I know that whenever you read “Black Friday”, the first thing that comes to mind is what will be on sale in Sephora or how much you can score cheap Christmas gifts from Target. Black Friday for small businesses is rarely something new entrepreneurs would participate in.
But the limelight shouldn’t just be on the big players this Black Friday. In fact, you as a business owner can benefit a lot on this day! If you’re at a loss on what to offer this Black Friday season, here are five ways you can start today:
Offer a freebie
One of the reasons Black Friday for small businesses doesn’t really take off is because new entrepreneurs still can’t afford to cut prices, which basically pushes them to give products that are as good as free!
If you’re not yet ready to sell your products at an unbelievably low price tag, there’s still an opportunity to catch the attention of current and potential customers:
Give them a freebie when they buy something from you this Black Friday. It can be something that’s low cost enough that you won’t mind parting with.
A new product offer can also be a great freebie as this can also be a chance to gain customer opinions and see if it will do well in the market.
Bundle up your products
Since everyone’s goal, this Black Friday is to get more bang for their buck, they would also keep an eye out for buy-one-get-one deals. Bundled products are a great way for customers to buy two things at the same time as they’ll be focusing on the whole package, rather than the individual prices of the products.
Let’s say you offer your essential oils for $25 a bottle while your scented candles are at $15. You can offer a Self-Care package for $35 with one essential oil, one scented candle, and a handwritten note thrown in.
While it’s just a $5 discount overall, a themed packaged offer can have a “shiny new object” effect on customers. It puts them in the mindset that since they have this one product, it must be really nice to complement it with this other product.
Don’t compete with the offers of big players
I know how tempting it is. If many people are buying hats this Friday, why shouldn’t you offer the same hat when it will boost your sales?
Well, there’s a chance that it won’t. You’re new in the playing field and you can still be ignored by cold leads. But it doesn’t have to end here. Instead, you should focus on what your store sells best.
If you already have a following, they’d be excited to see that you’re offering the product they keep coming back for at a discounted price (*crossed fingers, wishing they’ll hoard 😂*).
It can also create a buzz in the market, attracting new customers who have never heard of you before. This boosts chances of gaining more regular clients in the long run.
Focus on your online storefront and offer free shipping instead
Since Black Friday is the time when everyone and their mother is rushing to the store, long parking lines and checkout counters can easily turn off non-hardcore shoppers (you know, the ones who’d rather stay at home even when there’s a great deal waiting for them in malls?)
This is the perfect time to beef up, prettify, and promote your online shop. While physical stores won’t be dying out anytime soon, more and more people are shopping from their mobile phones nowadays.
So even when you won’t offer discounted prices, you can opt for offering free shipping that will entice online shoppers into thinking they also got a good deal from your store this Black Friday. Remember that convenience is still the best way to catch a customer’s attention.
Do a “clearance” sale instead
For product-based entrepreneurs, there’s a chance that you have unsold items in your inventory. Rather than letting them all go to waste (read: no profit), it’s best to sell them at a really low price and still get the money that you invested in each item.
For service-based entrepreneurs, this is a time to take a look at the services that aren’t usually availed by your clients. Use Black Friday to shine the spotlight on them by offering it at a discounted rate. Who knows? Maybe someone needs it but the only thing stopping them was the price. This benefits you as people are made aware of the fact that there are more things you offer than your usual skills.
I hope this shows you that Black Friday for small businesses can also be a thing, especially when you’re strategic about it. Even when you’re just a new entrepreneur, there’s always a way to catch the attention of your audience.