Black Friday is a big deal for businesses! Can you guess why? It is literally one of the only days of the year where people wake up with the mindset to buy. The statistics I outline below are real and if you want a piece of the pie you need a plan and a darn good one at that. In this post, we are going to give you 5 ways to maximize your revenue this Black Friday.
But first!….. The statistics!
Just how much pie is out there? According to CNN Money – shoppers spent around a billion dollars in 24 hours last year.
According to The Balance – In 2016, there were 101.7 million people who braved the crowds. That’s more than the 74 million in 2015. The next biggest day was Saturday when 64 million people went to stores.
Only 33 million shopped on Sunday. The fewest, 29 million, left their homes on Thanksgiving Day 2016. In total, 137 million people went to stores over the four-day Black Friday weekend in 2016. That’s a third more than the 102 million in 2015.
Maximize your Revenue this black Friday-
More people went online since stores put their best deals on their websites. Online sales for Wednesday through Black Friday was 26.4 percent higher than in 2017, estimated Adobe Systems. In 2017, online sales were up 18 percent.
The projections for this year are even higher so it would only make sense to position yourself to take full advantage of this year’s momentum.
Build anticipation by starting your promotions early
If your goal is to remain competitive this holiday season, then you have to start early. Special offerings reserved for Black Friday and Countdown to Black Friday Deals are a great way to build anticipation and generate a spike in sales
Create an irresistible offer
This is not your basic get 5% off “because we love you” kind of sale. This is the kind of offer that will make your customers pull the trigger because they are getting a deal. Capture the attention of your audience with headlines such as “15% off our entire site, Black Friday Only” – May sound cheesy but it creates a sense of urgency and that is the kind of copy your customers are searching for anyway.
Once you have determined what your irresistible offer is, then you have to start promoting that offer on time and by ‘on time’ we mean the day before.
Black Friday sales are starting earlier and earlier every year and your customers expect an early offering as they scroll through their phones after Thanksgiving Dinner.
Create a social media strategy
What platform’s do you dominate on? Build engagement, by scheduling posts to that platform during the week before Black Friday. Plan to create a number of posts that will hit timelines multiple times for the best chances of your offering to be seen.
If you dominate on Instagram, use tools like Hootsuite to schedule your posts with compelling copy. If Facebook is your jam then schedule posts within the platform multiple times a day over a period of time before Black Friday.
Paid traffic strategy
Pick a social platform where you will spend AD revenue to get the best result! At the end of the day, this is the business model for our favorite social media platforms and they plan to enjoy our Black Friday cash just as much as we enjoy our sales.
If you plan to spend money on advertising ensure that you put your best foot forward with great imagery or video.
Create an email series
Email communication is important and to keep things simple you should create campaigns that you know work for your audience. According to Wordstream, customers who purchase through email are likely to spend as much as 138% more than those who don’t receive an email offer. Need help with email copy? Fill out this form and we can talk about it.
Create sales funnels
A sales funnel is simply the path a website visitor takes on the way to making a final purchase. For example blog posts that describe how a product is used with click-through links to the product is a sales funnel.
There are four sales funnel stages – Awareness, Interest, Decision, Action!
Blog posts are one of the easiest ways to set this up because you can creatively take the customer through each stage with just 300 words or more.
Your Black Friday plan should include an irresistible offer, a social media plan for promoting that offer, paid advertising to drive more traffic to that offer, an email series and sales funnels.
Figure out your graphics, blog posts, email copy and social copy on time so that you can create more opportunities for your customers to purchase from you.