As October is coming to a close, it’s important to realize that Thanksgiving is just a few weeks away – which means that Black Friday and Cyber Monday are almost here! Are you prepared for it?
We all know that Black Friday is the Friday after Thanksgiving, and Cyber Monday is the following Monday. But do you know about the back stories?
The term “Black Friday” was actually first used on September 24, 1869. According to BusinessInsider.com, “…two investors, Jay Gould and Jim Fisk, drove up the price of gold and caused a crash that day. The stock market dropped 20% and foreign trade stopped. Farmers suffered a 50% dip in wheat and corn harvest value.” Then, in the ’50s, Philadelphia police started using the term to recognize the day between Thanksgiving and the Army-Navy football game. Crowds of shoppers and tourists would show up in the city that Friday and the police had to work longer and harder to deal with the crowds and traffic. By the late ’80s, Black Friday became what it is today – more so known for merchants being “in the black” that day with their profits.
As opposed to its older counterpart, Cyber Monday has always been about holiday shopping. Debuting on November 28, 2005, the National Retail Federation felt positive about the effects that the day could have on shopping, particularly for smaller merchants being able to compete with larger chains. The biggest online shopping day in U.S. history was November 30, 2020, bringing in $10.7 billion in online shopping.
So what can you do to make Black Friday and Cyber Monday work for your business? Here are 10 tips to get yourself ready to go for the end of November:
- Determine whether or not you will utilize both days.
- Start early – customers start looking for Christmas deals in October, so get to it now.
- Get creative with ads, social media campaigns, content marketing, and copy.
- Make sure your website is speedy, up-to-date, and optimized for mobile.
- Drop teasers a week or so before Black Friday.
- Apply the best discounts you can afford.
- Remember to cross-sell.
- Have a plan to reconvert customers after the sales are over.
- Prepare for a late shift, as you’ll want to be available for all of your shoppers.
- Capture abandoned carts – an ‘abandoned cart email’ works wonders.
BONUS: Offer freebies to those who spend a certain amount. You’ll want to prepare for this now, and place orders immediately in order to get your items on time. Give us a call or send us an email – email@example.com – for help on getting the best customized promo products for your company. You can also take a look at our website for ideas.
Believe it or not, not everyone opts in to creating Black Friday or Cyber Monday deals. The hustle and bustle – and stress that comes with it – simply aren’t worth it to the company. Some companies even choose to close for both days, giving their employees a breather. (It’s not like the entire month of December will be easy.) You have to decide what will best benefit your company. No matter what you choose to do, hit November head on so that you can get ready for the best December yet.