Black Friday, the annual American shopping holiday, has not only gained traction globally over the years but has also become a hit online! The internet has revolutionized the event, transforming it from a single-day, in-store event into a multi-day online extravaganza. With related events such as Cyber Monday and early “Black Friday” sales tacked on, the holiday shopping season continues to grow in both size and profitability.
As customers prepare for the holiday season, many take advantage of enticing sales and unbeatable deals offered by companies worldwide; for buyers and sellers alike, Black Friday is a win-win. Predictions say transactions between Black Friday and Cyber Monday this year will rake in an estimated $75 billion—5% higher than last year’s count.
While traditionally a consumer-facing practice, Black Friday and Cyber Monday have become increasingly relevant to the B2B sector. Companies are leveraging the hype surrounding these sales periods to offer discounts on services, software, and equipment, making it a strategic opportunity for businesses to save on operational expenses.
Tips for B2B sellers on Black Friday
If you’re a B2B supplier or distributor looking for a successful holiday season, you need to have a solid game plan. Black Friday and Cyber Monday are excellent tools for pulling in new clientele and building a loyal customer base. Here are a few tips to take with you as you strategize:
Offer discounts on your products or services
Tailored deals: Provide discounts on your core offerings, such as software subscriptions, bulk orders, or specialized equipment. Ensure these deals are targeted to meet the needs of your clients.
Bundles: Create sales packages that combine related products or services at a reduced price, making them more appealing to clients looking to maximize value.
Tiered discounts: Encourage larger purchases by offering bigger discounts as order volumes increase.
Run early and extended promotions
Early access sales: Allow existing clients or loyal customers to access your deals before Black Friday. This not only rewards loyalty but also creates a sense of exclusivity!
Post-Cyber Monday deals: Keep the momentum going by extending promotions into the week following Cyber Monday, attracting those who missed the initial rush.
Don’t forget about marketing!
Gather data and insights: Analyze customer behavior during the sales event to refine future marketing and sales strategies. Use your increased traffic to collect feedback, identify pain points, and improve your offerings.
Email campaigns: Notify your subscribed customers of upcoming sales and provide personalized recommendations based on their previous purchases.
Social media advertising: Promote your deals on platforms where your business audience is active, such as LinkedIn.
Convenience & extra services
Seamless checkout: With systems like our 1-step checkout process, reduce cart abandonment rates and bring the transaction process down to a few simple clicks.
Payment plans: Help accommodate the budgets of smaller businesses with flexible payment plans.
Perks: Offer perks such as free shipping, extended warranties, or free training or support sessions to make your deals more attractive.
Collaborate
Team up: Work with other businesses to offer complementary products or services as part of a bundled deal, increasing appeal and exposure for both parties.
Shipping & handling: Make a deal with your shipping provider to enable low-cost shipping to your clients.
By aligning your Black Friday and Cyber Monday strategies with the needs of your business clients, you can maximize sales, build stronger relationships, and set the stage for long-term growth.
