Black Friday is essential to small businesses. According to the National Retail Federation, consumers spent an average of $423 on Thanksgiving weekend in 2012. This total is $59.1 billion (a 13% rise from the previous year).
The Black Friday shopping season will begin early this year on Friday, Nov. 29. Retailers will offer attractive discounts and bundle services to lure shoppers. The shopping community buzzes with Black Friday rumors, leaks, and analyses.
As a Black Friday regular, I can confirm that it is thrilling for many shoppers to find the best deals and enjoy people-watching as eager shoppers camp out in front of the store the night before.
What about small business
Entrepreneurs cannot compete with large retailers who make Black Friday successful through aggressive marketing and substantial advertising budgets. Small businesses can also benefit from Black Friday.
Black Friday can be an excellent opportunity for small businesses. The key is to market your business creatively and position your product or service as valuable.
You can still increase sales in a meaningful, calculated way.
Discount your services and products, but don’t go overboard
Discounting your highest-margin products and services is tempting. Don’t. Wal-Mart, Best Buy, and Target are not your competitors. Bundle more value in what you’re selling.
You can do this by offering complimentary warranties or extending your guarantee. This reduces the perceived risk of a purchase in the minds of buyers. You can give the impression that you are offering a discount by valuing your actions.
Engage with your customers in meaningful ways
Imagine the authentic, personalized marketing that took place during Black Friday. It’s a time when people are so focused on the price that there is little room for human-friendly marketing. A one-to-one connection with customers and prospects can be valuable because it will make you stand out.
Do something friendly and personal for your best customers and prospects. Consider writing a handwritten note of thanks and wishing your best options and customers a wonderful Thanksgiving. Tell them how much you appreciate their help during the holidays. Don’t try to sell to them. Just be honest with your customers and prospects. You might get some hot leads to show up and buy.
Use guerilla marketing
Small businesses can be more creative and risk-taking. Do you sell baked goods, coffee, or cupcakes? You can also hand out a flyer at your local Wal-Mart to remind people they can still buy your products after Black Friday.
There’s no need to put business cards on people’s car windows. Be friendly and genuine, and make someone’s day better. You could even give out free hot chocolate or coffee to shoppers in a frenzy while having your business card on hand.
Useful
The consumer will receive hundreds – if not thousands – of marketing and sales offers. You can engage people and stay top-of-mind by being helpful. This will also create memorable experiences that they’ll tell others about. Your audience will trust you as an authority in the field by being generous.
You can add value by demonstrating your skills. Whether you are a traffic reporter in your area, help people decide between LED and LCD TVs, or find the best deals on products and services that your customers want, there is no doubt that you will be able to demonstrate your abilities.
Do not aim to attract new customers
Don’t even think about acquiring customers. You’ll keep spinning your wheels without ever getting anywhere. Instead, focus on those who have done business with your company. Why? It’s much easier to increase sales if you market to previous customers.
How? Analyze your customers. Consider the customers who spend the most, buy the most often, or are long-term supporters. Send a segmented, targeted email explaining their VIPs for your company. You are willing to give a discount to show appreciation or offer an exclusive bundle.
You’ll see that your customers feel rewarded as if they earned a discount. This often leads to repeat sales. Send them a postcard or make a phone call to show your appreciation.
Social media and email marketing: Harness the power of both
It’s a no-brainer, but it is essential to utilize the social media platforms that your customers are using. Email is social. People share emails with friends, forward them, and talk to their friends about specials.
Create a valuable and engaging email campaign for your customers and prospects. Your offers will be more personal if they are better targeted. Be brief. The average consumer doesn’t have the time to read a 1,500-word email.
Consider search engine optimization (SEO)
SEO may not bring you many new customers on Black Friday, but it can help your website stay visible throughout the holiday season. When consumers search for a product’s model number or feature, they do so with intention. Intent is when a consumer searches for a product’s model number or features with specific intent.
Google and Bing do their best to present accurate, timely information to their users. Structured information is one such piece of data coded onto the website. Structured data can include… You guessed the product name, model, features, price, and location. This data is displayed differently in search results, promoting content visibility on your website.
Strengthen your business and build relationships on Black Friday
You need to consider your ultimate goal as a business owner. Black Friday is a way for many retailers to close their revenue gaps in a single weekend. Smaller businesses are focused on rekindling relationships with customers and providing better value.
Consider developing a customer lifecycle to ensure you can follow up with every customer and prospect. This will help your Black Friday campaign last longer and bring you more value throughout the year.