“50% off all home appliances”
“Up to 80% off”
“Extra 30% off on your first order”
Who doesn’t love the sound of discount prices? – The endless trail of customers running into your store, or traffic to your online store… ahhh… feels like Christmas.
Since the adoption of Black Friday in Nigeria, big businesses have taken advantage of this big day with players like Jumia and Konga taking the lead. However, small businesses can still stand out and attract customers.
Here are a few tips for small businesses in Nigeria to take advantage of Black Friday
Develop a Marketing Strategy
Whether your goal is to drive traffic to your stores, grow brand awareness, gain new customers or even grow customer loyalty for your existing customers, the first step to take for your business before Black Friday is to define a goal then devise an awesome marketing strategy around it. Store owners without a sufficient strategy are far less likely to succeed at Black Friday than those who have one. Inadequate planning may ultimately result in bad customer experience.
Plan what products you intend on focusing your discount sales on. It could be discount on all products, on a few limited products or discount on products with high customer demand. You could also put products on sale for a limited time.
Direct customers to where you want more traffic for your business, it could be your physical store, your online store, your social media page or even your app by offering major discounts when they shop from there. You could offer an extra 20% discount when they shop from your physical store, if that’s where you want more traffic.
Make adequate preparation
Don’t just jump into Black Friday sales without an adequate execution method. It may take a lot of your time at first, but sure to save you a whole lot of disappointment later.
If you’re not into the business of perishable goods, shop in bulk months ahead of Black Friday. Look out for stores offering clearance sales, discount sales, or take advantage of coupons. You can also buy directly from the manufacturers at a wholesale price. This way, you can save money and also give your customers sweet discount offers on Black Friday.
Take accurate inventory of your items. There are different apps to help you keep track of your stock. Re-stock immediately you run out of goods and remember to hire extra hands.
Test, test, test your payment method and ensure that your site can handle huge traffic. If you think you should increase your site’s bandwidth, then you must. Customers are sure to abandon your site if its slow or if they not able to access it, especially since there are other sites offering similar discounts. With bad customer experience, there’s no second chance.
Partner with logistics companies near you, making sure that their delivery services is extra reliant, if possible arrange for a plan B. Schedule for a same day delivery with the options of both trucks for large parcels and motorbikes for smaller parcels.
Promote your discount sales
There’s no such thing as being too early and big businesses already know this. They never fail to take advantage of their large followership base to promote discount sales and before you know, hundreds of ads are flying around, making it hard for the small players to keep up. Use different social media channels to promote your Black Friday discount sales, Get close friends and family to also promote your sales and never underestimate the power of bloggers or influencers to help gather a greater reach and traffic to your store.
Optimise your keywords and display ads to target customers in your area searching for similar products and services. If you are new to ads and keyword optimisation, request a plan or consultation to help promote your business.
Play up your small business uniqueness
Think teammate, not competition. It’s tough competing with the big businesses, they have nothing to lose, literally. Instead take advantage of your small business status by partnering with other big businesses. Sign up as a vendor on big online stores in Nigeria like Jumia and Konga. Also look out for fairs taking place around that period and buy stalls to showcase your products. Alternatively, you can join forces with other small business around and organize a black Friday discount party. Who wouldn’t want to attend that?
Let’s face it, big businesses can afford to go as low as 99% off. Okay, 99% is a little too much but you could change the game instead by making more tempting and creative offers. A Forbes article states that “retailers that compete on differentiated products and experiences should be better positioned to outperform those who try to compete on low-price, value and convenience”. Offer a package deal discount, for example, give out products at low discount price, the more related products the customer adds to their carts, the more increase in discount for those items.
Black Friday doesn’t have to end on Black Friday. Send your customers appreciation emails, thank you notes or a thanks for coming gift and ensure to seal your customer relationship with exclusive discounts for Christmas or New year and watch how you gain new customers, customer loyalty and grow brand awareness.
You might be carried away with your Black Friday sales, but don’t forget to also visit other stores and shop for what you need for your office, to make the rest of your sales year better.