Five tips to maximize Black Friday
It is an indisputable fact that Black Friday plays a major role in many e-tailers' annual turnover. But how can manufacturers and distributors take advantage of the Black Friday phenomenon in a meaningful way? This article offers five tips for how companies selling to retailers can maximize their Black Friday results.
In the B2B world, it is not very common to work with Black Friday from a promotional perspective. But if you’re willing to try, Here are our best tips for success:
Choose a period and apply a campaign. You might offer your retailers a chance to shop your inventory before Black Friday, providing them with lower prices so they can, in turn, sell and promote them on the big day. Or, you can run the campaign on Black Friday so that your retailers can take advantage of higher margins.
Promote products from your warehouse. Offer customers the products that are usually a little hard to sell, and discount them. Products can be combined into packages or bundles, or you can resurface older seasonal products.
Be willing to extend your sale period so that everyone has time to buy. Of course, it can be effective to work with short decision windows toward end consumers, but toward retailers, you don't need to rush purchases—especially when they themselves are dealing with the high sales pressure of Black Friday.
Communicate early, often and effectively. Black Friday is notoriously busy, and emails aren’t always going to be opened the minute they arrive. Give your retailers plenty of warning that you will be running a campaign so they have time to prepare. Once the campaign is running, provide them with reminders. You might even consider investing in account-based marketing tactics to target customers you know would benefit from the products you’re putting on sale.
Make the ordering process easy. Prepare your your web shop and personalized customer portals so that the promotional products cannot be missed. Run with easy-to-understand pricing logic, and make sure that the red prices are clearly visible and calculated directly on the order.
Gung has served as a critical component for many industrial companies that need to capitalize on the opportunity that is Black Friday. To learn more, call for a personalized demo for how you might use our portal to build campaigns that can benefit the entire value chain.
