Black Friday has grown in the public imagination over recent years – it is common to see retailers offering huge discounts for their goods on the Friday after Thanksgiving in November.
So how does a small business capitalize on a big event like this?
We wanted to share some key ideas to help you make the most of Black Friday this year.
- Create a sense of urgency:
The buzz around Black Friday only works because the offers you make are unique. There are lots of excuses for extending the event (Cyber Monday has essentially become a way of offering things throughout the weekend), but be sure to limit yourself – if your customers can get the offer any time, they won’t feel an urgency to buy from you now.
- Reward loyal customers:
Your marketing efforts are probably going to be most effective at reaching your existing customer base. They’re the ones who have shopped from you before, and they are the ones most likely to recognize the benefits of your offers. PADI’s continuing education courses are best used for this.
- Don’t just discount – upsell:
Simply reducing the cost of your courses on Black Friday is unlikely to truly benefit your business – you simply give away profit and end up working harder for less. Your best option is to encourage people to buy full price, and get something extra as a reward.
- “Buy two, get one free”:
This is a classic sales technique that is easily deployed. Your customers choose two items and get a third item free. You need to look carefully at your profit margin on the first two items to ensure that the offer works, however used correctly, this can be a great way to encourage customers to increase their average purchase price.
- Keep It Simple:
Too many offers can be confusing for you, your staff and your customers. Pick a couple of attention grabbing headlines and use these to encourage consumers to visit your store. Even if they don’t take the offer in the end, you have a chance for them to see all the other products you have available.
So how might these offers look in real life? We’ve put together a few simple ideas that you could use in your store. You can use these as they are, or you could use them as inspiration to then make more individualized offers:
Target your Rescue Divers from the last two years and offer them a free gift if they register for a Divemaster course with you during Black Friday. They should be required to pay a deposit for the course over the weekend in order to secure the offer. You need to ensure that the price of the course includes enough profit to cover the cost of the gift.
Example promotion: Change your life and become a PADI Pro by completing your PADI Divemaster course with ABC Dive Center – BLACK FRIDAY OFFER! Register for your Divemaster course during Black Friday and receive a PADI towel valued at $35 completely free of charge!
The Buy Two Get One Free:
Target your Advanced Open Water Divers and offer them a free Oxygen Administration course when they register for their EFR and Rescue Diver course. O2 is an easy course to add on, with minimal extra time commitment, and a high perceived value.
Example promotion: Serious Fun! Become a PADI Rescue Diver today! BLACK FRIDAY OFFER! Register for your EFR and Rescue Diver course during Black Friday, and complete your PADI Emergency Oxygen Administrator Specialty free of charge!
The Customer reward / sense of urgency:
Target your Open Water Divers and offer them a reduced price on a Specialty course if they sign up within a certain time-frame:
Example promotion: Thank you from ABC Dive Center – BLACK FRIDAY OFFER! As a thanks to our loyal customers, we are offering a 10% discount on Dry Suit Specialties to everyone who has trained as an Open Water Diver with us in 2018. Limited spaces available – contact the store on Black Friday to book your training now!
Business advice is available to all PADI Dive Center owners – if you’d like ideas and support for promotions during Black Friday, contact your Regional Manager today!
Article written by Emma Hewitt