Black Friday Best Practices for Small Business Owners

With Thanksgiving right around the corner, most small businesses wonder how they can compete against big retailers on Black Friday-Cyber Monday. Fortunately, social media has made advertising affordable and cost-effective, and even mom-and-pop shops are taking advantage of this new resource to break through the clutter and stand out from the competition.
But, in order to have a successful Black Friday-Cyber Monday weekend, there are some best practices you should follow as a small business owner to ensure a successful season.

1.Schedule your staff accordingly

As one of the busiest weekends of the year for retailers, it’s critical that you share with your team the importance of the season approaching. Express the need to be available from Black Friday until the following Tuesday to be able to provide outstanding service to your customers. If there’s anyone in your team who normally would have Fridays and/or Saturdays off, ask whether they would be available these two days.

2.Decide on the promotion/sale

Are you going to run a special sale during these days? Bear in mind that big retailers will also be running one and, most times, it’s difficult to compete against them. However, if you choose to run a special promotion, be sure you inform your team about the changes.
The flux of clients/customers may not be the one you expect and, remember, that customers during these days tend to get in-and-out as quickly as possible from the store.

3.Stock up on inventory

If you choose to run a sale, you will need to stock up on inventory. Plan ahead to see how you’re going to promote the discounted items and sell them, and what you’ll do if you run out of them. Will you offer your clients a voucher? A substitute item?

4.Focus on customer service

As stated above, these two days are some of the most stressful ones for retailers. Customers are known to be ruthless during Black Friday, rushing to find the best deal, and be in-and-out of the store as soon as possible. Keeping this in mind, strive to provide the best possible customer service, even in these circumstances.
Train your staff to be prepared for challenging moments, and remind them that safety is top priority, especially during these busy times. Ensure that no boxes are left on the floor or are too high to reach to avoid any tripping and falling.

5.Update information

Once you have established your goals for the Black Friday-Cyber Monday sale, you’ll need to update the information on the website, social media sites and any other place that’s easily visible to your customers or clients.
Some of the information to consider are the business hours you’ll be keeping during these two days, and what type(s) of discount(s) you’ll be offering for Black Friday-Cyber Monday.
You may also want to consider printing a poster or other form of in-store signage to announce your special sale for the two days.

6.Invest in advertising

Have you ever run a Facebook campaign? Digital marketing is affordable and very targeted. If you’ve always relied on old forms of advertising, this might be a good opportunity to start investing in digital advertising.
Set up a budget for your Black Friday-Cyber Monday sale, and use social networks such as Facebook, Instagram, and Twitter to promote your deals. If you’re new to this, there’s an article that SproutSocial published to help you launch your first campaign.

7.Reward your loyal customers

Black Friday-Cyber Monday may be a good opportunity to bring loyal customers back to your business. Take advantage of the sale and reach out to them via e-mail or text message letting them know the special you’re running during these two days.
Additionally, and while we’ve mentioned above that customers may be a little notorious during this time of the year, take advantage of the season to build new relationships and gain new customers.
Building and establishing your small business takes time and effort, especially during the holiday season or special sales. As a business owner, you have enough to worry about to make sure everything runs smoothly during the Black Friday sale, let us take care of your business insurance so you can focus on what matters most to you. Call one of our friendly agents at 1-800-INFINITY to get a quote for the different business insurance products we offer.

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