Black Friday is a tradition that began in the United States and aims for storeowners to empty stocks to make room for Christmas items. Eventually the day of promotions ended up arriving here in Brazil, although it became known as Black Fraud because large virtual retailers ended up increasing the price of products days before Black Friday and then lowering their prices, giving a “false discount” that left a lot of dissatisfied people.
Nowadays, with increasingly intelligent and demanding customers, these bad practices have been abandoned and the Brazilian consumer is already more accustomed to expecting good offers on Black Friday. Thinking about helping our customers, we've separated some tips on how you can make the most of the date, even if you have not prepared yourself yet.
Tip 1 - Analyze your Stock
Before we start talking about promotions and offers it is important to understand the current situation of your stock. There is no point in filling your store with products with low prices if you will not have stock to supply the demand. If you do not have good inventory control you may end up running out of products for Black Friday promotions and you may not even be able to replenish your products for Christmas. So be careful with your stock's turnover levels.
Do not forget that stopped merchandise is a loss and that Black Friday exists just to clear the stock, so make joint sales of products with little output with products with a lot of output. Making good product kits with stranded products is a strategy that some clothing stores usually do at this time of year: Buy 1 shirt and take the second one for half the price, for example.
2 Tip - Be honest with your customers
This is a point that I always like to put in my posts with tips here from LUZ and it is a tip that can never be missing: Do not try to deceive or harm your customers and be as sincere and transparent as possible. If in any way your customer could end up being harmed by your promotions, let them know.
A good example of this are delivery dates: On the last Black Friday, several internet retailers sold several products at high discounts, but at the time of closing orders (and only there) they were notified of the highest delivery time. Both on the product page and in the shopping cart, the websites indicated a shorter deadline than the one stipulated when closing the order. Many people did not see the difference and ended up buying with this longer term. Now imagine the scene: many customers take advantage of Black Friday to buy Christmas gifts, but the orders placed on the date ended up being delivered only in January. Have you ever thought buying a Christmas present doesn't arrive? Ball out!
Another problem is if you sell products where the stock is not in the store and the products are delivered directly to the customer (mattresses, furniture, some electronics, etc.): Take care of your stock level. Do not forget that demand is greater that day and do not end up selling product that you do not have or that will still be done, and can delay delivery. Do not forget it's the end of the year and, as in the case above, do not ruin anyone's party!
Tip 3 - Let people know who already bought with you
If there is one thing I like and I'm sure you're also getting a unique discount from some store where you've already bought it. You already know the product, you already know how the customer service of the store works and still get a discount? Nothing better than that!
For those who have a CRM it's easy to do this kind of action: Just call your customers a few days before Black Friday and tell them that the store will get a discount exclusive to it. If you do not have time to call, no problem: You can send an email notifying the promotion. If you do not have this type of customer registration, it's never too late to start (and we have a Spreadsheet that can help you with this, Click here to learn more)!
An important point: Even if you do promotions for people who are not yet your customers, be sure to do something special for those who have already bought with you. Loyalty often starts with small actions like that.
Tip 4 - Advertise your Black Friday promotions
It's no use just telling your salespeople that discounts will happen and waiting for people to come into your store. You have to announce that you have Black Friday promotions. And you do not need a lot of money to do this, actually with little money you can:
1) Buy a Flipchart or a Blackboard and put it in front of your store. So you don't have to spend money on a flyer or folder. Just write a flashy text talking about promotions and put the easel on your store's door. So you already attract the attention of interested people who are passing by on the street.
2) Ask your customers to talk about your promotion. With this you get the best of ads, word of mouth. You can also give exclusive discounts to your customers and the people they refer to, for example.
3) If you already have a presence on Social Networks like Facebook and Twitter, do not forget to warn your tanners / followers in those networks. Let me know a few days before and do not forget to also post on Black Friday.
5 Tip - Who provides services can also participate
Although Black Friday has become famous because of product sales, you who provide services can also enjoy the date. Call your customers and offer exclusive promotions, such as sales of more than one service with discounts.
You can also resume contact with potential stakeholders in your service who did not close deals at the time of the deal. A discount on an old proposal can help you close new contracts!
And even if you provide services without stock, don't forget that you will need to fulfill all closed deals. Then study your schedule and see if you will be able to accomplish everything you are promising to all customers!
These are our Tips for you to enjoy Black Friday better. Do not forget to take pictures and send them here in our comments, or through Facebook or Twitter, how you used these tips and took advantage of Black Friday to sell more!
To the next!