You have just made the decision that it’s time to close your retail business. In most cases some of the primary reasons you have made that decision are that business is declining, your customer count is way down and your advertising is not working. So, how are you going to sell your entire inventory and fixtures in just 60 to 90 days?

You need to have a concise, well thought out marketing plan that is not only going to get them in the door the first time, but keep them coming back throughout the sale. And you have to do it as inexpensively as possible. Most Store Closing Sales require a budget of 6% – 8% of estimated sales

Below are some of the marketing tools that I use when developing an effective marketing plan for my clients that have decided to run a Store Closing Sale.

Email Marketing – least expensive and most effective way to reach your customer

Exterior Sale Signs – often creates more traffic than any other means, depending on location

Direct Mail – letters or postcards, used for initial and follow-up marketing

Press Releases – the best free advertising you can get

Prize Drawing or Contest – incentive to come in initially/captures contact information for follow-up marketing

Web site marketing/pay per click campaign – can be target at local market

Newspaper Ads– weekly paper that covers primarily local news usually produces best results

During the next several weeks I will cover each of these tools in a separate blog. The balance & timing of using these tools vary by each stores unique situation and not every tool is used for every sale.