How do you find Black Friday & the whole general end of the year insanity, as a small business owner?
As much as you may bag yourself some absolute bargs, it can also be a reeeeally tough time for small businesses.
😭 It’s literally expected that you’ll be giving deals & discounts.
😭 Your competitors are doing it.
😭 The ‘big brands’ in your space may be cutting prices so much that you could not possibly sustain a business at that level.
But, you’ve set fair & reasonable pricing so that you can cover your costs, whilst giving your customers the proper time & attention, whilst also, yanno, being totally crazy and actually MAKING SOME MONEY TO LIVE ON?!?! 🤯💥
There are some really good reasons for getting involved…
- Shifting some old stock, yes, at a lower profit margin, but it’s making way for newness!
- Making new connections.
But if you are one of the literally 1000s of small businesses out there who are feeling crushed by the weight of expectation of Black Friday deals & Christmas sales, and worrying that if you don’t start releasing ridiculous prices, you’ll just get beaten out by competitors, we’re here to help! 🦸♀️
🔒 Lock in prices for purchases now, before an increase in the new year
We hope you’re taking a look at your pricing and making some adjustments in the new year if need be. If you’ll be increasing, why not offer customers that they can ‘lock in’ your current pricing by committing for next year, or by purchasing now, so that they get a ‘good deal’ before your prices increase?
🚤 Exclusivity deals
How many loyalty cards have you got? Considering that all next to each other in my purse are Starbucks, Nero, Costa & Coffee 1, I guess my ‘loyalty’ is pretty flighty … and it is the same for consumers on Black Friday! We will ALL jump ship if we find a ‘better deal’ somewhere else! So, create some exclusivity to what you can offer, and encourage some loyalty! Can you do an offer only for existing clients, to thank them for their custom? What about an exclusive code only found in your email to your mailing list?
😱 Create scarcity
What if you really want to get involved, but just cannot discount too many products or services? Why not create a limited number of offers? ”The first 10 people to reply to this story will receive. discount code”. This way, you can offer something, you are very likely to make those 10 sales, and we all know that the psychology behind scarcity means that people are MORE LIKELY to buy, knowing that there is only a limited number available.
➕ Bonus deals & add-ons
Instead of discounting what already priced up, do you have something you can add on as a BONUS for those who make purchases? For example, we’ve got loads of downloadable resources (here’s one for you 😉), which we’ve already spent the time & money creating, so, giving it out as an extra is not going to make a big hit on our bottom line.
💞 Spreading the love
Honestly, the reason we all have certain small businesses or brands that we love? The PEOPLE behind them. Black Friday should not be an all out gladiatorial battle, where business owners climb all over others, just to reach the prize of a (very small!) sale. If discounts are not something you can offer, why not support someone who is? Do you have any small biz friends who you could promote a lil bit on your socials? And you may be surprised; showing a genuine, kind human behind your business can make a huge impact on people wanting to buy from you – even at full price.
If any of this has been helpful, please do let us know! Or try out tip number 5 and spread the love ☺️ tell someone else that it’s worth getting on our mailing list!
