Undoubtedly, shopping for holiday gifts and taking advantage of Black Friday deals has become a tradition. However, as a business, you can benefit from Black Friday by saving on purchases and bringing in additional revenue and profit from your sales. As a general contractor, subcontractor, or someone who works in a similar field, you may be a unique store. However, you should still run sales to make money and bring in new customers. At the same time, you need to score some sweet deals to stock up on your materials and other items your organization needs.
Promoting sales in the construction business can be more challenging than it is for other companies. However, you can do more than offer a 10-15% discount on labor. When you offer deals or discounts, you need to ensure that you and your organization can afford them and deal with people who might want rainchecks or ask for a discount even after the period has ended.
This is also an excellent time for business owners on a tight budget to update their stock and buy new business tools. Even though deals are still coming, it is best to get ready and buy when the time is right.
Luckily, you are not alone in this dilemma. In this article, we have provided strategies for buying and selling on Black Friday to ensure maximum profitability for your business.
What You Should Do as A Buyer on Black Friday
As stated earlier, Black Friday is the best time to invest and stock up on resources you have been waiting to procure. Whether it is something simple as a handyman tool set or construction project software, you must ensure that you get the best bargains for your investment. We have listed three things you need to do before securing and taking advantage of some of the best Black Friday deals.
Figure Out What You Need
First, you should think about what your construction business needs now – do you need a specific time of tool or equipment? You may need a particular resource to help you manage your project, like construction management software for subcontractors.
You also need to consider the materials and resources you need to carry out your daily operations and overall strategies, such as office supplies, computers, and technology. You will know exactly what your top priorities are and will not end up buying things on a whim, which could hurt your company’s profitability.
Do An Extensive Research on Your List
Now that you know what you need, it is essential to understand how much these things usually cost. This way, you will know how much money you will need to save before Black Friday comes and come up with a safe plan for shopping. You can utilize sites that compare prices to see how much the items cost and compare it with the available discounts and deals.
You can also stop by stores near you to try out products before the big day. This will let you choose products you know will meet your needs before buying them. No doubt, you want to get better deals, whether shopping at physical stores or online. Most online stores now offer free shipping, which is safer than going through the hectic crowds in-store or online. Keep in mind that Cyber Monday is when many online stores have their best sales, while Black Friday is when most brick-and-mortar stores do.
Wait For the Perfect Timing
Some stores only offer deals for a certain time or have limited stock. Stores try to create a sense of urgency as the deals can only be available for a short time. Even though making a schedule of deals for Black Friday might be a bit much, keeping your finger on the pulse as the day goes on is a good idea.
Social media is also an excellent way for businesses to provide various information about hot deals to their clients to keep up with real-time changes. You can get top construction management software at a competitive price, adding more value to your company.
Getting to the stores early is a good idea for your trip there. You can work with your friends or families and split your list between the stores and decide who will be in charge of each store during the morning rush. This way, you can make money from more than one store opening instead of just one.
What You Should Do as A Seller on Black Friday
There is no one-size-fits-all answer when creating marketing plans to sell your services for Black Friday. You should know what will work best for your customers and what they want. But some tried-and-true marketing strategies can help you with Black Friday.
Taking Part in this Thanksgiving Shopping Season
Remember that Black Friday and Cyber Monday, as part of the Thanksgiving shopping season, are the busiest shopping days of the year. So, if you own a business, you should consider taking part, regardless of your industry. It is a great way to keep your current customers happy and get new ones, but you will have to do more work to prepare for the onslaught of possible clients.
Decide and Finalize Your Black Friday Deals
What you offer on Black Friday will depend on what kind of business you have. If you sell physical goods, you should buy them bulk to save money and pass the savings on to your customers. You can even use loss-leaders to get people to visit your online store, but if you do this, you should always try to make a sale of something more expensive. Only buy a little, especially if you are stuck with some inventory that is not moving – especially if it is something that should be used or consumed immediately.
If you usually sell services instead of goods, as with general contractors and subcontractors, you should consider what makes the most to sell in this period. Instead of lowering the price of your gold-tier service, you could offer a free design or construction consultation as a way call to bring in more potential customers and secure more projects in the future.
And if you sell digital products like eBooks, apps, and software, like project management software, discounting them is a great way to keep them from becoming less valuable.
Test and Try Things Out
In today’s digital age, most clients look into a business’s website to check its credibility and portfolio before availing of its products or services. Before the big day, ensure your store, website, payment, and delivery systems all work well. How are you going to handle the extra people visiting your site and the feedback from customers?
If you think your website will get many visitors, ensure your server and hosting account can handle the extra bandwidth. It would help if you talked to the person who built your website or the company that hosts it to find out what strategies you can implement to ensure it does not crash.
The sales copy may be the most important thing. Most people will put the item in their shopping cart but will not buy it. Make sure you have some appealing “calls to action” to get them to finish the sale.
Make It Seem Important and Urgent
Write copy that shows the urgency to get people excited about your sale items. Customers are more likely to act on your Black Friday ads if they feel the time is running out or there aren’t enough products.
Making people feel like time is running out is essential because it helps to get their attention. In a crowded inbox, for example, an email that stands out and makes people feel like they need to act right away is more likely to be read than one that doesn’t. You can get people to work now instead of waiting. Customers will be more likely to take advantage of your Black Friday deals if you give them a limited-time discount or early access to sale items.
Spread The Word Out
Social media is a great way to reach a larger audience without needing a ton of paper or collaterals. It will take you up to a few minutes to set up some postings on social media. It is essential to get your sales emails written as soon as possible, and you should also schedule reminders and follow-ups for various times throughout the day. Consider the process your customers go through when making a purchase and organize your physical location or website so that it directs them to the route that appears to offer the most significant potential for financial gain.