Many business owners have the notion that marketing ends once the consumer is in your store. Having this belief is a huge mistake that can affect your sales. Most efforts in marketing are aimed to help a prospective customer evaluate service options or products offered, understand the provided solutions to a particular problem and decide to make the purchase. The methodology varies between earning a consumer’s attention as part of the strategy to build a bigger audience for your brand. However, each of them have similar goals which are to inform, educate and persuade customers to buy your product.
However, the point of purchase marketing works differently. The strategy aims at marketing your product to consumers who are already in your store and are ready and willing to buy your product. This provides a last-minute solution of influencing the decision making of consumers by retailers.
Where to deploy your point of Purchase strategy
When many people hear the term “point of purchase,” they are likely to come up with images of where the consumer goes to buy a specific product or service and make the payment. A business owner can boost his/her sales by placing small, relevant and inexpensive items on the counter where the customer can see them. You can also increase commerce by using the PoP displays of such things to create a place where the consumer can queue or relax while they wait to check out. Stores such as TJ Maxx, Marshall’s, Victoria’s Secret and Nordstrom Rack make use of physical displays in a path where the buyer winds down as they check out. These stores place these items that are quite cheap as compared to the rest of the inventory in the store.
There are a few reasons why the point of purchase technique of marketing can work of any business. They include:
The consumer has already decided to buy a product or service, and it makes them want to buy an additional item. This is mainly when the added commodity does not significantly increase the total price.
• You can turn a shopping experience that sometimes may be boring due to long wait time’s check out queues into an extended shopping exercise. The way you display your products may end up making the consumer interested and engaged as they wait to be served. This way, the customer maintains his need to buy the product and reduces the probability that they may walk away empty-handed.
• Adding products to your shops’ display that are highly relevant to your customers may lead to impulse buying. It can also serve as a reminder to consumers that you offer that product and that they can visit your business whenever they need to make a purchase.
The point of purchase for the retailer represents the place and time at which all the elements involved in the sale of products come together. These are the product, money and the consumer. By using various modes of marketing communication vehicles, you can influence the decision of the consumer on what more they can buy. This mode of marketing includes sales promotions, packaging, displays and in-store advertising.