After you’ve had your fill of turkey and stuffing on Thanksgiving Day, your business will be faced with one of the busiest days of the year.
Black Friday. It can make some business owners shake in their boots. But, for most, Black Friday is a day to look forward to.
Wondering how you can make the most of this opportunity to give your small business a big boost this Black Friday? Find out here!
What is Black Friday?
The Friday after Thanksgiving Day is known as Black Friday. The origins of the name Black Friday are debated but seem to have roots in 1950s Philadelphia, where police used the term to describe the crazy amounts of shoppers who would turn the city on its head following Thanksgiving Day. By the late 1980s, the name had spread, and since then it has served as an informal start date for the holiday shopping season.
In an effort to begin the holiday season on the right foot and draw in more business, stores use Black Friday as a chance to offer consumers tons of discounts and promotions that are practically irresistible. You’re likely familiar with the huge impact that Black Friday marketing has on the economy – consumers will often line up outside of their favorite store hours or even days in advance so that they can get the deal they’ve been waiting all year for.
While it may seem a bit outrageous to camp outside of a department store, the potential benefits that your own business may see as a result of using the right Black Friday marketing strategies are enormous. You may be wondering exactly how much you stand to gain by having your business participating in Black Friday. We get to that just below!
Why Black Friday is a big deal for small businesses
At a certain point in the story, likely around the early 1990s, many retailers across the United States began making an effort to change the message behind Black Friday from something negative (chaotic consumers) into something positive (mutual benefits for consumers and merchants).
From that point on, Black Friday marketing has continued to prove well worth the time, effort, and resources invested by retailers. Let’s have a look at some statistics that prove just how important Black Friday is for U.S. retailers.
Black Friday Statistics:
- 88% of American men and 85% of women report that they’ll be shopping on Black Friday and Cyber Monday
- The average American man will spend nearly $440 on Black Friday, and the average woman will spend nearly $380
- An equal amount of consumers (55%) report that they plan on shopping online and in department stores
- Baby Boomers are expected to spend the most on Black Friday ($626.35 billion), followed by Gen X ($459.72 billion), and then Millennials ($252.11 billion)
- On average, the biggest purchases made on Black Friday are on furniture, major appliances, electronics/gadgets, and travel
- Online sales on Thanksgiving Day 2018 totaled $3.7 billion
- Online Black Friday marketing in 2018 resulted in a 23.6% rise in sales compared to the year before – totaling $6.22 billion in online sales
- Cyber Monday marketing is expected to turn out a record $7.8 billion in online sales
- In 2018, 33.5% of Black Friday e-commerce sales were made via mobile device
Now that you have a better idea of just how much Black Friday has to offer your business, you may be wondering how you can get your slice of the pie. We’ve got three words for you: Black Friday marketing.
9 Black Friday marketing ideas to promote your deals
There’s a ton of competition out there all year round, but when the holiday shopping season approaches the race to pull in more customers becomes even more extreme. Use these Black Friday marketing (and Cyber Monday marketing) ideas to keep your small business ahead of your rivals.
Note: If you have a Black Friday or Cyber Monday marketing idea that might cost you a bit to implement, consider small business loans as a solution to help you make it happen. Do some research to determine whether the return on investment seems promising – if so, Become can offer you the best route to obtaining the business funding you’re aiming for.
9 Black Friday marketing ideas:
- Start Black Friday and Cyber Monday marketing deals early
- Create a sense of urgency
- Use a direct marketing email campaign
- Take advantage of social media marketing
- Add a Black Friday/Cyber Monday page to your website
- Advertise discounts for online and offline sales
- Design gift collections/bundles
- Offer discounts for multiple purchases
- Include a free gift with each purchase
Keep reading for more details on each of these Black Friday and Cyber Monday marketing ideas (not to be confused with holiday marketing tips)…
1. Start Black Friday and Cyber Monday marketing deals early
While there are a lot of people who will wait until the last minute to do their holiday gift shopping (don’t look so guilty!), there are also many holiday season shoppers who will get their purchases done way in advance. Start offering your special Black Friday deals ahead of time so customers will have your business in mind before the clock reaches zero.
2. Create a sense of urgency
Speaking of the clock reaching zero, one of the most effective Black Friday marketing strategies is to create a sense of urgency in your target audience. If your customers have the ability to make purchases on your website, you can add a timer that shows them how much time they have until the deal or promotion expires.
3. Use a direct marketing email campaign
Don’t neglect all of those existing customers who are already in your business’s database. If you’ve got a list of email addresses at your disposal, try a direct marketing email campaign that creates a more personalized approach to your overall Black Friday marketing strategy. While the direct marketing approach can be extremely effective, be careful not to flood your customers’ inboxes with spammy advertisements that can have the opposite effect.
4. Take advantage of social media marketing
There are millions of users on Facebook, Twitter, and Instagram. It would be a big mistake to miss out on those audiences! If you don’t have accounts on those top three social media platforms, sign up now. If you already have accounts, be sure to sharpen up on your social media marketing skills so you can take advantage of this prime opportunity.
5. Add a Black Friday/Cyber Monday page to your website
When you post your Black Friday and Cyber Monday marketing campaigns across the internet, you’ll want consumers to have a direct link to a landing page specifically designed for this special event. Create a new standalone page on your site so that customers can quickly and easily find exactly what they’re looking for: Black Friday deals! Plus, this can help improve your website’s SEO ranking.
6. Advertise discounts for online and offline sales
Some consumers like to shop online, others like to shop offline. Whichever way they prefer, shoppers should feel that they’re receiving a special deal. Create special discount codes that apply to both online and in-store offers so you can bring in as much business as possible.
7. Design gift collections/bundles
Chances are that some of your products more popular than others. And while it’s great to have such high sales volumes that you run out of stock, it’s even better to sell your less popular products simultaneously. The simple solution is to make bundle deals so that those customers who are most interested in your popular products will be incentivized to pay a discounted price for even more goodies!
8. Offer discounts for multiple purchases
When bundle deals aren’t the Black Friday or Cyber Monday marketing strategy to turn to, you can still offer consumers a special discount for making multiple purchases. A similar (but different) Black Friday marketing strategy would be to offer a 2+1 deal, where customers are offered a free product for every two purchases they make.
9. Include a free gift with each purchase
The last Black Friday marketing strategy on our list might seem like the most basic, but nothing is quite as attractive to consumers as the word FREE. If people know they’ll get a complimentary gift every time they buy something from your business, it’ll not only give them a reason to keep shopping but may also make their friends and family members more likely to follow suit.
Stay in the black
There you have it folks – the best Black Friday marketing strategies to keep your business running strong during the holiday season. Many of these approaches can be applied during other times of the year, so don’t hesitate to take these ideas and run with them.
Black Friday can get a bit chaotic, so get yourself ready with these tips while there’s still time!