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How to Improve Your Business's Black Friday Efforts Next Year
November 25, 2017
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How to Improve Your Business's Black Friday Efforts Next Year

Black Friday has come and gone once again! After you recover from the hectic shopping holiday, we encourage you to reflect on your small business’s efforts, and consider how you can improve upon them for Black Friday 2018. In this post, we’ll explain various ways that you can elevate your business’s Black Friday sales next year.

Black Friday Tips for Small Business Owners

Hire more staff members

Were you understaffed this Black Friday? If so, you should hire additional employees next year. Being understaffed can lead to unsatisfied customers, less sales and an overall hectic environment. Even if you want to save money, staffing shouldn’t be an area that you cut costs on. Hiring even a few more seasonal employees can make a huge difference during the Black Friday rush.

Stock up on certain types of inventory

To make your job easier, you should conduct an audit of which items were bestsellers on Black Friday. That way, when you place orders next year, you’ll have an idea of which type of items were previously of interest. Knowing what resonates with your audience is imperative if you want to make the most of this shopping holiday!

Expand your business hours

As you probably know, Black Friday shoppers are dedicated! They are willing to wake up as early as possible if it means scoring a sweet deal. So, if you noticed that nearby stores or competitors opened their doors earlier than you did, you should consider opening earlier next year too. This does require requires more planning, as you’ll need to have extra staff to handle this rush, and you might need to purchase more inventory. But if there is the shopping demand exists, expanding your holiday business hours could be a worthwhile plan.

Have a back-up plan for technology failures

If you have an eCommerce store, or offer customer service through a certain software or portal, you know that technology can be imperative to the success of your Black Friday efforts. So, if you or your customers experienced setbacks due to technology glitches, it is important that you have a back-up plan for next year. Although technology can make your job easier and can make shopping quicker for your customers, it can also be unreliable. By devising a plan B, you’ll avoid any major issues caused by technology malfunctions!

Market your sales earlier

When it comes to Black Friday marketing campaigns, the earlier you start promoting them, the better. This gives you more opportunities to catch patrons’ attention. If you were scrambling to advertise your business’s Black Friday markdowns this year, make a note of it. You could start planning your campaign in September, so that your business is ready to promote special sales earlier than the previous season.

Consider your most common complaints

Did you receive recurring feedback from your customers on Black Friday? Perhaps your checkout lines were slow, or customers were confused about pricing. Whatever the issues were, you should address them and determine how to avoid them next year. Meet with your team and find out what the most common problems were, and you’ll be able to trouble-shoot for a more successful day next year.

Examine what your competitors did

If one of your competitors clearly outsold you on Black Friday – take notes! Whether it was their creative marketing campaigns or sales strategies, you should contemplate how you can integrate similar ideas into your business’s plans for next year.

Focus on Small Business Saturday instead

Although Black Friday can provide an influx of sales, Small Business Saturday might lead to better opportunities for your business.

Small Business Saturday is a day dedicated to encouraging patrons to shop at small businesses nationwide. If you felt like your business was overshadowed on Black Friday by department stores and big-name brands, you might benefit from focusing on Small Business Saturday instead.

Now that Black Friday is over, it is never too early to start brainstorming plans for next year. If you are serious about making Black Friday a lucrative opportunity for your business, make sure to follow the tips mentioned in this post!

Fora Financial

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

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Fora Financial is a working capital provider to small business owners nationwide. In addition, the Fora Financial team provides educational information to the small business community through their blog, which covers topics such as business financing, marketing, technology, and much more. If you’d like to see a topic covered on the Fora Financial blog, or want to submit a guest post, please email us at [email protected].
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