Black Friday can be an opportunity for many businesses to boost their sales, rid themselves of unwanted or over-ordered stock, and attract new customers to their products and offerings.
These money-saving deals and incentives can appeal to potential customers seeking a pre-Christmas bargain, but how can smaller retailers get in on the action?
For small business owners, Black Friday can often seem like an overwhelming event that their infrastructure is not adequately prepared to take on.
Sam O’Brien, Chief Marketing Officer at performance marketing platform Affise, has compiled a list of easy-to-implement expert tips aimed at helping small businesses maximise their profits, and execute a streamlined promotional event on Black Friday:
1. Create some noise on social media
In the lead up to Black Friday, it’s important to make sure you’re posting plenty of content to your social channels, in order to create a buzz around the event.
This content can be organic, paid or a combination of both, but with competition around this period being extremely high, you want to keep your brand and business at the forefront of customers’ minds and cut through the Black Friday noise.
2. Promote stock you’re struggling to sell
Black Friday is a great way to push any out of season or over ordered stock that you might have that you’re struggling to sell at its current RRP (recommended retail price). Creating price promotions for these products will make them appear more attractive to customers in search of a bargain.
3. Keep an eye on competitors
It’s important to stay informed on what kinds of promotional activities your competitors are offering in the lead up to Black Friday and align your strategy to coincide with theirs.
By ensuring you’re offering similar (but not the same) deals to customers as your competitors, your deals won’t pale in comparison to theirs, but also your business won’t be seen to be undercutting the competition with deals that could be deemed as ‘too good to be true’.
4. Bundle your products
Grouping products together to create a bundle is a great way to sell your products and entice customers to your Black Friday offers.
Many shoppers are looking to get more value for their money, so the chance to secure multiple bargains or Christmas gifts in one go will be very tempting to those with limited time, plus the promotion of bundles as gift sets ‘just in time for Christmas’ or with free products included will even more enticing to bargain hunters.
5. Special deals for mailing list subscribers
A tactical way to make customers feel like they are ‘special’ and are being rewarded for subscribing to a mailing list is to offer exclusive discount deals to them as a ‘VIP customer’, and before they are advertised anywhere else publicly.
This can be through a promotional code to use at the checkout for extra discounts, through specific pre-Black Friday deals, or on specific products just for them.
6. Give an additional promo code for a later date
Enticing customers to buy from your business on Black Friday can be a great way to quickly boost sales, but how can you ensure customers will return?
Creating a promotional voucher that can be used for a few weeks after Black Friday, will encourage customers to return to your shop again, perhaps to stock up on any last-minute Christmas bargains.
This article was provided by Affise.
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