11 BLACK FRIDAY SALES TIPS TO MAXIMIZE PROFIT 2020
Are you looking to boost your sales and maximize your profit? This article highlights top black Friday sales tips you should adopt to increase your sales
What does “Black Friday” mean to you?
Do you see it as a mere opportunity to momentarily boost your sales?
The truth is that Black Friday is more than what you think.
Black Friday is a seasonal opportunity for business owners to attract sales and build customer loyalty for the long term, by offering special deals. By setting up Black Friday deals, you position your business to record several transactions, build brand awareness, and enlarge your customer base.
Sadly, many business owners don’t know how to leverage this season. As a result, they record poor sales during this period.
Research has shown that consumers double their purchasing behavior during the Black Friday season, to take advantage of the season’s huge discounts. This makes it vital for business owners to double up their efforts and leverage on Black Friday to increase their business.
If you own a startup or existing e-commerce site or physical business, this piece on Black Friday 2020 sales tips to maximize profit is for you. If you wish to know the best ways to maximize profit for Black Friday 2020 sales, then join me on this ride.
11 BLACK FRIDAY 2020 SALES TIPS TO MAXIMIZE PROFIT
The importance of running Ads for your store cannot be overemphasized. With a well structured and targeted Ad, you’ll broaden your audience and push your business to people that have not visited your website but are interested in your products. When your Ad is unique and irresistible, people will surely click through to your website.
Depending on your products, some of the Ads you can work with include PPC, Facebook, and Instagram Ads, Twitter Ads, LinkedIn Ads, etc.
Create Unique Promotions
As you make plans for the big event, you mustn’t forget that your competitors are looking forward to Black Friday to maximize profits too.
How can you stand out and outsmart them?
You need to think outside the box and create unique promotions that your customers can’t ignore. Think about what other sellers fail to do on Black Friday and leverage it to engage your audience. For instance, you could offer your customers free products if they make purchases over a certain amount or purchase a certain number of products.
When you make promotions, ensure that they’re well detailed, so your customers clearly understand what they stand to gain if they shop with you. Also, you should place your promotions where customers can find them quickly. Furthermore, you can also decide to work with pop up promotions.
Note that your homepage is a great page to place your promotions if you have a website.
Create Irresistible Promotions
The best way to get your customers “hooked” is to make your offers highly irresistible. Your offer can be unique yet fail to capture the audiences’ attention.
You should play on the psyche of your customers by creating the FOMO (Fear of Missing Out) factor and including a countdown timer on each offer you promote. This will make your potential buyers feel they have limited time to make a buying decision or lose out on your deal.
Include a Video Sales Pitch
Videos are powerful tools in marketing; use it to your advantage to make customers rush to grab your Black Friday deals. Ensure your video highlights the needs of your target market and explains how your products will address these needs effectively. Create urgency and scarcity by stating that the offer won’t be available until Black Friday after which discounted prices and offers will be withdrawn automatically.
With a highly engaging and compelling video, you’re sure to have increased sales.
Conduct Inventory Reconciliation
It’s not enough to set up offers for Black Friday and sit back expecting massive orders.
What if you run out of stock within a few hours of announcing your Black Friday 2020 deal?
You sure don’t want to be in this situation.
Prior to the season, you should know what you have in stock, what items will be shipped within the next few days as well as fast-moving items on your list. This will help you decide on the products to put up for great deals and which to reduce their prices as discounts.
Also, ensure your current POS (point of sale) supports inventory tracking. You don’t want to get several complaints from your customers afterward, do you? This won’t mean good for your business.
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Strengthen your Site to Accommodate Traffic Surge
This is one thing many business owners fail to consider as they make plans for business growth and increased sales.
Can your website handle the Black Friday traffic surge?
If not, then now is a great time to start making some changes and upgrades.
You don’t need to fret about it.
There are plenty of tools you can use to check the health status of your site ahead of the big day. Tools such as Google PageSpeed Insights will help you know your website’s stand regarding speed and responsiveness. Irrespective of the tool you decide to use, ensure your site is adequately tested before the rush begins.
Ensure Your Site is Mobile-Friendly
As users spend more time on smartphones than PC, surfing the internet, it’s an eye-opener for business owners. It means you should ensure your business is not just found on the web, but that it can be easily accessed on mobile too.
If you are planning to maximize your profit this season, ensure your website’s template is mobile-friendly. The truth is that most of your prospective buyers would stumble on your offer on their smartphones.
Can they shop easily with their smartphones on your store without hassles? You’ll get more sales when they can.
Update your Return Policy
This is one of the black Friday sales tips few people will tell you. No matter the urgency of the offer, many customers would want to go through your return policy before making a purchase decision. Therefore, ensure your return policy is clear and concise and the process of returning products, hassle-free.
Your chances of making a sale significantly increase if a customer finds the process easy and smooth.
Get your Technical Team Ready
During the season, you may need to handle technical issues on your site. Some of these issues include shopping cart not loading items, problems with checkout page, and other issues that may arise periodically. These issues are typical and can occur suddenly. Also, it may take a few hours to some days to get it fixed depending on the complexity of the problem, and the technical personnel in charge.
However, you undoubtedly don’t want any of these problems to ruin your Black Friday. This is why it’s essential to get your technical team ready and up for the challenge.
If you’re a startup without a professional team, I recommended you have a tech assistant available to handle any of these cases as soon as it arises. If yours is a brick and mortar store, consider hiring more staff to accommodate the crowd of buyers and those who troop in to catch a glimpse of your amazing offers.
Don’t Forget SEO
Although this sounds like an everyday tip, yet, many still fail to put it into consideration as they prepare for Black Friday. How easy it is for customers to find your products and other offers online?
SEO is essential; whether you have a physical and online store or just an online presence, consider updating your business Google profile and optimizing your store for search engines. Having an incomplete business profile on search engine listings means you’re missing out on sales already.
Post relevant content on your website or blog and leverage other SEO practices that relate to your chosen niche. The more you do this, the better chances you have of having your business ranked for most niche related keywords.
The best way to ensure all is set for Black Friday is to test everything from the front end to the back end. Ensure there are no glitches during the shopping process. If any issue arises during the test, fix it quickly, so it doesn’t hinder your sales during the period.
I recommend that you test the process several times and get the feel of user experience on your site before you conclude that all is fine and set for Black Friday.
Bonus Black Friday sales Tip: Set a Reward
It’s essential you set a reward program to encourage your customers not to only shop during Black Friday, but to also come back as return shoppers. Remember, you don’t just want huge sales on that day; you also want customers to return to your shop even when you don’t have deals to offer.
You can set up a reward system to drive in more sales and return visits after Black Friday. Besides, it’ll add value and make shopping fun for your customers.
For instance, you can set up a tracking pixel or software that’ll automatically update the reward progress of customers as they shop on your site. If done well, your customers will be aware that they’re in for a reward each time they shop on your website. They may even refer their friends too. In the end, you must have successfully converted seasonal shoppers to year-round loyal customers.
Conclusion on 11 Black Friday Sales Tips to Maximize Profit 2020
In conclusion, Black Friday, when used well, can be the chance you have to achieve a brand breakthrough. If not used well, it can be to you, the same thing it is to the average business owner – A time to offer great deals. Adopt these 11 Black Friday sales tips to maximize profit and you’ll be reaping the benefits for years to come.