The month of November has several opportunities to capitalize on. There’s Thanksgiving, Black Friday and Cyber Monday. Thanksgiving is mostly reserved for the big box stores that close their doors and re-open them at night. For smaller businesses, Black Friday and Cyber Monday are the main contenders.
It’s good to have promotions for both shopping holidays, but you should have more of your eggs in one basket. This way, you can run the appropriate campaigns and move specific products out of your warehouse. Let’s explore which day is best for your business.
Pros and Cons to Black Friday
Black Friday is best for businesses that have physical stores. Sure, it can be annoying to have people banging on your doors at 5am, but this is the thrill of Black Friday. So if you have a physical location and a few specific items you want to sell, Black Friday might just be your day.
As you know, having people in your store increases sales and boosts visibility. People who may not have known about your business now do. You can use this opportunity to put on your best front and send customers home with coupons for future purchases.
The cons to Black Friday are obvious. It’s crazy out there. Customers have to fight through traffic, stand in long lines and risk the possibility that they won’t get what they came for. Your store and employees must be ready for the traffic; this can mean staffing long hours, stocking extra inventory and maintaining the store. All things to think about.
Pros and Cons to Cyber Monday
All businesses should have a Cyber Monday strategy, even if they aren’t ecommerce. Last year, Cyber Monday brought in $3.45 billion in sales. It doesn’t compare to the $655.8 billion spent on Black Friday, but numbers were up 12% from the year before.
One of the great things about Cyber Monday is the time-sensitive deals – some just a few hours. If you have a specific product you want to promote, you can offer a killer discount and wipe out excess inventory. By creating highly targeted ads, you can reach people in the right moment.
Just as your physical store should look its best on Black Friday, the same goes for your online store on Cyber Monday. To ensure a smooth and seamless shopping experience, your website must be mobile friendly. This includes having quality images, easy-to-click buttons, progress indicators, customer reviews and trust signals. A positive user experience encourages people to shop on your site longer, spend more and return in the future.
What’s the Verdict? Black Friday or Cyber Monday?
Both shopping holidays are good for business, so it’s smart to have strategies for each. With that said, we think Cyber Monday has the edge. You don’t have to worry about managing large crowds that can have a negative impact on the customer experience. You can also easily move excess inventory, target ads to the right audience and maintain a higher quality of customer service.
What is your business planning on doing this year? Are you saving the best deals for Black Friday or Cyber Monday?