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Black Friday Sales

Should Your Business Have a Black Friday Sale?

business goals product-based business seasonal service-based business Oct 22, 2024

Black Friday and Cyber Monday are huge opportunities for many businesses, but is it the right fit for yours? Deciding to participate in these sales events isn’t just about slashing prices—it’s about aligning with your business goals, your values, and your community. Let’s explore what you should think about before jumping into the Black Friday frenzy.

 

For product-based businesses, Black Friday can seem like an obvious choice. Deep discounts can move a lot of inventory and attract new customers. But there are downsides, too. You need to make sure your profit margins can handle the cuts, and consider whether you’re just attracting one time bargain hunters or building lasting customer relationships.

For service-based businesses, the decision isn’t as straightforward. Offering discounts on services can sometimes devalue what you offer or overwhelm your team with short-term demand. Services don’t have the same inventory pressures, so it’s important to ask yourself: Will a sale help you build stronger relationships, or will it create extra work without long-term benefits?

 

At Curated Utah, we’re all about connection and community and how that directly impacts your business and bottom line. So when you’re considering a Black Friday sale, think about how it will impact your relationships with your customers. Instead of just chasing new clients, consider rewarding your current community. An exclusive offer for loyal customers, like early access to your sale or a special bonus, can deepen trust and appreciation.

 

You don’t have to create complicated offers with tons of fine print. Keep it easy by offering simple deals that are clear and straightforward. For product-based businesses, this could be one great deal on a best-selling item. For service-based businesses, it might be a bundled package that adds value without drastically cutting prices.

Being adaptable is also key. Don’t feel like you have to do what everyone else is doing. If your business is smaller or your team is stretched thin, create a promotion that you can easily manage without stressing out. This could mean offering a limited-time bonus for bookings or a simple discount on services you can fulfill without overloading yourself. 

 

DID YOU KNOW? We have a free Facebook community where you can promote your offers, engage with other business owners, and learn more about marketing and business! It's called Confident Content Creators and you can CLICK HERE to join.

 

Black Friday doesn’t have to be all about stress and pressure. Why not make it fun? Add a playful element to your promotion, like a social media contest or a giveaway. You can keep it light and engaging while still offering value to your customers.

For service-based businesses, this could mean hosting a live event or a challenge that your community can get excited about. Think beyond discounts—focus on experiences that connect people and create excitement. The goal is to make your Black Friday event something that’s enjoyable for both your team and your customers.

 

So is Black Friday Right for You?

Ultimately, the decision comes down to whether it aligns with your business values and goals. Ask yourself these questions:

  • Will this help me connect with my community?
  • Can I keep the promotion simple and easy to manage?
  • Will this sale bring in new customers, or does it focus on rewarding the ones I already have?
  • Can I make it fun for my team and customers?

If the answer is yes, then Black Friday can be a great opportunity for your business. If not, there are plenty of other ways to engage your community and grow your business without jumping on the discount bandwagon.

 

Black Friday can be an exciting opportunity, but it’s not one-size-fits-all. Whether you’re a product-based or service-based business, think about how you can align your promotions with your business's values. If you can design a sale that fits your brand and benefits your community, go for it! If not, don’t be afraid to skip it or try something different.

 

Still struggling to decide if a Black Friday sale is right for you? Our Marketing Hive is here to support you. This is the most supportive marketing mastermind! The Marketing Hive is THE go-to community for busy CEOs, solopreneurs, and small business owners who want to simplify their marketing and attract clients with ease. For more information or to join the mastermind, CLICK HERE.

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