Local store marketing (LSM), also known as "neighborhood marketing," or simply "local marketing," is a marketing strategy that targets consumers/customers within a radius around a physical location with marketing messages tailored to the local populace. Tactics can be varied but are differentiated by the localization of the marketing message.
Often, local store marketing is employed by individual locations of a larger corporate entity - e.g. a franchise store rather than the franchisor - to supplement mass-market advertising campaigns. However, independent and regional retailers utilize the same strategy and tactics in their marketing efforts.
Techniques
Local store marketing includes a vast array of marketing tactics utilized by businesses everywhere. Some of these include promotion of business in a local
chamber of commerce
A chamber of commerce, or board of trade, is a form of business network. For example, a local organization of businesses whose goal is to further the interests of businesses. Business owners in towns and cities form these local societies to a ...
,
direct mail
Advertising mail, also known as direct mail (by its senders), junk mail (by its recipients), mailshot or admail (North America), letterbox drop or letterboxing (Australia), is the delivery of advertising material to recipients of postal mail. Th ...
, issuing local
press release
A press release (also known as a media release) is an official statement delivered to members of the news media for the purpose of providing new information, creating an official statement, or making an announcement directed for public releas ...
s, hosting events,
sponsorships
Sponsoring something (or someone) is the act of supporting an event, activity, person, or organization financially or through the provision of products or services. The individual or group that provides the support, similar to a benefactor, is k ...
, purchasing ad space in print, outdoor, or local television, etc.
Retailer vs Manufacturer
Local marketing can be studied from both the retailer and manufacturer perspectives. For the retailer, local marketing implies optimization of the store's marketing mixes both in-store and out of the store. For the manufacturer, local marketing involves optimizing a product's marketing mix at the store level.
In-store Marketing Tactics
In-store marketing varies depending upon the entity managing the marketing - the retailer and manufacturer have different vantage points and means at their disposal. Many in-store marketing tactics can be employed by either entity.
* Good
customer service
Customer service is the assistance and advice provided by a company to those who buy or use its products or services, either in person or remotely. Customer service is often practiced in a way that reflects the strategies and values of a firm, and ...
*
Loyalty cards
* Hosting events
*
Upsell
Upselling is a sales technique where a seller invites the customer to purchase more expensive items, upgrades, or other add-ons to generate more revenue. While it usually involves marketing more profitable services or products, it can be simply ex ...
via package deals
* Analyze traffic patterns
* Educate customers
* Seasonal displays
*
Review program
*
Referral program
* Product placement
* Sampling
* In-store signage/
point-of-purchase
*
Product design
Product design is the process of creating new Product (business), products for businesses to sell to their customers. It involves the generation and development of ideas through a systematic process that leads to the creation of innovative products ...
*
Graphic elements
*
End-cap displays
Out-of-store Marketing Tactics
Out-of-store marketing incorporates most traditional marketing channels, albeit those focused on a local area. From joining local business organizations, sponsoring local sports teams,
co-marketing
Co-marketing (Commensal marketing, symbiotic marketing) is a form of marketing co-operation, in which two or more businesses work together.
"Co-marketing" began in 1981 when Koichi Shimizu, a professor at Josai University, published an article ...
with neighboring stores, and more.
Online Marketing Tactics
Online marketing is an affordable way for local retailers to communicate and promote their business. Free methods of which are getting online reviews, maintaining accurate hours on online directories and social platforms, communicating/engaging with followers via social media, email and sms marketing, search engine optimization and more. Paid online marketing can involve
local search marketing, local social marketing, geo-targeting, beacons, and other tactics.
References
{{DEFAULTSORT:Local Store Marketing
Retailing-related lists