Brick-and-mortar businesses, also known as physical stores or retail establishments, are businesses that have physical storefronts where customers can shop in person. Even though online stores have seemingly taken over, many brick-and-mortar stores are still going strong. This is because brick-and-mortar businesses contribute to the local economy by providing jobs, generating tax revenue, and supporting other local businesses through supply chain relationships.
Reasons Why Brick-And-Mortar Businesses Are Still Thriving
Brick-and-mortar stores are important for the community. Physical stores can serve as gathering places and contribute to a sense of community. They can provide a place for people to meet, socialize, and connect with others in their neighborhood. Such stores offer personalized services that you just can’t get from eCommerce platforms. Many brick-and-mortar businesses offer individualized attention, which can be beneficial for customers seeking help or advice. You can see, touch, and try out products before making a purchase.
Here are some additional reasons brick-and-mortar stores are still thriving:
Shopping experience: For some customers, the shopping experience itself can be enjoyable and fulfilling, and physical stores offer the opportunity to browse and discover new products in person.
Impulse purchases: Physical stores can also be conducive to impulse purchases, as customers may be more likely to make a purchase on the spot if they can see and touch it.
E-commerce limitations: While e-commerce has grown significantly in recent years, it still has some limitations, such as shipping delays or the need to pay for returns. Physical stores allow customers to take their purchases home with them immediately.
Most importantly, brick-and-mortar businesses provide competition for online retailers, helping keep prices competitive and drive innovation. As you can see, brick-and-mortar businesses still offer many economical, social, and competitive advantages to the community. But many people fear venturing into this type of business. They can be expensive to set up and maintain. However, with the right advice, technology, innovation, and guidance, brick-and-mortar businesses can be highly successful ventures.
That is why Brick N’ Mortar teaches entrepreneurs to create sustainable long-lasting businesses. Their mission is to take away the complexity of starting brick-and-mortar stores, through digital courses and one-on-one consultations.
Best Traditional ways to market a Brick-and-Mortar Business
There is a reason why brick-and-mortar stores are so successful and it often boils down to how good traditional marketing is. Traditional marketing is more personalized and often invokes emotions that spur someone to make a purchase. Even though digital marketing presents a better way to monitor ROIs, and is cheaper and more convenient, if you want to run a successful brick-and-mortar store, using traditional marketing strategies can prove just as successful.
For one, hosting in-store events, such as product demonstrations, workshops, or customer appreciation days, can be a great way to attract foot traffic and generate buzz about your business. The social buzz often leads to a better connection with your potential clients. You can follow this up by offering in-store promotions or discounts as well. This way, you can use the event to drive foot traffic and the promotions to drive sales. Finally, offering a customer loyalty program or rewards program can encourage repeat business and build customer loyalty. It is always easier to maintain a customer than acquire a new one.
Even though print advertising can be expensive, it is still effective. Conventionally, when someone talks about print advertising, they are referring to ads in local newspapers, magazines, or billboards which are effective but expensive. However, print ads also include flyers or brochures distributed in the community. These are cheap print ads that every brick-and-mortar store should embarrass.
Networking with other local businesses and organizations can help build connections and partnerships. This can potentially lead to referrals or cross-promotional opportunities. Utilizing public relations strategies, such as press releases or media pitches, can help to generate coverage for your business in local or regional media outlets. Investing in high-quality storefront signage and window displays can help to attract attention and draw in customers.
How To Market A Brick-And-Mortar Online
Today, digital marketing offers an affordable and convenient way to market your business. It has leveled the marketing playing field so that even smaller businesses can compete with industry leaders. Digital marketing is not just for online stores. In fact, digital marketing gives an edge to brick-and-mortar stores even though they are physical businesses.
So how do you take advantage of digital marketing in a brick-and-mortar business setup?
Website: The first step is always to have a well-designed professional website. This can help to establish your business as a credible and trustworthy source of information and products. Having a storefront and a good website can increase your trust score even further in the community.
Social media: Utilizing social media platforms, such as Facebook, Instagram, and Twitter, can help to engage with customers and build a loyal following. Social media is a great way to interact with the community and connect with them on a deeper level. You can use such platforms to gather feedback and learn how best to improve your business.
Email marketing: Building an email list and sending regular newsletters or promotional emails can be an effective way to reach customers and promote special offers or events. Email marketing is still one of the most effective ways to market products. It helps keep your business top-of-mind and reminds your clients about what you offer.
Google My Business: Claim and optimize your business’s listing on Google My Business. This can help improve your visibility in search results and provide customers with important information such as your location, hours, and contact details. Today more people are looking for local businesses, i.e, brick-and-mortar stores. By ranking higher in your local SERPs, you have a better chance of attracting clients as opposed to entrepreneurs who only have an eCommerce platform.
Online advertising: Online advertising can include pay-per-click ads, display ads, or sponsored content on platforms such as Google AdWords, Facebook, or Instagram. Online advertising is often cheaper, but more importantly, it offers better RIO. You can track your expenses, see who viewed and clicked on your ads, and adjust your strategy.
Contrary to popular belief, brick-and-mortar businesses are not becoming outdated. In fact, there is a greater need for them. This is evident from the fact that local search has become more popular today and Google is heavily pushing it. By implementing a mix of traditional and digital marketing strategies, you can effectively market your brick-and-mortar business and reach a wider audience.