Episode 56: How to Run a Black Friday Special that Works
What you will learn from this episode:
- Find out the pros and cons of running a promotion on Black Friday to help you decide if the money to be earned is indeed worth it
- Learn how to stand out from the rest and create genuine excitement and frenzy over your promotional offer
- Find about promotional ideas that build consumers' loyalty to the product rather than to discounts
- Discover about a promotional offer that increases a product's perceived value
- Find out how to make a WIN offer to clients that they can't resist
- Find out about a mini-workshop that gives you three strategies that are going to boost your overall revenue without a discount at www.aprilmeese.com/BF
Summary:
Black Friday or Cyber Monday is just around the corner. Statistics point out that people spend more at this time of the year because they are already preconditioned to spend more. It is just a matter of standing out with your offer and grabbing their undivided attention.
As the holiday promo frenzy is getting nearer, it is best to weigh the pros and cons of offering promotions. The opportunity to earn more is the main reason and it builds brand awareness for sure. There's a big chance to hit your goals that you could not do at the start of the year and months earlier. Besides, it gives you a continuous plan on what to do over again if something works. At the same time, you must ask yourself, are you up for the big task at hand? Yes, there is some work involved here. You need to promote it correctly; otherwise, it will just be a waste of time and investment.
If you decide to make a go for it, thinking outside of the box is highly encouraged. Think of ideas that set you apart from the rest of the crowd. Though you are geared towards holiday promos, the idea here goes beyond that one-day event so that you are making sure that your strategies make a ripple effect on the back end of your beauty business. When set up correctly, these promotions make repeat buyers out of your clients and will make them value your products and service more than they do your discounts. As you know, offering discounts is not always a way to build a loyal clientele but there are ways you can increase your products and services' perceived value. Think about value-adding ways to promote your services other than just offering discounts. You can have discounts on certain products or services that are selling less, the kind which clients are a bit afraid of or not as popular. It's not necessarily that you put your best seller services on promo, because they are already selling every time and all the time. Bundling and upselling are also the kind that you have to think about. It increases your average order value.
More than just creating the special offers you have in mind; you need to promote it wherever and whichever way you can. It is important to let people know about it. Make it known on all social media platforms and you can even make a contest out of it. You can even connect with other beauty businesses about your promotion, promote each other's businesses, or have it on radio or tv.
If you want to dig in more and find out three strategies that are going to boost your overall revenue without a discount, then check out the mini-workshop that is happening next week. www.aprilmeese.com/bf.
"When you are constantly offering discounts, that’s not a way to build a loyal clientele. That doesn't mean you can't offer them from time to time. But if you're always offering discounts, then what happens is you bring in clients that are loyal to the discount and not loyal to you."
- April Meese
Topics Covered:
02:20 - How Black Friday, Cyber Monday started
03:25 - The pros of running a promotion during Black Friday or Cyber Monday
06:54 - Truth is, people are going to spend money at this time of the year
07:37 - A strong encouragement to think outside of the box during this one-day event sale to grab consumers' undivided attention
08:21 - Why shy away from discounts and do value-adding instead
08:43 - The cons of running a promotion during a one-day Black Friday event
09:37 - Why always offering a discount is not always a way to build a loyal clientele
10:20 - 50% off, half-off, and buy one get one free - which has more perceived value?
11:07 - Is having a price off recommended?
11:25 - Of upsells and average order value
13:22 - Don't miss out on opportunities to offer promos
16:44 - Talk about your promotion on all social media platforms and run a contest
18:14 - How to make it a WIN for the client every time
21:23 - Three ways of increasing your revenue
22:03 - Which service to offer as discounts and which should not be
24:02 - Don't miss a mini-workshop coming up next week to give you three strategies that are going to boost your overall revenue without a discount
Key Takeaways:
"Don't just halfway do it. If you're going to do it, you need to take the time and you can always tweak and make it better. But also don't get stuck in making it perfect." - April Meese
"The thing is, if you're not promoting your holiday special, even if they're thinking like 'Whoa, I might buy that', something else comes along and gets their attention and gets their dollars. That's why I really strongly encourage you to think outside of the box for a Black Friday or Cyber Monday special." - April Meese
"One of the reasons that these specials work so well is it creates this urgency. It creates a deadline, so it gets people to take action." - April Meese
"Let me give you some pros because people say, why bother? Well, the first thing is brand awareness. The second thing to having promo is the likelihood of hitting your goals and revenue. The third is, having that continuous plan that you can use over and over and over again when you find something that works." - April Meese
"Let's talk about some of the reasons why people don't do it. It's going to take some time to put things together, whether it's just getting the creative juices going on what you can offer, thinking outside of the box is going to take time to organize it a little bit. And it's going to take time to promote it. So that's where you have to think about that extra money earned, and how it's going to be worth it." - April Meese
"There have been studies done on this and there is a perceived value in the buy one get one free, people actually perceive more value from it. They're getting more from it. Even though technically, it looks like they're all about the same. So that's why I talked about bundling, we talked about adding value to the service." - April Meese
"Your promotion needs to be a WIN for the client, meaning there is a sense of wonder for them and they're like, 'Wow, that's awesome, I wonder if I could have that promotion or I wonder if I could do that. The I, stands for the irresistible offer and then the N is for no brainer, no objections." - April Meese
If you would like to get a FREE copy of my "Uncommon Strategies to Get Clients Now" where I share my signature Client Attraction Formula then click here for that PDF https://www.aprilmeese.com/client-attraction-formula
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