Have a retail business and been wondering how to optimise sales and profits? Perhaps 2021 wasn’t so great for your business and you’ve been thinking of new ways to bolster it in the first quarter of 2022. It is time to rethink your marketing strategies, and we’re here to help. Whether you have a fashion, electronics & mobile, or home & living type of business, among others, here are our top strategies that you should consider.
Before highlighting the main strategies you can use for marketing, let’s answer the big question, “why Carousell?” Starting a business is a huge undertaking and a risky one too. However, marketing it to grow sales and take it to the next level can be challenging, especially in a highly competitive environment, such as Singapore. Carousell was created to help simplify marketing for you.
Our seller tools like Carousell for Business (CarouBiz), that allow your business to showcase its products like a virtual showroom in the Carousell profile. This might be all that you need to increase the visibility of your brand, products and ultimately grow sales. This helps you to reimagine your business and take it to the next level.
Here are other marketing strategies for retailers that you should consider to grow your brand even faster.
Today, almost everyone uses emails, and this can be an excellent strategy for your company to reach more people and convince them to buy. When done correctly, studies indicate that email marketing can deliver a return on investment of more than 120%. This is about four times more than other common marketing channels.
To achieve this high potential of email marketing, you need to integrate it into your system to gather the emails of potential clients. Then, you can use them for retargeting, offering targeted clients new products, special discounts, and other deals to persuade them to buy. Remember that to get even more from email marketing; you need the right analysis with time. For example, if specific emails do not respond over a particular period, they need to be identified and removed from the email campaign list.
Social Media Marketing
One fact about marketing is that social media has become the new go-to point for businesses that want to grow their brands fast. Most small and big businesses are already there, so you cannot afford to be left behind. However, you need to start by redefining your target audience to understand its wants and position yourself to deliver the best.
For a business that deals with products that target young people such as fashion, electronics and the hypebeast movement, platforms such as Instagram and TikTok might be an excellent starting point. You might want to create marketing videos and short descriptions that will not just drive traffic but also enhance client engagement. Then, direct the traffic to your site, sales funnel, or website to drive conversions.
For some businesses, the idea of going online is likened to simply having a website where the products are listed for clients to see. However, it can be limiting because you have to do all the marketing and admin-related work. Often, these additional tasks can distract you from the core of your business. A simpler way would be to join an online marketplace to list your products.
In Singapore, the Carousell marketplace stands tall because it simplifies the process of getting your products listed. You only need to create a business profile, which only takes a few steps, and then start listing your products. What is more enjoyable about Carousell is that you don’t have to worry much about marketing because 1 out of 3 Singaporeans go there as a one-stop shop to purchase items. Other benefits of using the marketplace include:
- Offers a better opportunity to grow sales.
- You get regular analytics about the performance of your business with Carousell for Business (CarouBiz).
- The marketplace is another channel for selling your products, helping to optimise sales and profits.
The term omnichannel marketing might look and sound complex, but it is not. Indeed, it is very important and you need to embrace it because over 73% of retail customers today use multiple channels to do their shopping. For example, most of them start by making a direct Google search, followed by a check of reviews on the respective channels, and then they shift to social media, such as Facebook and Twitter, to see what past clients have to say. After this journey, they will locate your store to make the final purchase.
On each online channel, make sure to include your social media handles, your website, and all the various other e-commerce platforms that you’re on so that consumers can easily find different types of information and convert on the platform they’re most comfortable with. For example, on your Carousell business profile, put up your website, your Instagram page or Facebook page to let your customers see reviews and what people are saying about your business across the various platforms. This helps to establish credibility for your business and build a trusted reputation for first-time customers.
A good omnichannel marketing strategy seeks to establish when clients are likely to visit your online channel, make an inquiry, convert, and much more. Your goal should be looking for a way to optimise customer experience and make the transition between online and offline shopping seamless. Carousell can come in handy to help you diversify both online and offline traffic to grow sales. With our CarouBiz plans, you can get in-app listing insights that give insights into your business performance. These insights are vital in helping you appreciate the client’s behaviour and use the findings to increase conversions.
No effort should be spared to grow its online and offline presence. More importantly, you should adopt analytics offered by experts to understand how different marketing campaigns are working and institute changes. To learn how to get even more out of the online e-commerce space, contact us for a consultation, helping you understand the market well, measure progress, and make appropriate changes for faster growth.