What Entrepreneurs and Business Owners Can Do on Black Friday
With Thanksgiving right around the corner, business owners and entrepreneurs are preparing for Black Friday. Black Friday kicks off the holiday sale season and is one of the biggest consumer spending days each year. Black Friday makes both consumers and retailers happy. Here are some tips for business owners and entrepreneurs to help stay in competition on this critical money making day:
- Do your homework-See what products that your current customers like the most.
- Know the trends- Find out what is hot in your industry.
- Develop specials and promotions- Make a list of what deals you can offer keeping your own expenses in mind. Choose what door buster deals ( or the best deals that you can do) you can provide.
- Market your specials, sales, and promotional offers- You can use social media as an effective marketing tool. You can also develop a promotional email campaign to drive consumers in by offering compelling Black Friday sales promotions. If you have a retail store, you can use the storefront to decorate for the holidays and hang signage advertising your Black Friday events. Be creative.
- Consider sending previous customers an appreciation card offering them an additional percentage off on top of your other Black Friday sales that you are running when they bring the card into the store on Black Friday. Or, invite them to a loyal customer pre-Black Friday sales event.
- Build a holiday shopping app- With so many consumers using cellular phones and other electronic devices to shop Black Friday events, this can provide you with a marketing edge.
- Dress up your website if you make sales online. Advertise your promotions and change your keywords to include Black Friday sales wording.
- Stock your shelves and inventory of sales items! You must be prepared!
- Turn your products and services into gifts.
- Partner with local businesses to offer joint promotions, perhaps if you are a restaurant, you can team up with a movie theatre to provide a dinner and a movie promotion. This will profit both businesses, and most companies are willing to try this in order to help boost their own sales.
- Provide Flash sales- Drive customers in with one- night only or hourly sales promotions.
- Check with other local businesses and see what their Black Friday hours will be. The more businesses open, the more traffic will be generated. And, you don't want to miss out on the action because you were closed.
- Extend business hours by opening early/ closing late.
- Hire for seasonal help, as you must be ready for the excess traffic on this day.
Image courtesy of Stuart Miles / FreeDigitalPhotos.net