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Why Black Friday is an important day for your business?

Black Friday is approaching and many businesses have started preparing their promotions and marketing campaigns for the biggest shopping day of the year. Black Friday is an effective way for your business to boost their sales due to customers not wanting to miss the offers which are available to them. Here are a few reasons why the 25th November 2016 could be the most successful day for your business. This is why you should start preparing for Black Friday so you do not miss out on the substantial amount of revenue your business could potentially generate.

Why Black Friday is an important day for your business?

Black Friday originated in America but has become a huge hit in the UK. In 2015, UK stores generated a massive £1.1 billion in revenue on Black Friday. This was an increase of 35% on 2014. Businesses cut their prices by massive margins in order to entice customers into their stores. It is crucial that your business gets involved in Black Friday as a large percentage of the population will be out shopping. This shows that there will be a lot of potential customers for your store which will lead to your store becoming very busy. The offers will lure customers into impulse buying as they will not want to miss out on the deals that are available. This will lead to your sales dramatically increasing. Black Friday’s sales have taken over the sales of Christmas Eve and New Year’s day in the UK. The use of Black Friday offers will increase the popularity of your business which means even when Black Friday is over, customers may continue to come to your business. This means that you will be able to gain new customers who may repeat purchase which will allow your revenue increasing.

Tips on how to make Black Friday successful for your business

Send customised offers to loyal customers before Black Friday

It is crucial that your business plans a strategy for Black Friday. One way to do this is by sending customised offers to your customers which are redeemable on Black Friday. This will allow your customers to know that you are offering Black Friday deals which will lead to them choosing to shop at your business instead of a competitor. This shows that notifying the customers about the offers is effective because it will lead to them making sure they will be able to come to your store as they will not want to miss out on the deals. This will lead to your store becoming very busy which will have a positive impact on the sales and profit of your business.

Mystery Campaigns

Nearly all businesses will be offering Black Friday deals, this is why you have to be able to lure customers to your store instead of the customers shopping at a competitor’s store. One effective method is a mystery campaign. Many retail stores such as Forever 21 use this marketing method on Black Friday as it is very effective in drawing in customers. Your business could create a mystery campaign so when a customer spends a specified amount in your store, they will be eligible to receive a complimentary mystery gift. The gifts should vary from low cost items to expensive items because it will lead to the customer wanting to spend more money in your store so that they have a chance of winning an expensive item. The use of the mystery campaign will lead to more customers coming to your store and spending more money so that they have the chance to win an expensive product. This will encourage your sales and profit to rise dramatically.

Advertise

There is no point offering Black Friday deals if none of your customers will know about them. This is why it is crucial to have an advertising campaign to promote your Black Friday deals. An effective way to advertise your Black Friday deals is by placing adverts on social media and on websites. This will lead to a large audience seeing your deals which will lead to more customers wanting to come to your store to take advantage of the discounted items. This will lead to your business receiving a lot of customers on Black Friday and will lead to your sales increasing rapidly. This shows that promoting your deals will lead to a lot of customers shopping at your business as the deals will catch their attention. Social media is a powerful tool which you should take advantage of when promoting your Black Friday deals because there will be a very large audience who will see your posts. This will lead to more customers knowing about your deals which will lead to more customers buying the discounted products from your business. Hashtags are a useful tool on social media because it will allow your deals to be seen when a user searches a certain hashtag.

Open your store early

If you are expecting a high traffic of customers in your store, then it would be recommended to open your store early. This is because it will allow customers to visit your store before work so that they still have the time to visit your store. This will lead to you being able to serve a larger number of customers leading to your sales being able to reach their potential. If your business is located in a small premises, then having longer opening hours will allow the traffic of customers to be spread out which will lead to less people being in store at one time. If your store was packed all the time, then it may deter customers because they will not want to be queueing for a long period of time. This means that if your store is open for longer, customers will be able to find the products that they want conveniently and will not have to wait a long time to pay for their product.

Offer your promotions for the whole weekend

Many businesses will only offer their deals for a day, this is a mistake. This is because the whole weekend of Black Friday will have customers going to shops to buy discounted products due to the Christmas season starting. This shows that even after Black Friday has ended, customers will still be going around the shops to buy products. This means that you should extend your offers till Cyber Monday because the people who couldn’t visit your store on Black Friday will still want to buy your products. This gives your business the chance to continue to benefit from the increased demand from customers. This is evidence that the Black Friday Sales can have a huge impact on the annual sales of your business. On the Saturday of the Black Friday weekend, UK stores generated £561 million in sales. On the Sunday, they generated £676 million in sales and on Cyber Monday, UK stores generated £968 million.

 

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