Every November, like clockwork, we start seeing ads pop up offering Black Friday deals. Our inboxes are inundated with emails about these offers. As a consumer, snagging a deal can be exciting, but the perspective shifts when you’re a service provider or product creator.
Should you join in and make your own offer?
For someone like me, deeply involved in creating services and products, this time of year always leads to deep reflection. It’s not simply about deciding to follow the trend of Black Friday; it’s about carefully considering both the opportunities and the value involved.
Every year, I face the same dilemma: whether to participate in the event with my own offers, or to choose a different approach.
It’s a careful balancing act, trying to align the potential for more sales with maintaining the value and integrity of what I provide.
To me, Black Friday is like a two-sided coin. On one side, there’s the undeniable allure of heightened visibility and potential revenue spikes.
On the flip side lies the risk of diluting my brand’s essence and undercutting hard-earned customer relationships.
In the following musings, I’ll share how I navigate these waters, exploring ways to harness the energy of Black Friday, without necessarily resorting to the usual playbook of discounts and deals.
Feeling the FOMO: Navigating the November Craze
The sheer volume of offers around you can evoke a strong sense of missing out, especially if you decide not to participate in the Black Friday madness. This feeling, often referred to as FOMO (fear of missing out), can be quite compelling.
As a business owner, you’re faced with a decision: do you follow the crowd and roll out your own offers, or do you stand apart?
Because so many businesses are making their offers at this time of the year it is more challenging to stand out.
My friend Melanie Moore has opted for a different name and calls her offer a Purple Friday offer.
I’ve noticed that Mindvalley started their ads for Black Friday quite early this year, setting up a countdown timer indicating that the deal expires soon by creating a sense of urgency.
The Last-Minute Decision: It’s Not Too Late
If you’re heading into the Black Friday week without an offer, it’s not too late to make a move. You can quickly add a discount coupon to your existing offerings, send out an email blast to your subscribers, and share the promotion on your social media platforms. Even this last-minute effort can potentially result in sales.
Discounts vs. Bundles: Choosing Your Offer Strategy
When it comes to Black Friday promotions, I personally have a principle: I don’t offer discounts if I know someone has previously bought the same product or service at full price. However, I’ve occasionally provided slightly discounted tickets to events like Magical Creators Live, without offering additional bonuses to those purchasing at a lower price. I find that bundles, offering a collection of products or services at a discounted rate, create a sense of abundance and add more value than standalone discounts.
Creating a time-sensitive offer each day of the Black Friday week is an appealing strategy, but it requires careful preparation.
Preparation is Key: Planning Ahead for Time-Sensitive Offers
Preparation is essential, especially for time-sensitive Black Friday offers.
- Use this period to gear up for next year’s Black Friday campaigns.
- Start by paying close attention to the marketing strategies unfolding in your inbox.
- Which subject lines entice you to click? Collect and study email campaigns that capture your interest, even if you don’t intend to buy anything. They can serve as a source of inspiration for your future campaigns.
I find myself drawn to the strategies used by entrepreneurs like
⭐ Meagan Williamson – Pinterest Marketing Expert
⭐Karen Skidmore Business Coach & Mentor, and
⭐ Elizabeth Goddard – Online Business Strategist.
By the way all three of them currently are making very enticing offers, make sure that you join their mailing list to get access to them.
Leveraging Affiliate Marketing: An Alternative Approach
If you don’t have personal offers to put forward, consider affiliate marketing. You can promote Black Friday deals from other product or service providers. For example, platforms like TubeBuddy, Camtasia, and VidIQ often have attractive Black Friday deals. This can be an excellent opportunity to offer something valuable to your audience, especially if these products align with their needs.
For, instance, I am offering to sign up through my affiliate link for special Black Friday offers from TubeBuddy. If you want to grow your YouTube presence this is a must-have tool. You even can start with a free version.
Actionable Steps for Non-Participants: Preparing for the Future
Regardless of your participation this season, use this time for strategic planning and learning.
Mark your calendar for early September 2024 to start preparing for your Black Friday activities in 2024.
Would you like to join Magical Creators Silver membership which includes Planning for your Business Success sessions that allows you create your business systems to grow your business and make it profitable.
Maximising Black Friday, Offer or No Offer
Black Friday presents a unique opportunity for growth and learning, whether you participate directly with offers or not. From strategic planning to affiliate marketing, there are multiple ways to engage with and benefit from the Black Friday season.
Do you make any offers this year? Have you taken advantage of this year’s offers? Please share your thoughts in the comments.