Right about now, consumers are making their holiday shopping lists, checking them twice, and gearing up for holiday sales.
The busiest shopping time of the year is just around the corner.
And this year, it's only expected to be busier than ever.
As a small business, you may be wondering how you can compete for attention and make those sales.
But before we kick off, let's take a look on;
What's new in marketing?
Instagram Makes Links in Stories Available to All Accounts - Instagram has announced that links are now being made available in Instagram Stories for all users, not just those with 10k followers or verified accounts.
In the middle of a crisis, Facebook Inc. renames itself Meta - Facebook Inc. is now called Meta Platforms Inc., or Meta for short, to reflect what CEO Mark Zuckerberg said Thursday is its commitment to developing the new surround-yourself technology known as the "metaverse."
Twitter Launches Spaces Recording Option to Some Hosts - Twitter looks to make Spaces a bigger element of the in-app experience; it's now rolling out a critical update that could help to take it to the next level.
Facebook outlines a multi-year plan to rebuild targeting systems as growth slows - Facebook is spinning off its Reality Labs unit focused on augmented and virtual reality (AR/VR) hardware as a separate reporting segment starting in the fourth quarter.
Instagram Will Enable Users to Upload Photos and Videos via Desktop from This Week - Instagram has announced that it's adding an image and video posting functionality from the desktop version of the platform as of October 21st
We're about to enter the Holiday Rush.
As a small business, you want to compete and make the experience enjoyable for you and your customers.
What can you do?
Well, let’s show you!
Black Friday Strategies: How Do Small Businesses Compete?
Competing with big companies is a challenge. Here are some strategies to get your small business out there:
- Email Automation: It saves you and the customer a great amount of time by eliminating the manual process of sending emails.
- For example, when someone visits a site, they are automatically added to a marketing database and categorized based on their interests, location, and behaviours.
- Increase your digital presence: By using social media platforms, you can increase your reach. Show off snackable content of your product in short videos on TikTok and Instagram.
To compete with larger companies, you can offer bundles with perceived value.
When selling a product, you can offer your customers an add-on with their purchase. These add-ons can vary depending on the product you are selling.
For example, if your company sells bundles of cheese, you can add a free recipe ebook to the bundle to sweeten the deal.
This, along with a gift card to your store or free shipping, can add value to your campaign for your customers.
Creating Value Bundles
Creating mixed bundles is a great way to bring sales.
Pairing items that compliment each other in the bundle help as well.
Pairing a higher-end item with an add-on will not only make the higher-end item more appealing, but it will give it a higher perceived value as well.
This can help with the selling of less popular items at no cost to you.
Offering complimentary items to your audience gives them a feeling of appreciation and feels like they are getting more than what they paid for.
Upsell and Cross-Sell
A customer has items in their cart, but how do you provide extra value while increasing your profits?
Show them offers they can’t refuse!
Upsell: Selling something more expensive than the original product.
Scenario: A customer has a 1lb bag of coffee in their cart and is instead offered a 2lb bag at a more cost-friendly price.
Cross-sell: Selling something in addition to the original product.
Scenario: A customer selects the 2lb bag of coffee and is then offered “complementary products” such as coffee filters and mugs.
Setting Up Subscription/Auto-Pay
Setting up a subscription/auto-pay is perfect for those
Black Friday rushes.
With the subscription/auto-pay, you can easily manage your process with recurring payments.
When setting this up, remember:
- Make it secure: It’s the client’s data, has it secured.
- Market to customers: Let clients know they can use it.
- Provide incentives: Offer clients an incentive to sign up.
- Convenience: Lowering friction.
Exclusive Promo Codes
Promo codes are a great and fun way to provide discounts to your customers.
During the holiday season, people tend to be buying more, so a discount is something that will quickly grab their attention.
What kind of promo codes could you give out?
- Percentage discount
- A new deal every hour
- Freebies with a purchase
- Discount for subscribers
- Group discounts
- Scarcity: A specific number of codes available
Perceived Value Drives Action
Who doesn’t love free things?
Use this to your advantage!
Offer “FREE” in benefits such as:
- Bonus rewards - Free Bonus Rewards
- Samples with every purchase - Free Samples
- Draws, prizes, exclusive offers - Frew Exclusive Offers
- Free shipping on all orders
Wrapping It Up
Black Friday and Cyber Monday is the kick-off to the holiday season.
It’s no longer just one day - it’s the busiest shopping time of the year!
We know it can be daunting, but with these strategies, we ensure that you will have a successful and joyful holiday season this Black Friday!
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