One more year, the moment that both sellers and shopping lovers were waiting for has arrived; Black Friday is here!
This tradition, which started in United States and has been exported to the rest of the world, opens that shopping period that won’t end until Christmas is over. Big department stores, small businesses and even the service industry take advantage of this “holiday” to make some profit. But… what about the great consumption sector, the retail?
Black Friday can also be applied to this sector; we only need to know our options when adapting our discounts. But discounts are not the only option; there are many ways of catching our client’s attention with our promotions. Let’s see three of them!
Customize your discounts
We know we said that discounts are not the only option, but discounts can also be very original and we can turn them into something more attractive than the typical 20% off selected items.
Customizing your discounts is the key; you know your clients, and you probably already segmented them. If, besides that, you use a sales force automation tool (CRM/SFA), you probably own an historic with all the detailed data on every client’s purchases: you know who purchases more, what does he usually buy…
Offer your best clients some personalized promotions on products you know they like, because they purchase them on a regular basis. Is there a client who always tends two buy two particular products? Present them as a special pack for him. They will see that you take their preferences into account and that you care about their business, and that’s a great way of engaging them.
Take advantage of cross-selling
This is a great moment to apply discounts on complementary products you would like to introduce to some of your clients.
Knowing our clients’ cluster we can get to know which products are potentially complementary to their usual order. Once we identify the products we can apply an offer on the whole so it looks attractive to the client. We’re sure he won’t resist trying out the whole pack and including these products in his regular orders after that.
The importance of promotional elements
If there’s a time of the year when it’s important to stand out your visibility in the point of sales, that is Black Friday. Every brand will create new promotional material to increase its visibility, so you can’t fall back.
Come up with a good trade marketing strategy and negotiate with your clients the incorporation of promotional elements in their stores. If you won a tool with augmented reality technology, you will be able to show the client how the material will look before actually setting it up, and you’ll reduce the risk of future conflicts. If you negotiate a discount promotion aligned with the promotional material, success is ensured.
And remember; don’t leave these negotiations to the last minute. As we mentioned, every brand will offer its best promotions, and we need to ensure our visibility in the point of sales.
Achieve success this Black Friday
As you can see, the consumption party par excellence is easily applicable to the retail sector as well; you only need a bit of imagination and some SFA/CRM tool that makes things easier for you.