Categorizing small, medium and large stores is key for retailers to provide each of their locations with the exact marketing materials they need. A store profiling database maintains a detailed profile of each location so marketers can create campaigns that have powerful impacts on the local market. Let’s look at the theme in greater detail.
E-commerce leverages store profiling
With the transition from offline to online, store profiling data bases have only increased their importance. Combined data on in-store and online consumers allows companies to gain a better understanding of strategies, tactics and materials to use at a local level.
In other words, store profiling is not only necessary to provide local stores with marketing materials that will be physically displayed, but also to segment and adapt global strategies to each particular market.
Better budget management
Knowing the characteristics of the local market makes it possible to create tailored marketing materials. Most importantly, it helps improve results and spare unnecessary costs. That applies to physical stores as well as to online stores. Global retailers still have to adapt their offers and products to local markets, so their marketing strategies and assets should also be created ad hoc. Store profiling saves the costs of distributing incorrect or unsuitable products or delivering campaigns at global scale. It also improves the chances of investing the budget in a much more effective way.
Promotions and sales
Delivering exactly what customers want in terms of products and marketing guarantees success and scalability. It also helps retain customers in the long term.
Store profiling helps refine the strategy, sell what local buyers want and offer sales and promotions able to impact customers in more effective ways, only when they are really relevant.
Why is store profiling beneficial?
Store profiling can help businesses to determine their strategy and create campaigns with a powerful impact on the local market.
Is store profiling good for budget management?
Yes it is. Profiling your business can help you know what exact materials and resources you need and minimize your costs.
What is store profiling?
Store profiling refers to the act of tracking the location, size and other characteristics of a retail store in order to leverage the information and create strong and efficient marketing campaigns.
How can marketers use store profiling?
They can leverage the data of a store profile in order to create better marketing strategies, improve budget management and create strong promotion campaigns.