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 American Thanksgiving. 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 hosting 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.
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 America alone consumers spent over $2.5 billion on Cyber Monday.
American Thanksgiving is 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.