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How Startups Can Cash in on Black Friday and Cyber Monday
For small businesses, Black
Friday can feel overwhelming. It can seem like a day more suited for large
companies that can afford to slash prices and offer special deals. In reality,
there are many ways that a small business can benefit from the number of
consumers shopping over the weekend.
By analyzing your market and
promoting your deals properly, your small business could not only bring in a
huge profit on Black Friday, but also on the days following.
Check out our tips on how your
small business can cash in on Black Friday:
Keep an eye on the big companies
While your small business may not
be able to match a large company’s budget or offers, it can be very beneficial
to see exactly how the big guys are getting people in the door. Afterall, there
is a reason why many large companies have people crowding outside of their
doors prior to their stores opening.
Many of these large companies
have a plan for the weekend of all the festivals. Amazon for example, runs some
of the most successful email campaigns in the business world. Every email that
Amazon sends out is customized to the customer it is sent to, which can entice
the customer into buying something.
There isn’t a large chain of
command to go through with a small business, so you can be more flexible and
creative than the larger companies. Learn what you can from the big
corporations and re-invent their ideas to make them your own, within a budget
you can afford.
Make them an offer they can’t refuse
Black Friday is fueled by the
special deals that companies offer to consumers. This means that your small
business will have to make some kind of offer that will intrigue people enough
to come shop at your store. Everyone loves great door crashers. This does not
necessarily mean that you need to slash your prices to the point where you
can’t make a profit.
There are many other ways to
garner consumer interest. Let’s take offering bundles as an example:
- If you sell a flashlight, include the batteries for free.
- If you sell pizza, you can add in free delivery.
- If you offer a service such as cutting hair, you could add in a free hair product of the customer’s choice.
Try and come up with different
special offers that will help get customers into your store and cash into your
pocket.
Promote, promote, promote!
A great Black Friday offer means
nothing if you don’t promote it. Social media is a great way to get the word
out about your Black Friday special deals. You can share your offers with your
followers or subscribers for free. Marketing credits can also help promote your
small business. Web Service provider companies often offer marketing credits
for free when you sign up for their services.
An email blast is another cheap
option to promote your Black Friday deals. If you have built a fairly strong
email list, you can easily send out an email marketing campaign to advertise
your upcoming deals. There are many email marketing software tools out there
that are affordable and easy to use.
Get personal
As a small business you probably
know your local area and consumers a whole lot better than any big corporation.
When you are sending out your promotions, target local events or locations.
Targeting your promotions can give you a leg up on large companies that may not
know the area very well. If you send out mail or email, personalize it to
everyone that you send it to. It’s a little bit of extra work, but your
customers will appreciate it.
Small Business Saturday & Cyber Monday
Black Friday isn’t the only
important day of the weekend. In 2010, American Express helped create Small
Business Saturday to encourage consumers to buy from local businesses. Make
sure to keep your promotions and special deals going past Black Friday, as you
can continue to cash in throughout the weekend. Small businesses can
potentially have one of their best sales days of the year during this Saturday
event. It has been reported that Small Business Saturday can outperform sales
of other Saturdays by over 200%.
Cyber Monday is another potential
huge sales day that you should get your small business ready for. This “deal
day” is used to promote online shopping, so you may want to ensure that your
ecommerce site is in good shape. Just like the other two saving days, you’ll
want to promote and have special deals ready for Cyber Monday to appeal to your
consumers. In India alone consumers spent over 2.5 billion INR on Cyber Monday.
Festivals are one of the most
important sales periods of the year. It marks the unofficial start of the
holiday shopping season and many people try to get their shopping done for the
holidays during this time. Being prepared for the entire weekend with
promotions and special deals will go a long way to make your Thanksgiving
profitable.
1 comments
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