The expansion of the retail market on a digital scale has made the industry much more modest and stimulating
By Aditya Bafna
Every business owner once thinks at some point that their brick-and-mortar store requires an online marketing strategy. Many successful companies in the retail business have shown how digital marketing helps improve business performance. The retailers are now conscious of a well-planned and executed digital marketing strategy which can be tremendously rewarding in the future. Also, as online shopping has progressively gained traction, the need for digital marketing in the retail industry is reaching its much-anticipated novel heights.
The technological shift of the consumer’s approach has led to the advancement and has handed great power to the buyers to make the choice sitting on their couch. Today, with an abundance of buying possibilities available, consumers can find and purchase products in ways that are much easier than ever before. The expansion of the retail market on a digital scale has made the industry much more modest and stimulating.
Digital marketing has changed the perspective of modern consumers. Today, almost no business can fully embellish and stay ahead of the competition without a strategic digital marketing practice. A well-planned digital marketing strategy influences the overall performance of retail businesses in many ways. Here are a few key benefits.
- Enhancing Customer experience: Retailers regardless of how big or small they are must invest in digital marketing to ensure a quality user experience for buyers. User experience indicates the whole lot from pre-purchase to the post-purchase interactions that customers have with the brand. It should be pleasant and seamless to maximise convenience and efficiency for the end-user.
- Take advantage of New Opportunities: A strong marketing strategy helps retail businesses set aside from competitors. Technological advancements in the sector act as the driver of the growth of the retail industry currently. It can allow a company to improve upon the customer perception and invest in brand awareness, reputation, image, etc.
- Improves acquisition, conversion, and retention rates: Retailers use digital platforms like omnichannel, SEO, and CRM software to reach clients at the right time, at the right place. This is the right way to increase acquisitions, conversions, and retention. Retail businesses can interact and engage with clients in a modified way to boost purchases.
- Helps overcome competition: Digital marketing specifically allows small and medium-sized retailers to challenge their competition with limited resources and access. They can market their brand at convenience and promote their brand globally. In a way reach consumers across the nation with much ease.
- Right marketing techniques: Digital marketing can be a boon to modern-day retailers. However, before retailers can reap these benefits, they must first implement proper digital marketing tactics.
While making a web-based presence, it’s additionally critical to synchronise your promoting through numerous internet-based channels, and your store in omnichannel advertising is just a type of showcasing where your business can follow every one of your communications with a potential client regardless of the channel they use.
There are an enormous number of opportunities for retailers who decide to enhance their business plans with accurate digital marketing strategies. However, to attain success and flourish among competitive retailers, they must consider maximum usage of digital marketing tools and communications techniques to maximise their reach. To reap the rewards and move in the right direction, It is always a good option to keep themselves updated on how to increase store sales through digital marketing. The truth for any business today is that your current and future clients utilise the web, 70% of smartphone users shop every once in a while. Most of the potential customers are on social media hence with the users it is interesting that most of these users are on more than one social media channel. Whatever channel you decide to promote, social media gives access to thousands of potential customers for retail businesses. Cost-per-click, backlinks, influencer marketing, and blogging – these are just some of the digital marketing practices that continue to flourish. To conclude, while these practices have been around for more than a decade, in the last few years more and more industries, have discovered that they deserve a slice of the digital pie.
The author is MD of Seva Group. Views expressed are personal.
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