When it comes to your Black Friday marketing strategy, it’s easy to think, “Let’s just throw together a quick promotion to make some money.” But that’s where so many entrepreneurs miss the mark.
Black Friday and Cyber Monday aren’t just about quick cash grabs but about creating long-term value for your business.
Here’s what I’ve learned after 25 years of running a business…
It’s not just about making a sale, it’s about generating a buyer. Let me walk you through why a poorly executed Black Friday offer could end up costing you big – and how you can avoid that.
The Real Value of a Buyer (It's Not Just About One Sale)
If you’re new to the game, you might think, “I just need to make some money.” But that’s not the right approach. A truly successful Black Friday promotion is about turning prospects into buyers. A buyer is 15 times more valuable than a prospect.
You heard that right. When someone goes from being a prospect to a buyer, it’s so much easier to make the second sale. That’s where the real value comes in.
Think about it like this: if you send a promotion to 1,000 buyers versus 1,000 prospects, you’re likely to see 15 times more sales from the buyers. Those repeat sales add up fast. That’s why your strategy for Black Friday should focus on turning as many prospects as possible into potential future buyers – and not just about making a quick buck.
My Black Friday Strategy
I ran a Black Friday promotion to test a product we had never sold on its own before. Our Launchy.ai™ custom-built AI was always part of our flagship Product Launch Formula®, which costs almost $2,000. But for Black Friday, we broke it out as a standalone offer.
This kind of test is a great use of Black Friday. It allows you to try out a new product or offer without committing to it long term.
We ran this offer for a limited time, giving it built-in scarcity. Once Black Friday and Cyber Monday were over, the offer was gone. Whether or not we decide to offer it again in the future is still up in the air, but this test gave us valuable insights without locking us into a long-term commitment.
The takeaway? Use Black Friday to test offers and gauge interest. But make sure there’s a sense of urgency. Limited-time offers drive action and help you understand whether it’s worth developing the product further.
Don’t Discount Your Flagship Product
Now, let’s talk about one of the biggest mistakes you can make in your Black Friday marketing strategy: deep discounting your flagship product.
It might be tempting to slash the price of your most popular product to drive sales, but trust me, don’t do it.
When you discount a product by 90%, you’re resetting the perceived value of that product in the minds of your customers. They’ll never want to pay full price again because you’ve trained them to wait for a discount. This can have long-term consequences for your brand and your revenue.
Instead of discounting your flagship product, create an ancillary product, something smaller that complements your flagship – and discount that. This way, you can still drive sales without devaluing your core offering.
Crafting a Compelling Black Friday Offer
So, how do you put together a successful Black Friday promotion?
First, you need to sweat your offer. Don’t just grab something off the shelf that’s been gathering dust. Your offer needs to be fresh, compelling, and it needs to stand out in a crowded, noisy marketplace.
Black Friday is one of the noisiest times of the year. Your audience will be flooded with emails, social media posts, and promotions from every direction. You’re competing with great marketers who know how to grab attention.
So, how do you stand out?
▶ Make your offer irresistible. Whether it’s a discount or a bonus, show people how your offer will positively transform their lives.
▶ Keep your copy short and tight. People don’t have time for a 30-page sales letter on Black Friday. Get to the point quickly.
▶ Highlight the urgency. Let people know why they need to act now – and that this offer won’t be around forever.
Selling to a Warm Audience
Most of your Black Friday sales will come from your warm audience. Those are people who already know you, follow you on social, or are on your email list. Black Friday isn’t the best time to attract cold leads. Instead, focus on reactivating your past buyers and turning prospects into new buyers.
Since you’re selling to people who already know you, you can keep your copy shorter and more direct. These people are familiar with you, so you don’t need to spend as much time building trust. Just give them a compelling offer and a reason to act now.
Why Positioning Matters
Finally, let’s talk about positioning. You need to be very mindful of how you position your offer. Discounting a flagship product can erode the perceived value in your customers’ minds. Once you’ve gone down that path, it’s hard to get back to charging full price.
Instead of steep discounts, focus on creating a smaller, complementary offer that adds value without diminishing your flagship product. This strategy keeps your brand strong while still driving sales.
The bottom line
Whether it’s Black Friday or any other promotion, the same principles apply: know your strategy, create a great offer, and sell to your warm audience.
That’s how you avoid costly mistakes and set yourself up for long-term success.
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