Benefits of Having a Black Friday or Cyber Monday Sale
Shopping enthusiasts from all over the world wait for days like Black Friday and Cyber Monday to satisfy their shopping cravings. There’s a lot of contagious enthusiasm between the shoppers and it is all fun and games until you look at it from a marketer’s point of view.
A marketer, potentially a website owner has to make sure to score great benefits out of these sale days. On an average Black Friday or Cyber Monday weekend, the top digital businesses aim to make an amount equal to what they’ve made in a whole year. That’s how far the marketing scope of one of these can go.
When we’re looking from the marketing perspective, there can be various benefits of having a Black Friday or a Cyber Monday Sale. Similarly, having a Black Friday or a Cyber Monday sale also has its cons and drawbacks.
Let’s try to look at the benefits and drawbacks of having a Black Friday or Cyber Monday sale separately.
What Are Some Benefits of Having a Black Friday/Cyber Monday Sale?
There are a bunch of ways you can use a sales day to your advantage. Following are the six primary benefits of having a Black Friday or Cyber Monday Sale:
Making The Most Out Of Contagious Enthusiasm
You can either loathe it or absolutely love it as the shopping enthusiasts do. A day like Cyber Monday or Black Friday gets people spending and there’s an instilled sense of urgency. As a business owner and a marketing campaign manager, you can use all this enthusiasm to your benefit. You can be creative and devise extravagant techniques to maximize your profits in these days.
You can use your digital platform to appeal to people who like to fancy themselves in the days leading up to holidays. Or maybe you can make the most out of people who’re looking to get their hands on fancy Christmas gifts in advance.
Establishing Yourself As a Critical Alternative
A Black Friday or a Cyber Monday sale can make or break your business. If you are carelessly spending thousands of dollars on marketing campaigns and don’t receive the desired results, it’ll probably be brutal. But, if you’re spending in the right areas and at the end if you’re able to score high ROI, increased SERPs, and great revenues – you’ll end up establishing yourself.
There are multiple brands and digital businesses operating in the market, which are your potential competitors. When you’re able to succeed at an event like Black Friday or Cyber Monday, you’re potentially establishing yourself as an alternative to your competitors.
Becoming a Viable Alternative on the Big Day
On the big sales day like Cyber Monday and Black Friday, customers are thrilled with high-octane energy. Most of them have money and they’re looking to buy some products. These days, it’s most likely that customers will even spend money on unknown retailers. This is a chance for new digital business owners to slide in with their exclusive services and products.
If you’re a business owner with a potential platform and trying to make a mark, this is the time for you to slide in with your product. Who knows, maybe people will end up buying from you and you’ll be the alternate replacement for the big day.
Getting Rid of Old Stock
A cool side benefit of having a Sale day is that you can clear off your old stock. Maybe there’s some stuff remaining from last year’s summer collection or maybe your winter collection wasn’t properly sold off – a Black Friday or Cyber Monday might be your chance.
Moreover, if you’ve got surplus products from some previous seasons or perhaps you need to make some space in your warehouse, these days give you an excellent opportunity to run great campaigns on these products, allowing you to get rid of your old stock.
Mock Sale Day For a Better Sale Day Next Year
If you’ve recently started running your business and learning the ins and outs of the complete e-commerce community, it might be a good idea for you to have a Cyber Monday/Black Friday sale. This will allow you to become familiar with the norms and how campaigns proceed during these times.
By using this to your advantage and participating in a sale, you might not succeed right away but you’ll learn. You’ll make mistakes, you’ll observe your competitors and you’ll learn from them. As a result, you’ll have a better grip over the campaign for next year and chances are, you’ll be generating higher revenues in the next Black Friday or Cyber Monday sale!
Make More Money in One Day Than You’ve Made Whole Year
Back in 2005, Cyber Monday had recorded sales of $6 million by over 65 million customers. A sale day like Cyber Monday has the potential to make your business more money than you’ve made all year. That’s why these days are so important to online digital businesses.
Similarly, a Black Friday sale is just as beneficial and in some locations, Black Friday has outperformed Cyber Monday.
Here are some cons of having a Black Friday/Cyber Monday Sale for Marketers:
If You’re Not Ready to Compete Yet
Let’s be real, we can’t ignore the possibility of a business not having the clout to compete with other retailers just yet. Although you can still participate if you’re planning to learn from it. But, if you are lacking the determination, not succeeding may have a direct negative effect on your enthusiasm.
You Don’t Have the Time and Resources For a Campaign
Making a significant benefit from a Black Friday/Cyber Monday sale requires strong campaigns. If you don’t have the resources, you may not able to run your campaigns at all.
If You Can’t Cut Down On Your Prices
Black Friday and Cyber Monday sales are about discounted prices and promos. If you are not yet able to cut down on your prices because you have to maintain that ROI, it might be a struggle.
If You Can’t Afford a Hit
When you are investing in a business, you have to realize that it can be a little risky. What if your campaigns and products don’t click with the audience? You need to have a room for taking a blow, otherwise, you will end up losing a whole lot of determination in addition to investment.
Your Brand Is Too Important To You
If you are always going to come off as a brand that’s too premium to participate in Black Friday or Cyber Monday Sales, you probably won’t be able to sustain the bigger market.