Once again, a year has passed and Black Friday Cyber Monday (BFCM) is upon us and it is a great opportunity for both brick and mortars as well as e-commerce stores to capitalize on this festive period of the year.
We posted earlier in the month on how to start preparing for the festive season (if you haven’t read it, then you can do so here (https://www.fundrr.co.za/blog/preparing-for-the-festive-season) but now the day is finally here. The overcrowding, high traffic on websites, long queues, pushing and nudging is all part of it, but there are ways to do some last-minute preparations in order for these two big days to go smoother.
The overall goals and targets from a small owners’ perspective for BFCM are quite simple; Increase in sales, Happier customers, Fewer headaches, More potential returning customers.
Now, with these goals and targets in sight, execution is the key. It is easy to put up a poster that says “Black Friday sale” but to have enough stock, market it well, get your staff ready, come in early and make sure the shop is clean and presentable are all the key factors that can force the festive season shoppers to rather come to your shop rather than your neighbours.
Black Friday Cyber Monday Sales
Here are a few tips on how to be well prepared and execute BFCM:
1. Market The Sale For Potential Customers
Research shows that most of the festive season shoppers start doing so before the big day (Black Friday and Cyber Monday). That means they either start walking around the shopping malls weeks in advance or they browse the internet seeking potential products that they looking at purchasing. This gives an advantage to a small business owner to start marketing the sale long before. Even though Black Friday is tomorrow (23rd November 2018) people are still online seeking product offerings now to buy tomorrow, so best thing to do is start marketing the sale to inform the customers of what is going to happen on the day. Maybe even provide some sort of timer until 12:01am to get the excitement up.
2. Make Sure Your Stock is Sufficient and Presentable
During this period, there is going to be an influx of demand from customers with money saved up to spend. Make sure you have enough stock on your shelves (both retail and e-commerce) to supply that demand. Stock generates revenue, if you don’t have enough stock, that means you will lose out on a sale and someone with stock will benefit from it. Go through your annual sales report, see which products sell the most, make sure you stock up on them and they are in good, presentable condition.
3. Ensuring Your Website Can Handle Increased Traffic
Sometimes, on days like these, increased traffic on the website can cause the server to crash or delay in response time which may lead to unsatisfied customers and abandoned carts which is lost sales. You can check your server’s load capacity here www.loadimpact.com
4. Ensure Your Store Can Handle Increased Traffic
If you are a retailer (brick and mortar) then you must make sure that your store is in good condition, you have more than one supplier supplying you with produce to decrease the concentration risk and is stocked properly in the front of house. There is nothing worse than selling out faster than you intended on and losing out on potential future revenue.
Last year, festive season sales exceeded the R51bn mark and speculators predict a surge in that number for 2018. These are the two days in which customers are coming to you, so make sure you capitalise on that. This is once a year, so make sure to make it count.