It’s almost that time of the year when shoppers ready their cards to take advantage of the best shopping deals of the year. It is also a period where business owners wait for all year to rake in some profit. This is why many spend time researching black Friday marketing ideas for small businesses.
Since Black Friday is the busiest shopping day of the year, you can be sure that every company will be holding promotions and discounts at this time to boost their earnings.
Several companies make a lot of their annual sales in the first two to three weeks of November. This is the period when Black Friday and Cyber Monday sales occur.
Here are some brief black Friday statistics from 2021 to help you understand the significance.
- In America alone, about 88 million buyers shopped online on black Friday. There were about 155 million shoppers in total.
- In 2020, the total black Friday revenue was $188 billion.
- More than half of the online shoppers during this period were first-time buyers.
On Black Friday, it’s a given that people will part with their cash as they look to get the best shopping deals possible. To be fair, most businesses don’t offer this kind of deal all year round. So it’s up to you to ensure that you effectively place your business in the mix.
The goal is not to compete with big businesses or megastores like Walmart, Best Buy, Target, Jumia, Amazon and the like for Black Friday customers. Your business goal should be to entice your own audience because, clearly, you do not have the advertising budget of the big guys.
As a small business owner, our goal for this article is to assist you with strategies to maximize your sales on Black Friday. We will be providing you with some suggestions for Black Friday marketing strategies tailored specifically for small companies.
Here are several strategies you can use on Black Friday to make the most of the shopping frenzy and bring in more money for your business. Because it is really about the money isn’t it?
What is Black Friday Marketing?
Black Friday Marketing is a specialized form of sales promotion explicitly geared toward customers looking for Black Friday deals.
A successful marketing campaign for Black Friday will include a variety of strategies, including organic and paid media, social media, marketing via influencers, and even advertisements on television and billboards.
If everything goes according to plan, your Black Friday campaign might account for more than 20 percent of your annual sales. So you need well-planned black Friday marketing ideas.
Black Friday marketing ideas for small businesses
Create an irresistible offer.
As you already know, the insane discounts on Black Friday drive the shopping frenzy that day. Customers have been conditioned to anticipate massive markdowns and excellent prices when shopping.
In fact, this is one of the most common black Friday marketing ideas for small businesses.
But you don’t have to only discount your goods. In fact, regardless of popular belief, it is often not the most excellent method to generate an offer that customers can’t resist taking advantage of.
The reason for this is simple, yes people seek good discounts, but more importantly, they want to ensure they get the most value possible. When developing a new offer plan, it is essential to consider this.
Making consumers believe they receive the best deal possible for their money is essential to creating a compelling offer. Check this black Friday offer sales ideas.
- A discount on the items or services you provide: Massive discounts such on flat-screen TVs, laptops and other devices are typical for Black Friday promotions. However, although these deals are eye-catching and fantastic for customers, they only work for companies with large profit margins or businesses. This is because they are aware that their typical customer makes several purchases each year so breaking even isn’t a problem.
- Bundle your items: This isn’t a black Friday marketing tip you’ll hear every day. Creating bundles or grouping similar or complimentary items is a terrific method to promote sales. For example, you can create bundles and discount them rather than give discounts on individual household items. Remember that consumers constantly seek ways to obtain more value for their money. If customers can, for instance, acquire five things for the price of three, this will always be a more appealing offer than buying individual items. In a way, this is a similar approach to upselling.
- Create a value-add: The value-add offer model is excellent for maintaining your standard price while also sweetening the transaction by including something else with the purchase. This pricing strategy is comparable to offering bundled products at a discounted rate. The difference is that the consumer receives more value for the same amount of money in this case. There are quite a few methods to add value to anything without spending a significant amount of money or cutting your profit margins. You simply have to be creative and open to new ideas.
- Freebies for the early birds: A simple way to entice customers to your black Friday sales is to add freebies for the early birds. In fact, it is common to see businesses offering different discounts for early birds. Jumia is one e-commerce store that has perfected the early bird strategy. Giving black incentives to early birds is not a bad idea. Another advantage the early bird marketing plan gives you is word-of-mouth marketing. You should really explore this black Friday marketing tip.
- Segmented Offers: The importance of digital marketing and having a digitized framework for your business becomes evident with segmented offers. While giving discounts for black Friday is a given, how about you use it as an opportunity to celebrate loyalty? If you have a website or use CRM platforms, then surely you already have a customer list. You can then create offers specifically for your existing customers as a reward for having patronized you in the past. A separate offer will also be created for new and potential customers. In fact, you can go a step further by using this method for your black Friday retargeting ads. Get those purchase events firing. This should also help your business with customer retention.
Start getting the word out early.
It is one thing to come up with black Friday marketing sales ideas and strategies. It is another thing to actually put your business in a position to benefit from the period.
The big companies spend all year preparing for Black Friday and you should look to emulate that. Yes, as a small business owner you can’t plan all year but how about a couple of months before November?
This gives you time to not only come up with strategies but also post ideas to keep the black Friday theme.
This is how you do it:
- Create intrigue earlier: You should not wait until the week before Black Friday to publicize your appealing bargain. It would be best if you started as soon as possible but not too early. Start dropping hints and teases that there will be an offer that completely changes the game at the beginning of November, or perhaps sooner.
- Social media campaign: Beginning ten to fourteen days before Black Friday, post clues and teasers on social media about the enticing deal you will be making. Utilize Facebook Ads to broaden the reach of your social media postings.
- Email Marketing Campaign: Be sure to get in touch with your existing and previous consumers to inform them about your campaign. By using an email marketing automation technology such as Keap or Mailchimp, you can personalize the content of your messages to particular subsets of your customer database depending on the customer’s previous purchases. If your good or service is more of a one-time buy, you may reach out to previous clients through a different line of communication and ask them to recommend you to the people they work with and socialize with.
- Use Offline Marketing: Admittedly small business owners may not have the budget to get offline marketing media like billboards, print ads, flyers and the likes. But should you be able to get a good deal, it is worth exploring especially for businesses servicing a particular locale. It is an excellent method for getting a message in front of existing and potential clients to generate further repeat business.
- Campaign at the point of sale: One of the most significant marketing possibilities passed up by small companies is the point of sale. The vast majority of small companies put in an incredible amount of effort to bring in new consumers but typically do little to ensure that they gather customer information or provide an incentive for those new customers to return. One of the many additional Black Friday marketing suggestions is creating promotional materials, such as a flyer, business card, or other collateral pieces that advertise your Black Friday deal. In the weeks preceding Black Friday, you can start including this promotional item in the customer packages you send customers and the bags you provide to consumers when they check out of your store.
You must devise an appealing offer and begin awareness-raising efforts many weeks in advance if you want to make the most of the weekend that sees the most spending of the whole year. Only then will you be able to capitalize on this opportunity ultimately.
Most strategies and concepts discussed here can be carried out with little financial backing. This black Friday and cyber Monday season, it is essential to be innovative and position your small company in a way that will allow you to profit from the buying frenzy.
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