Do shopping malls need a marketing strategy?
Yes!! They do need a cutting-edge strategy to succeed as shopping malls compete with other malls as well as retail stores and shopping centres.
It is essential for shopping malls to detect and take advantage of new opportunities and integrate the right technologies into their marketing strategies to stay ahead of the competition.
Challenges for shopping malls
- Decreasing traffic flow
The biggest challenge shopping mall owners and managers face today is the dropping foot traffic to the malls in the past few years. Malls are continuously facing a fluctuating traffic count and declining tenant turnover. With the rising trend towards online shopping, it is becoming more challenging for retail stores and shopping malls to acquire new customers and retain the old ones.
- Increasing competition
Shopping malls no longer compete only with other malls. Their adversaries now include high-street retail stores, online shopping platforms, and delivery apps. In fact, the rise of online shopping is posing the biggest threat to shopping malls.
- The declining impact of traditional marketing channels
Traditional marketing channels like newspapers, magazines, and billboards are losing their influence. The malls that are yet to discover the right marketing mix are struggling to maintain visitor count and improve revenue.
To counter these challenges, shopping mall owners need to invest their time and budget in marketing strategies to attract more traffic and stay ahead of the competition. Here are the top 5 marketing ideas for shopping malls to attract more customers and generate more ROI:
- Use the power of social media
As a shopping mall is a customer-centric business, use customer-centric social media channels to market and promote your mall. Facebook, Instagram, and Pinterest are the three social media platforms that a shopping mall and retail business should take notice of.
You can use these platforms to promote upcoming events, new stores, collections, and special offers. Sharing news and updates about the mall on social media will generate a sense of anticipation in your audience and attract more traffic to your mall.
You can improve customer satisfaction by implementing these social media strategies:
- Ensure the same message is transmitted across all platforms. Send out the same message regardless of the type of channel your customers are using.
- Whether writing a blog post, posting on Facebook, or taking an Instagram photo, the tone of communication should be consistent.
- Generate content that connects with their emotions.
- Use social media to share free gifts, prize draws, and promotions.
- Strengthen your email marketing strategy
Email marketing is a very effective marketing strategy and can help drive 3600% ROI for your business. It is the best marketing strategy to boost sales, showcase products, build connections with existing customers, and acquire new customers.
About 72% of customers prefer to receive promotional content through email, while only 17% choose social media. By sending emails to the target audience, shopping malls will not only increase their sales but also build a strong list of loyal customers for the future.
Here are different types of emails shopping malls can send to their customers and target audience:
- Welcome emails: Send a welcome email to your new customers and make them feel like they are part of the club. Thank your customers for making a purchase and show them what they can expect in the future.
- Promotional emails: Send retargeted promotional emails based on your customer’s past purchases. Share the latest offers and discounts on products they are interested in. Send promotional emails to customers to advertise special deals such as new year deals, festival offers, etc.
- Re-engagement emails: Re-engagement emails are targeted to remind previous customers who haven’t visited in a while. Encourage them to visit the mall by sharing updates like new stores launched, upcoming events, new fun activities added to the mall, and new offers.
Segment your email database based on customer profiles, their behaviour, and where they are in the buyer’s journey. Segmenting your email list will help you tailor your email content depending on the specific segment. This will help strengthen relations with your customers as they feel you know them and what they like.
- Organise engaging events
People no longer need to leave their homes to buy products; they do so to engage with the community, spend some leisure time, interact with others, and get a unique shopping experience. This is why malls need to understand they are not just a place to shop but one-stop experience providers for shopping, social interaction, and entertainment.
Your shopping mall marketing strategy should target the general public by organising social and cultural events during holidays and weekends. Malls should establish themselves as a place where people want to go for entertainment while they shop.
The goals of organising events in shopping malls are:
- brand awareness
- increasing traffic flow to the mall
- building relationships with customers
- establishing brand loyalty
Some ideas to organise fun events:
- Host musical, artistic, and cultural events
- Organise competitions
- Organise photo contests where customers can share their shopping experience at various stores in the mall
- Product launches
- Adding popup stores and kiosks
- Inviting an eminent personality for a meet and greet event
- Expert talks
Customers prefer personalization over standardisation. About 80% of customers expect businesses to provide personalised shopping experiences.
- Create a unique hashtag for your mall
A unique hashtag for your mall will make it easier for the audience to find your content and engage. With a unique hashtag for your shopping mall, you can monitor the content your visitors share on social media while sharing their experiences. Encourage your visitors to use your mall’s official hashtag while posting their experience visiting the mall, shopping at a store, and enjoying fun activities.
User-generated content using your official mall hashtag can be used on your official social media pages. These pieces of content can also be displayed on digital signage to encourage people to engage more with the hashtag. Displaying your hashtag feed is a great way to connect your social media marketing strategies with offline marketing efforts.
This will enable you to communicate with your audience, build a rapport, encourage more engagement, promote your tenants, and boost sales and ROI.
- Use in-mall assets for marketing
Start your marketing efforts with assets you already have in the mall. You will probably have a lot of resources that can be used to improve the shopping experience, promote brand awareness, and drive more traffic to the mall.
These marketing strategies will include
- Window displays
- Curbside displays
- In-store marketing
- Staff training
- Partnerships with other local businesses
- In-mall and virtual promotional events
Next Galleria Mall provides a great shopping experience to its visitors. It is the best mall in Hyderabad where you can shop some best brands at great prices.
Experience shopping and entertainment at Next Galleria Mall today!
Frequently Asked Questions
What makes a shopping mall successful?
The success of a shopping mall depends on different factors. The factors that contribute to the success of a shopping mall are the strategic location of the mall, the design and layout of the mall, the range of stores and restaurants, engaging fun activities, parking space, and the right marketing strategies.
What exactly is mall advertising?
Mall advertising refers to advertising displays placed inside and outside the mall. This will include traditional and digital banners, backlit dioramas, and signage for advertising. Advertising is the best way to improve brand awareness and encourage the audience to visit the mall and shop from their favourite brand.
What are the 7 marketing tips for launching new products?
Here are seven marketing tips to help launch new products:
- Study your market and competition
- Offer exclusive product previews to your loyal customers
- Launch your product with an introductory offer
- Use email marketing to promote your product
- Organize pre-launch contests and giveaways
- Improve your organic reach
- Organize product launch event