How to effectively start a business during Black Friday 2024?

With the approach of Black Friday, considered one of the most important commercial dates of the year, especially in Brazil, many entrepreneurs begin searching for different strategies to boost their sales and attract more customers, without jeopardizing the financial health of their businesses.

The Financial educator, João Victorino, Many entrepreneurs face the biggest challenge in adjusting their financial planning and inventory control to meet temporary, high demand. "A common mistake is offering discounts without a clear assessment of profit margins. After all, aggressive discounts, without proper analysis, can generate high sales volume but cause serious cash flow problems," he points out.

To help small business owners make the most of the date, João has compiled some key tips for those looking to boost their Black Friday promotions:

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

2. Clear communication and attractive offers
Effective communication truly engages the audience. With so many brands vying for consumer attention, it's crucial that offers are attractive and well-explained. Clear communication and a well-segmented campaign can be decisive in attracting the right consumer and preventing cart abandonment. I suggest entrepreneurs use promotional emails with countdown timers and explore social media to build anticipation and engagement.

3. Efficient service
Customer service deserves redoubled attention, as increased order volume may overload the team, and efficient service during Black Friday can be a differentiator in customer retention. Automating part of the service with chatbots for frequent questions is an interesting alternative, in addition to the importance of a well-structured post-sale process. A personalized message thanking the purchase and offering a coupon for future acquisitions can create a positive bond with the customer.

4. Data Analysis
Entrepreneurs should conclude Black Friday with a detailed analysis of the campaign's results. Monitoring metrics such as revenue and conversion rate allows businesses to learn from each campaign, optimizing future actions. Black Friday doesn't end with the sales; therefore, using the data to understand consumer behavior and plan future campaigns with greater precision is essential.

5. Differentiate Black Friday and Christmas: avoid "contamination" between the dates
It's important to clearly communicate the difference between Black Friday and Christmas dates to customers, highlighting the purpose of each. In Brazil, this distinction still creates uncertainty in the retail sector, as many Christmas purchases are pre-empted during Black Friday. Discounts are characteristic of Black Friday, while Christmas has a different objective. Exaggerating discounts or making strategic errors can negatively impact results, especially if Christmas sales are weak due to this 'contamination.'

For the financial educator, preparing in advance and monitoring each stage of the campaign are the secrets to success during Black Friday. "Each challenge overcome is an opportunity for learning and growth, and a successful Black Friday not only increases sales but also strengthens customer confidence in the brand," concludes João.