As customers, it’s pretty obvious that we can’t afford to miss out on such an opportunity, but what about business owners and marketers?
Should small or medium businesses (SMBs) dedicate huge chunks of their resources to go up against the giants of the industry? Or should we wait until the giants have finished slugging it out to win customer’s attention and lost their competitive momentum?
The short answer is yes. Black Friday is worth the risk.
Business is about taking risks, and all risks must be weighed against the potential return or reward. The tricky part is knowing how much of a risk you can afford to take.
Possibly the most important thing I learned from the music industry is that a band that doesn’t play doesn’t exist.
With 86% of adults expected to be shopping online from the US alone, each potentially spending an average $480, we cannot afford not to play. Even if we feel that our product or service is the last thing on the minds of family members shopping for holiday gifts, the potential exposure is incalculable. At the very least, our goal should be to gain awareness, drawing as many users as possible into the top tier of our sales funnels. This way, the next time they come across our now familiar brand, there’s a greater chance that they will follow through the funnel, generating interest and commitment.
This reward is achievable.
Better yet, working with WordPress means that we don’t have to over-commit our resources to accomplish it.
However, we need to bear in mind that the impressions we create during this weekend will influence our businesses over future months, which is why we need to be smart.
Over the last weekend of November, customers and marketers from all over the physical world will face one another upon the field of online commerce. Each armed with strategies based on years of experience, savvy, and intuition.
Standing in the center of the field are search engines like Google, cunningly playing both sides.
To keep online activity churning, search engines consistently satisfy customers with more seemingly accurate search results. Simultaneously, they create the tools and ‘holes’ that marketers use to appear in those results and better reach their target audiences.
Inevitably, customers learn to see through banners, popups, and catchy copy. While many customers have become skilled at finding the best bargains online, marketers are forever trying to play the SEO game and beat Google’s evolving system of algorithms. Each year, both sides try to get the better of one another, raising competitive the ante across the board. One way of looking at this is by seeing it as an ever-growing difficulty. But we choose to see this as an exciting challenge that grows greater by the year.
Black Friday weekend continues to account for 20% of the overall amount spent on holiday shopping.
In an attempt to get ahead of the game, some marketers will change tactics and begin campaigning special offers weeks before Thanksgiving.
However, you might be better off launching a creeping campaign, establishing awareness among customers over the black weekend, using minimum resources, then slowly cranking up the campaign over the coming weeks until the end of the year.
After all, this is the period of time that accounts for the remaining 80% of all holiday spending.