Five Marketing Strategies That Retailers Spend Half of Their Annual Budget on

January 14, 2024
David Sunnyside

As an industry with a broad spectrum of fiercely competitive product markets, retail requires a robust marketing strategy to set their businesses apart from the competition and usher in healthy revenue growth. With that in mind, retailers allocate a sizable percentage of their annual budget to marketing strategies that can effectively showcase products, cultivate brand recognition, and ultimately boost sales.

Retailers typically spend half of their budget on five marketing strategies, including influencer marketing, digital advertising, micromarketing, customer relationship management (CRM), and branding and campaign marketing. These marketing techniques are highly effective for reaching potential customers, driving website traffic, and generating brand awareness.

Influencer marketing leverages the popularity and trust of influential individuals to promote a retailer’s products or services. This marketing strategy is effective for boosting brand visibility and credibility, increasing customer loyalty, and attracting potential new clients.

Digital advertising is a powerful tool for promoting a retailer’s products or services, especially when it’s tailored to each individual shopper. Digital marketing includes various tactics, such as pay-per-click (PPC) ads, social media marketing, and email marketing.

Aside from traditional marketing channels like television commercials and radio advertisements, online marketing is a vital component of any successful retail business. Online marketing involves creating a website, blogging, and social media pages to generate web traffic and sales. In addition, a business can optimize its search engine optimization (SEO) to improve its rank in online searches, which drives more daily traffic and ultimately leads to more sales.

David Sunnyside
Co-founder of Urban Splatter • Digital Marketer • Engineer • Meditator
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