Owning a small business can be rewarding but when it comes to events like Black Friday, you may feel like your company is not sizeable enough to compete against ecommerce giants. While this may be daunting, there are many ways SMEs can embrace Black Friday and take part in one of the biggest online shopping days of the year.
With the potential to bolster sales and bring in new customers, Black Friday can be beneficial, even for small businesses. Although it may now be just a couple of days away, here are some last-minute tips you can utilise to prepare your SME for this big retail event.
Select Your Courier
Delivery is becoming more important to customers, who with so much choice, are demanding faster, more efficient and cheaper services. This means getting it right is essential for small businesses, in order to build a good reputation and secure loyal customers.
When planning for Black Friday, you may be expecting your volume of shipments to increase. As such, consider using a reliable, professional and trustworthy delivery company, with the expertise and facilities to handle your shipping needs.
Analyse Your Figures
While offering good discounts and promotions is essential for Black Friday, these must also be affordable for small businesses. To assess the kinds of savings you can realistically offer shoppers, it is important to do your sums.
From offering a flat-rate saving across all stock, to reducing certain items, knowing your bottom line and ensuring you can still make a profit is crucial.
Although your small business is unlikely to receive the same number of orders as large multi-national companies, you may handle a much larger volume of sales than normal. Therefore, preparing your inventory and checking stock levels is essential.
While you should avoid over ordering, you also want to make sure you have enough products. As such, attempt to strike the balance by consider any last-minute stock orders you may need to place.
Offer Staff Overtime
You can offer great discounts, but you will have unhappy customers if you are short on staff. After all, you need employees to pick and pack orders, as well as answer queries whether by phone or email.
To prepare for Black Friday, take a look at the rota. While it is advisable to avoid overspending on wages, make sure you have adequate staffing levels.
Try Online Marketing
Lastly, there is little point in doing all this work if you do not tell your customers. This is where online marketing can help, allowing you to promote your Black Friday deals with ease.
From adding a banner or Black Friday category page to your website, sending out discounts to existing customers via email, to advertising on social media, make sure you spread the word online.
Black Friday can be a fantastic time for small businesses, providing you are prepared. Follow these last-minute tips to get ready for this big annual sales event.