Black Friday and Cyber Monday are two of the biggest shopping days of the year in Canada and US, and they can bring significant amounts of customers to your store. According to the 2017 Q4 Moneris Metrics report, Black Friday even outsold Boxing Day last year, with more than 45 per cent higher spend volumes.
To help small businesses exceed their targets on one of the busiest shopping weekends of the year, we’ve put together a list of some thought starters on how you can prepare!
Offer a Doorbuster Deal
There’s a reason why so many major retailers use doorbuster deals to bring in Black Friday and Cyber Monday shoppers – because they work! Doorbuster strategies can help draw customers in to buy the item on sale, and encourage customers to browse the other products you offer.
Consider what the best doorbuster deal would be for your business. Maybe it’s your bestselling item, or maybe it’s an overstocked item that you’re trying to clear out. If the product has potential add-ons or accessories, think of an interesting way to ensure your customers purchase both items for a higher transaction amount at checkout.
Promote Your Offers Early
It’s not a secret that customers research deals before heading out to do their shopping on Black Friday, or before turning on their computer in the early hours of Cyber Monday.
Make sure that you promote your business early to get on those Black Friday/Cyber Monday shopping lists. You could add on to existing marketing campaigns you already have, such as your weekly flyer or email campaigns, or get creative something new like social media promotion. For Cyber Monday specifically, your promotions will likely have big impact when they’re front and centre on your website for an easy click-through to purchase.
Prepare Your Website For the Rush
With so much shopping and sales research done online, it’s important that your website is just as ready for the rush as your retail store. There are two main areas of your website that you should consider looking into before the shopping rush:
1. Your website’s bandwidth capacity. It’s important to know that your website is able to handle a large volume of visitors at one time, without slowing down or crashing. Talk to the development team who helped build and maintain your site, or your hosting/solution provider.
2. Your payment processor’s bandwidth capacity. Similar to your websites hosting abilities, it’s important that your payment solution can handle a large volume of transactions at once, whether it is a hosted pay page or API.
Have a Contingency Plan
What happens if you run out of a popular product on Black Friday? Or your shipping company is unable to accommodate the shipment of every Cyber Monday purchase the next day?
Instead of losing sleep over the what-ifs, have a contingency plan prepared for some of the potential bumps in the road you could run into. Think back to last year’s Black Friday & Cyber Monday weekend, and if there were any scenarios that you could have been more prepared for. Look into hiccups by other retailers that may have made the headlines as well. By doing so, you not only more prepare for the shopping rush, but for any potential hiccups that can happen any day.
Offer a Simplified Payment Experience On and Offline
Black Friday shoppers are normally in a rush, and you don’t want to inadvertently have them choose between waiting in line at your store, and getting a head start on another sale. By eliminating any difficulties in your checkout and payment process, you’ll be able to offer a simplified payment experience that keeps customers happy.
For your in-store customers, consider adding more payment terminals to process more payments at a single time, or set up line busting stations around the store to pull customers out of line to make purchases. For your online customers, make sure your online payment solution is integrated correctly, and fully up-to-date.
Interested in learning more about getting your business ready for the busy season? Make sure to look at our Tips and Tricks to Prepare for the Holiday Rush!
The information in this article is provided solely for informational purposes and is not intended to be legal, business or other professional advice or an endorsement of any of the websites or services listed.