Welcome to “Lightning Round Retail Marketing Tips,” our new blog series aimed at providing quick, impactful retail marketing tips for today’s busy brand and retail marketing professionals.
This week’s topic: providing digital marketing impact on retailer revenue.
The Million Dollar Question
What is your brand doing to provide digital marketing impact on in-store revenue for your retail partners? It’s the question that all brands are now forced to grapple with, and, chances are, your retailers are already asking.
While linking digital marketing to sales is no easy task, there are steps you can take to begin paving the way to providing your retailers with proven results. Get started with the five tips below, and see how your brand stacks up.
1. Help your retailers understand what can be measured.
Capabilities for what can be measured when it comes to digital marketing and its impact on in-store retail sales may be limited at this time, but that doesn’t mean you or your retailers should avoid looking at the data that is available.
When your next campaign comes to a close, have your retailers look at the measurable items available: audience impressions, cost-per-click, consumer engagement on organic vs. paid content, and so on. Just don’t let them get hung up when they can’t directly tie digital marketing to sales. It’s a challenge that we all face.
2. What are the industry benchmarks?
As you start collecting these metrics, explore industry benchmarks and compare them to the performance of your digital retail marketing campaigns. See how you measure up and make improvements where and when you can.
You have to work with an understanding of how other companies in your industry are performing. Otherwise, you won’t truly be able to understand how you’re performing.
3. Gather sales data from your retailers when you can.
Gathering sales data from your retail partners can prove to be challenging, particularly when it comes to doing so in an accurate and timely manner. This doesn’t mean that you should avoid it altogether.
When you can, take the time to gather in-store sales data for products launched around specific local advertising campaigns.
You can also collect anecdotal evidence from your retailers via surveys and other communications to gain valuable insights into in-store traffic, specific product sales, and customer engagement on big calls-to-action.
4. Do some A/B testing.
Digital marketing is not a concrete science. It’s constantly evolving along with today’s modern consumers.
Play around with campaign copy, imagery, and media mix, and see what works best for your brand and the retailers marketing your products.
5. Work closely with your sales reps.
If you want your digital retail marketing campaigns to make true in-store sales impact, you’ll have to work closely with your team of sales reps.
Sales reps are the glue that connect a brand to its local retailers, working with a face-to-face, in-person camaraderie that helps to validate brand programs and initiatives.
Leverage these relationships so that your sales reps can really hit home the value of your campaigns and their effect on retailer revenue. If the reps are on board and supportive, it makes all the difference.
Have your own tips for providing digital marketing impact on retail sales? Share them with us on Twitter @Promoboxx!