It’s that time of the year again, retailers are enjoying one of the busiest days of the year. Black Friday has become one of the most demanding retail events worldwide. Businesses offer significant discounts on a wide range of products, which not only helps clear old stock, but it attracts new customers, and maintains customer loyalty.
Black Friday is an event that started in the United States. In 2010, Amazon introduced the day in the UK to boost sales during the Christmas period and replicate the success it had in the US. In 2013, it became a mainstream event after Asda introduced in-store sales. It wasn’t until 2014 that other retailers got involved, and now, it is a date to mark in the calendar.
The benefits of Black Friday for businesses
Black Friday offers an increase in sales, which will create a positive customer experience and naturally boost cash flow. More consumers buying from a site or shop allows business to clear old stock and boost customer acquisition. The day also offers brand visibility when consumers are actively looking for offers. It is the perfect time to focus on grabbing the attention of your target audience by landing in their inbox and social media timelines.
This is the ideal time to hook dormant customers. By offering personalised offers to existing customers can reactivate their involvement with your business and push them to make purchases throughout Black Friday. It also provides businesses with the opportunity to build long-term customer loyalty and gain a head start on Christmas sales. Due to increase in sales, it allows businesses to attract new customers who come across their business when on the hunt for deals.
You can also use Black Friday as a day to see what communication strategies work best for your business. You can gain insight to see what platforms convert the best: Whatsapp, emails or push notifications. This will help prepare you for the Christmas period.
The benefits of Black Friday for consumers
Black Friday offers consumers the chance to make purchases they may not be able to make at any other time of year. Sometimes the discount can reach 50% or even 70%, making it an attractive event for budget-conscious shoppers.
From clothing to electronics, Black Friday allows the consumer to get a head start on Christmas presents, savings make it possible for consumers to make purchases they might not otherwise be able to afford. The mass sale event is the perfect opportunity to make purchases on necessary items like clothing or home appliances at a discounted price.
How to make the most of Black Friday
It is important to ensure that businesses time their strategies correctly and use the right marketing tools to reach customers. We have put together a few hints and tips that we believe can make a real difference to the success of your Black Friday sale.
Start early and make it last.
You can make the most of Black Friday by extending your offers throughout the weeks leading up to it. You can save one exclusive deal for Black Friday itself. This can capture customers who hold out for the actual day, even after Black Friday, Cyber Monday provides another opportunity to make purchases at a discounted price.
Creating teaser campaigns, early-bird offers, or exclusive access for subscribers in the weeks leading up to Black Friday is an important way to maximise opportunities. This creates a build-up and anticipation, helping you grab customer’s attention for the offers you are sharing.
Make it benefit you
Black Friday should work in your favour as well as in the customer’s favour. Instead of discounting your entire online store, create a Black Friday section and assign this attribute to all the products that are old stock or surplus items. Applying the reduction exclusively to these items ensures you don’t reduce the value of any newer lines and allows the customer to find the best deals directly, making their shopping experience clearer.
Discount codes
Create discount codes that are released on all marketing materials and clearly on the website. If you have a 25% margin, reduce everything by 15% and then offer an extra 10% at checkout with the coupon code. Customers feel special when they see the reductions they are getting are over and above the norm, and the perfect way to do this is to use discount codes.
Use the full marketing mix to attract your target market
Black Friday is the perfect opportunity to retain customers after the event, therefore, it is important to try multiple forms of promotion to maximise your chances of sale. It is important to keep existing customers in the loop on sales. This can be achieved through email, SMS, or social media posts that let them know which discounts are available. You can also create a banner on your website’s homepage to make it clear which offers are live.
It is essential that your brand carries across all media to ensure synergy with your campaign. Using paid media for a short period can help attract new users at a lower cost. Your business could also run an intense Google ad campaign for just the week your offers are active, or a 5-day social boost is a great way to expand your target reach and increase your following.
If you run an online shop and want to maximise the opportunities available on Black Friday next year, we can help your business make the most of the event with a range of marketing strategies. For example, we can create compelling visuals to showcase your offers, upgrade your website to improve usability, and provide SEO and online marketing to help your site rank higher. If you would like to learn more about what we have to offer, please contact us.
01952234004
