Decide whether your B2B business should participate
We are not trying to convince you that participating in Black Friday is a right and good thing.
It all depends on you.
But what we can do is give you some thoughts.
After experiencing the uncertainty of the past few years, now is definitely not the time to give up the discount and hope it will be rewarded.
Before embracing the holidays, you should consider the following things…
What is the ultimate goal of your Black Friday marketing strategy?
Yes, Black Friday is a sales holiday and it will bring new customers.
But are there other KPIs that are important to your business?
If so, ask yourself if you really need a discount.
Knowing your overall goals is the key to your success in your Black Friday marketing strategy this holiday season.
Ask yourself, can we make a discount?
If you decide to discount, how many discounts can you afford for your products or services without affecting the return on investment?
Remember, your costs will be higher than usual, especially when it comes to online advertising-the cost per click is higher and there are more bids!
If you can’t get a discount, what can you offer?
If things are a bit stressful, but you are still keen to enjoy your vacation during the holidays, please consider what to offer you at the least possible cost.
In the B2B world, your core product may be a long-term, high-cost investment that may not be discounted well (that is, you may lose a lot of money over a long period of time).
If your main product or service is something you cannot reduce, then please consider:
- What about the sideline? Do you have independent services that are more suitable for the Black Friday model (ie expert support, strategy meetings, data packages, etc.)?
- Can you discount only one element of your product through a transaction?
- Can you improve AOV and prevent customer churn by tailoring offers for customers instead of new customers?
- Can you segment a high-value segment of potential customers and offer them a quote, and only for them?
- If you want to add a bigger discount, can you upsell any of your other products and services on the Black Friday event landing page?
- Can you provide something for free to build loyalty?
Lisa Alexander of PR Secrets did just that. She thought about how to stand out on Black Friday, which led her to abandon the marketing training camp free.
“This event allowed people to experience my brand in a way that would normally not be available to potential customers. 41% of those who requested a free meeting had never been in contact with my brand before.”
Lisa N. Alexander
Consider realizing
Another important consideration for participating in Black Friday is whether you have (wo) the manpower to deal with the influx of users🦸🏾
- Do you need automation support?
- Are your training guides and help materials from scratch and ready to add questions?
- If you provide exclusive new products or services, have you conducted product training?
Is Black Friday right for you?
According to Henry Clifford Jones drum “American B2B brands may not go too far to target professional audiences around Black Friday, because this is a public holiday and most professionals will stay at home with their families.”
With this in mind, ask yourself: “Is Black Friday definitely the right day for me to launch an offer?”
Some brands enjoy less competition and successfully build attractiveness early on, while others surprise and delight customers by extending promotions beyond the shopping weekend.
this Oberlow Team I think the latter strategy can be very effective:
“Do this at the last minute or when your competitor ends the sale. When the customer sees you are the only one [one] Provide them with a second opportunity to save, and they are more likely to buy your brand. However, make sure to associate the deadline with the extension. [This will create] A sense of urgency. “
That being said, don’t feel pressured to catch up with the trend of Black Friday because of your competitors.
