Black Friday is a promotion which can offer businesses a huge sum of income. That is if a business does all the right things and prepares well for it. According to Forbes, in 2019 global black Friday sales totalled around $20 billion.
Here at Get Your Mobi, this month’s blog looks at how preparing for Black Friday can help grow your income on the biggest sales day of the year and what steps you can take. For more information, contact us in Lancaster on 01524 63087.
This is a term used to describe business marketing strategies that are designed for this time of year. Although marketing strategy is defined differently, the basic ideas are the same. The main purpose is to give customers unbeatable deals.
Also, it is important to remember that even though you’re selling products at a lower price, this kind of marketing can help with customer care and engagement in the future.
The competition on Black Friday is unprecedented. Every business is fighting to get the customers attention. Timing is key to make sure your offers aren’t lost in a sea of competitors. Getting the word out as soon as possible is a good way to stop this.
The closer it gets to Black Friday, people’s emails will be flooded with offers from loads of different companies. Some companies like to use a tactic of a repeat sale. This where they offer great deals to customers who may of have missed out on the initial sale.
Black Friday is a great way for small businesses to attract new customers and boost brand awareness. With the whole buzz around Black Friday, you can boost traffic to your site. Creating an excitement on your social media really helps this.
Again, although you are putting your prices lower than normal retail prices, it’s important to consider the importance of brand awareness, customer acquisition and customer retention.
As previously stated, making sure you are well prepared will help you execute your marketing strategy effectively. Make sure you look for input from your customers. Then you can be sure you’re offering them deals they ideally want.
If you have any data from previous years, analyse it and see what worked and what didn’t. By going off previous years you can adjust your Black Friday plan accordingly. If this is your first year selling during Black Friday, take a look at highly successful ecommerce brands and try use their models as a path to create your own.
Need some help on how to maximise sales on the biggest shopping day of the year? We’ve got you covered. For any enquiries at Get Your Mobi in Lancaster. Call us on 01524 63087 for more information.
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