Four suggestions to get your small business ready for Black Friday
One of the most eagerly awaited shopping occasions worldwide, Black Friday, is rapidly approaching. This is the time of year when major retailers want to draw in early holiday gift shoppers, bargain hunters, and people searching for self-care indulgences. Local small companies can participate as well, given enough thought and careful preparation.
This year, a lot of South Africans are feeling the pinch of the economic slump due to the cost-of-living crisis and growing inflationary pressures. The consumer market has grown extremely competitive, which is one of the main fallouts of these financial realities. Nearly all brands and companies in the nation will be competing for customers’ attention on Black Friday in particular.
Without a doubt, there will be fierce competition in a market that is overrun with promotional messages. Small businesses must master the fundamentals, search for strategic openings or gaps in the market, and concentrate on their strongest suit—problem-solving—if they want to succeed.
A good place to start is with these four suggestions.
1. Make use of client loyalty
Having a day like Black Friday allows you to bolster your database, which is one of the main advantages. In order to “unlock” early access to your deals and promotions on Black Friday, you might want to think about offering incentives to prospective customers who subscribe to your newsletter or sign up for promotional materials. Clear and enthusiastic communication of this could result in the onboarding of new clients. Additionally, it’s a fantastic chance to provide your current subscribers with genuine value, which is a tactic that may maximize client retention. You’ll have a bigger customer base to draw from later on if you use Black Friday to grow your following, regardless of whether your expanding database results in actual sales.
2. Saturday for small businesses
Small Business Saturday is a positive trend that has emerged abroad. The Saturday following Black Friday is devoted to small businesses and encouraging interest in purchasing from local entrepreneurs in nations such as the United States. As a result of the fact that this trend has not yet gained traction in South Africa, early adopters will also benefit from the fact that their market is still uncrowded.
You may decide to postpone sales and promotions until Small Business Saturday, or you could make the offer more enticing by having a welcoming event for new customers at your store or by holding contests and giveaways on social media. Additionally, now is the perfect time to spread marketing messages emphasizing the value of supporting locally produced goods that are more sustainably produced, small-scale artisans, and proudly South African brands.
3. Determine the appropriate price
Many South Africans are experiencing excessive financial strain due to a variety of factors. Due to the prolonged energy crisis, continuous increases in the prices of food and fuel, high unemployment, and rising borrowing costs, South Africans are more price conscious than before. Although this poses a challenge, it also presents an opportunity.
You might be able to provide value as a small business in ways that larger ones can’t. For instance, you could offer free delivery, bundled product discounts, or free gifts with purchases to appeal to budget-conscious customers.
Additionally, you might think about collaborating with other small companies to provide group discounts and opportunities for profitable upselling of your products. Making the right price this Black Friday will be crucial, so pay careful attention to what your competitors are charging and make sure your goods and services are priced competitively.
4. A look at e-commerce
In the run-up to Black Friday, it’s critical to make sure your website is optimized for sales and lead generation, as more consumers choose to shop online. Conducting an audit of your website could be beneficial as a prelude to increased visitor numbers.
A clear call-to-action to shop or subscribe, high-quality product images, quick access to Black Friday deals, and well-written content are all important factors to take into account.
Additionally, keep in mind that a growing number of South Africans will be making purchases on mobile devices as the country becomes more mobile-friendly. Therefore, make sure your mobile website offers a flawless, error-free experience from deal discovery to checkout.