Black Friday
John Pyron, the Business Doctor

John Pyron, the Business Doctor

Black Friday: What to Expect When You Have a Business

This year’s Black Friday will take place on November 26, and although this event represents a new sales opportunity for many businesses, it could nevertheless pose a threat. Should your business get ready this year on Black Friday?

One of the main consequences of date as busy as Black Friday is the increase in traffic on the websites of businesses. Online sales grow in a matter of days, as do customer inquiries and complaints. If agents and salespeople don’t have the tools to handle this situation, they can become frustrated and even lose some customers along the way. Therefore, it is crucial to prepare in advance.

 

What happens on Black Friday in the business world?

Big companies win, small companies suffer

Offering deep discounts around Christmas is an easy way to attract lots of buyers and boost business sales.

However, not all companies win out of this situation. For Small Businesses, Black Friday could pose a threat. Competing against large companies and multinationals with deep discounts would be an economic effort for small businesses whose result could mean loss.

Also, on busy days like Black Friday, you need more staff to provide good customer service, equating to higher staff costs. If you decide to be competitive and lower prices, be aware at all times of the possible risks that this entails.

 

Win the orders, suffer the returns

Given the great discounts and the convenience of buying from any device connected to the internet, consumers tend to buy more than necessary on Black Friday. However, as a result of impulsive consumption behaviors, the more you ask for, the more you return.

The reasons for return can be several: the product does not meet the consumer’s expectations, incorrect size, the consumer buys the product due to the low price even knowing that he is going to return it, among others.

 

The logistics win, the environment suffers

To meet the needs of mass consumption on Black Friday, it is necessary to make many shipments for product deliveries and returns, produce cardboard and plastic packaging to prepare orders and use natural resources or raw materials to produce the products demanded.

The impossibility of grouping orders, among other reasons, because many small shipments are made separately leads to an increase in polluting gas emissions.

 

Tips to prepare your business for Black Friday

Set goals

The pace is frenetic, and traders need to know what they are up against. Two great objectives will mark the success of your campaign.

Also, the supply on the internet has increased in recent months. The user has gotten used to the online shopping experience. Consequently, this year designing the recruitment strategies that get the customer’s attention is an essential point. However, foresee the technical needs of web support and product demand.

Sales targets will define stock needs. However, it is widespread to extend the campaign until the following Monday (Cyber Monday) to settle it. Also, remember that the prior analysis is essential so that the offers and discounts are beneficial for both the client and the company. Keeping a sideways glance at the budgets throughout the process would be the best thing to do.

 

Generate demand

The incentives that can capture the customer’s attention in addition to lowering prices are endless. Some of the most common in this campaign are free shipping, immediate deliveries, or contests.

However, the most important thing is to choose the right communication channel so that your message, based on a significant discount or a contest, reaches the user. SEM marketing tools in this sense, especially Google AdWords, are highly effective and allow smaller online businesses to participate on equal terms in this event since the money disbursement is punctual and will be immediately compensated.

In the same way, social networks, which are also free, can give good results. The choice between the two techniques will depend on the segment of the market the campaign is targeting.

However, remember that a marketing campaign can lose its effect when the website has a too slow loading speed; it is advisable to review the performance in advance. In addition, online payment must transmit security to the customer. Therefore, the certification of the payment gateway is a must. Given the excellent offer available on the web, the responsive design of your website, that is, the perfect visualization, whatever the device, is a key factor in keeping the consumer’s attention.

 

Manage response

At this time, having achieved our main objectives, the ability to respond to a possible flood of orders also comes into play. For all this, if you can react correctly on such an important date, the benefit will be mutual, and there are possibilities of achieving customer loyalty.

In conclusion, preparing any business for Black Friday is the most effective drill for a different Christmas campaign. We will only know the results once this campaign takes place. Without a doubt, the foundations will be laid for the next few years.

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