5 Black Friday Deal Ideas for Your Small Business
Black Friday is the busiest shopping day of the year.
Whether they’re stocking up on gifts for the holiday season, or finally committing to a large purchase that they’ve been waiting all year to make, people are ready to drop some serious cash.
And customers can’t resist a good deal, so make the most of this opportunity.
Try these five Black Friday deal ideas to reward loyal customers and attract new ones — you’ll increase profits and boost your business.
Deals by the Hour
Successful sales have a sense of urgency (“free shipping ends at midnight!”).
Use this to your advantage. Try offering a different discount during different times throughout the day — buy-one-get-one 50 percent off from 6-9 p.m., or 70 percent off your total purchase from 2-3 p.m. You might consider a different deal for every hour — or every day, if you decide to extend your deals through Small Business Saturday and Cyber Monday.
This is also a great way to introduce doorbusters and “mystery deals.” Discount overstocked or hard-to-move items to streamline your inventory.
But remember that buyers wait all year for these Black Friday deals, so track sales history, and maybe offer a deal or two on your customers’ favorite products. At this time of year, the bigger, the better.
Have you ever had a hard time deciding what to buy for your best friend, quirky aunt, or favorite co-worker? Chances are, your customers have, too.
Create different gift guides to suit these different needs. Try a bundle of school supplies for teachers, or a list of the year’s bestsellers for book-lovers. If a customer purchases two or more items from one of these collections, offer a discount — 20 percent off two items, or 40 percent off three items.
Not only are you making a savvy business decision, you’re creating a personalized shopping experience for your customers, without a heavy lift — especially when you have a point of sale (POS) system that includes a mix and match pricing feature.
And because you decide which items to include, you can use this opportunity to push otherwise hard-to-move products.
Free Gift with Purchase
Customers love everything free, which makes including a free gift with purchase an excellent sales tactic.
Businesses often offer a free product when buyers hit a certain threshold. An office supply store might include an electric stapler with a $50 dollar purchase; a liquor store could tack on a set of wine glasses when a buyer spends $75.
This is a great way to move low-cost and slow-moving items, while encouraging your customers to spend more money. But make sure the gift is enticing — something they’ll be willing to spend a bit more cash to receive.
And if they were planning on taking advantage of different deals at different stores, they might choose to do all their shopping with your business instead — just to get that little something extra.
Exclusive Deals for Loyal Customers
A happy customer is a return customer, and a return customer is a happy customer — especially if you reward them with exclusive deals.
Thank them with unique discounts sent directly to their inbox, early bird access to popular items, or extra rewards points on their accounts. When you have a solid loyalty program, you can easily boost profits — and when it’s integrated into your POS software, it’s a no-brainer.
Exclusive deals are the perfect way to thank customers that have supported your business for some time, but you can also attract and gain new customers. Many buyers will quickly sign up for a rewards program if it means a deep initial discount, and the opportunity for more savings down the road. And when you have their contact information, you can use smart marketing strategies to draw them back throughout the year.
Buy Now, Save Later
Black Friday happens only once a year — but you need your customers coming back all year long.
Take advantage of this increase in online and in-store traffic to include additional deals that will serve your customers during the rest of the holiday season — after all, it’s the busiest and most profitable time for retailers.
Bring in buyers with attractive deals on the day — but also promotions that will get them to return to your store in the future. For example, if a customer spends $150, give them a $50 coupon to use in a month or two. Or discount gift cards — sell a $50 gift card for $40.
Your buyers won’t miss an opportunity for solid savings, so expect to see them back in your store throughout the season (and if you provide a great customer experience, even beyond).
How to Use These Black Friday Deal Ideas to Your Advantage
Successful business owners know that smart discounts are one of the easiest ways to increase profits, especially in preparation of the post-holiday lull. Try these Black Friday deal ideas to satisfy your customers, and to keep them coming back long after the gifts are unwrapped.
Ready for more tips on how to prepare your retail store for its busiest season? Check out our Retailers' Guide to Black Friday, Small Business Saturday, and the Holiday Season, and learn how to boost Black Friday sales with our free webinar.
Remember: schedule a demo to learn how our POS solution can help make implementing these deals as easy as possible.