Local store marketing (LSM), also known as "neighborhood marketing," or simply "local marketing," is a marketing strategy that targets consumers/customers within a radius around a physical location with marketing messages tailored to the local populace. Tactics can be varied but are differentiated by the localization of the marketing message. Often, local store marketing is employed by individual locations of a larger corporate entity - e.g. a franchise store rather than the franchisor - to supplement mass-market advertising campaigns. However, independent and regional retailers utilize the same strategy and tactics in their marketing efforts.

Techniques

Local store marketing includes a vast array of marketing tactics utilized by businesses everywhere. Some of these include promotion of business in a local

chamber of commerce A chamber of commerce, or board of trade, is a form of business network. For example, a local organization of businesses whose goal is to further the interests of businesses. Business owners in towns and cities form these local societies to ad ...

direct mail Advertising mail, also known as direct mail (by its senders), junk mail (by its recipients), mailshot or admail (North America), letterbox drop or letterboxing (Australia) is the delivery of advertising material to recipients of postal mail. The d ...

, issuing local

press release A press release is an official statement delivered to members of the news media for the purpose of providing information, creating an official statement, or making an announcement directed for public release. Press releases are also considere ...

s, hosting events,

sponsorships Sponsoring something (or someone) is the act of supporting an event, activity, person, or organization financially or through the provision of products or services. The individual or group that provides the support, similar to a benefactor, is k ...

, purchasing ad space in print, outdoor, or local television, etc.

Retailer vs Manufacturer

Local marketing can be studied from both the retailer and manufacturer perspectives. For the retailer, local marketing implies optimization of the store's marketing mixes both in-store and out of the store. For the manufacturer, local marketing involves optimizing a product's marketing mix at the store level.

In-store Marketing Tactics

In-store marketing varies depending upon the entity managing the marketing - the retailer and manufacturer have different vantage points and means at their disposal. Many in-store marketing tactics can be employed by either entity. * Good

customer service Customer service is the assistance and advice provided by a company to those people who buy or use its products or services. Each industry requires different levels of customer service, but in the end, the idea of a well-performed service is that ...

Loyalty cards A loyalty program is a marketing strategy designed to encourage customers to continue to shop at or use the services of a business associated with the program. Today, such programs cover most types of commerce, each having varying features and ...

* Hosting events *

Upsell Upselling is a sales technique where a seller invites the customer to purchase more expensive items, upgrades, or other add-ons to generate more revenue. While it usually involves marketing more profitable services or products, it can be simply exp ...

via package deals * Analyze traffic patterns * Educate customers * Seasonal displays * Review program * Referral program * Product placement * Sampling * In-store signage/ point-of-purchase *

Product design Product design as a verb is to create a new product to be sold by a business to its customers. A very broad coefficient and effective generation and development of ideas through a process that leads to new products. Thus, it is a major aspect of n ...

* Graphic elements * End-cap displays

Out-of-store Marketing Tactics

Out-of-store marketing incorporates most traditional marketing channels, albeit those focused on a local area. From joining local business organizations, sponsoring local sports teams,

co-marketing Co-marketing (Collaborate marketing) is a marketing practice where two companies cooperate with separate distribution channels, sometimes including profit sharing. It is frequently confused with co-promotion. Commensal (symbiotic) marketing Comme ...

with neighboring stores, and more.

Online Marketing Tactics

Online marketing is an affordable way for local retailers to communicate and promote their business. Free methods of which are getting online reviews, maintaining accurate hours on online directories and social platforms, communicating/engaging with followers via social media, email and sms marketing, search engine optimization and more. Paid online marketing can involve local search marketing, local social marketing, geo-targeting, beacons, and other tactics.

References

{{DEFAULTSORT:Local Store Marketing Retailing-related lists