This discussion has to start with a conversation about marketing in general. In general when we talk about “Combination Marketing”, we are recognizing that successful retailers will be knowledgeable about several advertising and marketing approaches and most will use a “Combination” of the several approaches to leverage their budget and reach their target audience.
One of the areas commonly missed which provides one of the most “Direct Communication” to a retailers specific target audience is “Visible On Site Marketing” (VOSM). Not only is VOSM one of the best marketing strategies to directly reach the intended consumer audience, it is one of the least expensive strategies to deploy.
As marketers, we are all trained or expected to think in terms of ROI (Return on Investment) and as seasoned marketers, we also know this can be somewhat elusive.
Some of the more recent on-line marketing strategies tie “eventual sales” back to specific key words and web strategies and with these approaches calculating ROI using our cost basis has become much more attainable. That said, we have a host of other advertising mediums where the measurements are more challenging to pin down. Some of these traditional mediums include radio, TV, newspaper ads, magazine and billboards. In many cases these comparisons come in the form of CPM (cost per thousand) comparisons. These of course are impression costs but the calculation does provide some general methodology of comparison.
Even using these impression numbers divided into the campaign costs to get cost per thousand can be dissected further but comparing CPM’s is a commonly acceptable practice for evaluating alternatives and allocating budgets.
So back to the question? Where does “Visible On Site Marketing” (VOSM) – Fit into “Combination Marketing”? Let’s start with the definition of VOSM, which involves recognizing that one of the most important determinants s of success of a retail business is LOCATION.
A VOSM program can include a variety of professionally installed visible marketing products including custom designed banners, custom designed window graphics, giant inflatable balloons, custom flags, pennants, tents, wind dancers, searchlights, sign walkers and a host of other products and ideas. This can all be handled by professional installers in the categories of on-site marketers, inflatable advertisers, custom inflatables, giant balloons and rentals. Look for a national supplier with multiple capabilities that can design a monthly, quarterly or annual plan for you. A high quality VOSM company will offer program design ideas, run interference on city and landlord discussions and make sure the product is put up on time, consistently across multiple locations and comes down all at the same time.
One of the most important decision surrounding locations is the demographics that also includes the drive by and walk by traffic. This IS the retailer’s most DIRECT reach for their targeted audience. There is a place for radio. There is place for newspaper. There is a place for TV. BUT, nothing gets more direct than targeting and reaching your retail locations as when your target audience passes by your front door.
VOSM leverages this fact and does so at a fraction of the cost vs any other medium including direct mail. Take a look at the accompanying chart. Successful retailers who know this continue to outpace their counterparts in same day sales and year over year growth. They do this two ways. First of all they recognize and leverage their most convenient and direct target consumers right passing right in front of their store by using AND they recognize that retail marketing is NOT one and done.
In other words, when your sale is over, you are already planning on your next sale. Consumers are driven by sales, promotions and holidays and are looking for reasons to SPEND. Sales Tax relief day … found a reason to buy. Back to school … oh found a reason to shop. Oh Black Friday … must be time to spend. Every major holiday … definitely have the time available and reason to shop.
So the moral of the story, if you want to increase your sales and attract and provide an experience for your customers. Get VOSM into your combination marketing, contact an On Site Visible Marketing firm to coordinate the entire effort for you AND last but not least. DO IT OFTEN!!!!!!
Happy Marketing and even better happy selling!!