Take These 5 Steps to Get to Know Your Acquisitions
July 21, 2023 by Jamie Banks – If you’re reading this, you’ve either acquired new stores, or you’re thinking about it. Congratulations are in order. Now you’ve got to figure out how to streamline your marketing efforts and provide continuity in your marketing between your new store and your acquisitions. Where do you start?
Make a catalog of your stores’ assets. A store survey will help you understand what’s in each store, such as fixtures, visual merchandise opportunities, locations for POP, self-checkout stations, promotional endcaps or whatever else may be required. Include plumbing, electrical, and architectural elements as doors, windows, etc. By knowing what is in your stores, you can plan your in-store marketing.
Look at your campaigns. Use data to track the results of your marketing campaigns and to see which have been the most effective. Are your in-store campaigns synchronized with your messaging on social media, push and pull campaigns? This will help you allocate your marketing budget more effectively.
Pricing optimization. Analyze your pricing data to determine the optimal price points for your products. By finding the right balance between maximizing profit margins and attracting customers, you can increase your overall profitability.
Optimize your inventory. Utilize data to optimize your inventory levels. By analyzing historical sales data and forecasting future demand, you can ensure that you have the right amount of stock on hand, minimizing the risk of overstocking or running out of popular items.
Tie it all together. It’s easy to keep all your data in separate silos, but in doing so, it becomes difficult to see how one factor affects the other. AccuStore powers the full retail marketing process. From building and maintaining accurate store profiles, to managing campaigns, to guiding you through pricing and inventories. AccuStore powers your stores from acquisition through full enterprise integration.