In recent months, the term “pop-up shop” has become very popular. As a number of ecommerce and brick and mortar retailers find success utilizing this unique strategy, more and more businesses are considering the possibility of hosting their own pop-up events and flash sales. However, it’s not as simple as it looks. If you want to have a successful pop-up sale, you need a strategy.
What is a Pop-Up Shop?
Pop-up shops are essentially mobile extensions of your business that randomly “pop up” in different locations in your area. They allow you to interact with your customers in a new light, and often expose your brand to people who have otherwise never heard of you. Pop-up shops might last an hour or two, or they may stick around for a few weeks or months. This versatile nature makes them ideal for brands with some marketing flexibility.
5 Tips for a Successful Pop-Up Shop
Okay, so pop-up shops sound great. But how do you run a successful one that’s worth your time and money? Well, keep the following tips in mind and you’ll do just fine:
1. Have Clear Goals
“Like any business venture or project, you should have clear, reasonable, and measurable goals for your pop-up shop,” writes Armando Roggio of Practical Ecommerce. If you want to sell 500 units of a certain product, you need a plan for how you’re going to sell each unit. If your goal is to interact with 100 new leads, then you’ll need a strategy for making this happen. Specific goals will guide the planning process.
2. Invest in PR and Marketing
While bystanders will inevitably happen upon your pop-up shop, the majority of your customers will show up as a result of your PR and marketing efforts. Start slowly releasing information in the weeks leading up to the event, and then really ramp things up in the 24 hours leading up to the shop.
3. Use the Right POS System
A pop-up shop can look the part, but does it act the part? In other words, just attracting people isn’t enough. You must be able to monetize your efforts. This requires a POS system that’s efficient and accurate. Thankfully, you no longer have to haul around a clunky cash register.
Thanks to advances in POS technology, mobile solutions now exist that allow for quick, effortless transactions. By using the right solution, you can spend more time interacting with customers and less time punching keys and printing receipts. The benefits are endless.
4. Focus on Impulse Buys
People typically show up to pop-up shops ready to open their wallets. As mentioned, unless you happen to attract a random person who in the neighborhood, most of your customers will intentionally stop by after hearing about the event via marketing, advertising, or word of mouth – meaning they’re prepared to buy.
In order to maximize sales, focus on impulse buys. Stock your pop-up shop with lower cost items that scream, “buy me!” These can easily be tacked onto purchases to increase the average transaction size.
5. Choose the Appropriate Location
When it comes to a pop-up shop, location is very important. You want to show up somewhere that’s easily accessible and recognizable. In the end, location can be the deciding factor in whether or not your shop is a success. You know your market better than most, so spend time brainstorming possible locations and don’t be afraid to get creative.
Have a Plan
If you’re going to host a pop-up shop, you need to have a plan. While you may have attended one in the past and assumed it was simple, running a successful show is far from easy. It requires patience, diligence, and lots of planning. If you’re willing to put in the work, though, pop-up shops are typically very lucrative.
from Darlene Milligan http://ift.tt/1PAzfte via transformational marketing
from Tumblr http://ift.tt/1QUT01e
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