Opening a new store in the retail market industry is a challenging task considering that there are other established outlets offering the same products. This means that competition is fierce, because you have to convince customers to buy from your store.
Nevertheless, you can still make the grand opening event of your store a unique milestone and lure some customers away from your competitors. A key to success is a proper planning and a reasonable budget to ensure that your grand opening event makes history. In the field of retail marketing, the policy requires many efforts and resources to be a serious competitor. If you cannot convince potential customers to buy from your store, then your business will eventually fail. In fact, you cannot enjoy a monopoly in the retail industry, because there must be another rival store selling the same products as you do. Moreover, in some cities, it is possible to find a chain of stores having similar offerings on the same street. What makes a difference in the retail market is how you market your store and convince the customers to buy from you. Your entry style for the market also matters, because it will make a lasting impression on potential customers. Thus, this paper will highlight five ideas for a memorable grand opening of a business.
Include a Worthy Cause in Your Grand Opening Event
The world of marketing has greatly changed its direction; currently, contemporary businessmen want to be associated with charities or activities that are not only profitable but also beneficial to the community (Greene, 2016). The fact that you are opening a business is not a novelty, because others have done it before. This means that you need to convince your target market that your grand opening event is worth attending by including in your vision some objectives that will benefit the community. The idea is to let the members of the public feel attached to your event and incentivize them to attend in large numbers. For instance, you can consider incorporating a charity cause in your grand opening so that visitors can see the importance and reasoning behind launching your business.
Speaking of other strategies that can appeal to the public, you may decide that all the profit that comes from the sales during the grand opening will be used to cover the educational expenses for the needy children in the society. Additionally, you can offer goods and services at a discounted price in the event to attract more potential buyers. Education is a very important aspect of the development of every community, and, thus, many influential people will be willing to attend your grand opening event so that they can financially support less fortunate children. Consequently, such worthy cause can make even politicians and government representatives to engage in an ordinary business-opening event. The presence of high-profile figures will definitely help you win a good reputation and make the event memorable. Moreover, you can shoot a creative video of your grand opening and post it on YouTube and other social media platforms to increase the importance of the event and raise public awareness. This will encourage individuals who did not attend your grand opening event to visit your store in the future and buy some products in order to contribute to a greater cause.
Host or Sponsor a Related Event Alongside the Grand Opening
This is a very effective marketing strategy that you can use to attract more people to attend your grand opening event. You can host or sponsor another occasion to take place alongside your grand opening to double the number of visitors. Also, you can decide to host it individually or co-host it with other parties if you have a limited budget. The idea behind this strategy is to make more people interested in attending your grand opening event. However, you should never co-host the sponsored event with your competitors as they might take advantage of the occasion to market their products.
The event that you are hosting or sponsoring should be relevant to your business so that those attending can also find interest in your products. For instance, if you are opening a beauty parlor, you can consider co-hosting a fashion event alongside your grand opening so that models can display some of your products. If you are opening a clinic, you can co-host an event whereby specialists can come and offer free medical checkups. The idea is to sponsor or support an event related to your business sphere so that you can increase the number of visitors. However, the event you are sponsoring or co-hosting should not empower your competitors or give them an opportunity to advertise their products.
Invite a Celebrity to Your Grand Opening Event
Business organizations are now using celebrities to market their products. In fact, business owners have realized that many consumers are likely to use a product if a certain celebrity endorses it (Greene, 2016). For instance, if a musician frequently visits a certain restaurant to have lunch, the chances are high that the majority of his/her fans will go to that same place, because they want to be associated with their idol or hope to meet the celebrity. However, you need to choose a star related to your line of business so that they can have more impact on the publicity of your business. For instance, while you can choose a boxer to attend the grand opening event of a gym club, it is not appropriate to invite such public figure to an event to open a baby-clothing store. In case you are opening a beauty parlor, you can choose a female celebrity to come and grace your event. As an alternative, it could be a Miss World from your country, Miss Universe, or any other female celebrity who is famous in your city for her beauty. The celebrity can come as a guest or assistant taking visitors around the store so that they can view different products. They can even sample some of the offerings in the store to convince consumers that the products are of high quality and value for individuals who are eager to look impeccable.
Use a Marketing Stunt to Advertise Grand Opening Event
It is important to advertise your grand opening event, just as you intend to use the event to market your business. Application of marketing stunts has become a crucial aspect of modern marketing. Nowadays, business people realize that they have to capture the attention of potential customers before they can proceed to convince them to buy their products (Francois, 2011). However, you need to make sure the marketing stunt that you intend to use to popularize your grand opening event is relevant to your business. In other words, you need to ensure that the target audience of your marketing stunt will be able to connect with your business and feel an urge to attend the grand opening event.
For instance, you can have a road show around the city where your store is located and let people display their funny makeup. This stunt will thrill ordinary passersby so that they are interested to attend your grand opening expecting to see more funny things. The vehicle carrying people with make-up can have some banners advertising the grand opening event of your business. They should include the date of the event, time, and venue so that people can instantly remember it and attend. Generally, you need to develop a funny and creative idea in your marketing stunt in order to make your grand opening event entertaining yet beneficial for the community.
Organize a Competition During the Event
This is a very effective approach that you can use to popularize your grand opening event and encourage more people to make a contribution. It is worth noting that many consumers prefer attending events where they can participate actively and receive some incentive remuneration for their efforts. However, you need to make sure the competition that you intend to hold alongside your grand opening is related to your business. You can organize the grand opening event where visitors will have an opportunity to win some gifts. Remember to place some festive decorations and advertise the event. Here, printed vinyl banners will be helpful. You can order custom banners of any size with any message on them. This is the best way to attract people and show them your store is special. For example, while organizing a competition, you could order a banner which says “Come and Show Your Talents to Win a Free Product.” If you are opening a club, the message could sound as follows “Come and Show Your Dance Moves to Win Free Beer Tonight.” The message should have a compelling hook to lure more people into attending your grand opening event to win the gifts mentioned. Additionally, there are individuals who can come to see the competition and have some fun.
Generally, the abovementioned five ideas can make a grand opening event of a business successful and memorable. However, it is also important to tailor these strategies to the peculiarities of the target market in order to satisfy the demands of consumers. These ideas can entice more people in the industry to attend grand opening event and also serve as a marketing platform. However, there is a need to customize the abovementioned advertising methods so that they can reflect the marketing needs of individual businesses.