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. This way, marketers are able to create campaigns that have strong impacts in the local market. Curious? Keep reading and find out how this can help retailers optimize their business.
E-commerce leverages store profiling
With the transition from offline to online, store profiling data bases have only increased their importance. Data about consumers and in-store activity combined allow companies to gain a better understanding of strategies, tactics and materials that they can use at local level.
In other words: store profiling is not only necessary to provide local stores with marketing materials that will be physically displayed, for instance, but 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 specific, 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 the local markets. Therefore, their marketing strategies and assets should also be created ad hoc. Store profiling saves the costs of distributing wrong products or campaigns at global scale. This means that it also improves the chances of investing the budget in a much more effective way.
Promotions and sales
Delivering exactly what the 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 big impact in 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.