Thursday, 28th February 2019 | Sales,Marketing
Increase your average receipt with POP sales
Point-of-purchase sales, coupled with compelling displays and meaningful marketing, have the power to increase revenues. Here’s how to make POP offers work for your business.
Point of purchase sales are 'POP-ping' up everywhere. Commonly referred to as POP sales, you’ll recognize them as physical displays located at the check-out in retail stores and restaurants, and as last-minute electronic offers that online retailers tempt you with upon check out.
Is there more you can do with your POP sales?
Whether it’s an eye-catching display for the newest lipstick or chocolate bar in-store, or an upsell on insurance when booking a car rental online, point of purchase sales present a win-win situation for both buyers and sellers alike. For buyers, a POP display or offer can be a helpful reminder that they forgot to add a necessary item to their cart. For the seller, these POP sales can quickly add up (regardless of price) to increase the average revenue on each receipt.
Below, we dive into the benefits of POP sales for you as the seller, and the best practices for creating an effective point-of-purchase system that will increase your sales.
The retail benefits of point-of-purchase displays and marketing
Connect with your customers at a crucial time. Whether buyers are browsing in-store or online, they’re likely bombarded with products and messages at every turn (or click). There’s only so much information they can absorb. But, the check-out presents a critical moment when they’re in a purchasing mindset. That’s why POP displays work so well in increasing sales: retailers connect with customers when there’s less overwhelm from other products at the exact moment when they’re ready to buy.
Versatile POP displays enable you to change thing up. For in-store displays, many retailers are taking advantage of modern, digital printing to change up their POP sales. Smaller print runs and custom designs means you can conduct A/B testing to see what works (and what doesn’t) and revise your POP displays accordingly. For online retailers, flexibility in POP sales are often limitless and simply require new images and small tweaks in back-end website coding.
Point of purchase systems are relatively affordable. Creating an online POP sale doesn’t typically require any additional investment as a retailer. While custom, in-store displays and offers will require an initial investment to create the marketing materials, retailers such as pharmacies, hardware stores and cafés can create permanent in-store fixtures as a one-time investment. Then, they simply swap out the products depending on the season or demand.
Best practices for profiting from POP systems
Command attention with your POP display. If your point of purchase is a crowded one, your POP display or offer needs to be eye-catching to stand out. Focus on implementing bright, bold colours and large fonts. If a point-of-purchase offer blends in with the rest of your retail space (or online store), it’s likely that buyers will breeze past it.
Offer additional value. Everyone loves a good deal. You can further intrigue buyers with a POP offer by giving them additional incentives. This is a common tactic used by online retailers where last-minute items are offered at a discount upon check-out. Consider how airlines offer you a deal on travel insurance with your airfare, which is significantly cheaper than purchasing the insurance on its own later. Discounts, coupons and other offers like these help to increase a buyer’s desire and convert more of your POP offers into sales.
Add digital intrigue. Adding a digital element to your POP sale can enhance its intrigue; bonus points if it’s interactive. Instead of playing a video on repeat, consider a brief interactive quiz for your customers that customizes their product offering. Or, an entry screen where they can input their email address to receive future discounts from you, but also rewards them with a coupon that they can redeem on the spot.
Use clear and concise messaging. Whether you maintain an e-store or physical location, compelling messages are essential. And, since many buyers hurry through a check-out, your marketing needs to focus on only a few words. Do your best to say more with less; consider using five to seven words to sell. Today’s shoppers are savvy and have more pre-purchase information than ever before. So, detailing every single product feature isn’t usually necessary for these last-minute POP offers.
Measure your point of purchase effectiveness. As simple as it can be to implement a POP display, it may not have effectiveness year round. Key to implementing POP systems is measuring your return, and knowing when (and how) to use it to drive further sales. Keep in mind that there’s a fine balance between driving additional sales at the check-out and driving buyers away entirely with overly pushy tactics at the point of purchase.
Point-of-purchase systems, coupled with compelling displays and meaningful marketing, have the power to drive each individual sale higher. No matter what type of business you have, POP sales tactics like these could increase the value of each receipt with minimal investment on your part. Consider the benefits and best practices mentioned above to tack on additional sales to each buyer at that critical moment of purchase.
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