The Black Friday has now grown to become a biggest eCommerce sales day of year. The Black Friday offers various opportunities for small businesses to create discounts and deals to attract their customers. Shoppers are striving for discounts and deals. Black Friday not only benefits large businesses, but small businesses also can take part in this cash quest. Every year the rewards for well-prepared retail businesses get bigger.
According to Retail Supply Chain Insights, store associates and physical retail locations remain important for shoppers. Therefore the retail businesses should prepare for the Black Friday sales before the event. And if businesses are not deliberately looking at how they can get more out of a Black Friday sales, they will be failing to get benefit from Black Friday sales.
With the possibility for large numbers at risk and the competition getting harder every year, it would be a huge mistake for retail businesses to show up unprepared. If being a retail business owner you are not prepared for Black Friday sales, here are some of the strategies that you need to follow to prepare for a healthy Black Friday sales.
- Think Mobile
As the mobile population is growing, mobiles are the new avenues to shopping. Retail businesses are jumping into the trend of launching their mobile apps first before developing their online stores. With increasing numbers of consumers using smartphones to shop during the holiday season, your strategies for Black Friday must include optimizing websites for mobile devices with the emphasis on discounts by mobile apps.
- Start Advertising
Customers will focus more on advertising during the holiday season. They know that the Black Friday deals are coming and they are looking to get the best deals. Retail businesses can advertise their products before the Black Friday, so the customers can have an idea about the holiday shopping deals. Most of the online customers usually came from social media channels, as they want to know what type of deals you are offering this Black Friday. Therefore don’t neglect your social channels, start posting deals on your social pages.
- Omnichannel Strategies
Omnichannel retail strategies have ripple effects for businesses beyond the holiday shopping season. This type of sales strategies requires weeks or months to bring you the profitable outcomes. Therefore it is advised to implement Omnichannel strategies months before the Black Friday sales. Most of the retailers said that the Omnichannel customers are more profitable than single-channel customers. When a retail business effectively manages its channels, there are great opportunities.
- Email Marketing Strategy
Email marketing is also an effective strategy and can bring more sales to your retail business. Last year the email marketing brought almost 40% sales on holiday seasons. But, coming up with an astonishing email campaign that will stick out from all other emails that your customers are getting can be challenging. Here are some of the best things that your newsletter should include;
- Clear call to actions
- Use colorful vectors
- Offer free gifts
- Offer discounts
- Use humor
- Create urgency
- Raise awareness to a cause
- Social Media Strategy
Social media is an important channel for promoting your brand, and raising awareness about your products and services. You can share coupons, promotions, contests, and best Black Friday deals on your social media channels using the appropriate type of hashtags such as #blackfridaydeals, #blackfridaysales #blackfridayrush, #blackfriday. Additionally share holiday themed content on Facebook, Twitter, Instagram and Pinterest.
Some Tips for SMEs on Black Friday
- Create some excitement by adding a countdown time to your store or website, to build anticipation ahead of the event
- Use it as a chance to get rid of out-of-season or surplus stock that’s just sitting in storage at the moment, taking up room you could be using for newer items
- Give customers a good deal, but don’t try to price-match big players like Amazon or Black Friday will just become unprofitable
- Consider increasing the number of staff on schedule during the day to make sure customers are served quickly, especially if you have an online business alongside stores
- Write down your key lessons about what worked and what didn’t right after the event, so you can revisit them next year in preparation for Black Friday
If you are a retail business and looking to stock up your inventory for Black Friday, but scarcity of funds is your problem, get a business loans from Merchant Advisors. For more details, please call us on our toll free number (833) 827-4412. Alternatively, get your free online quote by filling our online application form, if you’re ready to apply for a business loan.