Category: Best Practices
This post was updated on November 11, 2019, to reflect current data and trends.
Every year, over one hundred million of us brave the Black Friday shopping scene in person to track down those irresistible doorbuster sales. And if you aren’t brave enough to conquer the crowds in-store, there’s always the option for online shopping. In 2018, Thanksgiving and Black Friday online shopping reached almost $10 billion. Deliotte recently predicted that US eCommerce sales for the 2019 holiday season could reach up to $149 billion.
While B2B eCommerce doesn’t play as big of a role in Black Friday sales, B2B businesses should use this momentum as an opportunity to increase their own revenue.
- Your buyers want deals! 47% of buyers say they’ll only buy items on sale this holiday season.
- Your buyers are mobile! More than $2 billion of Black Friday sales came from smart phones in 2018.
You have an opportunity to take advantage of your buyers’ mindset and attention to deals, and take a piece of the holiday’s revenue pie.
Here are 4 last minute Black Friday and Cyber Monday ideas for B2B businesses:
1. Create unique promotions to incent purchases:
Since people are on the hunt for deals, build off of that enthusiasm by offering promotions of your own. If you’re worried about meeting your revenue goals, try a promotion that encourages larger than normal purchases in order to obtain the reward. Here’s a common one we see our customers promoting: Buy 5 products from category A and 2 products from category B and get something free!
2. Promote holiday orders to encourage customers to stock up on inventory for the holiday season:
Many of our customers will create special Holiday orders, or bundles, that their customers are encouraged to purchase or required to order at no cost to get themselves ready for the holiday season. One of our customers is a global cosmetics manufacturer, and they create a special holiday package of retail, backbar and tester products for salons to order to get their locations set for forecasted holiday sales.
3. Surprise and delight your employees with access to a special holiday gift catalog:
Holidays are a great time to thank your employees for their work throughout the year. Give them access to an online catalog of branded promotional items that they can order at no cost. Set budget limits (if you have them) and even limit access to higher end items based on role.
4. Create Black Friday specials for sales reps to offer in their territories:
Many times sales reps are the ones charged with bringing promotions to customers. Consider creating promotions and deals for your sales reps to use to close deals this holiday weekend. If you have a specific sales rep or territory that isn’t hitting their numbers, this could be a great way to help them build some momentum.
Since Black Friday and Cyber Monday deals are top of mind for people around the globe, it’s a good time to build on that momentum to drive sales for your organization.