COVID-19 was not what we were expecting in 2020. It made all so many people pivot in one way or another. Suddenly, those with thriving small businesses such as small unique bookstores or any boutique type store were forced to halt and close because the pandemic was threatening their sheer existence.
Let’s face it, since the onset of the internet, more and more businesses big and small have gone primarily online. The pandemic was just the icing on the cake that solidified a growing trend. Taking and converting your brick-and-mortar business online is a very wise decision. Some of the big chains have even gone in this direction.
We aren’t saying that traditional retail marketing is dead. After all, it is offered as a major in some business schools, but we can promise you that it will have more of a digital spin.
When we say retail marketing, we refer to traditional strategies used to reach customers. Let’s say you have a small store that sells a hard-to-get item at a great price.
With traditional retail marketing strategies, you would reach out to:
- Department stores with various sections
- Discount stores
- Malls and big shopping centers
- Franchises (Start a franchise of your product and store so others can sell and get the word out)
Retail marketing strategies can get complex and expensive.
Since you are targeting a customer you already have, it takes a long time to build your product into global status, if at all. This is assuming you only have a brick-and-mortar store.
Even if you have a brick-and-mortar store, it should have its digital twin online, or at the very least, make sure you use social media marketing. The best-case scenario is to have both an online presence and your brick-and-mortar, then use social media for marketing both!
The advantages of using social media for marketing include:
- Customer engagement
- Brand recognition
- Global reach
- Brings in new customers in record time
- Cost-effective (a little goes a long way)
- The various types of social media platforms enable more exposure
The moral of this story is if you only have a brick-and-mortar, then start an online equivalent. The pandemic should have proven that online businesses seem to have been vaccinated and are pandemic-proof. This includes restaurants that could be online for special delivery. The overhead for online businesses is different and more cost-effective than their brick-and-mortar counterparts.
Don’t be surprised if your online business outgrows your brick-and-mortar. If your brick-and-mortar business is dwindling, make it a flagship store and use social media to market it!
Want to learn more about our marketing strategy services? Call us at 818.488.1543 or email us at info@edkandcompany.com for more information!