Built to Suit the Retail Real Estate Industry You are signed in as  guest  
Sign in now  
Logout  
topnav
Home News Archive Editorial Features Retail Real Estate Marketplace Contact Us Subscription Info
Plain Talk    

Plain Talk Print Page




Capturing Lost Revenue Through Local Store Marketing
From The Buxton Co

In the current business climate, many executive teams are seeking ways to maximize revenue from existing resources – especially brick and mortar locations. Local store marketing can play a critical role in that initiative. Here’s why.

The Opportunity: Millions in Lost Revenue
How much revenue are retailers and restaurants failing to capture through their units? Our research shows that it may be more than you think.

Buxton recently compared the sales forecasts of a sample set of current clients to their actual performance, and found that on average they were leaving the following on the table:

Unmet Demand
*Forecast is above average unit volume but actual performance is lower than average

Capturing even a portion of unmet demand can make a meaningful impact on a company’s performance.

The Solution: Local Store Marketing
If your goal is to capture unmet demand across your network, where should you start? The first step is to drive traffic to your locations, which can be achieved through a local store marketing strategy.

Local store marketing involves executing custom marketing campaigns at the location level. It gives brands the opportunity to respond to the unique dynamics of each location’s trade area by considering factors such as competition, local events, and the profile of best prospective customers. It also gives brands the opportunity to go beyond loyalty program lists to reach new prospective customers.

While local store marketing is a sound business strategy, it has proven to be difficult to scale, which means it is often not executed fully. But today, companies can leverage local store marketing technology to empower their unit operators or franchisees to execute targeted, on-brand marketing campaigns across a variety of channels.

By involving your local operators, you ensure that campaigns are driven by professionals with in-depth knowledge of the trade area. You also free your corporate marketing department’s time to focus on developing resources that can benefit all locations.

The Bottom Line
Local store marketing plays a crucial role in driving foot traffic to capture lost revenue opportunities. By involving local operators, you can quickly scale your local store marketing efforts to make them both efficient and effective.




Buxton is the leading customer analytics firm that helps organizations identify who their customers are, where those customers are located, and the value those customers have to the organization.

2651 South Polaris Drive
Fort Worth, TX 76137
1-888-2BUXTON

buxtonco.com


Feature Articles

If you have an opinion on the retailing or retail real estate industries, take this opportunity to share your thoughts. Articles should run between 400 and 800 words. Topics can, be general in nature, consumer observation or specific to retail concepts or practices.

Articles will be posted for at least one week and will then be placed in the Editorial Archives. All articles submitted will be read and considered but we cannot guarantee publication. Each published article will carry the submitters byline (if desired) and is a free service to our community.

Article ideas and suggestions are also always welcomed. Contact PVS@PlainVanillaShell.com

   

  



Privacy Policy | Terms & Conditions | Contact | About Us