Business Lessons Learned From Black Friday – Part 2

Business Lessons Learned From Black Friday – Part 2

In part 1 of this 2 part blog post, we discussed how Thanksgiving Day sales contributed greatly to Black Friday sales. ShopperTrak founder Bill Martin believes that soon, Thanksgiving Day sales could potentially surpass Black Friday sales, especially since more and more stores seem to be opening on the holiday itself rather than waiting until the next day.

Whether you remain open on Thanksgiving Day in the future, or wait until Black Friday to introduce your holiday deals, here are a few marketing lessons learned from Black Friday 2013:

People love discounts. Many stores have found success in offering a doorbuster deal, or significant discount on a single item. This might not be a big ticket item you are selling, but it could be enough to get more traffic in your door.

Call-to-actions work. Set deadlines. Have a definite end point to a campaign, offer, discount, or promotion, and tell all your customers about it. Encourage your customers to take action right away.

Be engaging. Talk to your customers. They may be there ultimately for the deal, but having so many customers in at one time is a prime opportunity to show off your customer service skills and perhaps build customer loyalty.

Overall, the more you can observe about your customers during peak shopping times such as Thanksgiving weekend, the more you will learn for your business. You may be able to gain valuable marketing tips and techniques just by paying attention to consumer insights.

At Newman Crane, we understand the special financial considerations that businesses in various industries have to make. Our specialists will create an Orlando Business Insurance package tailored to the specific needs of your company. Please contact us for more information at (407) 859-3691.