Thanksgiving’s all well and good – who doesn’t love having a great dinner celebrating everything we’re grateful for? But for many people, the real excitement begins after that: Black Friday and Cyber Monday are both coming, and that means some great shopping deals just as the Christmas season begins.
Whether they’re buying things for themselves or scouring for great Christmas presents, people count Black Friday and Cyber Monday as some of the best times to find bargains. In the meantime, businesses can use this as an opportunity to introduce new products, move their stock, or promote their brands – or they can use these days to shop for materials they may need. It should go without saying that your company needs to leverage these two shopping events in a way that benefits their organization.
But first things first…
In case you’re very new to the whole Black Friday and Cyber Monday thing, here’s a brief primer:
Black Friday is the day after Thanksgiving, and it typically involves major outlets putting big ticket items on sale. As this generally applies to brick-and-mortar stores, many people associate this day with long lines, heated arguments, and the occasional riot. That being said, it’s still arguably the best time to spend on products.
Cyber Monday, on the other hand, is the Monday after Thanksgiving. It usually involves online shopping, offering people great deals from online retailers. Unsurprisingly, this is less dangerous than Black Friday although it does still inspire some frantic buying on the part of people. Still, it’s a great and convenient way to get bargains.
Recommended for YouWebcast: Relationship Marketing: How to Build a Relationship that Converts to Sales
How to leverage these events for business
As mentioned before, businesses can use these events to their advantage – they can either offer great deals, get great deals, or both on those two days. It may seem simple, but it still takes a whole lot of preparation for these events. After all, Black Friday and Cyber Monday can be really hectic and you need to make sure that you can handle the stress that either day might bring. How do you do that? Well…
When offering deals on those events: If you’re thinking of putting products up on sale for either of these shopping events, you need to determine how much you’re taking off the original price of chosen items and the manner by which you’re going to announce your sale. As difficult as the stock evaluation is, advertising your Black Friday/Cyber Monday can be considered far trickier because a lot of brands will be making similar promotions. The best (cost effective) way to handle this is to regularly share the news on different communication channels like social media or even your RingCentral phone service (through call waiting).
When taking advantage of deals on those events: If you’re thinking of getting great bargains for your business out of these days (in the form of electronics and the like), then you need to have a game plan too. Make a list of everything you want to get, and make sure you’ve researched their specifications before the sale days. Try to find out if there are extra discounts for certain things like being an early bird or making use of credit card rewards. Finally, don’t get distracted by the other nice things on sale.
Don’t lose this opportunity to promote or improve your business!