As the winter breeze comes tingling its way, comes the festive season along with it. While people see the holidays as a way of stepping out of work, sellers see it as an opportunity to bring themselves forward and stand out in the market. It is high time when Retailers and E-sellers all around the world participate in one of the biggest business events of the year – Black Friday. While being a part of this prestigious business day could be overwhelming for a number of small businesses, it might also trigger a lot of what’s and if’s. But anything could be fixed with a few marketing strategies that are guaranteed to charm its way to success.
We shall get to that in a while, but first;
WHAT IS BLACK FRIDAY ?
Black Friday is the end-of-the-year holiday shopping day that originated in the US and gained popularity all around the world in the mid-2000’s. This day, later extended to a week, is said to be the biggest selling/shopping opportunity as it officially commences the holiday period to come forth. Sellers all around the world strategize and compete in the market by offering overwhelming deals and prices on their products.
According to statistics, Black Friday sales in 2019 saw $7.4 billion in digital marketing in the US alone. With the numbers sliding up-to $20 billion on global sales.
HOW DOES LOWERING PRICES HELP ?
Lowering product prices serves as a marketing strategy to attract more sales. Sellers and Retailers analyse the products that the consumers would not want to pay a heap of money for. That is where they pull the prices engaging the consumers into buying much more than they had initially anticipated.
Now that you know about the market, sales and purchase frenzy, let us talk about those invaluable marketing strategies that would help you stay two steps ahead of your competition in the market.
Prepare an Early Strategy:
As a seller going into a big day for business, you cannot expect to wake up on the day and go right in. To build a successful black Friday e-commerce strategy, It is absolutely imperative for you to plan your moves in advance, so as to leave time on hand for tweaks and changes.
i) Build a Strong Email List:
Email marketing is one of the most fruit bearing strategies in modern digital marketing. It helps you make a strong relationship with your customer. Strengthen your email list by intriguing your visitors into subscribing via attractive pop-ups relating to the black friday offers and providing relative incentives.
ii) Check Inventory:
It is important for a seller to look through their inventory and old stocks. This also helps the seller in getting rid of the older stock that has been taking space in the inventory. Sellers tend to smash a whopping discount on such stocks which is a smart marketing move.
iii) Build Interest Through Social Media:
Build hype around the big day. Social media campaigning with flashy signs and “big deal” teasers causes curiosity which ultimately develops an interest among the customers. Have your traffic participate in the build up leading to the all-important day through post and engaging activities.
DETERMINE THE PRODUCTS TO PROMOTE
Though it might be tempting to offer jaw dropping discounts on your products, it is not always wise to do so. Especially if you’re a small business owner, you do not have the luxury to allow drastic drops in prices like the big guns like Amazon does. For you, it is imperative to choose what products could sustain a good discount. Determining the product worth according to the market is an essential part of marketing. Also, care for your best sellers and always put them forward and ahead the rest.
MAKE YOURSELF STANDOUT
As a seller competing in the market on Black Friday, you need to come out as eye-catching and difficult to let go of. Let the visitors of your web page feel that through creative subjects and flashy pop-ups regarding the day. Customers also tend to appreciate a seller based on the simplicity of the buying process. Make your web page easy to navigate so the customer doesn’t mind buying more than they originally intended to buy.
UP-SELLING IS KEY
It is true that we saved the best bit for the last, so let us bring you in on a little secret. All the top sellers of the world, on big business days like Black Friday itself, focus on the up-selling and cross selling of their products. Up-selling could be simplified as those bunches of candies placed on the cash counter that you pick just because it caught your eye.
Up-selling is a key aspect of selling in digital marketing as well. You need to make sure your “related products” are perfectly lined up along the product the customer initially came to buy. These products could vary from additional accessories to things with a similar tone to them. You just sold a pen, that’s good but it’s not enough. Now make them buy a paper.
Make it a Sale to Remember
Gratitude gets you friends, or in our case, customers. Besides, who doesn’t like and appreciate a few freebies to go with ? Add value to your customer relationship by enticing up your sale while sticking with your original price. This makes the customer realize where he needs to stop when he has to make another purchase. Win-Win.
There you have it. Have your Black Friday marketing done with these 5 scintillating marketing strategies and achieve numbers you set your goal to. And when you do like you’re destined to, remember us in your good grace.