Hardware Retailing

MAR 2018

Hardware Retailing magazine is the pre-eminent how-to management magazine for small business owners and managers in the home improvement retailing industry.

Issue link: http://hardwareretailing.epubxp.com/i/945288

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Page 66 of 114

HARDWARE RETAILING | March 2018 60 Planning Your Next Marketing Push Developing a marketing campaign that includes a direct goal, is targeted toward specific demographics and strengthens your brand can make all the difference for your business in 2018. Whether your marketing efforts increased sales by a single penny or thousands of dollars and whether you grew in-store event attendance by a single person or by 10, take stock of what worked and what didn't in your marketing campaign. This information can make you a more nimble and knowledgeable retailer and even help you capture your community's interest. "Campaigns are so useful because they require you to really think strategically about how you're spending your time and money to use marketing to meet your goals," Welter says. "They may take a little time on the back end, but it's definitely worth the extra effort." How are your operation's marketing efforts coming along? Tell us about your successes and struggles at facebook.com/hardwareretailing. Take Advantage of Team Talent The best marketing campaigns use team members' individual strengths. Think strategically about how to best harness your team's skills and talents to achieve your marketing goals. Does someone in your operation have a background in journalism or communications? Try encouraging that person to write some content advertising your e-newsletter and how your target demographics can benefit from subscribing. Is there someone on staff with a background in art or design? Give them time to design a graphic that can be used in your social media posts, flyers or mailing material. By expanding your company's marketing efforts with clearly defined goals, tactics and responsibilities, you can even boost employee morale and energize your employees just as much as you're hoping to engage customers. If you're unsure of where to start or don't have a large budget, looking to your team's talent can be a great starting point, Welter says. Team members can authentically instill your brand into all marketing. Track Your Success Honestly evaluating the successes and challenges you faced as you launched a campaign is a valuable portion of any initiative. Big-picture evaluations like whether you increased sales at your store or attendance at an event can be good barometers of how your marketing efforts panned out, but there are other ways to measure your success. "Measuring ROI with your marketing campaign is important because it lets you know whether the time and money you've spent were worth it," Welter says. "If you're spending thousands of dollars in print ads and mailings, but don't know if you're making money off of those efforts, finding a way to track them can help." For direct mail, adding a specific code to coupons and tracking how many are redeemed can give you an idea of how successful that tactic is. Digital marketing allows retailers to zero in on specific campaign metrics, and by evaluating link clicks, post impressions (how many people saw your social media posts) and email open rates, you can further refine how impactful your marketing efforts were and learn which tactics to use in the future.

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