As one of the world’s largest retailers, it should come as no surprise that Walmart has spent significant money to promote its brand. With over 5 trillion in sales since it was founded more than 50 years ago, there is little chance it wouldn’t!
One tactic company marketers use to promote their brands is creating an association or link between your product and another product people already associate with good quality.
This way, when someone thinks about your products, they may also think about yours. This applies particularly well to big companies like Walmart which have large variety of products.
By bringing attention to their other products, you can boost sales for those brands as well. In fact, studies show that up to 70% of purchases are influenced by emotion, so drawing attention to how great a seller Amazon is will increase conversions.
With this article, I will go into detail on some of the ways Walmart uses marketing strategies to promote new products. I will talk mostly about what types of products they brag about, but there are others such as TV advertisements and targeted ads on social media sites.
Another important component of marketing for Walmart is their store location! Companies that offer similar products as what you sell will likely be using similar strategies to market themselves. For example, if you are selling baking equipment, then another company may use pictures and statements about how much their product can save you time in the kitchen.
Alternatively, they may put emphasis on how well their product brands fit into Walmart’s brand image. By doing this, they create consistency for their customers who shop at both places frequently.
Consistency is an integral part of marketing. More people do business with companies that have consistent branding and messaging. This helps promote trust between your company and those reading your messages. – Sam Walton
Good marketers know that creating consistency is one of the most fundamental ways to develop their personal brand. As mentioned before, marketing yourself doesn’t just mean putting up flashy advertisements or telling everyone how great you are. It means showing up consistently and purposefully every day.
This includes things like showing up at work, attending meetings, responding to emails, and more. People who watch this activity grow increasingly confident in you as a person and leader.
Walmart knows it takes more than offering good discounts to win new business. They invest in solid advertising, advertise during prime sales times, and position and merchandise their stores clearly so people don’t pass them by.
In fact, online shopping has become the new normal for how most people shop. According to Business Insider, over one-third of all retail sales are completed exclusively through online channels or via mobile apps.
In fact, according to Statista, nearly 90 percent of smartphone users now use their device to do some sort of commerce while shopping. This includes looking up product information, reading reviews, and sometimes even ordering the products directly from the app!
With so many ways to buy products virtually anywhere at any time, it makes sense that companies like Walmart have adapted by offering their own type of virtual store where you can find and purchase items easily and quickly.
There are several types of eCommerce that Walmart offers including ShopRunner, Walmart Direct, Walmart Credit Card Accounts, and eventually Amazon Prime. Each one serves its unique purpose depending on your budget, needs, and preferences.
This article will talk about why marketing professionals should care about what type of eCommerce Walmart uses and which is best for them.
While some may consider Target or Amazon more fashionable, one that is overlooked are dollar store brands. These sites have large discounts and sales of mostly fashion items and accessories. Companies like Container Store and Bed Bath & Beyond make their profits off selling additional products while the cheap merchandise sells out quickly to online shoppers.
Dollar General and Family’s Market are two of the largest discount retailers in America. Both offer very low prices with limited product diversity. However, both grow rapidly through the use of promotional strategies such as coupon clipping and buy-one-get-one-free (BOGO) offers.
Their quick growth can be attributed to three things: quality goods, unbeatable service, and marketing. The company advertises frequently to show why people should visit the site and shop there. They also promote using coupons at the site.
Overall, these types of companies appeal to individuals who value good deals and fast services. Because they do not have elaborate customer service, however, it may turn away other customers.
Like any successful business, what makes Walmart special is their marketing strategies. They spend lots of money on creative advertising and media to get people’s attention and then they make all the products in-house or through partners that they trust.
By having your own product, you know it better than anyone else, which cuts down on costs very much. This also gives them more control over how the product is run and if it works.
They have always used clever advertisements to market things so this isn’t really anything new. What is new though is using technology to connect with other businesses and individuals to promote their products.
Even though Amazon has become known for its lightning-fast online shopping, one must not forget about the company’s incredible product quality. The vast amount of products that they have at any given time is what makes them stand out from the rest.
Amazon goes all in on ensuring that their customers are happy with each purchase, which is why you will most likely find some return policies here!
Their customer service team is very attentive and willing to help anyone who may need it. They know that even if you are just looking to send off your new favorite shirt, people can get nervous when buying online.
So, instead of leaving completely, they try to make things as comfortable as possible for everyone involved. This includes offering shipping options, returns, and of course, taking care of unhappy customers.
Never underestimate the power of having high quality merchandise! Companies like Amazon know that keeping up this quality level takes lots of effort and investment, but it is definitely worth it.
As we mentioned earlier, one of the ways that big companies use to gain exposure is through marketing strategies such as product placement or advertising. For example, if you love shopping at Target then watching their commercials may influence you to visit Target more often.
Target does this by creating advertisements and media campaigns for products that are within their stores and for brands they own. They also advertise for new brands that fit with their company’s vision.
By having large corporations promote your brand, it becomes visible to many people which can create word-of-mouth publicity that attracts new customers.
As I mentioned earlier, Walmart has loyalty program accounts for their products and services through vendors. These are very popular as people can earn points towards merchandise or get discounts by having them!
This is great marketing strategy because it does not cost too much money to implement and use, and individuals will reap the benefits from it.
For example, if you are looking to purchase a new pair of shoes, you may be able to find one that is around $15-20 less expensive due to the fact that you have earned enough reward points to buy it.
That is an incentive to keep shopping at Walmart! More companies and retailers should do this to remain competitive in the market.
As I mentioned earlier, one of the main reasons why Walmart is successful in marketing is because they focus on creating an environment where customers feel welcome and wanted. They create an open conversation about products and services, which encourages potential sales.
Their corporate culture allows for constant communication and interaction with other people. This way, they know what things are working for their competitors and them.
They also keep up-to-date on trends in the market to find new ways to promote goods and increase sales.
What makes this work for them as marketers is that they use these strategies directly instead of relying on luck or chance to succeed. By having a strong company culture, they do not need much help promoting their product or service.