Don’t feel guilty when you don’t have a sale
Ahhh, Black Friday and Cyber Monday.
A great time to snag some deals for yourself or your business.
But is it right for you to build and market a Black Friday offer?
Just because everyone is doing them, does that mean you should?
Black Friday is the unofficial start of the holiday shopping season it’s one of the busiest shopping days of the year. With so much buzz around Black Friday deals, many small business owners wonder if they should also try to capture some of that spending.
If you sell products or services online, there are many ways to take advantage of Black Friday and other holiday promotions. But not all promotions are created equal. Some will cost you more time and resources than they’re worth in sales, while others can be an excellent way to reach new customers at a low cost.
Read on to learn more about the pros and cons of participating in Black Friday deals, what to look for when searching for promotional opportunities, and which ones will help your small business grow rather than shrink during this challenging time of year for most retailers.
Why you shouldn’t participate in Black Friday deals
While Black Friday offers can be a boon for your business, you don’t want all your sales to come from one day. Part of the reason for this is that it is an incredibly competitive day for businesses to offer their best deals. This means that you’ll need to offer really deep discounts to get people’s attention. Chances are, you won’t be able to sustain that level of discounting for the rest of the year, which means you’ll lose money on every other sale.
Another reason to be careful about participating in Black Friday deals is that they often require a high level of inventory. And in terms of intangible services such as coaching, therapy sessions, etc., how much time do you have to deliver these one-on-one sessions if your sales are greater than you expect.
Think about:
- What is your goal in creating a Black Friday offer?
- Do you have the time to plan and market your offer so that you generate enough sales to make it worth your while?
- Do you have enough people engaged with your marketing efforts to reach your goal?
- Can you afford to give out big discounts?.
- Do you have a marketing budget to earn you the visibility you need?
- Can you stand out from the crowd? With all of the competition, will enough people pay attention to you?
Reading this list, you would be correct to think that I am a little biased about solo-entrepreneurs like us offering a Black Friday product. However, being an eternal optimist, I do believe there is a way our businesses can be successful when we throw our hat in the ring.
Turn Black Friday into a Plus for Your Business
Use Black Friday as an opportunity. There are ways to build better relationships with your followers and customers on Black Friday. Here are a few ideas:
- Bundle some of your best blogs, freebie offers, or low-cost eBooks into one neat and tidy package and give or sell it to your followers. If you offer this for free, you can also use it as a list builder. Yes, some people may have seen some of the content before, but not in one cohesive place. It will build goodwill for you and your brand and create sales soon.
- Are you creative? Go to Canva and make a journal or planner with graphics related to your brand and give it free for new subscribers, clients, followers – anyone who is in your circle as well as those you want to be part of your tribe.
- If you provide coaching or therapeutic services, create a gift card with a slight discount for a package of hours or services. Create a marketing promo for your current customers to buy for themselves and one for people to give as a gift. Try to have a variety of $$$ value so it fits any pocketbook.
How to find the best Black Friday deals for your business
not all promotions are created equal. Some will cost you more time and resources than they’re worth in sales, while others can be an excellent way to reach new customers at a low cost. is more art than science, so don’t be afraid to experiment and try new things. One way to do this is to find broader deals that you can supplement with unique offers. This will help you stand out from the crowd and get your offers in front of more people. For example, you might sign up for a sitewide coupon, then offer a percentage discount on a single item.
Another strategy that you can use is to segment your audience and only offer certain deals to them. For example, if you sell a product for children, you might want to offer a deal to parents. This will help you reach a broader audience and get more sales.
You can also segment your audience based on where they are in their buyer journey. To do this, you’ll need to run some basic marketing actions to identify your customers. You can use surveys, polls, or quizzes to ask customers how they found your business, what they’ve been looking at, or what they’re interested in buying.
Should your business offer a Black Friday deal?
If you’ve read this far, you’re probably currently weighing the pros and cons of participating in Black Friday deals. If you’ve decided that you want to try to get in on the action, here are a few tips for making the most of it.
First, be sure to plan ahead. You need enough time to create and market your product.
Next, make sure that you have enough cash on hand to fund the promotion. You’ll want to factor in your costs, including the price of the product, promotion and ad costs, shipping costs if any, and any taxes or fees you’ll owe on the deal.
Finally and almost most importantly, you’ll want to make sure you have a plan for what to do after the promotion ends. This includes a plan for how you’ll follow up with customers and how you’ll keep the momentum going.
Bottom line
Black Friday is one of the busiest shopping days of the year, so it can be a great opportunity for small businesses to promote their products and drive sales. However, not all offers are created equal. You’ll want to choose carefully and make sure that you’re picking a promotion that will help you increase sales rather than cost you money. If you can find the right deal and promote it well, Black Friday can be a great way to boost your sales during the holidays.
