Best Small Business Black Friday & Cyber Monday Ideas
Should your small business offer Black Friday or Cyber Monday deals (or both)? Our guide explains how to get the most out of the busiest shopping days of the year.
By now, small business Black Friday sales are practically a given, especially in retail. And Cyber Monday deals are becoming equally ubiquitous as online shopping only continues to eat up a higher and higher percentage of overall holiday shopping sales. These sales often start well before their namesake dates during the week and are meant to drive new or existing customers to your store or website and give businesses a leg up against stiff holiday shopping competition.
But just because all of the major retailers flood the market with deals doesn’t necessarily mean it’s the right decision for your own business. In fact, some business owners may find that Black Friday and Cyber Monday promotions are more trouble than they’re worth. Read on for tips on maximizing your profits during the busiest shopping days of the year to find out if those sales are right for your company.
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Should Your Small Business Do Black Friday Or Cyber Monday?
It may seem like a no-brainer to go with the flow of most major businesses this holiday season and offer up Black Friday and Cyber Monday deals. However, if those deals don’t drive extra business or move the right product, they might be more trouble than they’re worth. There has also been a movement in recent years to support small businesses instead of contributing to the massive wave of purchases done at large chains and online retailers.
Even if you don’t plan on a large-scale coordinated blowout in late November, it may be savvy to offer certain sales and discounts as consumers will be out in force and ready to make purchases for the holidays and beyond. A smart marketing campaign combined with discounts on the right products could significantly boost your business.
The Benefits Of Offering Small Business Black Friday Sales
There’s a reason that Black Friday has become practically its own holiday and why businesses continue to roll out massive advertising campaigns for their sales. They can be very profitable. Here are some reasons to consider offering Black Friday and Cyber Monday deals this year.
- Increase In Overall Sales: Good deals that entice customers may drive sales to discounted items and encourage purchases of other items in your store or on your website.
- New Customer Acquisition: Sales on items that customers are searching for might draw in new patrons who previously may not have visited your business.
- Free Up Inventory: Providing hefty discounts on the stock you are hoping to move can give you more space and opportunities to purchase new items heading into the new year.
- Easier To Fulfill Orders: By front-loading orders a month before Christmas, getting them out the door before the full holiday rush becomes simpler.
What Products Sell The Best On Black Friday?
Generally speaking, products that consumers consider to be a splurge always sell better on Black Friday. Shoppers who may not have thought they could afford certain items may change their minds once they see a significant sale, a chance to buy now and pay later, or who simply get caught up in the holiday spirit of shopping. Electronics tend to be popular items that fly off the shelves. Anything from televisions and laptops to Airpods and fitness trackers tends to be in high demand when prices are slashed.
But other items you may not necessarily expect also do well when given Black Friday and Cyber Monday prices. Home goods such as towels and sheets tend to be very popular, as customers often stock up on items they know they’ll use throughout the year that they can buy on the cheap.
Here are some of the most sought-after and best-selling items during Black Friday:
- Small appliances
- Home smart speakers
- Fitness trackers
- Video games and consoles
The 6 Best Small Business Black Friday Tips
You can do several things for small business Black Friday to increase your sales and visibility. Here are a few tips to help you during the busy holiday shopping season.
Shoppers will be inundated with sales and bargains during Black Friday. You may need to entice them more to draw their attention away from the competition. Offering a free gift, even something inexpensive, can help bring in customers and get them to your deals. Mystery bags or free items that compliment a sale item can be popular.
Use Social Media Creatively
If you have a following on social media or sell on popular sites such as Facebook and Instagram for marketing, start promoting your Black Friday and Cyber Monday sales early. You can create a countdown with daily posts or show off the products in your deals in fun and unique ways to generate buzz.
Last Chance Offers
While much of your holiday sales will presumably be made within a short window of time around Black Friday, keeping those deals going for an additional week can help draw in customers who either may have missed your sales originally or had a change of heart. If you use eCommerce, you can offer discounts on items left in online carts or send out targeted email campaigns.
A recent gimmick for retailers that has paid dividends is putting specific products up for sale at varying times throughout the day. This can help promote the idea of scarcity of a deal and might get customers who may be unsure about a purchase to pull the trigger faster. Some retailers make their deals a secret as well and reveal them during hourly flash events.
Check Inventory Ahead Of Time
It isn’t always easy to know what products you should sell on Black Friday and how much to discount them. But having a good idea of what you have in stock is a great place to start. If you have a significant backlog of certain items, this could be the perfect time to run a sale or offer products as giveaways. This can help free up your inventory after the holiday season as well.
Encourage Social Media Sharing
If you’ve already hit your social media marketing hard leading up to Black Friday, keep it going throughout your event by encouraging your customers to post about your deals on their own social media. This is free advertising and another way to increase your brand and connect with your customers.
Final Tip: Don’t Forget To Shop Black Friday For Your Own Business
As a small business owner, it’s usually a good idea to play to your strengths. There has been a growing trend with consumers to support smaller retailers with campaigns such as Small Business Saturday. But that doesn’t mean you can’t play the same game the big retailers do as well. Black Friday and Cyber Monday sales can be a great way to thin out your inventory, boost your brand, and increase your sales during an important time of the year. And be sure to check out Black Friday deals from other merchants on items you might need for your business.
At the same time, don’t feel obligated to put an extensive amount of time and money into an elaborate email marketing strategy for your store if you’ve done your research and discovered that those sales might not be the most beneficial avenue for your business to take. Not all items are what customers are looking for during this busy time of the year. As always, trust your instincts and enjoy the holiday shopping season!