How to effectively start a business during Black Friday 2024?

With Black Friday approaching, considered one of the most important trading dates of the year, especially in Brazil, many entrepreneurs begin seeking various strategies to boost their sales and attract more customers, without compromising the financial health of their businesses.

THE Financial educator, João Victorino, Explains that for many entrepreneurs, the biggest challenge is adjusting financial planning and stock control to meet temporary, intense demand. "A common mistake is granting 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 emphasizes.

To help small business owners make the most of the day, João has compiled some essential tips for anyone looking to boost their Black Friday campaigns:

1. Stock control and logistics
One of the major problems during Black Friday is products running out of stock or delayed deliveries, which compromises the customer experience and the brand's image. I recommend entrepreneurs proactively negotiate with suppliers and monitor stock levels 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 essential that offers are attractive and clearly explained. Clear communication and a well-segmented campaign can be crucial for attracting the right consumer and preventing abandoned shopping carts. I suggest entrepreneurs use promotional emails with countdown timers and explore social media to build anticipation and engagement.

3. Efficient service
Customer service deserves extra attention, as a surge in orders can overwhelm the team, and efficient service during Black Friday can be the key differentiator in building customer loyalty. Automating part of the service with chatbots for frequently asked questions is an interesting alternative, in addition to the importance of a well-structured post-sales process. A personalised message thanking the customer for their purchase and offering a voucher for future acquisitions can create a positive relationship with the customer.

4. Data analysis
The entrepreneur should end Black Friday with a detailed analysis of the campaign's results. This monitoring of metrics such as revenue and conversion rate allows businesses to learn from each campaign, optimising future actions. Black Friday doesn't end with the sales; therefore, it's essential to use the data to understand consumer behaviour and plan future campaigns more accurately.

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 causes uncertainty in retail, as many Christmas purchases are pre-empted during Black Friday. Discounts are characteristic of Black Friday, while Christmas has a different proposition. Exaggerating discounts or making strategic errors can negatively impact results, particularly if Christmas sales are weak due to this 'contamination'.

For the financial educator, proactive preparation and monitoring each stage of the campaign are the secrets to success during Black Friday. "Every 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.