Black Friday 2024 is more than a mere opportunity to boost sales. It’s also a time when proper strategy and careful preparation are key. Is your store ready to harness the full potential of the largest shopping event of the year? We’ve got some tips on how to do it right!
Black Friday has long been one of the most important days in commerce, attracting millions of consumers and generating huge profits for sellers. In 2024, the expectations towards this day are even bigger, and the competition – stronger than ever. In order to stand out from the crowd and maximise your profits, you need meticulous, data-based planning and a carefully thought-out marketing strategy. Success on Black Friday requires more than simply cutting prices: efficient analysis, offer optimisation and top-notch customer service are paramount.
Data analysis – the foundation of your strategy
Efficient preparation for Black Friday should start with detailed analysis of sales data from previous years. Numbers help gain insights into which products customers preferred and which ones generated the highest margins. Promotions should not apply to the entire assortment – it’s worth focusing on the products which guarantee high margin and attract customers at the same time. Offering discounts on everything regardless of profitability may bring more losses than gains. Therefore, it’s better to focus on selected offerings that will provide a balance between the attractiveness of the promotion and the profitability of the sales.
It is also a good practice to use Black Friday as an opportunity to clear out products that are sitting in stock. Inventory analysis carried out a few weeks prior to the promotion should not only help plan effective sales, but also make room for new collections and products with greater profit margins. Such an approach not only facilitates stock rotation but will also get the warehouse ready for the new arrivals. An equally important step of the preparations is developing a marketing budget that meets the actual needs of the Black Friday campaign. By analysing the results from previous years it’s possible to allocate finances more efficiently among the promotional channels that delivered the best results, ensuring the maximum return on the investment.
Inventory – the key to success
On Black Friday, customers expect a fast and hassle-free customer service. One of the crucial elements of this experience is the proper availability of goods. Insufficient number of products in stock may lead to customer frustration and sales losses. Therefore, it’s essential to carefully analyse sales forecasts and stock the store with the appropriate quantities of the most popular products already during the planning stage of the Black Friday campaign. Inventory shortages at a critical moment can undermine the entire sales strategy; therefore, it’s important to place orders with suppliers in advance and ensure a steady supply, especially for the most popular products. An important step in the preparations is also maintaining a close collaboration with suppliers to make sure that it is possible to quickly restock any shortages if necessary.
How to attract new customers?
Your website is your store’s business card, and during Black Friday, its design and functionality can be crucial in determining whether a customer makes a purchase or decides to leave the page. The whole website must be clear, visually appealing and easy to navigate. Creating a special ‘Black Week’ tab in the menu will provide the customers with easy access to sale items. It’s also important to create effective advertising banners to successfully promote the biggest deals. Banners should be visually attractive yet clear: your customer must be able to immediately grasp what you are offering and how they can benefit from the promotion.
Equally important are ‘Call to Action’ buttons, which must be clearly visible and encourage quick action. CTA should lead customers directly to the discounted products, reducing the time needed to make a purchasing decision. In addition, it’s worth considering a photoshoot to showcase your products and highlight their unique character, in line with the overall promotional campaign.
The power of social media: how to create suspense?
In the era of social media dominance, social platforms are often where interest in your Black Friday offer begins to build. Therefore, a few weeks before Black Week you should launch an intense social media campaign. It is key not only to inform about the upcoming promotions, but also to create anticipation around the event itself. You can achieve this by: organising contests, hosting live streams or collaborating with influencers who can broaden the reach of your offer.
Regular posts and engaging content, like announcements of exclusive deals, build excitement among your customers and encourage them to stay informed about your store. Social media activity should be diverse, so that it reaches both new and regular customers. It’s a good idea to post original content that will stand out among numerous competitive offers.
Top priority: personalisation
One of the key elements of a successful Black Friday campaign is personalising communication with customers, especially in e-mail marketing. If you don’t want your messages to get lost among other offers, you need to adjust them to your customers’ preferences. Segmenting the customer database based on their previous purchases enables you to tailor the message content and recommend products that are most valuable to them. Personalising your offer increases the likelihood of closing the sale, while also building customer loyalty.
Marketing automatisation may also substantially increase the campaign effectiveness. With marketing automation, you may remind your customers about the products left in their shopping cart and inform them about the promotions on the products they previously viewed. Such personalised reminders and messages serve as an additional incentive to make a purchase.
How to increase the cart value?
During Black Friday shopping, customers expect special promotions that will motivate them to buy more products. To meet their needs, you should consider implementing additional promotional strategies, such as ‘2+1’ deals, free shipping on purchase over a certain price, or flash sales. Such promotions not only attract customers, but also create a sense of urgency and exclusivity, fostering quicker purchasing decisions.
Offering a variety of promotional options provide customers with greater choice and encourages them to visit your store more frequently in search of the best deals. Creating well thought-out and engaging offers increases the likelihood of raising the shopping cart value.
Customer service – your secret weapon
Even the most attractive promotion doesn’t guarantee success, if your customer has problems getting an answer to their questions. So, it’s essential to prepare the customer service team in advance by increasing the number of employees or implementing chatbots that automatically respond to frequently asked questions.
Make sure that the team is well-trained in promotional assortment, so that they can reply to answers fast and reliably. Response speed is also key – the shorter the waiting time, the greater the likelihood that the customer will make a purchase.
What should you keep in mind?
Black Friday 2024 is more than a one-day sale: it’s a complex campaign which requires a well-considered, data-based strategy, proper inventory and effective marketing messaging. Effective website design, active social media engagement and personalised email marketing are just a few factors that can determine your success. However, what matters most is customer service which will encourage your customers to return to your store all year round, not just on Black Friday.
