Whether you have a brick-and-mortar store or an online retail enterprise, your marketing plan probably already includes a variety of advertising strategies in a number of media. But there is one marketing strategy that while decidedly old-school can be very effective: point-of-purchase marketing.
Point-of-purchase, which generally promotes impulse purchases, often in the area where customers pay, adds one more arrow to your quiver of marketing strategies. Unlike many other forms of advertising, it can be successful for a very low cost. Here are four ways POP marketing works.
1. Appeal to Impulse
The beauty of effective POP advertising is that it usually occurs when customers are opening their pocketbooks to make a purchase, and that’s a good time to be asking for an additional sale. They are already spending, so all they need is a nudge to spend a little more. If a customer is in a buying mood, a bit of POP advertising to suggest the perfect complementary product or discounted merchandise can be the impetus needed to seal the deal. POP marketing works extremely well for impulse buys, and customers can be wooed by the power of presence and an effectively planned POP marketing appeal.
2. Promote Brands
Effective in-store advertising such as POP marketing can prompt brand shopping and hopping. POP-marketed items can be perceived as having a competitive edge or a slight advantage over another familiar product by virtue of being singled out for special promotion. The campaign may even convince them to take a leap of faith and buy other products from the same manufacturer or maker.
3. Manipulate the Market
POP marketing gives a retailer direct and undeniable influence in the sales exchange, so the retailer becomes a powerful member in the transaction. A retailer who thoughtfully and successfully uses POP marketing sets the agenda for what sells, what’s hot, and what’s in demand. You can manipulate the market to some degree by what you select to move and showcase. Savvy shoppers appreciate a retailer who weeds out the inferior products in favor of superior ones, particularly those perceived as recommended by an authoritative or expert retailer. Suppliers and manufacturers will pay attention and respond when retailers sell more of their products.
4. Be Creative with Placement
POP advertising is a very versatile and extremely adaptable medium when it comes to placement opportunities. It can go practically anywhere. You can opt for simple, low-cost, homemade displays or pricey, professional, innovative ones with flashing signs and cheeky commentary. Business owners are only as limited as their imaginations, and the more creative your efforts, the more impact they can create:
- Use the checkout counter, the front door, a display window, or your home page.
- Use simple links or inventive gimmicks on Web sites.
- Use printed messages on shopping bags, receipts, posters, banners, mirrors, or windows.
POP marketing may convince shoppers to buy more than they originally intended, and it can be just the cue they need to spend money on products that wouldn’t have been top of mind without the POP attention. Additionally, they may be more susceptible to taking home products that are merchandised together in truly effective POP displays.
But POP marketing does have some downsides. For instance, it only reaches consumers who see the campaign, meaning the ones in the store or on your Web site. It’s product-oriented shopping and usually appeals to a captive audience of existing customers, so its ability to attract new customers is limited.
However, POP advertising can add a new dimension to in-store sales and keep customers coming back, looking for more exciting promotions.