost of 4 to 10 times higher than retention.
Now that you have the knowledge, what is the best way to turn it into something actionable? The best option would be to devise a detailed marketing strategy with someone who has an understanding of both your business and your customer base. But generally speaking, in-store advertising is an extremely effective place to start.
The Benefits of In-Store Advertising
POPAI published an extremely detailed shopper engagement study that interviewed 2,991 random adult shoppers across four broad geographic census regions both before and after their shopping trip. The findings of this study were that customers are impulsive at a high rate and can be swayed by in-store advertising. Here is some of the data:
- 82% of consumer buying decisions are made in-store.
- 62% of shoppers make impulse purchases while shopping.
- And 16% of these impulse purchases are driven by in-store ads
Why Is in-store advertising so effective?
In-store advertising is effective because most customers have decided that they were open to making a purchase before even walking into the store. At that point, all the in-store advertising has to do is help them figure out what they want to buy. While that sounds simple enough, people vary widely and are highly desensitized to marketing in general. So where do you get started?
Getting Started with In-Store Advertising
Now that you know the many benefits of in-store advertising, it’s time to look at tips and potential strategies of a successful campaign. We’ll get you started down below:
Make Messaging Relevant
Knowing your customer base is crucial to develop messaging that speaks directly to them. The most successful ads aren’t always the most visually striking or have some crazy offer. They are the advertisements that make a connection with the consumer.
Paint a Picture with Your Ads
When setting up in-store displays, pay attention to the routes most people take and set up advertisements along that path. Use this opportunity to paint a bigger picture than you could with any single ad.
How can you create a cohesive and exciting experience for shoppers? By creating a theme for your advertising. Themes aren’t just for parties or holidays. They can instill a sense of familiarity and comfort through your advertising. Or they can be used strategically to send messaging to the customers.
Make sure to put content in areas that are the most traffic heavy or where customers spend the most time idle. This is the quickest way to ensure that your advertisements are not only seen, but seen by the people most likely to take the time to read them.
Keep it Simple
The attention-span for unsolicited content is ever shrinking. Keep the text as short as you can while still getting the point across.
After studying the psychology of the shopper and the efficiency of customer retention, In-store advertising should be the cornerstone of any retailer’s marketing strategy. From signs to flags to banners of all sizes, we can help. Just send us an email to get started!