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November 2018

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COMMENTS

Should You Promote a Black Friday or Cyber Monday Deal?

Written by , Posted in Business, Entrepreneur

Black Friday and Cyber Monday are coming this weekend which will more likely to see businesses spreading their deals out in order to capitalize on the entire shopping season leading up to Christmas. Wondering whether you should promote a Black Friday or Cyber Monday deal? If you play your cards right, you too can use Black Friday and Cyber Monday to your advantage.

Note that as a small business owner, you won’t be competing with the likes of Best Buy, Target and Walmart rather you can take advantage of the shopping holiday to attract customers and get a jump start on your holiday sales. For example, did you have discounts, contests or social media promotions that drew traffic and resulted in sales last year? Was there one channel that worked particularly well, such as your website, Facebook, Twitter, or an advertisement in a local radio?

Because big box stores buy in huge volume, they can afford to offer deep discounts. Local small business owners simply can’t match those prices while still remaining profitable, so if you know that Black Friday or Cyber Monday isn’t going to make or break your holiday sales results very much since it is entirely based on price slashing, it makes sense to put your holiday sales energies elsewhere.

So, what is the best way for small businesses to leverage the Black Friday and Cyber Monday trends? I highly recommend that you read the article about Tips for Selling in the Holiday Season.

Black Friday was born at retail and brick-and-mortar sales typically run on this day and that’s it. This does not necessarily mean that you need to slash your prices to the point where you can’t make a profit. There are many other ways to garner consumer interest. Example, if you sell a flashlight, include the batteries for free, or if you sell pizza, you can add in free delivery.

Cyber Monday is almost exclusively an online “holiday.”  This is the Monday after Black Friday and is primarily focused on online sales for electronic entertainment like TVs, movies, and games for those too busy over the weekend to take part in Black Friday.

Customers typically hit the aisles early on Friday, then kick back on the couch for Cyber Monday. Businesses should not only find the right balance of prices to stay competitive and not lose money, but they must also find an angle on the event that really appeals to their demographic. What’s important for businesses to note is how you choose to embrace it, or how you can make a success out of not embracing it.

What do you think? Should you promote a Black Friday or Cyber Monday Deal? Let me hear your comments below.

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