Apr
Cost Effective Store Advertising
In Store Advertising.
Store advertising is one of the methods in which many retail outlets increase their sales and also try to make money on the investment. The cost effectiveness of the advertising will actually depend on the return on the investment that has been made in the first place. A particular store may have spent about $1000 on an advertisement for a particular product. If the company has a dramatic or a gradual increase in the sales of the particular product, then the advertisement can be said to be effective. The cost effectiveness and the return on the investment (ROI) made for the store advertising will actually be calculated based on the total increase in the returns made by the store in the sale of the particular product.
The various factors increasing the store advertising profits
1. ROI for advertising: The return of investment made on the advertising is one of the very important facts that need to be tracked by any advertiser. If there is a positive return on the investment that has been made on the initial outlay costs, then the company or the store should continue to put out similar advertisements. On the other hand, there are other companies that may only be able to make a loss and there may not be a positive return on the investment made. If this is the case, then it should be understood that there needs to be a change in the advertising method.
2. Benefits of store advertising: There are several benefits of advertising in a store. There could already be a regular clientele in the store and these people who come to the store may be buying certain products. The advertising that is done by the store may prompt the clients to try out newer products. This could also help to increase the sales of the store. This is the best benefit of the advertisements. If the store is involved in outdoor advertising, then it may help to bring in more passing trade.
3. Methods of local store advertising and their benefits: There are different methods in which the local stores will be able to advertise. The store advertising can be through digital posters that are put up inside the store at various points, like point of sale (POS). Other than this, the store can also resort to outdoor advertising. There could also include interactive touch screens at various locations inside the store. This will help the clients to identify the various products that they are seeking. Other than this, the clients of the store will also be able to search for the best deals on the various products that are on offer in the store.
4. In-store advertising and outdoor advertising: The indoor as well as the outdoor store advertising have their own benefits. In-store advertising helps to retain the existing clients and also increasing their purchases through focused advertising. On the other hand, the outdoor advertisements are beneficial because they are able to increase the number of new clients who come to the store from passing trade. So, any store should not only be involved in indoor adverting, but they should also consider the benefits of outdoor store advertising too.