5 Common Mistakes Made by Retail Marketers

5 Common Mistakes Made by Retail Marketers

Summary:

Staying up to date on the changes in the retail market can be a daunting task. Here are 5 mistakes you could be making in your marketing.

In today’s day and age, a lot of digital marketing is driven by the guess and check approach. As consumer behavior, trends, and preferences rapidly change, retail marketers are often stuck trying to catch up, sinking thousands of dollars in the process. The key to maximizing marketing spend is rooted in spending time doing research and getting clear on both your company’s objectives as well as what is working in the market. Without a clear plan of action, retail marketers are bound to create campaigns that at best are misaligned to their brand and at worse will fail miserably. 

Here are the five common mistakes retail marketers are making now.

Wasting money on branding to build awareness.

This is not to say that brand awareness is not important, however, the goal of marketing should be in converting sales. Many times retail marketers spend so much time trying to convince consumers that they are better than their competitors without truly highlighting the key benefits that their products or services offer. While branding may be important as a long term strategy, consumers want to know what is in it for them and without these woven consistently in your marketing messaging, then you are missing out on a chance to gain a new (and loyal) customer.

Tracking the wrong marketing metrics.

Vanity metrics like social media likes, page clicks, and website traffic can be misleading for health marketers looking to understand what is working to convert sales. This is why tracking numbers like cost per sale and new customer acquisition costs are more important data points that will shed light on how well your marketing engine is running in comparison to the sales your campaigns are generating.

Not marketing for lifetime customers.

Though any sale is money in the bank, the goal for health marketers should be to increase the lifetime value of their customers. The best way to do this is to understand who your most loyal customers are and market to this specific customer avatar across all marketing platforms. Without doing this, their brands can quickly get caught up in the low cost sales game and attract a host of one-time, low-cart value customers as opposed to having a consistent flow of high value long-term customers who buy again and again.

Failing to consistently do A/B testing.

Every marketer is taught that testing is the way to optimize every marketing campaign. However, very few health marketers actually follow best practice. It’s critical to test all ads, landing pages, emails, even social media posts to determine which messaging, graphics, and layouts perform best and how you can continue to improve their conversions. If you don’t take the time to test your campaigns, you’ll never know if you’re leaving money on the table.

Undervaluing the sales power of landing pages.

Many times in marketing, the landing page is one of the last marketing components to be created. Which is why they are often very hard to navigate. A poorly designed and thought through landing page will leave customers extremely confused. And, we know that a confused customer is a customer that is not likely to buy. Retail marketers must be as intentional with their landing pages in the same way they are with all other components of their marketing campaigns. Landing pages can be very robust sales engines (when done right) and are often a customer’s first impression of who your brand is and what you have to offer.

With consumers being more informed and skeptical to try new brands than ever before, making sure you’re avoiding these five mistakes could mean the difference between having a pool of new leads or not generating a single sale. It’s important for health marketers to know their ideal audiences and tailor marketing campaigns and assets to speak directly to these segments. 

If having expert retail marketing support to design engaging and high-converting campaigns would benefit your company, reach out and let’s connect.

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