It may have started off as a one-day extravaganza. However, for some brands, Black Friday has now become a month-long event, offering the opportunity to entice new and existing customers with tempting deals. For companies of all sizes, this month offers the chance to showcase their brands and offerings to those looking to secure seasonal bargains in the lead-up to Christmas.
For small business owners, taking part in Black Friday can often seem too much of a daunting prospect, with many understandably concerned that their infrastructure is not adequately prepared to take on such a task.
That being said, there are multiple benefits to businesses of all sizes jumping on the Black Friday bandwagon, and with the current economic climate and ongoing cost of living crisis, 2023 may be the perfect time to do so.
So, whether you’re looking to entice customers to opt-in to regular updates via newsletters, shift some unwanted stock, or increase site traffic to your company website, Nick Drewe, retail expert and founder of online discount platform Wethrift, has compiled a breakdown of some easy-to-follow guidelines, aimed at helping small businesses execute a streamlined promotional event this Black Friday:
Create some social media buzz across multiple platforms
Regardless of the volume of your engaged audiences across the likes of Instagram, Facebook, or TikTok, do not underestimate the power of social media when it comes to promoting your Black Friday deals.
Be sure to keep followers engaged by teasing the build up to deals and discounts that you plan to drop throughout the lead up to the day itself, and keep them updated on what’s selling fast or in high demand, to encourage them to make any purchases they are tempted by sooner rather than later.
The content you post across your social platforms can be organic, paid, or a combination of both, but with competition around this time of year extremely high, consider upping your typical social media investments. This will allow you to stay at the forefront of consumers’ minds who will, no doubt, be inundated by brands vying for their attention.
Monitor your direct competitors
Whilst it’s important to stick to your own brand values and messaging, use Black Friday as an opportunity to stay informed on the kinds of promotional activities and marketing techniques your competitors are implementing during the Black Friday period, and consider tweaking your own strategies to align with theirs.
By offering similar – or slightly better – deals to potential customers, your deals won’t pale in comparison to those of competitors. At the same time, you won’t be seen to be undercutting fellow competitors with brands that could be deemed as ‘too good to be true’ in the eyes of savvy Black Friday shoppers.
Offer loyal customers something ‘extra’
For those ‘special’ customers already subscribed to your mailing lists, a tactical way to reward them and encourage brand loyalty is to offer exclusive discount deals before they are advertised anywhere publicly.
These can be tracked using promotional codes at the checkout, or through specific pre-Black Friday deals, or on targeted products selected just for them based on their previous purchase behaviour.
Extend the seasonal offers with additional promo codes
Targeting new customers to buy from your business during Black Friday events can be a hugely beneficial way to boost sales in the lead-up to Christmas, but how can you ensure they will return at a later date?
Implementing a promotional voucher or code that can be used during the weeks and months following Black Friday can act as a useful incentive, encouraging customers to return again, perhaps to stock up on any last-minute Christmas purchases, spend any gifted money, or to make the most of the new year sales.
Bundle your products to entice extra spend
If possible, group together products often purchased together to create a ‘bundle’, as this can be a great way to entice customers to part with their hard-earned money through your site or store.
With the current financial uncertainty and consumers more keen than ever to ensure they are securing the best possible deals, the chance to secure multiple bargains of Christmas gifts in one go will, undoubtedly, be tempting to busy shoppers with limited time.
Promoting bundles as gift sets that will arrive ‘just in time for Christmas’ or adding a free gift or product alongside the purchase can also help to secure a purchase from already tempted shoppers.
Identify the stock you’re struggling to sell
Many well-seasoned Black Friday shoppers will be able to identify the brands or companies that are merely using the event as an excuse to shift any stock that hasn’t been selling at its current RRP. Despite this, this should not discourage small businesses from promoting certain lines or products with disappointing sales alongside other more popular, or newer ranges, to make your intentions seem less obvious.
