Enterprises of all shapes and sizes are choosing to set up their own pop-up stores and stalls, embracing the business industry’s biggest trend. From small online brands to large corporations like Nike, businesses of all shapes and sizes are taking advantage of the pop-up trend, and it’s easy to see why.
The reason that pop-ups are so popular (and extremely profitable) is because they capitalize on the ‘get it now before it’s gone’ mindset. Pop-ups are stores or stalls are temporary – the idea behind the concept being to increase your customer base by communicating with potential customers, showing them what your brand can offer – which means they have the ‘get it now or lose out’ mindset working for them.
When it comes to the benefits that pop-ups offer, each brand has different visions and values, which means that the benefits are also different. However, the main benefits of pop-up stores and stalls tend to include: allowing you to test a new revenue stream, engaging customers in a unique way, encourage sales through the urgency of ‘get it while it lasts’, create awareness surrounding a new product or service, and boost brand awareness.
Keen to go mobile and open a pop-up store to help boost brand awareness and increase your revenue stream? Read on for all the best tips and advice for doing so successfully.
Set your goals
The first step to launching a successful pop-up is setting your goals. Determine what you aim to achieve by opening a pop-up store or stand. Different sized brands will have different goals – it’s about working out what goals are the best fit for your brand’s needs. The three main goals that enterprises tend to have when opening pop-ups include: increasing revenue, improving brand awareness, and increasing customer engagement. It doesn’t matter what your goal is, just make sure to clarify it beforehand.
Choose your destination
Step two is to determine the destination where you will open your pop-up. Will you set up your stand near your business premises to entice customers to visit it? Are you planning on opening your pop-up as part of a local event? Or, do you want to travel a little further afield and launch your pop-up at a national festival or event? The answer to this will depend on a range of factors, including the size of your budget. Choosing to take your business to a large music festival is all well and good, but to be able to do that you have to have the funds available. When selecting your pop-up location, ensure that you take your budget into account.
Be clear about what you will need
To run a pop-up, there are certain items that you will need. These include a setup, such as tables, decorations, cover for if it rains, and if your business is food-based you will need a cooker, fridge, and cooking utensils. You will also require a method for taking payments. This could be as simple as a calculator, money tin and notepad for receipts or it could mean taking advantage of merchant account services and using a mobile point of sale system, depending on whether you want to take both card and cash payments. Ask yourself whether you require electric hookup? Or can you run your pop-up without it? This will impact the destination where you are able to run your pop-up from.
Get your marketing spot on
Want to ensure that your pop-up is a success? Then it’s vital that you get your marketing spot on. The key to pop-up success is social media, as it’s the simplest way to get the word out about your stall or stand. If you are attending an event, such as a music festival, using the event’s hashtag in your posts is the key to success.
Love the idea of opening a pop-up and going mobile for a few days? The ideas above should help you to do that.
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