The busiest shopping day of the year is around the corner. According to Shopify, merchants on the platform made over $2.9 billion in revenue all through the shopping weekend last year.
Black Friday might have had its beginning in the United States, however, it has become very well known in Nigeria and other African countries in recent years. Each year, Black Friday sales reach a new peak as more small businesses and countries are participating in the renowned American style shopping frenzy.
In 2021, it's simply going to get busier—however in a new and strange way.
During a worldwide outbreak, numerous physical stores sensibly decided to move Black Friday online. More and more shoppers will currently queue in virtual stores this year to keep away from close contact.
This means a spike in online Black Friday traffic and a great deal of potential revenue for e-commerce businesses of any size.
To help you get ready for the strangest Black Friday ever, we gathered a great rundown of high converting Black Friday strategies for small businesses to inspire your upcoming Black Friday campaign.
Is Black Friday profitable for Small Businesses?
Black Friday can be profitable for small businesses. A winning Black Friday campaign with offers can lure shoppers to your site and sell more products — hence increasing profits, despite lowered prices. The key is reaching your customers before the huge event and keeping them engaged with your brand.
When would it be advisable for you to promote Black Friday sales?
The reality is, don't delay until the week before Black Friday to begin promoting your irresistible offer. Begin teasing or hinting that there will be a game-changing offer toward the beginning of November - or sooner.
What pricing strategy is Black Friday?
High discounts of 20%, 30% or half are exactly the thing customers are expecting on Black Friday. A countdown can be easily implemented, adjusted rapidly, and communicated clearly through your website or utilizing email. However, level rate discounts don't work no matter how you look at it when it comes to turnover or profit, even on Black Friday. Customers react differently to price changes depending on the product, so set differentiated discounts on articles based on their price elasticity. For example, items with excessive cost elasticity ought to be given higher discounts. Your best bet is to limit items that have a high profit margin.
Benefits of Black Friday for Small Businesses:
Aside from the expected sales increase, there are multiple benefits to participating in Black Friday for private companies.
(a) Increased traffic and sales due to Black Friday campaigns.
(b) Gaining new consumers through offers, social media buzz, giveaways and that's only the tip of the iceberg.
(c) Incremental sales utilizing promotions, discounts, etc.
(d) Reduce seasonal inventory, since early shoppers are looking for a great deal. This means they are likely to purchase products from past seasons at a discounted price — the perfect chance for you to move your older inventory items without compromising your brand.
How do Small Businesses prepare for Black Friday sales?
1. 2021 will bring the oddest Black Friday of our lives. Small Businesses need to take extra activities in multiple dimensions to inspire consumers to trust them this odd year.
2. Begin marketing your brand early to reap more sales and engage customers with emails, SMS blasts, blog posts and in-store specials (if blocks and concrete).
3. Integrate and personalize your Black Friday Marketing campaign to tailor to your targeted audiences. For example, for returning customers, suggest products that are on sale or bundles that other customers with similar interests have purchased.
4. Set a countdown clock to create urgency for sales that are both starting (to create anticipation and excitement) and for sales that will before long be ending (like an early bird sale, etc) which creates a sense of FOMO.
5. Use an omnichannel approach. Despite proven benefits, most private ventures today have not adopted omnichannel marketing and selling. This means missing out on sales.
Great small business Black Friday Marketing ideas 2021:
1. Run an omnichannel Black Friday campaign:
Numerous consumers prefer to direct their research online and purchase in-store, or vice versa. Smooth progress between online and physical stores, desktop or mobile, is an unquestionable requirement to stay away from customer disappointment and lost sales.
An example of a brand with a stellar omnichannel occasion campaign is Disney. In the first place, vacationers start on Disney's mobile-friendly website, where visitors can design their uniquely crafted dream occasion plan within the My Disney Experience account. When visitors arrive at the Disney destination, they can link the My Disney Experience account to a brilliant wristband called the 'MagicBand'. It contains a touchpoint sensor and awards visitors directions and access to theme parks, hotels, and attractions that visitors have planned within the trip.
How: Running an effective omnichannel marketing campaign to work requires a vigorous CRM ability. One that tracks your customers across different stages of their purchase lifecycle, which provides you insight on when to best engage with each customer. A marketing automation platform, like ContactPigeon, centralize all customer interactions (e.g., web behaviours, campaign interactions, eCommerce exchanges, etc) in a single repository. The customer data is captured within the platform to run segmentation and trigger marketing messages consequently.
2. Create mixed product bundles to increase profit margin:
Product bundling works because it gives shoppers a sense of getting a great deal. Furthermore, bundled pricing permits private companies to bundle high margin products alongside ones that are low margin to increase profitability. A win-win for the two sides.
How: Consider which products go well together from your product offerings and create the bundle based on products that are complementary to each other (e.g., matching top and base, products frequently purchased together, etc).
3. Contact your subscribers every day during the Black Friday week:
During the days leading up to Black Friday, shoppers are flooded with offers discounts, giveaways and that's just the beginning. To remain relevant, your brand needs to keep up the frequency of the touchpoints and be more creative in your messaging.
Communicate valuable information about your sales offer early on with clever content to convince consumers to shop from your brand.
How: Use an automated marketing platform to send personalized emails. You can include countdown tickers for sales beginning and ending, or special early bird deals like presents with a purchase or extra discounts, etc.
4. Create a special Black Friday themed exit-intent spring up:
Set up an Exit-Intent Popup and catch customers before they leave! While exit intent works essentially on desktop browsers, remember that desktop accounts for ~40% of sales.
How: Use Black Friday designs to lure shoppers into staying on your site with great deals. Have a go at something like: "Save 20% off your order NOW!" to see an increase in conversions.
5. Create a Smart Product Recommendation work process based on products seen
This work process will help you re-engage by far most of Black Friday traffic that viewed a product however didn't convert, with month to month/weekly personalized product recommendations.
How: Tackle Browse abandonment by using an automated marketing platform. Thusly, you can suggest personalized product recommendations to shoppers utilizing strategically pitching or up-selling based on the products they have viewed however not purchased. The work process can begin from the Black Friday period yet can continue into the Christmas season or even beyond.
6. Create a Repurchase reminder automation work process for each participating product
This work process will help you re-engage with the customers a few weeks/months later with a relevant message, thereby extracting more value from your Black Friday marketing investments.
How: For products purchased over Black Friday, create reminders utilizing pop-ups and emails using an automated marketing platform. This works great with products that have a short to medium lifetime cycle.
7. Write 3 blog posts featuring 3 awesome upcoming BF deals
Drive potential shoppers to become enticed and more engaged with your brand and, ultimately, to shop your brand on Black Friday!
How: Provide subscribers with relevant and valuable information about your Black Friday sales either on your brand's social media platforms or website... This will make them feel like they are getting the inside scoop on the upcoming sales — a token of gratitude for their devotion to your brand!
8. Email Marketing Campaign
Make sure to contact your current and past customers to let them think about your advancement. Using an email marketing automation device, you can tailor your messaging to specific segments of your database based on their purchase history. On the off chance that your product or service is more of a one-time purchase, you can reach out to past customers with different messaging and request that they refer you to their colleagues and friends. To maximize referrals, put an incentive out there to get people to take activity.
(a) Direct mail campaign
Yep, I said it! Direct mail is one of the most profoundly under-leveraged types of marketing today. It is a great method to get a message before current and prospective customers rustle up repeat business.
(b) Point of sale campaign
Point of sale is one of the biggest missed marketing opportunities for small businesses. Most small businesses strive to get new customers in their entryways, yet do very little to make sure they collect customer information and provide incentives for new customers to return.
Creating a flyer, business card or other pieces of collateral that promotes your Black Friday offer is among a lot more Black Friday marketing tips. You can begin putting this marketing piece in the boxes you boat to customers and the sacks you hand to customers at the register for the weeks leading up to Black Friday.
Another point of sale strategy is putting together sweepstakes or contest that people can enter to win.
In Conclusion
Whether you're looking for creative Black Friday campaign ideas or new angles to improve your Black Friday promotions, We hope you tracked down some fast wins you can apply to your business this year 2021.
Make sure to trigger urgency and shortage with your Black Friday marketing, however, don't drive your prospects into a frenzy like numerous e-tailers do. (We've already been through a ton this year… )
Which one of these strategies will you attempt this Black Friday? Share with us in the comments.
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