Black Friday: What You Need To Know
At this point, your Black Friday plans should be in place and your advertising airing. If you found yourself skipping Black Friday this year because you were unsure of what exactly to do, here is some information to keep in mind for next year.
The Offer: Not sure of what offer to use? At the end of the day it depends on the consumers in your area because not all markets are the same. A lot of retailers have found success with a free gift with purchase, but that doesn’t seem to move the needle with others. Some have found promoting heavy discounts or enter-to-wins work better. Go back through the history of any sales or promotions that you’ve done for the last few years and see what offers have been most successful for you.
Promoting It: If you don’t promote it, people won’t come. We have heard many retailers over the years bemoan their lack of success on Black Friday, only to have them say that they didn’t do any advertising. You cannot just put up in-store signage. Consumers have a lot of options and limited time. They will not be wandering in your store hoping to find a deal. The exception to this is those of you who are located within areas with heavy foot traffic. Even then, though, you need to have outside signage to get consumers’ attention.
Media to Consider: Determine your budget for promoting your offer, and choose your exposure on what will give you the best bang for your buck.
Broadcast (Radio & TV): Keep in mind there are a ton of Black Friday offers out there. Only use broadcast to promote if a: Your offer is truly worthwhile, and B: If you have the dollars to give you a good frequency of message. The schedule will not be worth it if you cannot cut through the clutter!
Print. Yes, I said print. As Fruchtman Marketing has stated time and time again, print is not a dead medium, it just needs to be utilized correctly. If your offer is not bridal based, then think about using your local newspaper to push the message. As long as you are not trying to put a schedule together last minute, you can probably secure a premium placement on the front page (such as a bottom banner position or top corner peel) to ensure all readers will see your offer.
Digital/Social. This is a great place to promote Black Friday because consumers research what offers are available. Don’t do a blanket digital campaign targeting everyone in the area, though. If your offer is based on a minimum purchase, determine who the target consumer will be. For example, if you’re giving away a free product with a purchase of $2,500 or more, the majority of consumers making a household income of $75,000 are not going to be able to afford this price tag. Ensure your schedule targets area consumers who will have the discretionary income to make the purchase.
Existing Customers. Obviously, a familiarity exists with these consumers and your brand. Use that familiarity to encourage them to come back.
Your website! Always, Always, ALWAYS make the offer front and center on your homepage.
When it comes to promotions, Black Friday isn’t truly any different from any other holiday. Come up with the idea, make a plan, execute it well, and reap the rewards. Contact suits@fruchtman.com if you need any further advice or assistance.
