Follow These 6 Steps To Run A Killer Black Friday Promo

This year's Black Friday Cyber Monday promotional event will likely be unlike any other.

It'll be a record one – if you do it right that is! BUT... getting organised early is absolutely key.

Here are some statistics from 2022 results to give you some idea of the scope of this event:

In 2022, Australian retailers saw an 11% increase in revenue on Black Friday alone compared to 2021, and a whopping 239% increase compared to the average for just the previous month.

And last year, e-commerce stores processed well over $65.3 billion in sales just during on Black Friday alone, not counting revenue throughout the remainder of the traditional 4 day Black Friday Cyber Monday promo long weekend. It is enormous.

The Black Friday promo event continues to grow here in Australia as well as globally year on year. And it now represents the start of our typically busy Christmas and holiday sales period.

Aside from the revenue spike, which I'm sure everyone would be pretty keen to experience in your business, there are some good reasons to run a promo like this:

1. You can encourage more new customers to try your stuff for the first time, AKA acquire new customers who might otherwise not purchase from you,

2. You can encourage existing customers to come back to buy again. As you should know by now, increasing your customer lifetime value and increasing the number of times your customers have bought from you, is the most effective way to increase your profits, and

3. It can help you to sell through old season or slow moving stock. Although word of warning here, don't ONLY use old or slow moving stock in your promo or you won't enjoy the first benefit of acquiring new customers. New customers will only become repeat customers if they really love your stuff, which they're less likely to do if they only try your less popular stuff.

If you want to make the most of this year's biggest shopping event, it is critical that you start planning and implementing as early as possible...like now.

That's where this episode can help!

Think of this episode as part-checklist and part-inspiration to help you plan and execute an absolutely killer Black Friday promo this year!

And don't miss the free checklist download as well – go here to get yours today: www.catherinelangman.com/blackfriday

For the full show notes visit https://www.catherinelangman.com/episode-192/

Links mentioned in this episode:

If you'd like help to achieve your goals in 2023 I invite you to have a chat to find out how we can make that happen together.

https://www.catherinelangman.com/work-with-me/

https://www.catherinelangman.com/blackfriday/

https://productpreneurmarketing.com/lets-talk/