Black Friday Success Tips for Handmade Shop Owners
You can watch the video, or read the post below.
Tip #1 – Give people a reason to buy
You’re probably going to schedule your posts on social media, send a newsletter to your mailing list if you have one or whatever promotion you decide to run. It’s all great, but something I don’t see enough and that’s really powerful is giving people a reason to buy. I know it sounds obvious, but not a lot of people are doing it and it can make a really big difference in your conversion rate. The reason for that is people like to be told what to do. Even though they might love your product, if they don’t have a reason to buy it, they probably won’t. That’s why, when sending an email about your promotion, give people a reason to buy from you – Black Friday is the start of the holiday shopping season, but you have to remind them of that. What you’ll want to do is to send them a recommendation or create one image per recommendation to suggest them some of your products as gifts. It may be things like: ‘Get X for your sister’ or ‘Save 50% off dad’s Christmas present with our Black Friday sale’ or whatever it is that you can advertise, really. Try to make people think about why it’s a great idea to buy their Christmas present now while it’s Black Friday and try to explain to them that your product is a great gift.
Tip #2 – Don’t put a product on sale if you’re not sure about your pricing
You don’t have to run a sale on Black Friday. It’s great if you can, but I don’t want you to do it unless you know your numbers very well and are very clear on how much of a discount you can afford to give and still make a profit. If you’re not sure I want you to go back to your pricing strategy and understand what profit margin you have on each of your products and for which ones it makes sense to have a sale and for which ones it doesn’t. Unless you want to get rid of some stock, don’t feel pressured to give a big discount because everyone else does it. You really don’t have to do it, unless you know it’s still making you money. Even a discounted item should still make you money!
I know it sounds really obvious, but trust me, I’m working with a lot of makers and most of them are not sure what their profit margins are on each product. In this case, running a sale can be dangerous and detrimental. If you don’t know exactly how much discount you can give, it may lead to you working like crazy and shipping those products for not much return. So, make sure that you’re clear with your pricing strategy and don’t feel you have to discount everything in your shop because your competitors are doing it.
Tip #3 – Running ads
Paid ads are wonderful. They are a great way to reach a wider audience, get people to your shop and turn them into customers. Although they are fabulous, I think you shouldn’t be using them in a few cases. The first one is if you are not experienced at all with Facebook ads or Pinterest ads, or any sort of paid ads. Don’t start on Black Friday unless you get help from a professional or have time to invest in training and doing some experiments beforehand. The reason for that is because Black Friday is really competitive, which means that ads are more expensive. I don’t want you to test waters with paid ads with the small budget that you have on Black Friday because it’s actually a very, very competitive, difficult weekend when it comes to using paid ads.
Another situation where I don’t want you to be using paid ads on Black Friday weekend is if you’re not clear on what your conversion rate is. I don’t want you to start bringing paid traffic to your shop if you don’t know for sure that this traffic is going to convert into sales. If you don’t track conversion rates, again, it’s probably not the best to test that on Black Friday because you could be paying a lot for ads to be sending traffic to your site and then that traffic not converting into a sale. That’s pretty much just money you put out the window. I’m not writing this to scare you out of using paid ads. They are great and I do think that if you’re ready and if you know that your conversion rate is reasonable, if you have experience with ads or some help in some way via a professional or some training, then 100% go for it because it’s a great opportunity; but please be cautious with it as well.
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