Black Friday Sale 2020: Tips for Small Businesses in Singapore
July 14, 2020
The day in November that everyone has been waiting for, besides 11.11 of course, Black Friday! Adopted from the annual post-Thanksgiving day in the United States, Black Friday sale has now become a widely popular global event. Both offline and online retailers offer crazy hot deals and discounts.
This year, Black Friday will take place on Friday, 29 November 2020. Black Friday sale plays an important role in e-commerce turnover. Both small and medium-sized businesses normally prepare for Black Friday sales from early to mid-November, after singles day sale on the 11th.
Fun Facts from Black Friday Sale in Singapore:
The peak of shopping activity takes place at 12am and at 11 a.m.
There is a 511% increase in sales during Black Friday sales compared to an ordinary day.
A survey showed that a Singaporean will spend an average of $236 on Black Friday.
An average Singaporean buys 4 products during Black Friday.
Top products bought by Singaporeans during Black Friday are clothing, shoes, cosmetics, and electronics.
Last year's Black Friday Sale trends:
So, is it worth your time and energy as a business owner to push sales on Black Friday? The answer is definitely, YES.
Ecommerce Black Friday Tips
1. Blast E-mail Marketing to Customers
Kickoff the plan with an edm blast to your current AND potential customers. E-mail marketing is a proven strategy to expand sales and customer base quickly and effectively (if done well).
Custora reported that 25.1% of sales during Black Friday, worldwide, originated from email marketing, making it the biggest marketing driver for Black Friday sales.
Tips to create a marketing e-mail:
Catchy Subject Line: First impression matters. If you won't catch the reader's attention with your subject line, then your e-mail is most likely won't be opened.
Schedule: Send out your e-mail base on the time zones or peak of online email users. Always check when are your users most likely to open your email based on previous data.
“Add this event to your calendar”: Make your current and potential customers mark the date on their calendars so they will get reminders near the date or time.
Differentiate Past and Potential Customer: Create personalized campaigns for your current customers and potential customers.
Most importantly, give personalized offers as well. Your potential customers will need a bigger push to transact so give them a bigger promo.
2. Social Media Visibility
Who is not on social media these days? Utilize social media to increase awareness a few days or weeks before the day. This could be a chance for your business to showcase your products visually.
Tips to utilize social media:
Stock visually appealing contents: Making sure the photos are high quality, attractive and attention-catching. Again, first impression matters.
Schedule posts: Find the best timing to post on social media, peak hours where people are usually scrolling. For example, peak commuting hours, before work and after work.
Be responsive: If you received questions on your comments or direct messages, you are only one step away to success. Don't leave anyone hanging! Being quick to address questions, concerns or queries and secure it fast.
3. Referral Program
A referral program is one great strategy to reach out to more customers as the majority of people rely heavily on someone else's opinion. That includes deciding what to buy.
Tips for doing a referral program:
Attractive incentives: There are a lot of ways to create an attractive reward system. One thing essential is to do research on what interests your audience.
Indicate expiration: Create a sense of urgency will trigger people to make a call of action.
Aim to make it viral: As mentioned before, utilizing social media and aim it to be viral will definitely help spread your referral program.
4. Include a Countdown Timer
Customers, just like you and me, usually will take out time to compare the cheapest products with competitors before deciding to purchase.By adding in a countdown timer to your promotions, you will trigger your customers to take swift action. Immediate decision to close that sale right there and then.
Where to use a countdown timer:
Promotional emails: In the email campaign that you have planned out, not only include an "add to calendar" reminder, but also a countdown timer to trigger customers.
Landing page: If your business has its own website, it is recommended to include a countdown timer nearer the date as well.
Social media posts: An additional content for your Black Friday social media campaign is a countdown towards the d-day! As mentioned before, if your target audiences are always-on social media, it is a good platform to send them reminders.