Black Friday: it’s the name given to the unofficial first day of the holiday shopping season, and is associated with the generally unparalleled deals on consumer products. Many consumers use this day’s incredible deals to justify spending their day buying (and often fighting over) a limited amount of goods. However, have you ever considered that Black Friday can also be a good day to both advance your B2B operations and take advantage of some deals yourself?
Boosting Your Service’s Perceived Value
If there’s a single concept at the heart of Black Friday, it’s maximizing the value that one gets out of a transaction. The less one can spend on a product, the better the deal. You can take advantage of a similar concept in your business as well, albeit a slightly modified one.
After all, an unfortunate side effect of discounts and price cuts is that these methods can sometimes make the brand itself seem cheaper and of lower quality. Naturally, this should be avoided. You don’t want to alienate potential clients when you’re trying to draw them in.
Instead, Black Friday is a good day for B2B businesses to embrace bundled deals and free add-on services. This way, you’re offering your bargain-hunting prospects increased value without potentially damaging your brand’s reputation, even unconsciously.
Black Friday for Your Business’ Benefit
Of course, why should your clients and prospects have all the fun on Black Friday–or, for that matter, Cyber Monday? Your business can easily also enjoy the benefits of this infamous day of deals.
For example, many suppliers and dealers will offer some invaluable deals on hardware and especially software solutions, as the profit margins on software allow for the deals on them to be much more generous to the purchaser. It may be invaluable to ask your vendors what kind of deals they plan to offer in a public forum, like social media. This way, they can see some benefit if they answer by piquing the interest of their other followers.
It may also be of benefit to have a ‘wish list,’ of sorts, for you and your vendors to reference as you seek the best deals on particular items.
However, it is also important to consider that many Black Friday deals have caps, where you can only buy x-amount of a particular piece of equipment. This means that bulk purchasing a particular laptop to standardize your office may be out of the question–but if there’s a big-ticket item that your office only needs one or two of, or you need to restock some of the basics that your office uses regularly, Black Friday might be your best bet.
Of course, the term ‘Black Friday’ has grown to cover what is more or less a week-long period of sales and deals. This means that you have an increased opportunity to nurture your audience and send them through their sales process. The urgency that Black Friday lends to it may help encourage their decision-making at a faster-than-normal pace, allowing you to encourage more sales and services in less time.
Whether you’re on the selling or purchasing end of a transaction, Michell Consulting Group is here to help. For assistance, give us a call at 305-592-5620.