Every year, Black Friday attracts hundreds of millions of people to seek out the best deals on consumer electronics, clothing, and digital merchandise. Out of the 155 million Americans who shopped on Black Friday in 2021, more than half did so online and many of these purchases were done on mobile devices.
Digital marketing is an immensely important way for companies to promote themselves in effective and compelling ways on Black Friday. Budget allocation for advertising can be a challenging process but if done correctly it can reap great benefits. There are strategies you can implement as a company that will maximize sales keeping the overall cost as low as possible.
As a growing company, here are some ways you can allocate your advertising budget this Black Friday:
- Offer long-term benefits. Black Friday deals don’t have to be limited to just Black Friday! By offering long-term benefits, customers are able to establish a stronger relationship with your brand. Exclusive offers and consistent communication can lead to a meaningful connection for both the customer and the company.
- Express urgency. By promoting a sense of urgency in the timing of a purchase, people are a lot more likely to avoid missing out. This is a potentially free way to switch up marketing strategy and attract consumers in time for Black Friday. It emphasizes all of the benefits a customer can expect to receive on the day of the sale so they don’t feel like they will miss out.
- Utilize social media (obviously!). Social media is a powerful and accessible way for you to advertise your Black Friday sales. It is smart to allocate parts of your budget toward reaching broad audiences on platforms like Instagram or Facebook. The large user base of these websites creates huge potential to attract new and returning customers. There are also options to sell directly through social media platforms so as to streamline purchases on and after Black Friday.
- Optimize your website for online shoppers. Time is of the essence for online shoppers. It is crucial that online shopping be intuitive and easy for customers to navigate. Making a purchase shouldn’t take so long that a potential customer grows frustrated and moves on to another website. Although this suggestion is potentially more expensive than the others on this list, it is a necessary step to consider as a growing company.
- Programmatic ads during Black Friday. Programmatic advertising can be used by marketers to tap into specific audiences. By targeting online demographics, you can focus your Black Friday advertising efforts towards customers that would respond positively to your ads and show interest in your products. This is a highly effective form of advertising that can have a high impact in ways that benefit your company directly in the long-term.
Black Friday is a busy day for the digital advertising industry. Companies are scrambling for opportunities to stand out and maximize profit and so it is important to allocate your budget effectively. Nearly 90 million Americans shopped online last year on Black Friday and globally this number will be much larger in 2022. While every situation and company is different, productive strategies will help you to maximize sales without overspending.