Black Friday is a huge, cultural event. Over the years, it’s gone from a single-day thing to a full week event. It’s bled from Friday and into the weekend, through to cyber Monday, and often filling the whole first week of December. Black Friday is such a huge deal that for many businesses, it is the weekend that determines their financial success for the year! In this episode of the Owning The Edge podcast, we’re going to look at why Black Friday works, and how to make it BETTER.
Now, personally, I’m not a big fan of Black Friday, and I feel like a LOT of us feel the same. At a certain point, it just starts to feel deceitful and pushy. It was one thing when black Friday was only one day, but now that we’re stretching the deals for weeks at a time, it can make it feel like we’re just trying to get as much money from our audience as we freaking can.
At the same time, though, this mechanism STILL WORKS. The extended Black Friday isn’t driving customers away, and in fact, can often lead to even MORE SALES. So how do we take advantage of Black Friday as entrepreneurs without feeling gross about it?
One of the best things I’ve seen from the brands I follow is this strategy: they don’t make their Black Friday deals specifically about the PRICE REDUCTION or the LIMITED TIME value. They make it about the CUSTOMER. That means they focus their efforts on not just promoting a new product or service, but really connecting to us while they do it.
The difference here is huge. When you’re talking to your CUSTOMER, treating them as real people, instead of just slamming a 30% off ticket in front of their face, you’re still focusing on building a relationship with them. You’re not going to feel spammy, pushy, or obnoxious, when you’re saying, “I want to help you make 2021 the greatest year ever,” instead of throwing out emails with “50% OFF BUY NOW” garbage.
Ultimately, there are TWO things that make Black Friday deals work SO well:
Now the price reductions can be a little misleading. You’d be shocked how many times businesses will subtly increase the prices of their products in the months before November only to “slash” those prices back down to their starting points for Black Friday.
But the DEADLINE is real, and it’s critically important.
And you don’t need Black Friday to have a deadline.
One of our favorite methods for creating this limited time offer is called the Four Day Profit Push. The idea is that you give your audience a four day window to buy your product or service at a limited low price. Every day, you send your audience an email – full of personal connection so you’re always building that relationship! – and on the FOURTH day, the price goes up. We have amazing success with this strategy in every brand we’ve touched!