Written by: Ashley Randall
The phrase in store promotions is in the CPG brand bible, so if you don’t know it, here is your chance to learn. According to Retailmenot, “promotions spark in-store purchases for 91 percent of shoppers who use in-store promotions.” For most consumer packaged goods brands, in-store marketing is a way of connecting with their customers, while striving to give them the best experience in the retail stores.
This is important, because not only does it help build brand recognition, it increases your sales velocity. Now that we are post COVID, people are back to shopping in retail stores to buy their groceries and toiletries. Even though we're in a time where food and beverage costs are rising due to supply chain concerns and inflation, this is a vital time to implement in-store promotions to make it worthwhile.
CPG marketing is a marketing strategy to get your products in the hands of consumers to buy. But how does that apply in stores? There are many ways to implement a good in-store CPG marketing strategy to boost sales and move products off and back on the shelves. One strategy that works well in retail is display signs.
Putting colorful, on-brand display signs right next to your product is a great way to get the consumer’s attention. Whether they know about your product or not, this is a way to lightly educate them about your product, just enough to get them interested in buying. Not only will this potentially help your sales velocity, it will increase your brand awareness. For more information on how to build your brand through in-store promotions, read How CPG Brands can Brand Build with Shopper Marketing.
Another in-store advertising strategy to use is consumer incentives. We all know that people love it when they feel they’ve gotten something free. So why not make it an official win-win? The most popular consumer incentives are loyalty programs, coupons, and samples. And when they are all in digital form on an app, that makes it easy for the ever-growing tech savvy consumers to participate in the incentive.
Loyalty programs are great, because it makes the consumer feel appreciated for buying your products. If your brand is good, your customers will not mind spending the money for quality and loyalty. This makes them feel valued, and in return, it builds a digital relationship between you and your consumers. The more they buy, the more you will reward them. One way to do that is by coupons.
Who doesn’t love a good coupon? Many consumers shop with coupons because they love the feeling of buying something for almost free. And the more coupons you offer, the more they will continue to buy your brand. This is one of the best ways to win customers over when you have recently launched a new product or are expanding into new retail accounts.
Think about it, a customer is shopping for toilet paper and has two options in front of them. Brand A is a brand they’ve used before and loved. Brand B, which is your brand, is something they have never used. Both brands are the same price, same quality, only, you offer a $2 off coupon. The customer will likely give your brand a try, only because they feel as if they got a great deal.
Saving the best for last, samples are the greatest in store promotion there is. Samples are great because they are free. Remember when we said customers love the feeling of getting something for free? Well, this is it. This gives them the opportunity to try your product before they buy. And if you have an awesome product, they will definitely buy it.
Remember the time when in-store demonstrations were a thing? Yeah, those were great times. But then COVID happened and put a stop to it. That was one of the best ways for consumers to try samples in retail stores. But, not anymore. There is a new approach to in-store sampling. And it is called cashback rewards. We are not talking about a small cashback reward. We are talking 100% cashback rebates to your customers, just for trying your product.
Product trial solutions like Sampoll, have recently developed a new Rapid Rebate™ approach to reimburse your shoppers within 1-3 days of uploading a proof of purchase receipt to our AI-powered chat ambassador “Sam”. Instead of using paper coupons, Sampoll implements multi-channel consumer targeting capabilities to target your consumers based on their interests and location to introduce them to your product. “Sam” will have trackable 1:1 conversations with your consumer to educate them about your brand, and your product.
No worries, Sam gets their personality from you. Sam mimics your brand’s tone and personality when communicating with your consumer, so everything stays on brand. It’s a risk free opportunity for your consumers to try your products at nearby retailers, while having the option to receive additional incentives in the future.
Typical performance for grocery/retail coupons is 3-5% redemption rates on average, while Sampoll's Rapid Rebate™ are performing at 10-20% redemption rates, nearly a 2X - 3X better performance than traditional coupons.
If you don’t believe us, try it out for yourself. Contact a Sampoll rep to show you how it all works. Click here to request a demo.