How to make the most of Black Friday
How can retailers make the most of the opportunities that Black Friday brings?
Black Friday is one of the most highly anticipated shopping events of the year, when consumers can enjoy discounts on a huge array of products. But how can retailers make the most of this opportunity to boost sales, raise brand awareness and move stock to make way for new items?
Whatever the size of your business or customer base, you can still use Black Friday as a springboard to greater brand awareness, increased loyalty and sales growth. At this time of year, consumers are expecting brands to promote their offers and are much better disposed to receiving – and acting upon – sales messages. That’s why it’s worth applying discounts and making a big splash across all your channels, from social media to e-shots and physical collateral like flyers and posters. With consumers more likely to be ‘warm’ to your sales messages, it would be a shame to miss out.
Black Friday deals are often applied to the key consumer goods categories: electronics and IT, fashion, cosmetics, household appliances, sports equipment, toys and games. But whatever you’re selling, you can still catch the consumer’s eye with the right messaging.
If yours is a start-up or you’re still building your audience, think of Black Friday as a boost to your marketing efforts, a foot in the door. Even long-established brands that pride themselves on customer loyalty can still leverage consumers’ curiosity and perhaps gain themselves some new fans.
It’s not all about discounts
Black Friday is also a chance to look at your product range and move inventory to make way for new stock. If your summer sale has resulted in leftover stock that you need to shift, consider a ‘30% off all sale items’ promotion for Black Friday or even throughout November.
On the other hand, if you want to grow your reputation as the go-to retailer for the best deals on cutting-edge tech, make sure you’ve got your offers lined up (and your warehouse well stocked) before October’s out. Once consumers decide they want to buy, if you’ve run out of what they want they will go elsewhere – even if it means paying a bit more. You don’t want to miss out on their custom.
It’s not necessary to discount your products to tap into Black Friday energy, either. Consider instead giving away samples with every item purchased, or starting a loyalty club and offering every new customer a certain number of free points with every purchase during November. This is a great strategy for smaller or new businesses who want to reach a wider audience without direct impact on their profits.
Say it loud
The benefits your brand gains from its Black Friday promotions go beyond additional sales. This is an opportunity to enhance your reputation and promote your values. With the potential for greater audience reach, your marketing activity should amplify your brand, both visually and in terms of key messages.
This is also a chance to showcase your customer service, as well as the quality of your products. In short, think of Black Friday as a platform for broadcasting your brand’s personality. Ensuring a smooth online purchasing journey for your customer is also essential at this busy time, as well as a seamless returns process.
There’s a quid pro quo element to this, too. Because you can ask your customers to do something for you in return for your generosity in discounting your products or offering added value at this time of year. There’s no denying power of positive reviews on Google, Feefo, Trustpilot and similar sites: recent research shows that more people are likely to trust product reviews from other customers than from industry experts, professional reviewers and companies or brands. And if up to 95% of consumers read online reviews before buying, your brand should be looking to gain as many positive recommendations as possible. That’s why offering an incentive for customers to leave a review is a good idea, particularly during Black Friday.
We can help
If your business needs help with order and inventory management, packing, shipping and automating the management of orders and returns, talk to the experts at MBE. We’re also here for your design and print, specialising in digital and physical marketing materials that boost your brand and ensure your messaging is received loud and clear.
Find out more here.