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Business/Marketing

Best Retail Marketing Strategies That One Must Follow – Shamayun Miah

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Best Retail Marketing Strategies That One Must Follow – Shamayun Miah

Make better use of your current marketing space

Before branching out into other marketing channels, it’s best to make the most of what you already have. Retailers have been using these spaces for a long time, but the way they use them has changed considerably throughout the years. We’ll discuss how to make greater use of your curbside, window display, and product shelves. Curbside and window displays can help you increase foot traffic and improve your business image. Once customers are inside your business, optimizing your merchandising approach will increase basket size- Shamayun Miah.

Displays in windows

Depending on the amount of foot traffic you receive, changing your window display once a month or once every two weeks is an excellent practice to follow. Customers see your window display as an extension of your brand and the type of service you provide. As a result, taking the time to thoroughly consider its design will benefit your retail business.

Limited-time deals might be displayed in large, bold characters to generate a sense of urgency.
Decorating your exhibit according to the seasons and holidays will also help. It will also assist you in forming a bond with a passerby and converting her into a visitor.

Merchandising

It’s an important aspect of every retailer’s in-store marketing strategy. It would be to your advantage to employ attractive and simple-to-navigate stands so that customers can find what they want quickly and enjoy the process of buying at your business. However, these aren’t the only considerations to make while organizing your stuff. In a store, product placement is about much more than what looks nice or fits best in different departments- Shamayun Miah. The shopper’s eye level, elevating items stands, and display shelves are all critical considerations.

Expand your social media following

Because retail is a consumer-driven industry, it’s ideal for being promoted on social media channels to audiences who are large consumers. According to studies, 81% of individuals use social media to help them identify things, and 80% think it helps them make purchasing decisions.

Shopping ads on Google

Google accounts for roughly 40% of all shopping queries, which is a considerable number considering Amazon accounts for about 50%. You should aim to incorporate Google shopping advertising into your retail sales strategy because they are a very efficient way to promote sales online.

Google shopping ads appear above search results and are the first thing that a user notices. They account for 85% of all clicks on Google advertisements and retail efforts. This might be a wonderful advertising technique for your retail store if you want to increase interaction.
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Business/Marketing

How To Master Retail Marketing Strategy – Shamayun Miah

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How To Master Retail Marketing Strategy – Shamayun Miah

So, what are they doing differently, and how are they combining several channels to create such effective marketing campaigns?

Read on to learn about some innovative methods merchants are driving sales with marketing, as well as real-life examples you can learn from and use as inspiration for your next campaign. Integrating client data from in-store with data from online and offline channels

Some merchants have discovered that their in-store customers use mobile devices to check reviews, hunt for more sizes and stock, and peruse products throughout the brick-and-mortar shopping experience.
To take advantage of this, they’re making it easier for mobile-savvy customers to share in-store information across channels and devices and then exploit that data through targeted marketing initiatives- Shamayun Miah.

Making use of user-generated content

Other shops are allowing customers to create branded content through in-store interactions, and then putting that content to use. They’re developing marketing materials that feel more organic as a result of this, and they’re leveraging the sharing component of social media to increase their reach much beyond what internal efforts could achieve.

Using data to personalize experiences across platforms

When it comes to using data acquired across numerous client touchpoints to create more targeted future experiences, some marketers have found out how to implement systems that enable them to do so. They can more efficiently cross-sell and upsell based on robust customer profiles this way- Shamayun Miah.

Using location data to create a variety of purchasing options

Rather than competing with one another in-store or online, some retailers are making it easier for customers to shop in the way that suits them best. What exactly are they doing to do this? Based on the shopper’s location data, they’re displaying the nearest retail location alongside the mobile shopping experience.

To boost in-store purchases, send out email promos

Certain businesses employ a printable offer that can be redeemed for an in-store purchase to improve sales. It’s hardly a groundbreaking idea, but it’s assisting retailers who don’t offer online checkout in improving their email marketing ROI (think restaurants, automotive repair shops, etc).

Because not all marketing approaches will work for you, it’s critical to experiment and be creative when it comes to using or combining different marketing tactics with a personal touch to assist your retail shop to acquire awareness, recognition, and, eventually, profits.

 

Technology

Role Of Chatbots In The Retail Sector – Shamayun Miah

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Role Of Chatbots In The Retail Sector – Shamayun Miah

This blog highlights the role of chatbots in the retail sector by Shamayun Miah.

Chatbots Can Help You Save Time And Money

Chatbots use a question-and-answer format that mimics the back-and-forth of human conversation. You can also incorporate artificial intelligence into your bot to expand its capabilities. Bots, on the other hand, are ideal for answering frequently asked questions from prospects and customers. Bots can be equipped to provide helpful information in a conversational style, whether it’s about product features, shipping costs, returns, or order tracking.
As a result, rather than wasting time repeating the same answers to FAQs, your human agents will have more time and energy to focus on complex inquiries. You may also end up saving money on staffing costs this way- Shamayun Miah. Just keep in mind that chatbots aren’t meant to replace your entire staff.

Chatbots Can Help You Stand Out From The Crowd

Chatbots are being used by some major retailers, but they are still a relatively new technology in the e-commerce industry. As a result, adopting one now will put you ahead of the competition. Bots can provide users with useful, entertaining, and one-of-a-kind experiences throughout the entire customer journey. A bot will streamline and personalize their interaction with your brand, increasing the likelihood that they will choose you over a competitor in the future.

Chatbots Can Be Tailored To Your Company’s Needs

Bots are a highly adaptable technology. They can be customized to perfectly fit the needs of your specific retail business, niche, and audience with the right tools. You can program your bot to support multiple languages, integrate it directly into your website, and do a variety of other things. There are numerous options for customizing a chatbot to fit your brand and make it highly effective for your customers and your bottom line.

Summary

Chatbots are an efficient way to take advantage of AI’s growing power for e-commerce sales and customer service. A chatbot can improve the shopper’s experience and increase revenue with the right approach and implementation, all while saving your company time and money. Customers will notice that your brand prioritizes their convenience and experience if it is always available and consistent- Shamayun Miah.

Business/Finance/Investments/Marketing/Technology

Commercial Retail Stores Is A Long Term Investment How? – Shamayun Miah

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Commercial Retail Stores Is A Long Term Investment How? – Shamayun Miah

As the economy adapted to quarantines and high COVID-19 transmission rates, several retail and department stores went bankrupt in 2020 and 2021. As more people shop online, experts predict that retail stores will be reduced by up to 25% by 2025. Healthcare, grocery, and other alternative stores are expected to replace retail stores in urban areas such as New York and San Francisco. The appeal of investing in this type of property is multifaceted- Shamayun Miah. Investing in different asset classes or property types allows investors to generate higher investment returns while also benefiting from tax breaks.

Commercial real estate investing entails putting money toward the purchase of commercial real estate property such as office buildings, multifamily apartment buildings, hotels, malls, storage facilities, and shopping centers, among others.

If you want to make this type of investment, you must be committed to keeping the commercial real estate holding invested for the long term.

Because commercial real estate is an illiquid asset, your funds may be locked up for an extended period- Shamayun Miah. Illiquid investments typically generate higher returns over time and are not subject to daily price volatility; however, some opportunities may have a higher barrier to entry. If you want more liquid investments, commercial real estate may not be the best choice.

Real estate can be a profitable asset class to invest in. Beginners, however, should be aware of the investment risks associated with this type of real estate property. Here’s what you should know about commercial real estate investing to see if it’s right for you:

How to Begin Investing in Commercial Real Estate.

Commercial real estate investing, in particular, has a reputation for producing some of the highest income streams. If you’ve been investing in residential real estate for a while and are wondering how to get started in commercial real estate, this guide will teach you everything you need to know.

Trends in Commercial Real Estate Investing in 2021 and 2022

During the COVID-19 pandemic, offices, hotels, retail stores, and other commercial real estate investments suffered greatly. While the pandemic isn’t over, commercial real estate is expected to continue its upward trend in the coming year. Many commercial real estate investors are optimistic as the industry continues to adapt to changing market conditions.

 

 

Business/Marketing

In-Store Marketing Strategies For A Retail Business That You Need To Start Today – Shamayun Miah

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In-Store Marketing Strategies For A Retail Business That You Need To Start Today – Shamayun Miah

To boost the business, numerous in-store marketing strategies can support retail business.

Provide free WiFi

Offering free WiFi to clients at your physical site is one of the simplest methods to sell to them. When customers check-in, they receive your marketing messages, allowing you to advertise the many items and services on offer.

Customers like the branding benefits of WiFi marketing. They will be more patient while waiting for your personnel if they are amused on their phones- Shamayun Miah. This implies customers are more likely to be satisfied and return to your establishment in the future.

Customers Can Be Upsold With Signage

In-store marketing is all about appealing to customers right now. Signage is one of your finest alternatives for increasing sales and getting clients to spend a few dollars extra each time they enter your business. Customers may be upsold by emphasizing bundle packages for further savings, promoting seasonal goods they can try, and outlining the benefits of your lesser-known selections. Digital signage that is displayed and labeled makes it simple to sell to customers and boost sales.

Customers should be given useful information

While entertainment is a vital element of the consumer experience, education is also crucial. Customers trust your brand because they believe it is the most dependable and that you provide something that they cannot obtain anyplace else.

Make sure you’re giving consumers the proper information and establishing yourself as an authority in the industry.

Make Your Entertainment Brand-Related

If you use music, TV, digital trivia, or other forms of entertainment to keep clients entertained while they wait, make sure the material is relevant to your business and supports your overall goal. Setting up a radio or streaming cable TV puts you at the mercy of other content developers. They could play an offensive tune or show a competitor’s advertising.

Customers Should Be Contacted for Surveys

Many businesses rely on customer surveys to get information about their performance and prospective changes- Shamayun Miah. Customers that have survey numbers on their receipts are usually given instructions by the cashier. However, by the time the consumer arrives home, he or she has forgotten about the survey and will not bother to finish it.

Instead, try doing in-store surveys so that clients may provide feedback before leaving your establishment. This might be as simple as placing a few interactive touchscreens at the exit or asking an employee to conduct a poll before visitors leave. You may even give them a discount on future services if they finish it. This demonstrates that you are paying attention while offering incentives to get people to return to your establishment- Shamayun Miah.

Technology

Advantages Of POS System In The Retail Sector – Shamayun Miah

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Advantages Of POS System In The Retail Sector – Shamayun Miah

Cellphone pay on pos machine

These days POS system in the retail sector is gaining huge popularity. Well, this blog highlights the benefits of POS in the retail sector.

Improve the checkout procedure.

A POS system dramatically speeds up the checkout process. You can rapidly discover goods, assign orders to consumers, and apply discounts if you have a consolidated database of your products, pricing, and customers. The process is significantly faster if you use a barcode scanner.
Customers do not want to wait in line for an extended period to finish their transaction. According to Shamayun Miah, you can limit the number of consumers who leave your store without purchasing if you use an effective POS system.

Increase the number of payment alternatives

Payment technology has evolved substantially in the last five years, and businesses are under intense pressure to keep up.
Customers can pay with eWallet, in installments, or combine several means to pay for one item in addition to cash and credit card. With a versatile POS system, you can provide more payment alternatives to your consumers while also ensuring that they leave with a positive image of your business.

Provide deals that benefit both you and your consumers

A POS system is essential since it collects all of your sales, inventory, and customer data. You may use this data to calculate and manage marketing strategies that attract clients to visit your shop while keeping your bottom line in check.

You may build up variable promos based on goods, order amount, membership tier, and more, depending on your POS capabilities. The POS can then automatically apply these promos to any sales, saving you the time and effort of manually calculating everything.

Supervise your employees

When using different spreadsheets, it might be difficult to coordinate and manage staff. A point-of-sale system allows you to keep track of who worked each shift. A sophisticated POS system may even provide data on each employee’s sales success and determine the commission rate.
This allows you to keep track of each employee’s progress toward their objectives and determine how to encourage or reward them- Shamayun Miah.