Tyra Douyon - November 22, 2023
Despite the economic uncertainty felt around the country from inflation, student loan payments, and the Federal Reserve’s attempts at reestablishing normalcy, Black Friday shopping is still one of the year’s biggest marketing weekends. Many companies rely on Black Friday shoppers to put them ‘in the black’ for the year, ensuring they’ve reached their bottom line. However, it can be difficult for some marketers to make waves in a sea of ‘90% off promotions’ and ‘free gift included with purchase deals’ flooding our inboxes. If you want your business to stand out this year with a marketing campaign that beats your competitors, check out these tips to make the final sales push in Q4 a success.
These days, many people question whether Black Friday madness is a thing of the past. Waiting in mile-long lines outside department stores, gawking at the dedicated few who camped out overnight in tents, and running (or fighting) through the front doors to grab the incredible end-of-year deals were Black Friday traditions for decades. According to analysts, thinly veiled disinterest fueled by high inflation, an ever-growing shopping window, and holiday fatigue continue to weigh on consumers post-pandemic. Jie Zhang, a professor of marketing at the University of Maryland, reflected on the changes, “We are in unique economic situations — inflation has been at a 40-year high, and a lot of families’ budgets are being squeezed from all fronts…there isn’t as much enthusiasm to open up wallets coming into this holiday shopping season.”
Nevertheless, despite the day’s supposed dwindling relevance, Black Friday has morphed into a months-long sale pitch where merchants of all sizes aim to come out on top. Now more than ever, businesses must be prepared with eye-catching displays, authentic cost-saving deals, and incredible marketing initiatives to stand a chance against the competition and the growing sentiment that says Black Friday shopping isn’t what it once was. Cyber Monday and Small Business Saturday have since been added as extra days for businesses to make sales during a weekend that still remains distinctly unique from other seasonal promotions.
Beyond being a big sales weekend, it’s also a huge marketing/advertising weekend. From promotions and deals to customer acquisition and lead generation, the content you plan for this weekend can make or break your Q1 sales for the upcoming year. Small businesses especially gain the most sales and traffic during this weekend. A well-planned social media campaign or hot deal can catapult your products and services to the forefront of Black Friday wins.
It might seem impossible that a small business could square up with popular retail giants like Macy’s® and Walmart®, but on average, “30-40% of ALL retail shopping each year takes place between Thanksgiving and Christmas.” For many businesses, small and large, this is the make-or-break time of year.
Social media is a powerful tool for businesses to find new customers and spread their marketing message to a broader audience. A timely campaign asking subscribers and followers for video reviews, content reshares, and to participate in challenges can help popularize your promotions.
There is nothing like a free product to reel in shoppers. Adding a second item to a customer order free of charge or offering a deal that incentivizes a customer to return, like 40% off your next purchase if you shop before December 25th, not only creates a sense of urgency but is the right step in establishing brand loyalty among your new customers.
Increase your customer engagement by publishing a video, an email, or a social media post about your latest deals and why your business is the one to support during Black Friday shopping. A personalized message can make customers feel catered to and reiterate that people are the priority, not just profits.
Ensure your email campaign is running before Black Friday begins! This is an essential step in establishing repeat business. Once you have someone’s email address, you can send them personalized offers, promote limited-time deals, gift guides, and other helpful tips about the best time to shop.
Everyone loves a bargain, but what about two or three? Partnering up with another business is a great way to glean some of their customers and offer an even larger discount to shoppers. Cross-promote the event on each other’s social media pages with blog posts, video content, and event invites. Then, when the big day arrives, reap the benefits of double the customers!
Don’t underestimate the power of local shoppers. “Shop local” is a famous slogan among sustainable living supporters and influencers. In fact, “…over 82% of shoppers state they would rather support a local business than a large company.” Be prepared for local customers to monitor your business for their Black Friday needs.
Amazon® was the first business to promise 2-day shipping to its customers. Although you may not have the labor to make this happen, offering free shipping is a good alternative. As the power of online shopping rises, free shipping has become the main reason buyers make purchases they are otherwise hesitant about.
‘Tis the season for giving! In recent years, “45% of people who discovered something new online gifted it to someone.” This is important for your bottom line because one customer can quickly become several if the product is continually gifted to others and your company’s name is shared.
Source: Promo.com
Giving Tuesday incentivizes people and businesses to give back after a shopping-filled weekend. The day kicks off the charitable portion of the holiday season, and your business can help others in need after a weekend of big sales and cement itself as an active community member who’s doing more than emptying wallets and swiping cards.
Remember, marketing/advertising isn’t just about sales; it’s also about how you position, promote, and represent a business’s core values and mission. Do good for others on Giving Tuesday and throughout the year so customers feel like this effort is authentic.
A successful Black Friday weekend can never be guaranteed, but these helpful tips bring you one step closer to crushing your end-of-year goals. Rearview Advertising is here to lead your business back to black. Our full-service marketing agency has the expertise to help you craft winning campaigns, increase sales, and generate the leads you need to move the needle in the market. Contact us today for more information about our services!
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