It doesn’t matter what industry you’re doing business in – Black Friday and Cyber Monday are a big deal! These days offer unbeatable marketing and sales opportunities, and you need to be prepared to make the most of them.
In 2021, Black Friday sales reached $10.4 billion. You want to cash in on that, right? Of course, you do, and this article will guide you in the right direction.
What is Black Friday?
"Black Friday" is the term used to refer to the first Friday after Thanksgiving in the United States. This day marks the beginning of the Christmas shopping season and a day when retailers offer generous discounts and special deals.
When is Black Friday?
In 2022, Black Friday sales will take place on November 25th, but they can start on the 24th (depending on how eager businesses are to get customers).
Black Friday vs. Cyber Monday
"Cyber Monday" is a marketing term that mostly refers to online transactions on the Monday after Thanksgiving. In 2022, Cyber Monday will be on November 28th. Even a small business Cyber Monday event can be big — as big as Black Friday.
5 Ways to Prepare for Black Friday and Cyber Monday
Here are some ways you can prepare for Black Friday and Cyber Monday:
1. Know Your Customers
It’s vital that you know your existing customers and have a good understanding of your industry so you can attract new customers. Try building a customer persona to help you understand customers' motivations, pain points, and challenges.
Issuing polls and surveys via social media or email campaigns can help you to better understand what kinds of promotions or products your customers are seeking. Of course, be sure to gather research online using search engines or social media—take advantage of using the search tab and clicking on various hashtags—before directly reaching out to customers, as this can help you better formulate topics and questions to approach your target market with.
2. Start Planning Early
Many companies start their Black Friday campaigns in early November, and you can do that too. This way, you can create a sense of excitement around your Black Friday sale. Frequent social media posts and updates, interesting and creative email marketing campaigns, and even email newsletters can be sent out during your campaign to boost sales.
3. Stock Up on Your Bestsellers
It’s a special time of the year, but that doesn’t mean you can’t sell your current stock or must come up with something new. In fact, you should make sure that all your best-selling items are in stock to prepare for the holiday shopping season (as they'll likely be the most popular). Be sure to order enough inventory as early as possible – you don’t want to risk the inability to purchase inventory because your competitors beat you to it or the risk of running out of your best products because of high customer demand.
Investing in greater amounts of inventory can put a strain on your wallet, but taking out funding designed for this very purpose is a solution for any business owner who wants to increase cash flow, grow business credit, and jumpstart that sales increase!
- Control what you draw, when you draw, and what day you pay
- Can make repayments early without penalty
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- Pay minimal interest rates
4. Decorate Your Store and Website
Your website is essential for Cyber Monday deals, but it can be just as important for your Black Friday marketing strategy. Make sure your eCommerce site or online store is decorated accordingly. You may want to try updating your logo’s colors and design, adding additional landing pages to your site, or publishing blogs and shopping guides with tips.
If you have a brick-and-mortar store, it should also be decorated to attract customers. If you’re expecting a high level of foot traffic, try accommodating customers by investing in rope safety barriers or additional seating for people waiting in line. Remember that Idea Financial supplies small business owners with the working capital necessary to invest in supplies for their business!
5. Provide a Unique Offering or Experience
Holiday sales success often comes from offering something unique. So, think carefully and come up with awesome Black Friday and Cyber Monday ideas your customers won't be able to resist.
Limited-edition product bundles or special packaging at a discounted price are often sought out by prospective buyers looking to purchase holiday gifts for their loved ones. For businesses with a storefront, delivering a memorable shopping experience is a fantastic way to attract customers. Some examples include positioning gift wrapping stations near the exit, setting up a free-to-use photo booth, or even serving refreshments and small bites to your store’s visitors!
Black Friday Advertising Tips
The following tips will help you improve your marketing efforts for Black Friday and Cyber Monday:
1. Get Active on Social Media
Social media can play a big role in your Black Friday marketing campaign, and you should use these platforms to create buzz around your brand. Posts on Twitter, for example, can be great at promoting sales even if your business is still small and growing. Use these social platforms to engage your audience and push them to your sales.
Aside from harnessing social media to announce the types of promotions you’ll be offering on Black Friday and Cyber Monday, you can further engage your online audience by building up buzz with fun content strategies! Try activating countdowns for when your sales commence, creating Instagram reels or TikTok videos showcasing your products or storefront, issuing polls, and sharing tips on how your customers can make the most of these shopping events.
2. Offer Unbeatable Discounts
Holiday sales promotions are all about special deals and discounts, and that’s exactly what you need to offer your customers. Numerous stores across the nation will try to lure in customers by offering their best deals and discounts on Black Friday and Cyber Monday, so it’s critical that you find out what your competitors are doing and plan to offer similar or more attractive promotions to gain a competitive advantage over other businesses targeting the same market.
Here are a few ideas for discounts you can use:
- Buy-one-get-one-free (BOGO) promotion
- Fixed amount off
- Buy more, save more
- Percentage off
- Discount coupons for orders over a specific amount
- Special discount codes for VIP customers
3. Offer a Free Gift
People love freebies, and your customers will appreciate it when you offer them a gift for free, especially if they’ve been buying from you for a while. You can do this by giving customers a free product or an extended discount when they spend a certain amount of money.
Free gifts are also a clever strategy for introducing your audience to new products — resulting in more upcoming sales. Samples give customers the taste of new products you’re experimenting with, and they can also spotlight your star products to new customers.
4. Publish Black Friday / Cyber Monday Gift Guides
This is one of the most unique Black Friday ideas for small businesses, and it’s easy to pull off as well. You can make gift guides based on gender, age, interest, and any other criteria that might be applicable to your audience. Of course, remember to be cognizant of how your gift guides may be perceived by each segmented group.
Gift guides can be printed into pamphlets and handed out to customers as soon as they enter your storefront on Black Friday, or you can create a landing page on your website where users can find and download them. Be sure to promote your gift guides on social media or via email campaigns, as this can make for fantastic content to entertain and educate your target market.
5. Invest in Flexible Shipping and Pickup
Small business owners can get an edge over big companies by deciding to offer free shipping. Of course, you don’t have to give free shipping to everyone – perhaps only to your most loyal customers. You should also think about flexible pickup arrangements, such as making deliveries and collections contactless. Promoting discounted shipping and flexible pickup arrangements on social media are great ways to incentive customers to shop from your business.