TO offer or NOT to Offer a Black Friday Sale...That is the question!Nov 12, 2023
Should You Offer a Black Friday Sale?
Black Friday is a buzzword in the business world, especially for online entrepreneurs. The allure of boosted sales and a bustling customer base is tempting. But the question remains: Should you offer a Black Friday sale?
The Pros of Jumping on the Black Friday Bandwagon
- Increased Sales: The obvious benefit is the potential for a significant sales boost.
- New Customer Acquisition: A well-crafted offer can attract new customers who may stick around for your other products or services.
- Inventory Clearance: If you have a course with a live component you might be retiring soon, Black Friday can be a good time to move it into 100% self-study.
The Cons of Offering a Black Friday Sale
- Brand Dilution: Discounting your signature offer can cheapen your brand.
- Customer Expectation: Once you offer a discount, customers might always wait for sales, affecting your regular pricing strategy.
- Operational Stress: Handling the increased volume of sales, showing up live (if you offer that support) and customer service can be taxing.
To Offer or Not to Offer?
The decision to offer a Black Friday sale should align with your business goals, capacity, and brand strategy. Here are some considerations:
- Energy Capacity: Do you have the bandwidth to manage launch and delivering?
- Business Focus: Will a sale divert essential resources from your core business objectives?
- Current Offers: Do you have an offer that genuinely benefits from a Black Friday promotion?
It's Okay to Opt Out
If you decide that a Black Friday sale isn't for you, that's perfectly fine. Remember, your business, your rules. Black Friday is just one day in a year full of opportunities.
Whether you decide to offer a Black Friday sale or not, the most important thing is to make a decision that aligns with your business goals and capacity. If you're on the fence, consider scheduling a consultation with me to weigh your options.
But if you do…
A Practical Guide
From creating bundle offers to setting up special payment plans, implementing these strategies can seem overwhelming. But remember, the key to a successful Black Friday is preparation and execution.
Once you've implemented your strategies, you'll want to measure their effectiveness. Key performance indicators like conversion rates and customer engagement are crucial. But what if you're not sure how to track these metrics?
Key Performance Indicators
Understanding your KPIs like conversion rates and customer engagement is crucial. But if you're new to this, it can be a daunting task.
The Final Countdown
With Black Friday just around the corner, now is the time to finalize your strategies. But what if you're not sure how to go about it?
If you're feeling stuck or overwhelmed, I'm here to help. Let's schedule a consultation call to discuss your Black Friday strategy and how to measure its success. Click here to book a 90-Minute Black Friday Strategy Call and let's make this Black Friday a win for your brand.
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