Have you prepared your business for Black Friday sales? I am sure you have already noticed the vast array of offers from all sorts of businesses and items, from electronics and home appliances to fashion items and skincare products. The big question is, as a small business owner, should you jump on the bandwagon?
First, with Black Friday around the corner, you might be getting to this party a little bit too late. Some businesses have turned this from a single-day occasion to a whole month of discounts! Have you seen or heard about Black November? I have.
But, that’s not to mean you can’t take advantage of the remaining few days to Black Friday and boost your business’s sales. If you can do it, you are in a position to increase the cash inflows of your business. And remember what we said? Cash is King.
Are You Ready to Make Money This Black Friday?
If that’s a resounding ‘YES,’ I’ve got your back. So, below are a few tips to get you started and make your business Black Friday sales a success:
Do You Have Enough Stock?
You definitely don’t want to deal with a situation where everyone is ordering an item, and it runs out within an hour. So, before starting to put all this Friday Black sale planning into place, ensure you have enough stocks.
The best strategy is to have a sale for a product that is high selling. If its demand is usually high during the regular season, imagine how it would sell at a discount. However, ensure that you don’t overstock your items. That way, you will not be left with unwanted inventory, especially if it’s not a high-selling product.
If you do not have one yet, get accounting software that can help you keep track of your stocks. This way, you will know how much you have left at any particular time and communicate to your shoppers in advance when you run out of stock.
Related read: Advantages of online accounting software for SMEs
Start Building up The Anticipation and Excitement
It is still not too late to start building up anticipation and excitement for your products. This is where your social media marketing comes into play.
Start by creating engaging content, like cute images and posters of some of the items you’ll be selling at a discount. There are several apps and software that can help you with this, like Canva. It has numerous templates that you can use to customize to your preferred design. Also, ensure that your designs match your brand.
Then, start placing targeted ads. Some of the best social media sites to go for include Instagram, Facebook, and Pinterest.
Such content will show your customers and prospective shoppers what to expect during Black Friday. That way, they can start prepping mentally that you’ll have offers and what they can get.
I’d also recommend planning and scheduling what content to post in advance. There are numerous software for this, including Facebook Business Suite, Hootsuite, and Buffer. Some of these have free plans, saving your business coins for marketing.
Send Your Customers a Reminder
Do you have a contact or an email listing? Your existing customers might not know you have a sale for Black Friday coming up unless you tell them. That’s where your contact or mailing list comes in handy. Send out a newsletter or text messages informing them of the deals you will be having. If possible, give them a special discount for being loyal to your brand throughout the year.
Make Your Offers Enticing
Keep in mind that just about every seller will be having a Black Friday offer. So, what makes your offers stand out from your competitors? Why shouldn’t I go to Seller B for the same product?
Unless your offer is enticing enough, customers will opt for what your competitors are offering. You don’t have to make your discount so low that you make losses in the end. But you can make it a little bit more enticing with no or lower delivery and shipping charges, customized messages, beautiful packaging, and such.
Engage With Your Customers
Don’t forget to engage with your customers on social media. Encourage them to share their experiences and images of what they shop for or have already bought. Ask them to tag your business page, geotag the location, and even use a hashtag unique hashtag that mentions your brand.
Take Advantage of Cyber Monday?
While Black Friday is such a huge day in retail, Cyber Monday has become quite as significant. So, if you feel that the Black Friday train might have left the station without you, how about you start prepping for Cyber Monday as well? Second, keep in mind that this has become an annual tradition. So, start preparing for next year’s sale.
It doesn’t hurt to go over everything before the day gets here. This will help you smoothen the process and your customer experience. First, ensure the website is responsive, clean, and ready to handle high traffic.
Second, confirm that the available payment systems are working. It’s also important to explore other payment processing options, especially if you have only one solution. Can your clients pay online via debit or credit cards? Is there an option for mobile payments with the option of payment pop-up on their phones, saving them the hassle of locating the mobile money app on their phone?
Third, have the right staff by your side and be readily available. For instance, who handles your website? What happens if there is a glitch in the system? Will the site be down all day long, or will your customers have an alternative? Also, think about your customer’s experience, especially if they have any complaints.
The bottom line is to ensure you streamline all these processes before you start your Black Friday Sales. Remember, the goal is to cash in on the showing frenzy of the season and increase your cash inflows. Such measures can go a long way in ensuring your customers don’t abandon their carts out of frustration.
Make AI Your Friend
2023 has been the AI year. There are AI tools for almost everything, from content creation for your business’s blog to product descriptions, personalized Ad copy, and landing page copy. Other AI tools you can take advantage of include product image-generating tools, chatbots and virtual assistants, and demand forecasting tools.
To enhance your customer’s experience this Black Friday, invest in such AI tools.