Black Friday Sales - Billions of dollers opportunity. If there\'s a big opportunity out there, I want to make sure I take it and get every advantage of it, and you probably feel the same way. It is a fact that people spend their money on Black Friday, it is up to you to make sure they are spending their money in your small business rather than the big physical stores. That being said, we\'re here to help you maximize your Black Friday sales with some Black Friday small business marketing ideas. Here are some ways to capitalize on the spending frenzy and get more income on Black Friday.
Before I start let me show you some amazing black Friday stats.
Source: blackfridaydealspoint.com
How to Increase Sell on Black Friday Cyber Monday
1. Discount on your products or services
Massive discounts like $ 199 flat screen TVs and $ 299 laptops are pretty typical of Black Friday promotions, but while these offers are eye-catching and great for consumers, they really only work in companies with large profit margins or companies that justify the breakeven point can get a customer today because they know that their average customer makes multiple purchases a year.
In today\'s online business world you can easily start your online store and offer discounts and coupons.
While discounts are the first choice when thinking of a sales promotion, it is not the only option, and often it is not the best option either. In the first chapter of Influence, Robert Cialdini tells the story of a small business owner who wrote a message to his manager to cut the price of his product in half because it didn\'t sell. The manager misread the note and eventually doubled the price and the product was blown off the shelves. People have a value relationship with the price of a product, so discounting your product may not generate enough sales volume to offset lost profits. While recording the product price worked in this case, you might benefit from a different tactic.
2. Create added value
The value-add offering model is a great way to keep your normal prices around but sweeten the deal by throwing something into the sale. This option is similar to the bundle price, but here your customer gets more than they normally get for the same price. If you can get creative, there are a few ways you can add value without spending a lot of money or reducing your profit margins.
I recently saw a great example of this in Brendon Burchard\'s book launch for The Motivation Manifesto, which just debuted at # 1 Barnes & Noble and is on its way to the NY Times bestseller list. Your book purchase gives you free access to a 12-week online training program (valued at $ 297)! This is a perfect example of adding significant value without sacrificing your profit margins as the cost of providing the online course is the same whether it is giving away the course to 100 people or 100,000 people.
You may not have a product online, so what can you add with your product to add value to a sale? For example, if I sell toothpaste, I could throw a toothbrush in it. The toothbrush makes the toothpaste more valuable, and the manufacturing cost of a toothbrush is low.
3. Segmented offers
If you want to get very progressive and have a robust CRM tool, you can create other offers for your current customers. Maybe the offer is exactly the same, but it would be great to customize your marketing messages to target your customers differently than using the same messages that work for someone who first discovers your business. Segmenting your list into "Join the Movement" vs. "Thank You for Being Part of the Movement" can produce powerful results.
4. Create awareness at an early stage
Running a small business is a challenge; It is difficult to plan three steps in advance when your focus is on day-to-day business. Every year the big pit shops seem to be starting earlier and earlier to prepare for the holidays. While it can be annoying, there is a reason for it. Kathy Grannis, spokeswoman for the National Retail Federation, said, "We know that 40 percent of Christmas shoppers say they start shopping before Halloween." This just goes to show that planning ahead and getting started early is essential to capitalizing on the holiday season.
5. Direct mail campaign
Yes, I said it! Direct mail is one of the least used forms of marketing today. It\'s a great way to get a message across to current and potential customers to help boost repeat business.
Wrapping Up
Black Friday and Cyber Monday are great way to attract new customers and create trust.
So if you want to take your business to the next level then make sure to prepare for next black Friday properly and execute marketing strategy on time.
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