Black Friday is one of the most tiring sales days of the year. For those who don’t know what Black Friday is, it is the Friday after Thanksgiving to sell off your products and services at less prices. It started in the US but has spread to different countries. For countries that don’t do Thanksgiving, businesses there fix Black Friday Sales on the last Friday of November.
Major products bought on Black Friday are electronic gadgets and products, from phones, laptops, iPads, to smartwatches, headsets, etc. You can see the quality products from the Honor Black Friday Deals 2020.
Now, a lot of small and medium-scale businesses are afraid of investing in Black Friday, either because they fear it’s too capital intensive, too stressful to prepare orders or lack of preparation to deal with all sorts of clients.
Whatever your case may be, not to worry!
This article is here to give you reasons why Black Friday Can boost your business in ways you couldn’t imagine.
Let’s delve in
Reasons why Businesses should invest in Black Friday
1. Gives you more sales opportunities
Black Friday is one of the few sales days that allows businesses to gain from incremental sales. You can sell more products through a specific deal or promotion on that day than you’ve sold within six months without it.
Since it’s towards the end of the year, it’s a great time to use opportunity cost and play on people’s emotions. Use the timing of the season and the customer’s mindset to boost sales for your brand.
How does this work?
Black Friday is the unofficial start to the holiday season, so people start buying products irrationally because of it, or due to peer pressure. Capitalize on that, plan your strategy, and execute.
2. It attracts new prospects
Apart from ads and paid traffic, nothing attracts new customers than Black Friday Sales especially if you’re using massive e-commerce platforms like Amazon. People are always on the lookout to get affordable products of great quality, so if they come by yours and like what they see, they will buy your product, thereby, you gain a new customer.
Even tech-savvy people can’t resist the ads and promotions they see on online sites regarding Black Friday. If they notice your product for the first time and see that you have something to offer, they will gladly go for it.
3. Enhance your brand’s reputation and image
What is brand equity?
Brand equity is the perception or idea your customer has about your brand, irrespective of what product you’re selling. For so many, Black Friday has been used to remedy the broken and damaged images of several brands trying to resuscitate themselves.
Growing businesses should take huge advantage of Black Friday deals to get awareness and exposure for their brands. It will be easy for you to attract new prospects in this period, as mentioned earlier, because they are more receptive to marketing efforts and great promotional deals.
Take note of how easy it is to play on customers’ minds, and create sales strategies that will trigger their emotions.