How to effectively undertake on Black Friday 2024?

With the proximity of Black Friday, considered one of the most important commercial dates of the year, especially in Brazil, many entrepreneurs begin to search for different strategies to be able to leverage their sales and win more and more customers, without generating a commitment to the financial health of their business.

The financial educator, Joao Victorino, he explains that for many entrepreneurs, the biggest challenge is to adjust financial planning and inventory control for a temporary and intense demand.“A A recurring error is to grant discounts without a clear assessment of profit margins. After all, aggressive discounts, without proper analysis, can generate sales in volume, but with serious losses to the cash”, he points out.

In order to share guidelines for small business owners to make the most of the date, John decided to list some tips that he considers fundamental for those who want to leverage their actions on this Black Friday:

1. Inventory control and logistics
One of the main problems during Black Friday are sold out products or delays in deliveries, which compromises the customer experience and the brand image.I recommend that entrepreneurs anticipate in negotiating with suppliers and monitor inventory in real time to avoid surprises. Offering free shipping can be a differential, but it should be planned for specific regions or for orders above a certain value.

2. Clear communication and attractive offers
Effective communication can engage the public in fact. With so many brands vying for consumer attention, it is essential that offers are attractive and well explained. Clear communication and a well-targeted campaign can be decisive to attract the right consumer and avoid cart abandonment. I suggest that entrepreneurs use promotional emails with countdown and explore social networks to create expectation and engagement.

3. Efficient service
Customer service deserves extra attention, as the increase in order volume can overwhelm the team, and efficient service during Black Friday can be the differential to build customer loyalty. Automating part of the service with chatbots for frequent questions is an interesting alternative, in addition to the importance of a well-structured after-sales. A personalized message thanking the purchase and offering a coupon for future acquisitions can create a positive bond with the customer.

4. Data analysis
The entrepreneur must end Black Friday with a detailed analysis of campaign results. This monitoring of metrics such as billing and conversion rate allows entrepreneurs to learn from each campaign, optimizing future actions. Black Friday does not end in sales, so it is essential to use the data to understand consumer behavior and plan future campaigns with greater accuracy.

5. Differentiate Black Friday and Christmas: avoid the“ ”contamination between dates
It is important to make clear to the customer the separation between Black Friday and Christmas dates, highlighting the purpose of each. In Brazil, this distinction still causes uncertainty in trade, since many Christmas purchases are anticipated during Black Friday. Discounts are characteristic of Black Friday, while Christmas has another proposal. Exaggerating discounts or getting your hand wrong in strategies can negatively impact results, especially if Christmas sales are weak because of this ‡CONTamination.

For the financial educator, the early preparation and follow-up of each stage of the campaign are the secrets to success on Black Friday.“Each challenge overcome is a chance for learning and growth, and a successful Black Friday not only increases sales, but also strengthens customer confidence in the brand”, concludes Joao.