As a savvy business owner, jumping on opportunities as they arise is one of the easiest ways you can win. And with Black Friday and Cyber Monday (BFCM) sales being the hottest retail topic every year, there’s none better. This is the perfect time to attract new customers with Black Friday marketing and make up for any quieter times you might have had during the year.
But priming yourself for BFCM is about more than just offering great deals and making sure you’ve got stock. Businesses should keep an eye on customer retention, social media, marketing and payment options to ensure they’re doing the most.
Read on to tap into the power of BFCM sales for your brand.
Christmas has long been known as the shopping season. But in recent years, BFCM came and kicked Santa off his sleigh. For customers, these sales are the perfect opportunity to grab a deal on gifts. For businesses, it’s when your marketing should start to ramp up.
According to the Australian Financial Review, customers around the world spent a whopping $US4.1 billion (that’s more than $6 million Australian) during Black Friday sales in 2023. And that’s a tasty pie you want to get a slice of.
Thanks to the boom in online shopping, businesses have created new ways to sell online. Some have even changed their product offering entirely. And if you’ve had slower parts of the year, BFCM presents the perfect chance to make up for them, gain traction and increase sales in the lead-up to Christmas.
Sure, BFCM is a great opportunity for businesses to attract and build relationships with new clients. They should focus on getting new long-term customers rather than one-time buyers, so having strategies in place is a must.
But it’s also equally important to retain and reward current ones. Continue focusing on pleasing your loyal customers and leveraging these existing relationships. Extra discounts, a gift with purchase or free shipping are just a few ways you can share the love. Plus, it rewards customers who are already brand advocates, boosting your customer retention.
Now that online shoppers have become even more savvy in the digital landscape, they know how to comparison shop. And they’ll gladly spend hours scouring multiple websites to find the best deal in the market. Price your stuff as affordably as you can, and keep a keen eye on your competition.
Social media has changed everything, no doubt. And for retailers, it’s the perfect Black Friday marketing platform to spread the word about your deals.
As consumers increasingly turn to ‘social commerce’, this major trend is influencing holiday shopping. Customers crave connections and engagement more than ever and use a whole bunch of social media platforms to get it.
According to Hubspot’s data, 27% of consumers are discovering new products through social media. While the Future Shopper Report shows that 53% of consumers plan on shopping more through social media in the future. As it turns out, consumers want to invest in your brand values as well as your products. Social media makes it possible, converting consumers from everyday platform followers to lucrative shoppers.
So, what’s a brand to do? Increase awareness and demand for your products across multiple social platforms. By offering compelling yet emotional BFCM deals, you’ll reach new audiences and boost sales.
Running a small to medium local business? The news is good. Reports show that Australians prefer to shop with local retailers and manufacturers. But you still have to put in the effort.
Consumers want more from a business if they’re going to buy local. They want a connection, a relationship, a sense of community and good vibes on their side of the purchase.
As a small business, stay engaged with your local community through collaborations with like-minded businesses or rewards programs for loyal customers. Get into the Black Friday marketing, while staying true to your brand. And, most importantly, encourage shoppers to keep coming back with BFCM offers that show you care.
Beyond the Black Friday marketing and customer retention jazz, your customers just want a simple shopping experience. Whether it’s in-store or online, having a simple option to tap, swipe or wave takes some of the stress away. That’s where we come in.
The right EFTPOS solution means you also get a chance to save during the holidays. If you’re not surcharging, you’ll probably cop a bigger EFTPOS bill when the sales commence. We can help with that. Smartpay Zero Cost™ EFTPOS cuts those fees to zero, so you won’t get penalised for making more money.
Keen to learn more about how surcharging on EFTPOS works and what you could save? Get in touch with our Payment Specialists who’ll answer all your questions and help you discover what Smartpay can do for your business.
or Contact Sales on 1800 574 999
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