Successful trade marketing: Nothing works without strategy
The most basic prerequisite for successful sales marketing sounds almost like a truism – without a strategy and clearly formulated objectives, nothing works. Neither for manufacturers/suppliers and their products or services nor for local retailers. And as different as the two worlds may be at times – in digital trade marketing they come together. How exactly, we reveal in this feature.
Trade marketing measures: Elementary differences, joint interest
Even the varying definitions of trade marketing show the differences between brands and retail. Manufacturers produce goods, whether capital or consumer goods. Retail, in contrast, is by its very nature always also a service provider – both in the direction of the manufacturer and in the direction of the end consumer. This difference is elementary, yet both partners are united in one common interest: acquiring (new) customers. Or, to put it more briefly: turnover. There are a variety of digital trade marketing measures that can be used to promote the sale of products and services via retail. Here are just a few examples:
- Online shops
- Online marketplace
- Search engine marketing (SEM)
- Search engine optimization (SEO)
- Social media marketing
- Influencer marketing
- E-Mail marketing
Tarde marketing in times of digitalisation
Digitalization has enormously broadened the possibilities for manufacturers and retailers to communicate with end consumers. In addition to the classic analog measures such as folders, catalogs, advertisements, and commercials (whether nationwide or regionally limited) and sales-promoting aids at the PoS, such as exhibitors or seasonal decorations, the internet has come into play with the entire range of its potential touchpoints. Addressing highly specific audiences via targeting is just as problematic as the differentiated communication of product advantages that must be explained. The latter has so far been the very own domain of the retail trade.
Nevertheless, the “place” among the classic 4 Ps in the marketing mix for many brands continues to be stationary, local retail. The advantages of being present there are too great. Brand image and brand awareness increase through analog touchpoints with the end customer. And with the social media channels of the retail partners, there is also an enormously powerful instrument for the target-group-specific playout of the most diverse forms of digital brand communication.
For local retailers, the advantages are also obvious. Their communication in the digital space – obligatory at the latest since the Corona crisis, if not necessary for survival – gains significantly in stature through the playout of professionally produced content. The image transfer associated with the shine of the brands to the status of one’s own channel is enormous. The same goes for the time saved when firing up one’s own social media channels – assuming the use of appropriate tools such as socialPALS.
KPIs: Key performance indicators as radar on the way to corporate goals
First, however, let’s briefly return to the strategy. As diverse as it may be for many brands and markets, it is always a kind of roadmap to a clearly defined goal. To get there as efficiently as possible, the effectiveness of the chosen strategy must be constantly monitored. So-called “key performance indicators” and other key figures are usually the metrics of choice here.
The digital world also provides many excellent and exact measuring instruments. Be it through highly differentiated sociographic documentation (and subsequent analysis) of contacts, through the study of dwell time or regional differences, or even through tools such as A/B tests. The possibilities for brands to learn more about their clientele and how to address the target group in the most promising way have never been as great as they are today. Impressions, reach, leads, conversion – even via the digital channels of stationary retail, the web can generate a lot of valuable key figures for constantly optimizing marketing measures. We’ll be happy to show you how!
Act today and use your MDF more effectively!
socialPALS brings brands and retail partners together and creates a win-win situation that unleashes previously untapped potential. The innovative software solution simplifies complex processes through automated trade marketing and strengthens stationary retail through regional brand campaigns. Get your obligation-free platform demo today and become part of the socialPALS success story.