As we have said before, brand-to-retailer marketing can’t be successful without the willing participation of the retailer. To ensure that retailers get the most out of your campaigns, it’s your job to find ways to engage and motivate them. However, before you can connect with your retailers, you need to understand their perspective.
According to research conducted by the U.S. Small Business Administration, owners of retail businesses tend to come from traditional households composed of married couples with children. The average age of retail business owners is approximately 50.3 years.
Retailers are more likely to use relevant technologies frequently, such as the Internet and social media, than the general population.
Retailers are very involved in the communities they serve. They are more likely to be interested in charity and community service than the rest of the population. In fact, studies have shown that retailers are 80 percent more likely to give to charitable causes than non-business owners.
According to the most recent economic outlook survey conducted by the PNC Financial Services Group, retail business owners are cautiously optimistic about the long-term future of the economy. Though hiring has slowed and sales are still recovering, retailers expect business to increase in the future. At this time, retailers are maintaining the same level of capital spending that they have in the past, but they plan to increase spending as the economy trends upward.
According to a recent survey conducted by Promoboxx and discussed in “Brand-To-Retailer Marketing Channel Insights,” retailers most prefer to use websites, paid online advertising and email marketing to promote their businesses. In fact, 90 percent of retailers believe that websites are an effective marketing channel, and nearly 70 percent of retailers surveyed believe that paid advertising and online marketing are effective. Retailers are willing to use social media, but they don’t believe it to be as effective as other marketing channels.
So what can we learn from all of these facts about retailers? First of all, it’s important to realize that the average retail business owner is middle-aged. Though research shows retailers to be interested in the Internet, middle-aged business owners may not be as tech-savvy as their younger counterparts. For this reason, retailers may need some extra guidance when implementing campaigns on newer marketing channels, such as social media. While retailers have admitted that they aren’t as comfortable with social media as they are with other channels, this doesn’t mean that they’re adverse to it. They just need additional support from brands.
Secondly, the idea that retailers are interested in the community can be used to your advantage when creating ad campaigns. By developing campaigns that are tied to charity or encourage community involvement, you can engage retailers and increase the likelihood of participation.
According to the PNC survey, 70 percent of retailers are planning to put more money into business investments in the next six months. This percentage is up 10 percent from the last survey, which indicates that more retailers will be willing to spend money on marketing. When retailers become more comfortable with increasing their capital output, brands can turn up the volume on their campaigns.
By getting to know your retailers, you can gain more insight into the most effective marketing strategies. You can also develop better methods for helping your retailers learn to implement your campaigns more successfully.
