In this day and age, marketing has proven to be a challenge for many small business owners. In a survey by Rakuten Marketing, participants estimated they waste 26% of their budgets on unproductive marketing strategies. Brick-and- mortar businesses in particular find themselves divided between digital and more traditional plans without a clear path forward. It may be useful for many of these businesses to take a step back and start with the basics. The first of which is: location, location, location.
What does it mean? The phrase "location, location, location" initially applied to real estate: the value of a property was largely dependent on where it was located. However there are business applications as well. The first may be obvious to many- the location of the business directly affects its profitability. For example, if customers cannot find your business easily, it will not succeed. The second application is the location of your customers directly affects your profitably. Where are you customers? Where are they when they make a purchase? For brick-and-mortar businesses, one of the answers to that question is right outside their doors.
The more people in the area, the greater the opportunity for customer engagement. Your goal is to drive foot traffic to your business- leading to higher sales conversions and revenues. Sidewalk signage is a great start to enticing people into your store. Additionally, your store must be found, even at a distance. Monumental signage and eye catching swooper feather flags will help garner attention and mark your location. Dor, a company specializing in foot traffic analytics, offers 40 additional examples of boosting foot traffic on its site: https://www.getdor.com/blog/2019/10/14/how-to-increase-retail-foot-traffic-sales/. Check it out and start increasing sales today!