Top Black Friday Deals Ideas for Businesses
Black Friday and Cyber Monday are the two busiest days of the year for US consumers. This means that small businesses like yours have a great chance to take advantage of the hustle and bustle and see massive increases in sales.
7 Steps to Improve your Black Friday Deals
Most companies see a slight increase in sales on Black Friday and Cyber Monday without much additional effort since 55 percent of consumers plan to visit stores on shopping days such as Black Friday or Cyber Monday.
The National Retail Federation produces an annual report on vacation spending, and in its 2013 report it found that 20 to 40 percent of annual sales for small and medium-sized retailers are made in the last two months of the year!
Furthermore, according to blackfridaydealspoint.com report, 61% of people plan to purchase on Black Friday during cyber week.
Are-You-Ready-to-Capitalize? Vacation spending has increased significantly over the past four years. In 2013 vacation spending increased 3.1 percent and this year's spending is expected to increase 4.1 percent.
Also, during Black Friday Cyber Monday online sales increased drastically due to COVID and worldwide heavy digitalization. According to ecommercesuggest Ecommerce Market Statistics, 81% of shoppers research their products online before purchasing. That's why it's important to have an online presence too.
1. Create a compelling offer
As you know, the crazy deals fuel the Black Friday shopping frenzy. Buyers have been trained to expect huge discounts and great deals. That being said, getting a heavy discount on your product isn't the only option, and often not the best way to create a compelling offer. People are looking for deals, but most of all people are looking for the best value for money. It is important to take this into account when preparing an offer. Making an irresistible offer is about making the customer feel like they're getting the maximum value for their dollar.
You can use the funnel marketing strategy to sell more products to your audience.
2. Bundle your products
Building bundles of your products is a great way to increase sales. Remember, people are looking for more value for their dollar and if a customer can get five products for the price of three, for example, it can be a compelling offer.
For example, we see cellular companies like AT&T and Verizon often doing this with new cell phone sales. For just $ 60 more, you can get a phone case, car charger, and a pack of screen protectors. The phone case alone is $ 50, so the bundle with everything else only adds up to $ 10 more.
Where in your company can you package up products and create offers that will get your customers to say to themselves (or out loud), “What a deal!”?
3. Early bird competition
We've all heard of the Black Friday 'door-breaker' horror stories, so use caution here as you come up with other Black Friday marketing ideas. While it's fun to joke about people who go crazy the day after Thanksgiving, their behavior shows that these types of promotions are very effective. These are people who were sitting at the table with their families less than 12 hours ago talking about how grateful they were for what they had and are now pushing each other out of the way to get more. I can't think of a greater contrast to show the effectiveness of the marketing than here.
Rewarding the early customers with an added bonus is a great way to grow and maximize the word of mouth marketing that will develop from your compelling offer. 62 percent of shoppers tweet about their purchases.
4. Build up anticipation early (but not too early)
The bottom line is that you shouldn't wait until the week before Black Friday to promote your irresistible offer. Start teasing or hinting that there will be a breakthrough offer in early November - or sooner.
5. Social media campaign
Post tips and teasers about your irresistible offer on social media, starting 10-14 days before Black Friday. Use Facebook Ads to expand your social media posts with people who like your page and friends of people who like your page. Once you reveal your irresistible offer, invite people to share the deal with their friends. Note: You cannot make sharing a requirement to redeem a special offer.
6. Email Marketing Campaign
Make sure to contact your current and past customers to let them know about your promotion. An email marketing automation tool like ConvertKit can tailor your messages to specific segments of your database based on purchase history. If your product or service is more of a one-time purchase, you can contact previous customers with other messages and ask them to refer you to their co-workers and friends. To maximize referrals, create an incentive to get people to act.
7. Point of sale campaign
Point of sale is one of the most missed marketing opportunities for small businesses. Most small businesses work hard to get new customers into their doors, but do very little to ensure that they are gathering customer intelligence and incentivizing new customers to come back.
Creating a flyer, business card, or other document promoting your Black Friday offer is among many other Black Friday marketing tips. You can start by putting this piece of marketing in the boxes you ship to customers and the bags you hand over to customers at the checkout in the weeks leading up to Black Friday.
Another point of sale strategy is to put together a sweepstakes or contest that people can enter to win.
Final Thoughts on Black Friday Deals Ideas
The key to being successful in all of these marketing initiatives to get the awareness of your Black Friday offer is the word campaign. Sending out a tweet, email, or flyer is most likely not going to get massive results. You need to set up a campaign that gets your message across to your prospects and current customers more than once.
In order to get the most out of the busiest weekend of the year, it is essential that you create an irresistible offer and start raising awareness weeks in advance. Most, if not all, of the ideas and tactics I've shared with you in this post can be implemented with limited financial resources. Be strategic and position your small business to capitalize on the shopping spree this holiday season.