Strategies for Black Friday Marketing

Whether you offer products or services, it never hurts to throw out a great deal on Black Friday.

It is the one day a year you can guarantee to have people looking for deals, so you had better have one. If you don’t, you probably won’t end up getting any business. Since Black Friday accounts for nearly 40% of annual revenue for most retailers, it is really important. How should you go about it if you are going to keep your customers happy?

Take a look at the competition

The first thing you should do is watch how your competitors go about it. Most companies offer steep discounts on doorbusters but only offer a few of them. To get more people in the store, it is worth losing a little money to a few customers, and customers will come for the chance to save so much money.

Walmart made the daring move to open early last year on Thanksgiving, but not too many people were offended because they all showed up anyway. More and more companies are following Walmart’s lead by opening early this year. For example, both Target and Toys R Us have announced that they will be opened on Thanksgiving this year, according to the LA Times. Though Walmart has not announced any news on their plans this year, you can assume they will be open on Thursday and keep the deals going through Cyber Monday. Is this what you want to do?

Start with a price change

You have to start by deciding what you want to put on sale. Is there something you are willing to lose money on to get people in the store? Keep in mind that Walmart also price matches on Black Friday, so you want to be careful about the brands you put on sale. If you are going to put sheets on sale, for example, make sure they a brand not carried by Walmart. You wouldn’t want your great deals leading to Walmart getting more business. Consider steep discounts on a few big-ticket items and smaller discounts on the smaller things. It will get people in the store and help them feel like they are getting a good deal on the way out.

Try it online

Almost everyone does online shopping now, so it couldn’t possibly hurt for you to do an online sale. Getting people to check the sales at your site is a lot easier than getting them into your store. You may even want to use your pay-per-call marketing to advertise your sales. Maybe you’ll get a lot more people calling in that day.

Source:

LA Times

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