Top 7 mistakes brands should avoid during Black Friday Share via Varun Jain November 15, 2021 The biggest shopping time of the year is just around the corner. This is the time when shoppers are really excited to shop to their heart’s content. But for brand marketers, Black Friday can be stressful as there is always added pressure to achieve better sales than the previous year, with competition increasing manifolds. The slightest of mistakes can see brands trailing far behind their counterparts. This blog will discuss the top mistakes companies should avoid to achieve their targets without any hassle and make this sale event a rewarding experience. Delaying promotional activity One of the most common mistakes brands make is delaying their Black Friday promotional activity until the very last day, losing out on potential sales opportunities. Starting the promotions and informing your customers about the deals and offers you are planning well ahead is vital for any business, as it captures the shopper’s interest when the intent to purchase is high. In addition, sending reminders about the discounts and other benefits to your existing customers through e-mails, newsletters, or app push notification is a great way to generate higher conversion during the shopping season. Not collecting customer data Black Friday is when brands acquire tons of new customers who will shop at their stores because of the irresistible deals and promotions on offer. Hence, brands have to undertake many strategies, marketing activities, logistics, and inventory management measures to make it a successful shopping season. However, these efforts can waste if brand marketers do not collect the new customer’s data like date of purchase, e-mail address, mobile number, and reviews and suggestions. This information can help the brands retarget these customers in the future, create campaigns that could resonate well with them, and help drive sales. Also, with third-party cookie tracking phasing out in the near future, companies will have to strengthen their first-party data collection to reach their customers efficiently. No action on abandoned cart One of the biggest challenges the e-commerce industry faces across the globe is the issue of cart abandonment. The shopper can abandon the cart for various reasons, including being unsure about the products, looking for another alternative, finding discount coupons, or thinking about completing the purchase later. And once the cart is abandoned, it is challenging for brands to get the customer to complete the transaction. But ignoring it can be catastrophic. Instead, marketers should use customer data to send reminders to the shoppers about the products in their cart and ask them to complete the purchase. They can also incentivize the customer by providing additional discounts on the items in the cart to make them take favorable action. Creating a sense of urgency by informing the user about the products going out of stock can also get shoppers to respond favorably. Taking loyal customers for granted Some brands take their loyal customers for granted and assume that they will reach out to them automatically for shopping during the shopping season, owing to the loyalty they have displayed earlier. But they should remember that their loyal customers are flooded with promotions from hundreds of companies trying to capture their attention by offering them various lucrative deals. So, brands should strategize to make their loyal customers feel wanted during Black Friday, to retain them and increase conversion. In addition, loyal customers should be given early access to the sales offerings, and they should be notified through text or e-mails about what you have in store for them. Creating personalized deals based on their previous shopping history will surely make your existing customers special. Focusing only on discounts Just focusing entirely on providing discounts may not entice the shoppers to its fullest as there will be hundreds of similar deals going around during Black Friday. Instead, brands should look to attract shoppers through various other offerings apart from just providing significant discounts. For example, they can provide consumers with offers like ‘Buy One Get One,’ free shipping, complimentary gifts with their purchases, or provide them with additional discount vouchers for their next shopping. These add ons are surely make the customer’s shopping journey an exciting one and may coax them to make an additional purchase at your store. Brands should also take measures to keep their brand positioning, messaging, values, and targeting intact during this discount frenzy. According to reports, new-age consumers are more likely to buy from purpose-driven brands. Lack of preparation for Cyber Monday and beyond Brand marketers should prepare for Black Friday, but they must be mindful that the shopping season is not over once the event is concluded. Black Friday is followed by Cyber Monday, which provides an equal opportunity for the brands to increase their sales as consumers are still looking to buy newer products at steep discounts. In fact, this kickstarts the shopping season in most parts of the world, which continues until Christmas, and companies should be prepared to pull the existing and new customers towards their products and services. Setting unrealistic targets Black Friday, the biggest retail event of the year, can put brands and marketers under a lot of pressure to deliver, and that sometimes can make them take more than they can handle. To stand out from the cut-throat competition, companies try to do many things at once, ending up being stretched too thin that they won’t be able to complete those tasks at hand, impacting other activities in the process. Instead, brands should carefully look at their capabilities and decide on the shipping time, how quickly they can replenish their inventory, and what products are in stock at any given point in time. Promising your customer more than what you can deliver will hamper the relationship and the brand’s reputation. Since Black Friday and the following holiday season present tremendous opportunities for brands and retailers alike, avoiding these mistakes can help them navigate successfully through this shopping carnival.