CStoremedia.com wants to know: Is in-store advertising costing you a mint and you’re not sure what you’re getting out of it? In this day of easy come and easy go, all advertising passes by in a blur, and we’re never sure what our customers are seeing and what never gains their attention at all.
John Wannamaker made his mark on department stores and was famously known to have said, “Half the money I spend on advertising is wasted. The trouble is I don’t know which half.”
Is In-Store Advertising a Good Idea or Are We All Just Wasting Our Time?
If you only waste half your advertising money, then you should be getting a lot out of the other half. In-store advertising is useful because you can target better. If someone is browsing in the linen section, it might not mean they want bathrobes, but it’s a pretty good bet they might be tempted into buying a set of bedclothes.
In-Store Advertising – Beyond Promos
Discounts and promotions help make a brand obvious, but it takes more than that to make people coming back. If a brand is confident about the quality of their product, then it’s much better to use displays and subtle codes like lighting to attract customers to a brand and create brand loyalty.
Return on investment with brand loyalty is also important even though it can’t be calculated as an immediate increase in sales.
Calculating Return on Investment
The problem is that on the internet you can calculate exactly how many ads turned into clicks and how many of those turned into sales, and where exactly people turned away.
Calculating ROI on in-store displays can be much hazier. While salespeople have many ways of doing it, include comparisons between after and before campaign sales, but calculating in store advertising return on investment on specific ad campaigns can still be difficult, especially if the impact is meaningful but marginal compared to total sales.
Why Not Internet Advertising Instead?
Internet Advertising can be much cheaper, much more dynamic and will likely reach many more users. But the return on investment is far more doubtful. In-store advertising targets an audience who is almost definitely looking to buy.
Use Internet advertising to attract a different set of customers, who are looking around and might click and might buy. So spend less on that. In-store awareness building will attract premium shoppers.
Just because you are using in-store physical advertising doesn’t mean, of course, that you shouldn’t take every twenty-first-century advantage you can get. Digital displays (including the expensive but fascinating customizable ones) can be a big boost to your advertising.
Primary Keyword: in-store advertising
LSI Keywords: internet advertising, in-store physical advertising, in-store advertising return on investment, return on investment with brand loyalty.