It’s that time of the year when everyone and I do mean everyone is looking forward to huge savings during the biggest shopping season of the year. Black Friday and Cyber Monday are when retailers can boost their revenues many folds if their marketing campaigns work as intended.
Laying the groundwork for a successful sale
As a merchant, you will no doubt want to maximize your potential earnings during this period. To help you do so, you can follow some of the items on our checklist below:
- Check out the trends for this year and make a list of what items are in fashion or highly desired.
- Based on previous years’ sale data, anticipate the quantity of the items you need to have in your inventory. You would not want to run out of stock halfway through your sale.
- Decide how much of your profit margin you are willing to slash per item. You should still be able to earn a good amount of profit by sales volume.
- Make sure you have sufficient manpower to process the orders. Prepare to hire temporary staff if necessary.
- For online retailers, you need to check with your IT team if the servers are up to the task of handling the massive amount of traffic that’s bound to come your way. Plan accordingly as downtime is not acceptable as it will lead to financial losses.
Putting your marketing plans into motion
As with all sales, marketing is key to increase awareness of what items you’re discounting for the sale period. With such a huge amount of revenue at stake, you will need to go all out.
Your marketing team should have big and flashy social media campaigns to start promoting the items that will be on sale. If your customers are aware of what’s coming, they also will be prepared to buy when the time comes.
Increase the volume of your email marketing newsletters. Start sending them out more frequently too. Remind people of the pending sale and how much they can save. Don’t forget to clean your mailing list first to clear out old emails with MailboxValidator. It also helps if you have segregated your mailing lists by categories of items your readers are interested in.
It takes time for a marketing campaign to bear fruits so starting early will give you a potential head start over your competitors.
When you are doing your social media and email campaigns, make sure your contents are non-repetitive. Change it up each time by promoting a different product. You don’t want people to get fatigued with the same old thing.
One way you can keep your audience engaged is the use of mini games. Give them a link in the social media post or in your email newsletter. Clicking on this link should take them to a page where they can play fun mini games to earn discount vouchers or win free stuff.
Black Friday and Cyber Monday should be a joyful time for all. The merchants get to boost their incomes and the customers get to buy heavily discounted items that they’ve been longing for quite a while. Everyone wins.
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