If you’re still clinging to the belief that storefronts are a thing of the past, then it’s time for a reality check. Brick and mortar stores are still an integral part of our society, especially for those who want a tangible experience before making a purchase. They are the source of a considerable about of revenues in the business world, and that’s not going ever to change.
If you’re struggling to turn profits, here’s your chance to fix what’s wrong with your store. Here are the keys to a successful brick and mortar business:
Build an Online Presence
It’s great if you have a consistent stream of customers coming in through your door, but it only takes one person taking a picture of your store and posting it on Facebook, Instagram, or Pinterest to expose your entire brand to the world.
The best way to build an online presence is to have a website that’s optimized for mobile devices so you can be found on search engines. However, it’s too late to rely on traditional SEO, so invest in paid advertising and pay-per-click campaigns. You can also promote your store through social media and word-of-mouth.
Incorporate a Social Media Strategy
It’s easy to spend all day on Facebook, but it’s tough to be present and relevant on Twitter, Instagram, Pinterest, and other social networks. So one tip is to create a unique hashtag for your brick-and-mortar store and use it on all of your social media platforms.
Social media allows you to connect with your customers, which translates to more sales. You can also use social media to showcase upcoming events and promotions, which will increase foot traffic.
Set Intentional Milestones
Many brick-and-mortar stores fail because they don’t have a specific goal in mind. How much do you need to make this month? How many new customers do you need to attract? Look at your bank account and compare it against your expected earnings.
Based on your benchmarks, create actionable goals. For example, if you earn $50,000 last year, set a goal to make $100,000 this year. When you achieve your goals, reward yourself with a bonus.
Create a Culture of Success
It’s hard to be successful if you don’t have a culture of success. Break down the tasks associated with running your business, so everyone understands what’s expected. Harness the creativity of the staff and make a plan to grow your brand.
Never allow yourself to forget that people are looking to you for leadership. Make a plan so that you’re the one directing the path of your store. You can achieve success by being an inspirational role model, so be a leader in your field and let others see it.
Brick and Mortar Stores Aren’t Going Anywhere
It may be easier to purchase items online, but people still flock to brick-and-mortar stores because of the experience. You can build a sustainable business by following the tips outlined above.
The internet does pose a threat to brick-and-mortar stores, but if your business is offering a unique experience, it’s better to have a considerable customer base than to be the best-kept secret. Spending time in the store can also help you build valuable relationships with loyal customers.
The internet may move fast, but brick-and-mortar stores will always have the upper hand. Of course, riding the wave of the digital era is ideal, but remember you need to be a part of both worlds to succeed.