Tips for Brick-and-Mortar Retailers to Improve Revenue Amidst COVID-19
Jan 11, 2021
Jan 11, 2021
10 min read
10 min read
Table of contents
- The effects of COVID-19 on the retail sector
- Tips for improving revenue amidst COVID-19
- Here are some of the tips that you can use in order to improve revenue amidst COVID-19
- Increase customer engagement via various mediums
- Leveraging social media
- Gift cards
- Enhance your digital presence by structuring your messages
- Working on shipping cost
- The NEED to move online
The arrival of COVID-19 has made all the predictions regarding 2020 go astray. All the businesses that were expecting growth and profit during 2020 have to come up with new survival strategies since COVID-19 has changed many things for most of the industries. You will be surprised to know that about 60% of the businesses from all over the world have been closed because of COVID-19 and this number is going to keep on increasing.
Although each and every type of industry has been affected because of COVID-19, the one particular sector that has been affected the most because of the arrival of the virus is the retail sector or what people call as brick and mortar retailers. If you are running a similar kind of store and finding it difficult to keep your business alive then it's high time to come up with new strategies in order to improve revenues.
The year 2020 might have turned out to be a big opportunity for online businesses but the same year has turned out to be a nightmare for brick and mortar retailers. But in order to make things easy for you, in this blog post, we will not only discuss possible solutions for retail stores to improve their revenue but also go through the current situations and look at the most common issues.
The effects of COVID-19 on the retail sector
When the dust will settle and COVID-19 will be gone completely, a new normal will arrive in the market and this new normal will include drastically changed human behavior and habits. One such change in human behavior and habit will be a shift from impulse buying to planned purchase. Window shopping will keep on decreasing and this will lead to reduced sales in retail shops.
Another trend that you will see on the rise is crisis spending where customers will be restricted to purchase only essential products because of the economic slowdown. The crisis spending will continue to be a part of the consumer habit even after the end of the virus.
Another change that we are currently encountering is focused on individualism. For example, you will see that there is a sudden decrease in the demand for group items since gathering is being completely avoided.
Tips for improving revenue amidst COVID-19
Just because the current situation is tough and you will have to go through many changes, this doesn’t mean that you should also belong to the 60% of the business mentioned at the outset of the article. There are many retail shops out there that are still surviving and making improvements to their overall revenue.
Source: Unsplash
Here are some of the tips that you can use in order to improve revenue amidst COVID-19
Increase customer engagement via various mediums
If you are running a retail store then you must be aware of the fact that only 20% of your customers produce 80% of your revenue. Since these customers will always remain important for the survival and growth of your business, it is crucial for you to pay special attention to these customers, especially during the current situation. The loyalty of these customers will keep your retail store alive during the pandemic and this is why you can’t ignore them.
Whether it is emails, blogs, articles, or newsletters, you will have to use all the mediums possible in order to stay connected with these customers as they should be your main focus, especially when you are struggling to survive. If you succeed in illustrating that you are there for your loyal customers during a tough time, you will be able to nurture your loyal customers. Identify your loyal customers and start making changes to your current strategy.
You can follow down on the path of focusing your investment towards marketing efforts and build a presence online. This will help your customers connect with you more easily and you will be able to boost engagement. It will also help you target new customers who are looking for viable options. Localizing your digital marketing strategies will enhance the chances of people finding you and it will eventually bring in business.
Leveraging social media
Social media engagement has increased multifold over this past year. If you own a brick and mortar retail business, it becomes essential for you to garner an audience for yourself. You can also leverage the platforms in educating the masses about latest trends that you follow or the sanitization process you use to keep you customers safe and whatnot. If you are having trouble bringing in business, do not get disheartened and work towards building a brand. You need to think long-term and set up a digital base for yourself. No matter how local your brand is, you would need to establish a presence digitally to survive what this pandemic has brought on you.
Gift cards
This might look like a marketing tip from the 90s but you should know that it works really well even during the current situation. Gift cards provide all the different types of retailers with an immediate injection of cash and in addition to this, it also improves repeat purchases among customers as well. You should know that gift cards are an amazing way to stay in front of the audience and it can also be helpful in acquiring new customers as well. Even during the current situation, you can easily send digital gift cards to all your customers and make them feel special. But your digital gift cards shouldn’t be limited to your customers only as you can use them even for your prospects.
Enhance your digital presence by structuring your messages
The importance of messaging has increased by many folds just because of the current situation. All the firms out there now need to be more sensitive when it comes down to customer’s needs and this can only be done when firms will start reworking their marketing and advertising strategies.
If you were running a campaign that included the gathering of people, you will need to make some changes to those campaigns as you will need to show the reality of the current situation through your marketing campaigns. You can’t keep using the same marketing campaign if it doesn’t fit according to the current situation.
But this doesn’t mean that you will have to completely change your core branding message as all that you will need to do is to make sure that your campaigns fit like a glove in the current situation. Instead of being opportunistic, you will have to stay authentic during these tough times. Common and regular mistakes in your marketing campaign will mean that customers are less likely to interact with your company. This would be the best time to invest in making your marketing efforts more aligned. You can even get your digital marketing outsourced to save up on the extra expenditure.
Working on shipping cost
If you are planning for any type of cost-cutting then you should consider your shipping department for such a purpose. If possible, you should start looking for fulfilling your orders manually and you should never forget including local shipping features.
If the customers that you are serving are close to your firm then you can offer them a local delivery option in which the local rates will be applied to selected zones. You will have to align the shipping cost according to the current situation.
The NEED to move online
You should know that because of the shift in consumer behavior during the lockdown, most of the consumers have moved online to purchase goods. There are many countries out there that are still going in for a lockdown because of the second wave of the coronavirus and this will further fuel the growth of online usage.
Even people who restricted digital platforms in the past are now moving to it because they have no other options. When the dust settles, people will get into the new normal, the usage of the online platform will keep on increasing.
Because of this you will have to shift to the online platform and it doesn't mean complete closure of your brick and mortar shop, it just means having another platform for the consumers to buy your goods.
You can simply start by choosing a website developing company and get your website built in a professional manner. There are maximum chances that the website developing company may provide SEO services through which you will be able to rank up in the search results and this will further boost your digital presence. Soon after the shift to the digital platform, you will witness a robust growth in your revenue.
Get ready for the new normal because even after the end of the pandemic as consumer behavior and habit will continue to evolve. Now, if you are ready to step ahead and evolve with them, connect with Saffron Edge now!
How Can Lawyers Rank High On Google SERPs?
What Is SERP? SERP or Search Engine Result Page is the landing webpage where the customer arrives after entering a search engine, like Google, Yahoo, or Bing. These pages include the relevant searched websites that can be organic content and paid or sponsored content. However, their ranking depends upon the relevance of the content and keyword choice. There are over a billion daily searches on Google, and 15% of these daily searches are fresh! Therefore, ranking on top of Google search engine result pages is one of the prime objectives of every online business to achieve a higher rank within their competitive streak. Every SERP is unique as it displays websites, ads, and brands related to the searched keyword. Based on the searched keyword, the search engine generates relevant results. For example, suppose a search query includes a keyword related to a construction firm. In that case, Google will set forth a search engine result page that lists different websites of construction firms ranked systematically. Therefore, to achieve a greater feat in the market, businesses use various legal marketing tactics and align them as per the latest Google algorithm, and optimizing SERP is one of them. A higher rank on the result pages usually happens when the website’s content is relevant, and the keyword matches the customer’s search query. Since SERP incorporates the organic and paid results, there is always something extra that a business firm can do to make it up to the customer’s search engine result pages. There are quite a few factors that affect the SERP, such as the physical location of the user, browsing history, etc. These elements are responsible for the appearance of a SERP, based on which a customer’s online experience is conceived. Since Google uses its quality parameters to rank your website on a result page, it ensures that along with the keyword relevancy, the websites should have quality content, credible backlinks, and maximum responsiveness for a customer. Like them, every other parameter enables your website to get ranked on the SERP and be visible to the customer. SERPs are equally crucial for a lawyer to attract potential clients and increase the conversion rate. Failing to find your law firm’s website would instead help your competitors gain the customer’s trust, so it is essential to strive hard and make your website listed on the first result page. Tips To Rank Higher On Google Running an online law firm is a task in itself - finding the right people that require your legal assistance and your continuous quest to render services for client conversion. With the revulution of the internet facilities, the competition now does not confine to just offline lawyers. A lawyer, at this time, competes with other digital contenders to earn a spot on Google search results so that they can earn. The fullowing are a few ways how your law firm can rank higher. Source - Pixabay Make The Most Of Keywords It is proven that keywords are the real deal for any website to appear on the top of the search results for a customer. The first and foremost way to rank higher on Google SERPs is to take advantage of the relevant and targeted keywords that impact your digital advertising. A search engine result page often showcases websites with the most relevant keywords included in their content. One can achieve it with the help of online marketing touls that help you plan your keywords based on your target audience. For example, being a law firm, you can opt for the most searched and used legal keywords like a criminal defense attorney, lemon law lawyers, insurance claim, etc. You also need to ensure that your keywords relate to a hiring intent, so when your prospective clients enter a relevant keyword, you’ll be indicated that they require a legal service. Generating Quality Content and Media Text information, video, and media files together form the content of any website. Since every website diligently strives to provide information-rich content to its customers, you can too make use of the right words and let your content drive in customers. Along with that, including videos on your website is a powerful way to represent your law firm’s objectives. It is observed that most customers often prefer watching videos to get a better perspective of the quality of the service they’ll receive. Your law firm could also incorporate videos depicting various services that you provide and educate them about the benefits they associate with you. These actions significantly impact the customer’s search query and a higher probability for you to obtain conversions. Superior Backlinks and Citations Adding quality hyperlinks is a way to ensure that whether your target customer reaches on another website, they are redirected to your platform with the help of a hyperlink. These links are responsible for bringing much relevance to your website, as linking with credible websites enhances your brand image. For example, a link to your legal website, which is found on a highly trusted website, usually makes you look good in the eyes of Google. Citations include your business name, physical address, and contact numbers on other websites to ensure that you get maximum visibility from across the web. It can be done by listing yourself in various online directories. For example, as a lawyer, you can set up a Google My Business account and enter relevant details to improve your ranks on Google SERPs. Fullowing Social Media Trends Adhering to social media trends is also a great way to boost your brand’s visibility across the web. By 2025, almost 73% of internet users will use the internet on their smartphones. Most of the users are inter-connected across various social media platforms such as Facebook, Linkedin, etc. It allows a lawyer to create a media account and lists it on the web to acquire online exposure. Online marketing via social media platforms significantly increases customer engagement and informs the local audience about your services. You can also go along with trending ads and boost your content or videos to influence your target groups accordingly. Customer Reviews and Tracking Online Performance Another essential element of getting a higher rank on result pages is “Customer Reviews.” Positive and purposeful reviews about your services are a critical factor that helps you to surpass your market competition. Since you render legal services, your target customers will review the quality of your service, satisfaction level, and insights about you as a brand. Google uses this cullection of reviews to place your name at a higher rank on search engine result pages. Once everything is done, the final step is to track the rankings of your business and analyze the factors to achieve optimal performance. For example, you can fullow the relevancy of your keywords, incoming customer traffic, or conversion rates for a set period. Source - Unsplash Setting up so many things could be daunting, and especially when you need to make sure you invest with the right resources. Saffron Edge is your one-stop-shop for your online marketing guide and will provide an enhanced level of sulution services. We aim at providing intuitive services to transform your business and aspire to be your success catalyst. For more information about our various services, visit our website today! ...
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How Hubspot Platform Is Changing Inbound Marketing Spectrum
With the push in the digital marketing industry, more and more technologies are coming into scene with the aim to revolutionize the system tremendously. Hubspot happens to be one of the modern day revolutionary change to look up to when the topic of content marketing is brought into discussion. More like Wordpress, Hubspot is a super invent, HubSpot is a company based in Cambridge, Massachusetts and it is focused on developing the market and materials that makes online marketing development easier and possible. There are several products from the HubSpot platform and specially, an uncommon software product for inbound marketing labeled “HubSpot”. Which resonates it’s functionality in a more likely way as the WordPress content management system. If you’re an employable marketer with eyes on attaining a rapid result in marketing, then HubSpot is a recommendable platform to kickstart your inbound marketing journey. Below are some indispensable reasons why you should tap into the vast benefits that lies waiting in Hubspot content optimization system. Comprehensive Content Conventional Content Management Systems pick up fame for permitting clients to effectively oversee and overhaul the contents on their site. Hubspot content optimization system makes it one stride further by conveying focused content to a select category of audience. Smart content is designed in view of either the buyer’s trip lifecycle stage or contact list. Rather than developing bland content coordinated at an expansive group of readers. It’s easier and practical; just create and publish well-curated contents with a specific tone of language and directed at your readers, both the new and old with regard to their various needs. This progressive methodology will give you another attitude toward your content system. Customized Design If you fall into the category of marketers with no design background, then Hubspot content optimization system is best for you. It permits users to make their site with a custom format designer. Users are also administered a finished opportunity to control the formats structure outline and design anyway they'd like. The format developer incorporates move and customize usefulness to totally tweak the design of the page, while the style principal permits text style, shading, style changes and more while never touching the CSS template. For those with coding knowledge, HubSpot gives you added privilege to change formats as you'd like. Responsive Design If you’re opportune to be a marketer with insight in latest trend and technology, you've presumably known about website’s responsive design. Studies show that approx 60% of web users are getting to sites from their tablets, cell phones or other smaller computing devices. As website users are spontaneously taking to this practice, it is very recommendable for you to improve on your sites appearance and smartness. Creating a website that will be easily accessed from all platforms without minor web content dislocation. With HubSpot content management system, you already have a very responsive website, rather than physically coding the site to empower responsiveness, it consequently does it for you. With little CSS and HTML information, you can make a totally custom portable rendition of your site. ...
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How Can 'Virtual Try-on' Help You Get More Eyes on Your Business?
Virtual Try-on - the next big thing in the eCommerce business world. It enables customers to try on your products using their camera-equipped devices. Let's know how this bleeding edge technology can leverage your business. Over 53% of consumers say they are more likely to purchase from companies that provide augmented and virtual reality experiences. It's an undeniable reality that people spend more time looking at their phones and computers than at print ads or stores. In a nutshell, the key to success is putting your brand onto the consumers' rectangle displays. Let's put aside the what, and the how for now and go more deeply into the topic of WHY. Here's a rundown of why augmented and virtual reality experiences are so important right now: By 2030, the metaverse will have adopted AR and VR effects, which are predicted to boost consumption by 10%. Engagement with augmented reality try-on and filters may reach astounding heights (up to 90%). The reasons go on and on, but the bottom line is that augmented reality is crucial to the continued existence of high-end companies in today's hyper-digitized environment. Check out the guide below to learn about the evolving fashion business and its potential in the metaverse. What Is Virtual Try-On? Customers may virtually try on items like apparel, jewelry, and makeup using their mobile devices - all thanks to a virtual try-on option available on many shopping apps and websites. The concept of augmented reality, in which digital information is superimposed over a user's view of the environment using a mobile device's camera. To put it another way, virtual try-on technology allows consumers to "try on" garments using an avatar before actually purchasing them. The term "virtual try-on" refers to the process of virtually trying on a piece of clothing or an accessory that was digitally created. That way, you can tell if an item will fit without actually trying it on by seeing how it appears on an avatar of yourself. Therefore, virtual try-on technology could make it possible to test out garments before purchasing them. These days many online retailers' sites and apps are providing virtual try-on options for their customers. And it is expected that more and more retailers and DTC brands will gradually adopt "Virtual try-on" options to improve their customers' experience. By 2025, the augmented reality market is expected to be worth $198 billion, up from $3.5 billion in 2017. When augmented reality is used in tandem with 3D body scanning, revolutionary strides may be made in the retail fashion industry. Virtual Try-On for E-commerce Brands The virtual try-on feature has several advantages, but one of the most significant is the improvement it may bring to the client experience. However, this feature can also serve as a useful tool for learning. In order to better serve your clients, you may monitor your sales data, analyze your product offerings, and adjust your promotional strategies accordingly. In the midst of the dynamic landscape, when people are increasingly purchasing online and approaching every personal interaction with trepidation, the virtual trial can help decrease the enormous expenses paid by the return of items. After the pandemic, there was a noticeable surge in online shopping, making a more quantitative e-commerce audit crucial. Insights on the Advantages of a Digital Fitting Room The use of augmented reality (AR) is increasing in popularity every day, mostly because of its availability on most modern computers and smartphones. Because of this, consumer demand for virtual try-on solutions is substantial and readily available. This is a fantastic chance for businesses to connect with their target audiences on their chosen channels. When it comes to advertising and sales, a virtual try-on may make a huge difference for businesses. Customers may get a realistic, individualized visual of a product in a matter of seconds with a virtual try-on, whether they use a smart mirror in a physical store or a specialized smartphone application. Customers can rapidly try hundreds of things, and they may even receive suggestions for additional purchases. As well as aiding your consumers in their purchasing decisions, a virtual try-on may provide a wealth of information. For instance, you may monitor which goods are selling well and modify your distribution to serve your clients' requirements better. At a time of worldwide pandemic when people are increasingly buying online and approaching every customer with a personalized experience, a virtual try-on may also help businesses save the enormous expenses that sometimes accrue due to the return of items. Even more so when shopping online, customers benefit greatly from being able to try on the product of their interest. Customers are more likely to make a purchase and be satisfied with it if they are confident in the product's ability to meet their needs. After receiving such treatment, clients are more inclined to return for future purchases. Industries Using AR Technology Successfully Several well-known sectors are using this technology. There is no limit to the number of industries and businesses that might benefit from a virtual try-on solution, including but not limited to the ones listed below. One common application of augmented reality technology is the ability to try on eyewear such as glasses and sunglasses virtually. Customers can save time and energy by using this technology to virtually try on eyeglasses and sunglasses from the convenience of their own homes before making a final purchase decision. The optical industry is being revolutionized by providing the customer with these options. In addition, virtual try-on technology has also been widely adopted in the clothing sector. How to Develop a Virtual try-on? Each brand's virtual try-on experience needs to be unique. It ought to be simple to navigate and show off things convincingly. Each client's virtual try-on experience should be customized to meet their unique requirements. But the fundamental stages of growth remain consistent no matter the context. To begin, you must have the ability to recognize a face in an image or video. Using a total of 99 facial points, you can be able to identify and follow the movements of human faces in real-time using advanced technology. This makes it such that the 'product of choice' follows the user's gaze in the same way a mirror does. All the user has to do is turn on the camera for it to start recording. Then, the items are meticulously displayed to their full potential Showing the features that are relevant to customers as accurately as feasible is crucial for this technology to be beneficial for customers and profitable for businesses. For example, initially, red lipstick may seem like a basic product, but consumers will notice the difference between the many red tones and the glossy vs. matte finish. To ensure your customer gets the most accurate detail of your products, it's essential to work on your products' technology and 3D model. Finally, the application must be created More and more companies are allowing customers to test things via mobile applications or on the company's website. With the apparent advantages of contactless testing and purchasing, virtual try-on solutions are also widely deployed on tablets or smart mirrors in actual stores. How Can You Benefit from Using Virtual Try-On for Your Company? The market is very competitive due to the rapid expansion of the online industry. Now, customers have tremendous leeway to reconsider their purchasing decision. That's why it's important to clarify the product's benefits to the buyer so they can make an informed buying decision. To minimize product returns, the retailer or brand needs to improve the in-store experience as closely as possible online. Keeping your system up to date with the newest technological developments is a certain method to give your organization a leg up on the competition. Since augmented reality and virtual try-on technologies are in high demand right now, adopting them might significantly impact your company's bottom line. What's Next for Virtual Try-on? If integrated into a larger company plan and able to support how you do business, virtual try-on may be a fantastic way to improve your customers' in-store and online shopping experiences. By allowing customers to try things out and providing guidance at uncertain times, they have the potential to become a standard pit stop along the customer journey. The virtual try-on feature can benefit your firm if you understand how to employ it, why you're employing it, and how to integrate it into your overall service strategy. The Next Big Thing in Virtual Shopping Experiences! 3D technology is crucial to winning over the next generation of customers. Innovative and flawless goods and excellent customer service are the keys to success, especially for fashion brands. Try-cutting-edge tools, like Virtual try-on, make shopping more exciting and satisfying for customers in the digital age. As a brand, your objective is to develop experiences that promote impact, visits, and higher revenue through virtual try-on. It helps your green initiatives along as an added advantage. In conclusion, you should immediately begin working on implementing a virtual-try-on function for your customers. Get in touch with our experts; we will brief you on how this bleeding-edge technology can lift the way you do business. We facilitate your customer experience by creating the best version of your products so your customers can virtually try them and may make a decision that goes in your favor. Contact us now! ...
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