Black Friday and Cyber Monday are coming NEXT MONTH! By now, preparations should be well under way to make the most of this busy sales window. The good news is, there’s still time to maximize your efforts. This week, we’re showing some love to those companies operating in a business to business environment. How can you get in on the party?
As Canadians continue to spend more on Black Friday and Cyber Monday, a lot of business to business sales teams look on enviously as their retail counterparts clean up. What if we told you this time of year can also be a sales bonanza for B2B companies?
While the figures may not be as mouth watering as what a traditional retailer can expect, you can certainly enjoy a revenue bump with a little thoughtful planning. Plus, you won’t have the ignominy of going viral as customers brawl over deals on your shop floor! Here are some easy strategies to employ to boost your sales in a business to business environment this Black Friday.
Use it or Lose it
The first step to increasing your sales around busy holiday seasons is to understand how business budgets work. Many businesses operate on a “use it or lose it” basis when it comes to their budget. There are LOTS of managers looking for ways to spend their budget at this time of year; all you need to do is attract them through your door. Think of discounting products that may not be the sexiest in your catalogue but they are an item that every business need. Market these goods aggressively to businesses with direct mailouts and specifically targeted marketing.
When is End of Year?
A related point is to also understand when your customer’s end of fiscal year takes place. If your target businesses end their fiscal year around April 1, they’re going to need to spend money in March. While everyone else is eyeing up sales in November, your real Black Friday may actually take place in the spring. Be willing to bend to the reality of your customers and be flexible with your deals.
Emulate B2C Retailers
Businesses are always looking for ways to become more efficient and profitable. Take a leaf out of B2C marketers and extoll the virtues of how your products will open up whole new opportunities for your business customers. Did you know, in a B2B sale, personal value offers twice the impact of business value in closing a sale?
Ready to Help
Want to make sure your business is ready for Black Friday and Cyber Monday? GD Commerce is standing by to help. Contact Us and find out how we can lessen the load.