The holidays are just around the corner… and Black Friday’s coming up even quicker!
It’s still a few days away, but Black Friday is already looking different than it ever has before. In an effort to discourage crowds and avoid overwhelming shipping and fulfillment companies, many companies big and small have decided to offer their Black Friday 2020 deals sooner or for a longer period of time.
Still, surveys have shown that most consumers are still waiting for Black Friday 2020 and Cyber Monday to do the bulk of their holiday shopping online. Offering an enticing Black Friday promotion can help boost your sales and encourage new and existing customers to keep your shop in mind this holiday season.
Here are a few tips for dealing with the Black Friday madness this holiday season (and executing your most successful selling weekend yet!):
Be clear about your sale
Are you planning on running a sale on Black Friday only? A different sale for Black Friday, Small Business Saturday, and Cyber Monday? Are you planning on extending your holiday deal for a week or more to give your customers more time to shop?
And as for the deal itself – are you planning on discounting certain items or your whole store? Will you offer free shipping or a free gift? What’s the incentive to purchase now instead of any other time of the year? Decide what sort of sale you’ll run and when you’ll do it, with a clear end date.
Advertise your sale
You could be running the most enticing sale in the world… but it won’t do you or your customers any good if nobody knows about it! Let your customers, your followers, and your email subscribers know what’s coming up so they’re ready to make a purchase once the big day comes around. Get some marketing materials ready to share while the sale is running as well to remind your customers to take advantage of the deals while they can.
Make sure it’s still profitable
It’s just common sense – lowering your prices for a sale also lowers your margins. But that doesn’t mean you have to lose money just to run a good sale for your customers. Do a little math and make sure you’ll still make a profit or (at the VERY least) break even. Use your best judgment in determining how much you can afford to discount your products.
The holiday season is a busy time for every retailer – and this year, online sales are expected to be higher than ever. If you’re expecting longer shipping or fulfillment times during Black Friday weekend and the rest of the holiday season, be upfront about it. Give your best estimate of when products will be shipped out, even if it’ll take a while. Your customers will understand!