By trade marketing we understand the set of strategies and actions that are implemented in a store, whether physical or virtual, to increase the demand for a product. In other words, it’s about making it more attractive to generate more sales.
In English, trade refers to the marketing of products, their exchange in a purchase and sale transaction. This is why trade marketing actions are aimed at stimulating the consumption of a particular item.
Today we are going to get to know the term in detail, bring you marketing trade actions as an example, and tips for designing and implementing good campaigns.
Trade marketing: concept
Trade marketing is the set of strategies and actions that are put in place to improve a business, both physical and virtual, and boost sales of a certain product.
The most obvious example could be a 2 for 1 offer or a discount on the purchase of a second unit. As we said, they are promotions that increase the demand for a product.
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Trade marketing tactics are aimed at two more comprehensive purposes. On the one hand, make the store more attractive, encouraging consumption in it. On the other hand, it is about improving the shopping experience in an integral way.
It is understood as a specific branch within general marketing, which is a broader discipline and groups activities and processes aimed at strengthening and improving the positioning of a brand.
In the long term, it is about building and strengthening the relationship between a business and its consumers.
Trade marketing is dedicated, then, to improving the commercial outlet, that is, increasing sales. This is why issues such as product display techniques, incentive and/or distribution campaigns or product category management come into play.
Knowing that marketing trade seeks to boost conversion, there are two important points to keep in mind before starting to plan a campaign:
1. Be clear about the arguments for choosing to promote a product, that is, what item do you want to promote and why? One reason may be to strengthen your flagship product, the one with the highest .
It will always be a good idea to choose a product that is in its growth or maturity stage. If you are not entirely clear what this refers to, we invite you to read more about it.
two. If the sales of an item or service are going to increase, you have to calculate your stock very well beforehand! The ideal is to make a projection of how much you estimate to sell so as not to have shortages or excesses in your inventory.
We recommend you consult our e-book on stock control that includes an editable spreadsheet so you can easily organize yourself. Look!
Trade marketing actions
Now that we have a clearer idea of what it is, we are going to see specifically what trade marketing actions to implement in your venture or business.
These are examples of some strategies that will help you obtain new potential clients and retain those who already know you.
Presentation of the products
The way you display your items can make a big difference. Whether you sell in a physical store or online, it is important that you are clear about which products you are going to highlight.
Try to put yourself in the place of the person who enters your business: what is the first thing they see? What order do you find in the categories of your ?
Improving the rotation of your products can be a good idea to publicize items that may not be as present to your consumers.
In physical stores, for example, it is strategic to locate certain things close to checkouts, where people are waiting and will surely see them. You can also add posters or signage elements that highlight certain items.
In the case of the , you can implement actions to promote the purchase of more and/or better items and, with this, increase the average ticket of your business.
🏆 Bonus tip! If you have a Tiendanube, you can . This application uses to display pop-ups to customers with a personalized selection of products, based on their profile. Surprise visitors and increase your sales!
Creation of promotions and offers
We already mentioned 2×1 promotions, so characteristic of trade marketing. To create new sales opportunities you can develop coupon programs where discounts are obtained after a certain number of visits (and purchases) in the store.
Another good idea is to hold contests and raffles where the prizes consist of promotions to use within your store or purchase orders. It will even serve you as for your social networks!
There are many tactics for , even without lowering prices or lowering your profitability. Some of them are:
- Create Product Kits – Many times, the simple proposition of bundling products into bundles leads visitors to consider buying a few more items.
- Complementary products: there are some items that complete each other or work very well together. So, in the manner of recommendation, suggest to visitors “the must-haves” of your stock, based on what they have already selected!
- gift cards: credit cards for use in stores are all the rage because they allow the person to choose exactly what they want. And, for your business, the fact that someone is going to redeem their gift card, represents a sales opportunity!
merchandising development
This strategy will be aimed at retaining customers who already know your business. You can create products such as t-shirts, mugs, stickers, keychains, everything! These objects will promote your brand.
Another alternative is to include free samples of a product to your customers. This can range from tastings, product demonstrations (such as mini , perfume or flavoring samples), makeup testers, etc.
The truth is that every customer loves receiving gifts and, therefore, making an investment at this point can bring you many people loyal to your brand and strong recommenders of your business. You can include these items as a gift in your shipments.
Did you know that you can move your e-commerce to Tiendanube without creating one from scratch?
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Improvements in pre and post sale communication
The communication channels that you make available are a key tool to provide a good .
They can be many. Some examples are:
- answer pre-purchase inquiries
- send reminders of certain promotions
- ask for feedback on the shopping experience
- contact to see if the person wants to receive information about discounts
Learn more about this:
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Alliances with other brands
Collaborations with other businesses or ventures can be an excellent trade marketing strategy to reach a new audience, generate greater brand recognition and achieve more sales!
We recommend you contact companies that work with products that are complementary to yours and/or that are aimed at a similar audience. In this way, it is more likely that people who know you from this action are interested in what you offer.
6 tips for implementing trade marketing strategies
Now that you have many ideas at hand to implement concrete actions, we want to bring you some recommendations to launch your marketing trade tactics successfully!
- Work on your brand identity by applying marketing strategies, which is aimed at promoting the recognition of your business.
- Create paid ads to boost your news and generate more traffic to you and/or visits to your physical store.
- Participate in important and niche events where you can present your brand and/or a particular product, meet similar businesses for future alliances and suppliers.
- Think of different formats in order to increase the scope of your strategy.
- Get to know your target audience well to understand which tactics are going to bring you more, that is, the return on the investment you made.
- Visit other similar stores (again, both his and his physical location). Learn from them, see how they present the products, what actions they are implementing and how they are carrying it out.
We hope this article has served and inspired you! A well-planned and implemented trade marketing campaign can turn your business around and take it to the next level. 🚀
If you are already selling, but you still don’t have your own online store, we invite you to ! On our platform you will find everything you need to sell online and personalized attention for all your queries.
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