Sweet shops have near-universal appeal – who doesn’t like a bar of chocolate or a bag of pick ‘n’ mix? – so the challenge for candy retailers is to decide which market segment to target.
You might assume that with such broad appeal, sweet retailers shouldn’t target one demographic at all, but should instead stick to broad-brush techniques such as brand name promotion.
However, this can be false economy compared with generating sales in a specific niche. When you find a well-defined market segment that has not yet been tapped in your local area, you can establish yourself as the go-to retailer for that demographic.
The results can be blistering when compared with trying to compete for brand awareness in a crowded geographical marketplace or vying for search engine rankings online.
What determines marketing success?
There are a few ways to measure marketing success, for example, brand recognition, website traffic and physical footfall, but ultimately these need to translate into increased profits.
Sales, revenues and profits are the end-goal of any business, and in terms of marketing campaigns, that means generating the maximum return on investment for every pound you spend.
While general marketing can achieve positive ROI, it’s quite possible that the biggest profits can be found in a niche market, and identifying this segment or demographic so that you can target it is a crucial step.
Defining target markets
It’s good practice to sit down and think about the different demographics and types of customer you serve.
Some examples of this include:
- Online vs. real-world shoppers
- Adults vs. children
- Niche markets (e.g. sugar-free sweets for diabetics)
You might already be aware of your USPs, for example, if you stock imported candy that is hard to buy locally, or traditional sweets that have extra sentimental value for older shoppers.
Reaching out to your target market
Decide on one or more target markets to reach out to. You can continue more general marketing at the same time, but dedicate a certain percentage of your marketing to a specific niche, and see how it goes.
If your product range has the most appeal for younger people, consider targeting advertisements at their parents, who have the spending power – especially on platforms where advertising candy directly to children is not permitted.
You can run promotions in-store too, such as multibuy offers and free samples, although it’s best not to give away too much product for free. An alternative is to create gift boxes and hampers that you can sell at a premium, targeted at a specific demographic.
If at first…
Keep pushing your brand in general terms, alongside any niche marketing efforts, until you find a target segment or demographic that works for you.
If that’s not your first attempt, don’t worry. Redefine your target and your goals, and go again. Ultimately your tenacity will pay off, and the positive ROI should more than make up for the time and effort.
Finally, don’t neglect your existing customer base. Sometimes targeting an already lucrative demographic can boost sales even more, while other times it’s good to try an as-yet untapped market instead – you won’t know for sure until you try.