Using Digital Advertising to Sell More in Retail Stores
94% of retail sales still happen in person. Online activities drive these transactions more than ever. There’s a direct correlation between someone seeing an online ad and then shopping in a brick-and-mortar store.
So if your product is in retail stores, how do you support them digitally? Display advertising, especially when combined with remarketing, is a proven driver of retail velocity. By targeting geographic radii around the retail stores that carry your products, you engage with customers at the moment of purchase decision. It’s a great reminder to them to look for and buy your products now that they are in-store.
Retail stores judge product success, sometimes harshly, on their velocity at retail. Not enough sales means the products get pulled from the shelf. So how do you use digital to push retail sales at stores?
First, different retailers have different customer profiles of their users and geographies. CVS Pharmacy shoppers are different from Walmart shoppers, so start by understanding what the sales goals are at each retailer. Then overlay a deep consumer segmentation, as kids’ products are very different from a health & beauty item. Ask yourself:
- How many impressions do we need to drive a sale at each retailer?
- What are the top 20% of stores that drive the most sales volume?
- Are there better days of the week? i.e., Kids’ products sell better on weekends
- Are there other correlating factors to sales? i.e., Temperature, Weather, or Holidays