About Pop Up Shops
Pop up shops allows businesses to combine the sales channel with the action of marketing and advertising. It is established as a channel through which the brand can sell its products, but at the same time generate word of mouth, which allows it to reach more audiences. The pop-up method is original and intriguing for consumers, who seek to visit brands that they generally can only see online.
Pop-up shops requires an investment, but it will be much less than of an investment required by a permanent storefront. An actual brick and mortar store would be close to $1,500 a month or more in rent and expenses. A vending fee of $90 is more affordable for a new business owner who may not have the funds to pay $1,500 a month for their own storefront. This is why this investment is generally considered within the marketing and advertising budget, with the advantage being that it allows you to measure your ROI (return on investment) more quickly and accurately than most marketing actions.
In order for a pop-up shop to be successful you will need to carefully plan the event. You must promote and inform your customers of the upcoming pop up, releasing all the correct communication to achieve the greatest possible attendance and achieve the overall goal of your pop up shop.
To encourage your customers to come out and support the event you can combine promotions between both channels. Encourage them to visit the pop-up store and shop online at your store, through discount coupons and other promotions, which will allow you to generate new leads to enter your sales funnel, and grow with your business.
The pop-up format of the store allows you to personally get to know the customer and “build” a stronger relationship with them. This is especially true for online projects. Consumers and the media love the buzz that pop-up stores create. Such a format with competent PR support will increase the recognition of the product and brand.
The more creative the idea to implement in a pop-up store, the more local media will write about it. You can invite local bloggers, experts or influencers in your field of business. Pop up shops are ideal if you are going to enter a new market, launch a brand or product. They will allow you to immediately get customer feedback.
Step by step guide to hosting a successful pop up shop
1. Set a goal
Understanding why a pop-up store is needed is very important. The strategy you would deploy is dependent on it. Below are possible options for goals.
- Get extra income
If you have an online business, you can attract new customers through pop-up stores. After offline purchases, these people can return to you already online. For retailers, a pop-up format is a way to check a new location, product, or market. And only then decide whether to open a permanent location or launch the product / collection completely.
- Pop-up allows the brand to earn money, get feedback and create “hype”.
- “Meet” customers: It is often difficult for online brands to build relationships with customers. They do not see them, and online questioning and other marketing research of the target audience are ineffective. Creating physical space is a great way to get to know your customers and develop “friendly” relationships with them.
- Increase brand awareness through exposure and buzz: A pop-up store is a tool that can turn new customers into brand ambassadors. The “noise” that rises around the company will attract attention. And here it all depends on the creativity of the store.
- Sell off the leftovers: A pop-up store is a great way to get rid of old collections that clutter up store shelves. Perhaps this is not the most inspiring reason to open a flash store. However, it can still serve as one.
2. Location Selection
Locations are always available. Your choice of location depends on many factors: budget, pop-up store lifetime, concept, and so on. There are many spaces you can rent to host your pop up shop. What is your budget? Are you ok with paying a $100 fee to make $980 at your pop up event? A store in a store is a pop-up store in the space of an existing store. The Market Pop would be considered a place that hosts “store in store” pop up shops. We offer vendor’s table to business owners for up to 7 hours a day for only $90. Our space is clean, affordable, and constructed to help vendors decorate and bring their brand’s vision to life.
You must also think about the life time of your pop up shop. Will you make this a one day event or a one week event? Some places will allow you to rent space for up to 7 consecutive days to host your event. If your goal happens to be “to raise brand awareness” it would be smart to host a 5 day pop up shop. Each day you can offer something unique to your customers like discounts and access to new merchandise. You could even set up your space differently each day, tailoring it to fit a specific message you are trying to send about a product or service.
Pros of The Market Pop Location:
- network and form lasting business relationships with other vendors;
- full-time makeup artist and hairstylist onsite for photography needs
- autonomy in merchandising rented area - bring brand’s vision to life
- assistance w/ marketing and branding your business.
- photography onsite to help capture memorable moments for your brand
3. Make Noise-Advertise event!
The next stage is to attract maximum attention. Social networks work best here. Create events, create a store profile, and establish contacts with local media and influencers. If the product is social, focus on this and promote your idea wherever possible. Refer back to the “Marketing Strategies” section for ways to begin promoting your next pop up shop. There, we talked about marketing strategies such as personal marketing, blog marketing, and digital marketing. You could easily create informative blogs and unique content for youtube to begin getting the word out about your next event.
If there is anything going on in the media, mildly related to your business-you should be capitalizing from it. Be creative and original in your marketing efforts. Customers love genuine, real brands that they can relate to. There is no limit to the sales, promotions, contests, and giveaways you can create to form a buzz around your next pop up shop. Tip: Begin planning your marketing plan at least 30 days prior to execution. This gives you a leg up on competition and helps you to eliminate the stress of worrying about content. All content that you release should be carefully planned and related to your brand’s overall message.
Evaluate Your Results
Depending on the purpose of the pop-up store, success needs to be evaluated in different ways. The possibility of "measurements" is important to think of in advance. How will you determine the success or failure of your next pop up event? This is where you must keep your goal in mind. It’s beneficial to track and analyze your progress, to ensure that you are always reaching your goals and creating new ones. This helps to keep you moving forward with growth and refinement in the front of your mind.
Pop-up shops were originally created primarily for show format sales, but now most of them are designed to tell a brand’s story or share personal experiences. The Market Pop’s idea of a successful pop up shop is one that creates a memorable experience for the customer. We believe that business owners should be creative in their marketing approach, as first impressions are everything. These small events also serve as small networking events.
Our vendors are encouraged to pass out their business cards to other vendors in hopes of forming strong business relationships. Given you apply these tips when planning your next pop up shop, you’ll be sure to not only make great sales; but form meaningful business relationships as well.
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