How to Succeed in the Brick and Mortar Business World
Although there is a growing tendency to do business online, brick-and-mortar stores are very much alive. In fact, many bloggers, content creators and marketers get their start online and make the move to off-line, as there are just way too many opportunities to not take advantage of.
For the most part, such business models are especially prominent in industries where customers have to try a product in person. A good example of this would be products you’d buy on Amazon, but only after you’ve bought them offline and physically used them previously.
Another great benefit of brick-and-mortar shopping is that employees can help a buyer make the right decision. And should someone have an online marketing background, there are also plenty of exciting ways to upsell, follow-up and remarket to those users again — even if they are walking into your local store for the first time.
However, it’s also important to note that a lot of people prefer the digital model due to its economic feasibility. Running an eCommerce store saves you money on rent and employee salaries. People who have brick-and-mortar retail stores might encounter other operational issues.
Maintaining a profitable brick-and-mortar business is harder than ever. But that doesn’t mean it’s impossible. Here are our 5 tips that will help you succeed in the brick-and-mortar business world.
Prioritize Friendly Customer-First Service
According to data, 66% of buyers are willing to overpay a product if it comes with good customer service. Brick-and-mortar businesses have a major advantage of being able to create a meaningful connection with customers. Unfortunately, a lot of companies do not take advantage of this.
When customers are properly serviced, they are more likely to find the right product. Good salespeople can improve potential clients’ experience and persuade them to buy from the company. Furthermore, companies with quality staff are more likely to retain buyers.
In order to mold good salespeople, you will have to focus on recruitment and training. The process of educating staff will take time and money, but it will pay off soon enough.
Sell (And Give Away) Branded & Promotional Products
Word-of-mouth marketing remains the most powerful promotional method. This is why branding is so important. Not only should a customer buy from you, but they should also help spread the company’s message.
By giving away and selling branded items, you can increase revenues and improve market positioning. Whenever a client sees your personalized pens and pencils, stickers, or other branded items, they will think of your company. Additionally, if you’re manufacturing objects of the same type, you can showcase the product quality.
And as seen on their @PenFactory Twitter profile, this brand has also found a fun and exciting way to market their products through the use of images, animation and video on social media.
While some entrepreneurs perceive this method as unnecessary, it is probably one of the better ways to create loyalty and trust in consumers. Promotional items help with recognition and reduce future marketing expenses.
Combine Digital and Traditional Approach
Although you don’t need to rely on a website to make profits, you can still benefit from digital solutions. One of the best ways to do so is by stimulating website visitors to check your retail store. This is a great way to increase conversion, especially among reluctant buyers.
Even small brick-and-mortar stores and services providers can benefit from Google. Ranking your local store in search engines will make it easier for potential customers to find you. Some of them might not be aware of your existence. By submitting your physical address to various online registers, they will be able to find you on the map.
Of course, everyone can benefit from social media presence. One of the biggest issues with companies is that people cannot relate to them. So, by showcasing your persona on Facebook and Instagram, you can create a nice first impression about your brand.
Create a Rewards Program
In a way, rewards programs are a type of gamification. Although people usually focus on savings and free stuff, most of them will have fun during the process. Creating a rewards program is crucial for customer targeting. If you do it the right way, you can attract an ideal customer persona to your brand. At the same time, you can dissuade any bad leads.
Rewards programs are great for fostering loyalty and increasing customer retention, but also for increasing interaction with the brand. While some businesses see it as a short-term revenue growth method, it provides the best results in the long run.
Having an Active Community Presence
Nowadays, companies are scrutinized more than ever. Consumers expect them to become an integral part of their local communities. Commercial entities should support the residents both financially and by creating social events. In fact, some of the manifestations can even be held at their place of business.
In a way, community presence is more than just brand building. It is a necessary activity that would allow you to compete in the market. People are reluctant to purchase from companies oblivious to social issues, which we’ve seen in the last few years. The great thing about this concept is that it increases retention and builds long-term loyalty. Although you can have a successful business regardless, the local activism will help you scale faster.
And even better, there is also a world of retail blogs out there than can help connecting customers to new businesses in masses. For example, did you know there is a whole community out there focused on Walmart blogs, and they aren’t just about those “People of Walmart” photos you’ve seen and heard about!
The difference between starting a business and running a successful one, is putting in the time and effort to seek out these secret communities and blog networks.
Getting the Most Out of Your Business Efforts
No matter if you are a blogger, online marketer or even a brick and mortar business that focuses on local marketing and physical sales, at the end of the day you need to be seeing a positive ROI for the time, money and efforts you put in.
For this to happen, you need to have the best marketing and business tools in place to help you along the way. It’s also a good idea to try and surround yourself with other business owners and experts that you can bounce ideas off and share feedback with as well.
The good news is, through the use of the internet, it makes the process of connecting with other so much easier and more affordable than ever before — no matter what business market you are in.
And never forget about the massive amount of blogging resources and reference articles that are already out there. Many of which have probably covered in great detail any questions or concerns you might already have.
With all of that being said, be sure to read through each of the recommended tips above and to start implementing them into your business today!