For any retailer, high sales margins mean more cash-flow. A clear-cut, competitive marketing strategy becomes a primary goal of many appliance retailers, whether they operate online or from a brick-n-mortar establishment. A good marketer is one who employs different marketing techniques. Different marketing strategies offer marketers different options to counter the competition. An effective strategy is tailoring your plan to suit each of your clients’ needs to build long-lasting business relationships. Different studies have been conducted to determine consumer behavior as influenced by psychological factors. A consumer’s brain tends to follow certain mental traps laid by strategic marketers to boost sales. Read on to learn more about the inner workings of consumer psychology and use them to expand your sales.
Create a Sense of Confusion
Reports indicate that when shoppers get distracted, they lose concentration and let their guard down on the price factor. To use this to your advantage, set up vocal ad pop-ups, digital images and signage, or by a simple, “Can I help you?” gesture. After such a distraction, when the shopper turns to the product, they tend to buy on an impulse. Most supermarkets and appliance stores use counter-intuitive strategies to cause a bit of distraction.
Loyalty Programs and Incentives
Loyalty programs are an effective marketing strategy used by many retailers. It helps them to understand their clients’ preferences, raises their loyalty level, and makes them feel part of your brand. Try offering gift or reward cards to your customers. A 2006 study by Urminsky, Zheng, and Kivets found out that reward cards compelled consumers to spend a lot of time in stores and chatted with employees with a smile on their faces.
Another easy way to improve your sales is by bundling up related appliances. One bunch may contain refrigerators, chest freezers, stoves, washers and some grills queens ny to give the optimum consumer flexibility. Having packaged deals allows a retailer to offer huge discounts with high sales. The strategy works best with commercial markets when consumers buy appliances in large volumes for installation in a new residential project.
Give potential shoppers a live demonstration of how the appliance works because mere product descriptions don’t give the entire picture. Live demonstrations open up communication channels where a consumer can expend their queries in a group. Offer beverages and snacks to attract kids and other family members as they can influence a purchase.
In today’s world, your retail business needs to be digitally visible to your target audience. Create accounts on Facebook, Instagram, Twitter, and other social media sites. Ensure you regularly update and upload pictures. Combining that with posts on sales days or discounts keeps your audience aware of your brand’s activities. Maintain an updated web store that captures details of every appliance in-stock. Advanced tools like a lead-capture feature are critical when you need to send emails or other useful information to a client after signing off. Knowing how your consumers think is useful in formulating a marketing plan. Make sure you match the best approach for your industry and target market. Besides, employing a mix of two or more of these tips can prove tremendously useful.