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Why Small Businesses Should Care About Black Friday

Black Friday is the busiest shopping day of the year, and it's not just for big-box stores.

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Black Friday is the busiest shopping day of the year, and it’s not just for big-box stores. As a small business owner, you may be wondering if there’s any point in participating in Black Friday. It’s especially important for small businesses to be prepared as local restaurants and retail businesses can see a surge in customers. For smaller e-commerce businesses, Black Friday is a critical day for driving traffic and sales.

Here are a few things to keep in mind so you can make the most of Black Friday as a small business owner:

Black Friday is a great opportunity to attract new customers

Black Friday is one of the most popular shopping days of the year, and it’s a great opportunity for businesses to attract new customers. Shoppers are looking for deals and discounts on items that they may not have otherwise considered purchasing. This makes it the perfect time for businesses to promote their products and services. In addition, Black Friday is a great opportunity to build relationships with new customers. On this day, shoppers are typically more relaxed and open to chatting with store employees and consultants. This is a valuable chance to connect with potential customers and learn more about their needs and interests. By providing excellent customer service and offering deals and discounts, businesses can take advantage of Black Friday to attract new customers and grow their business.

Small businesses should prepare for Black Friday in advance by creating a plan of action

Any business owner knows that generating revenue is key to success. And while black Friday may seem like a ways away, now is the time to start preparing for the big day. By taking some simple steps in advance, small businesses can make the most of this key shopping holiday and ensure that they are able to take advantage of the increased foot traffic and boost their sales.

  • First, it’s important to create a plan of action or a clear objective, such as increasing website traffic or selling a specific product. What promotions will you offer? How will you advertise? How will you staff your store? Answering these questions in advance will help to ensure a smooth and successful black Friday.
  • Second, it is necessary to promote the sale in advance and make sure that customers are aware of it.
  • Third, it’s important to stock up on inventory. This is especially true if you’re planning on offering big discounts. Nothing would be worse than running out of merchandise on the biggest shopping day of the year!
  • Fourth, don’t forget to take care of your employees. It is helpful to have a staffing plan in place so that the increased demand can be handled smoothly. Black Friday can be a hectic and stressful time, so make sure your staff is well-rested and prepared for the long day ahead.

Black Friday is a great time to stock up on inventory for the winter season

It’s no secret that Black Friday is one of the best times of year to score big savings on everything from electronics to clothing as a consumer. But what many small business owners don’t realize is that while it’s an excellent time to get rid of old inventory, it’s also a perfect time to stock up on new items for the winter season and avoid having to pay high prices for new inventory later on. So, if you’re a retailer who wants to prepare for the winter sales season, getting rid of old inventory and stocking up on new items for the winter season during Black Friday is a great option. Why not make a few bucks and save just as many as a small business owner!

Black Friday is a great time to offer special deals & promote your business online and offline

Offering special deals and promotions is the name of the game to draw in customers on Black Friday. When it comes to crafting attractive deals, think about what type of discount would be most appealing to your target customer base. For example, if you’re a clothing retailer, you might offer a percentage off all purchases or buy-one-get-one-free deals on specific items. If you’re a restaurant owner, you might offer special Black Friday-only menu items at discounted prices. Regardless of what type of business you have, there’s sure to be a deal that will appeal to your customers.

Once you’ve decided on the details of your deals and promotions, it’s time to start advertising them. If you have a brick-and-mortar store, be sure to put up signs in strategic locations around your store so that customers are aware of your specials as soon as they walk in. You should also promote your deals on your website and social media channels. Make sure to use eye-catching visuals and descriptive language so that potential customers are enticed to take advantage of your offers.

In addition to promoting your specials and deals ahead of time, there are a few other things you can do to make sure your business makes the most of Black Friday:

  • Team up with other local businesses to cross-promote each other’s deals; this is a great way to draw attention to your business while also supporting other small businesses in your community
  • Use social media platforms like Facebook and Instagram to reach potential customers; create eye-catching posts and use relevant hashtags so that people can find your promotions easily
  • Partner with influencers in your industry; these people have built up followings of loyal fans who are interested in hearing about new products and services, so this is an excellent way to reach a wider audience with your message

Black Friday should be used as an opportunity to improve customer service

For many businesses, Black Friday is a make or break day in terms of meeting their sales goals. With so much on the line, it is easy to understand why some business owners and managers get caught up in the frenzy and forget about the most important part of their business: the customer. This year, take a step back and use Black Friday as an opportunity to improve customer service.

There are a number of customer service apps and software programs that can help you keep track of customer requests and inquiries. By using these tools, you can ensure that each customer feels heard and that their concerns are addressed in a timely manner.

Your employees are the face of your business. Make sure they are properly trained on how to handle customer interactions, both in person and over the phone. This will help reduce stress levels for both your employees and your customers.

Everyone loves a good deal so use Black Friday as an opportunity to offer incentives to your customers for their loyalty. This could be in the form of discounts, free shipping, or even just an extra percentage off their purchase. Whatever you choose, make sure it is something that will truly show your appreciation for their business.

Black Friday is the perfect time to launch new products or services

Black Friday is the perfect time to launch that new product or service you’ve been working on. With increased exposure and competition, not to mention the added sense of urgency created by FOMO, Black Friday is the ideal time to get your product or service in front of as many people as possible.

With people out shopping and looking for deals, your chances of getting your product or service in front of potential customers is at its highest. If you can get them to try it on Black Friday, there’s a good chance they’ll come back for more later.

Capitalize on FOMO. The fear of missing out can make even the most disciplined of shoppers feel anxious if it’s a product or service the covet. Big box stores use it, why not you? When people see that something is selling out or that there’s a limited supply, they’re more likely to buy it before it’s gone. Creating a sense of urgency around your product or service will increase the likelihood that people will take action and buy it.

Plus, there’s no better time to launch a new product or service than when everyone else may be trying to move old and stale inventory. With so much noise out there during the holidays, if you can cut through it and get people to pay attention to your product or service that may be similar, but better, you’ve already won half the battle. So go out there and make some noise! Your customers will be glad you did.

Conclusion

Black Friday is a great opportunity for small businesses to draw in new customers and boost sales. Apply the tips we’ve discussed in order to make the most of this shopping holiday. Remember businesses need to plan ahead. By stocking up on inventory, offering discounts and special deals, promoting your business online and offline, and providing excellent customer service, you can set your small business up for success on Black Friday.

‍Need working capital to get ready for a busy holiday shopping season? If you’re a small business owner who needs up to $500,000 in working capital to purchase inventory, hire seasonal staff or invest in marketing, Fundomate’s small business funding program or our new interest-free program may be the solution for you. Unlike other traditional forms of loans and financing, Fundomate’s working capital product for small businesses does not impact your credit score, require a personal guarantee, or set restrictions on how or what you can use your funds for.

‍Plus, the process is not only quick and easy but offers attractive advantages:

  • get funded within one business day
  • no restrictions on how you use the funds
  • generous eligibility requirements including a minimum of $10,000 monthly gross revenue, 12 months or more of business history and a low minimum credit score of 600 and above

Contact us today to see how we can help you get ready for the biggest shopping day of the year with up to $500,000 in working capital or up to $20,000 in interest free small business funding.