Using store profiling to enhance POP strategy.
It’s the big moment! The customer is faced with a choice. Will they choose your product or a competitor’s? When it comes to an effective point-of-purchase (POP) strategy, how do you ensure you outsmart the competition every time?
One of the most powerful tools in a retailer’s armoury is store profiling. By collecting and analysing data about key retail locations, we help retailers build a picture of their unique characteristics, customer demographics and buying behaviours. Using insights generated by store profiling, we help retailers place themselves in a strong position to tailor their POP strategies, maximise the effectiveness of their marketing efforts and ultimately drive sales.
At Summit Creative, our store profiling service centres around three core components:
1. Data-driven decision making
Step one is to delve into the data. Store profiling should reveal valuable data insights which retailers can use to inform strategic decision-making processes. We start every profiling project with a store-specific analysis of sales performance, footfall, customer demographics, shopping patterns and buying habits.
2. Optimal merchandising
Once we understand a retailer’s environment, we analyse shop floor plans, traffic flow and customer behaviour. Keeping high-traffic and high-visibility areas top of mind, we identify the best locations for point of purchase materials which will both enhance a customer’s shopping experience and influence a purchasing decision. We also consider visually appealing and complementary pairings of products which will fit together logically in a customer’s mind and prompt impulse purchases.
3. Personalised customer engagement
A comprehensive store profiling project will inform pricing strategies and tailored promotions to run alongside POP activity. The third element of our store profiling process uses insights to shape engagement strategies. Based on the demographic and psychographic profiles of customers at each store, we propose targeted marketing messages, bespoke recommendations and relevant offers which we know will provide customers with a compelling reason to make a purchase.
At Summit Creative, we absolutely love talking about store profiling.
For help, advice, or just a virtual coffee with a POP-lover, get in touch.
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