Smart Buying Strategy For Business Owners During Black Friday Weekend
The pumpkins have imploded, my pj’s are permanent attire, and the house is filled with the aroma of a festive candle…. it must be nearing Black Friday weekend.
Here’s how you can make the most of the opportunities dangled in front of you over the next few days.
Prep Work - Things to do before Black Friday weekend (25th November)
#1 How do you usually decide whether you want to buy things or not?
You’ve made plenty of buying decisions in the past. How do you make them? Write down the process if it helps? Is it a logical analysis or an instinctive feeling? The discounts and countdown timers may disconnect you from your usual (successful) decision-making process, so you’ll need to deliberately reactivate that.
#2 What deals are you hoping will come up?
This could be things you’re spending money on already, and are looking to upgrade, or switch to an annual subscription. Or it might be things you’ve been on the fence about buying, and this is the opportunity to decide.
#3 Could you have a small ‘take a punt’ fund?
I use this for things I’ve been curious about or want to try out, or sometimes it’s something brand new that catches my eye during the BF weekend. Before the frenzy begins I decide what my small budget will be and I am fully prepared for that money to be ‘wasted’ - taking a punt is for fun, not investment, and I’m careful not to confuse the two.
During The Frenzy
#4 Notice what other businesses are doing, and how that makes you feel?
Deep discounts, small discounts, extended payment plans, bundles bonuses, countdown timers, re-targeted emails, relentless Facebook Lives. You will be witness to a HUGE array of persuasion tactics, which has the potential to be hugely beneficial to you. Notice how you react to what you see. How does it make you feel as a customer? How would it feel to do this as the seller? We aren’t sitting in judgment or copying. We’re tuning into your personal persuasion boundaries. You could learn a lot about yourself, your preferred way of marketing, and generate ideas not just for future Black Fridays, but for promotions and evergreen selling too.
#5 Due diligence
I always do a quick Google for reviews and a search on Facebook on the product/seller before I buy.
#6 Beware recurring fees
For example, the Siteground Hosting deal for Black Friday is usually a whopping 70% off - but the next year you renew at full price - which is a painful jump. For me, it was still worth it as they have saved my bacon multiple times - but look out for future expenses like this.
#7 Organise and use
It’s only a bargain if you do something with it. Keep a list of your purchases and schedule time in your diary to explore and make use of them (Twixtmas is when I do this).