Walmart is one of the biggest companies in the world that has over 8,500 stores in 15 different countries with 55 different company names. They are also considered the biggest retailer in the world and the largest grocery retailer in the United States. It is incredible to think of exactly how big this company is, but they couldn’t have gotten this big without the proper marketing strategies, so let’s go over some of their tactics and see if we can learn a thing or two.
The first thing anyone notices when going into a Walmart is the incredibly low prices they offer their products for. This in itself helps with their marketing strategy because everyone is always looking for the lowest price and it can usually be found at Walmart. Once someone sees an advertisement about the low prices and actually visits a store or their website, they will become a loyal customer since they will be able to find the best deals all year long.
Not all of us are going to be able to provide products and services at the lowest prices possible like Walmart does, but if you can’t seem to compete with your competition’s prices, try making your products or services a more quality purchase. By offering small additions to your customers purchase, it will give them that extra push to pay more. You can also brand your products as being superior to that of your competitors, giving consumers a reason to choose your company. If you end up promising them a superior product, make sure it is, because if your customers start to become unhappy, it will then become known that your company is unreliable.
One of the main things about Walmart is that they are extremely accessible, they have thousands of stores all around the world and if you don’t live near one, you could always use their internet store and buy from there. Being this accessible makes marketing to people much easier since the customer doesn’t need to work hard to do business with them. Customers are also able to contact them 24 hours a day, which helps with the customer satisfaction aspect of the whole business.
Every business can become to accessible, even if you only have an internet store. Being accessible doesn’t really mean customers can physically visit you, it just means that no matter what they have a way to do business with you and contact your company. If you own a physical store and can’t stay open 24 hours a day, give your customers an option to place an order for a particular item through your website and also give them good contact information so they can either talk to a live person or leave a message to get contacted at a later time.
This will help your marketing efforts because no matter what if someone is interested in doing business with you, they always have a way to do it. The last thing you want is for someone to see your advertisement and try to contact you, only to be unsuccessful and move to the next company.
Appeal to As Many People as Possible
Walmart offers products of all types, from beauty products, home cleaning products, toys, electronics, to even groceries. Anyone could find something they have a use for there, which gives them a much broader appeal to all personality types.
Although most of us won’t be providing as many product types as Walmart, it is good to keep in mind that by expanding your business and putting new products or services for sale, you can increase your overall customer base. If you keep your company only focused on a certain type of product, you could be risking your business because if that product doesn’t sell, then you have no other product types to offer which results in a failed business.
Social Media Campaigns
All large companies, including Walmart, have focused a lot of resources on social media campaigns This is because it is one of the best types of marketing due to its consistent results. There are many different social media strategies that are out there, but the two that have proven to be the best would be blogging and video sharing and then linking those content posts with your social networking profiles. Video sharing sites such as YouTube, get millions of hits every day, so why not try to direct some of those people to your company? If you make a relevant and quality video that will appeal to your target audience and at the same time promote your products or services, you could see your revenues spike due to the amount of sales. We have all heard the term “going viral” which basically means a video is liked a lot and shared throughout the social networking community. It might be a little hard to get started if you’re not familiar with making videos, but once you get the hang of it you will notice great results. If you have a decent marketing budget, you could also hire a company to make the videos for you.
Blogging is going to be the other very successful way market and attract new consumers. The same strategy that is used for video sharing is the same for blogging. Make quality and relevant content that appeals to your target audience. Blogging is a much easier way to start out your social media marketing campaign because it doesn’t have to cost anything and it will introduce you to the whole idea. Starting a blog only takes a few minutes and you could be creating content in no time! Once you have gotten used to making the content you want to share, start posting links to them on all of your social networking profiles and you will start seeing more and more people becoming interested and interacting with your company.
SB writes for Make-a-web-site.com – Click here to learn how you can start your own website today.
Posted by Samon Bagons on 2:07 am, With 0 Reads, Filed under Economy. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.