“Chinese New Year did not boost retailers’ takings in February this year, with sales falling 3.2 per cent compared to the same month a year ago, according to data released on Friday (April 15) by Singapore Department of Statistics.”
– Straits Times, April 15 2016
Rising influence of e-commerce is affecting sales and retailers are feeling the crunch. That, however, does not mean that you should shut down physical presence in malls and adopt the total e-commerce. Here are some ways which can combine the power of digital marketing to drive prospects to your store and converting them to sales.
1 – Target Mobile Shoppers
A survey done by PwC in 2016 said that results showed 60 per cent of consumers in Singapore buy products online at least once a month. Singapore is also ranked highest globally for smartphone penetration, with nine out of 10 respondents having access to a smartphone.
With such high Mobile penetration brings a huge amount of opportunities to leverage on. Retailers can make use of mobile platforms broadcast promotions, provide more detailed information on products or even provide live updates on whether a limited edition item is about to be sold out.
2 – Improve your site ranking
Just because everyone is turning towards mobile, don’t dismiss the power of print ads, they are still valuable marketing tools. Print ads not only create awareness for your content, they add credibility and amplifies your marketing message.
Your marketing efforts does not stop there. If a consumer took notice of your advertisement, the next line of action would be to Google for your brand. According to Google’s research, in 2014 around 50% of consumers who performed a local search on their Smartphone visited the store in question within a day while 34% of those who performed the same local search on a laptop or desktop did the same.
If you want your print ads to be have a return on investment, spread the same content across digital media channels. You should also improve on your brand’s site ranking to ensure that the consumers have the best first impression.
3 – Develop interest into action
Consumers these days are spoilt for choice. They are no longer geographically binded and only able to choose products available in their countries. This increases competition and the need of differentiation. In order to continue drawing consumers to your shop, bring things back to basic principle of marketing, provide the sense of ‘scarcity’.
Everyone loves a limited edition. It makes them feel special and attach more value to the item. Quantity may equate to the number of items on sales, or the time the item is on sales.
Festivals are the best time to build this principle. The shopping list is long and consumers have to visit several platforms to get everything they want. Online shopping portals now provides the immediate solution with thousands of options. To increase the impulse of purchase, title the items with a ‘timeline’. Consumers will feel a sense of urgency and they are compelled to take action.
A new age consumer is well-informed and spoilt for choice. In order to increase your brand awareness and attract tech-savvy customers, you need to leave no stone unturned. Understand the decision making process of these “techies” and bring information straight to them.
While mobile shopping is increasing rapidly, most consumers still only use the internet to “pre-shop” and search for information. They still prefer to see and feel the physical product at the stores. With a good digital marketing campaign, high site ranking and providing access to real-time in-store inventory, you should be able to successfully drive consumers to the store.