Black Friday is among the busiest and biggest annual shopping days. And while most people consider this event to be just for B2C companies, there are numerous strategies that B2B organizations can rely on to exploit this day as well.
In 2019, about 93.2 million buyers made online purchases on Black Friday, while Cyber Monday saw 83.3 million shoppers. This led to a rise of 14 percent in online sales, which hit a whopping, all-time high of $7.4 billion.
This all seems like a great marketing opportunity for B2B, but how do you leverage Black Friday to your advantage? As a B2B company, you have to understand that your position is unique, irrespective of the service or product you offer.
Essentially, you have two clients—first, the business and, secondly, the audience they serve. Therefore, your services or products, either indirectly or directly, must appeal to them, which certainly isn’t going to be an easy challenge.
In this blog, we’ll be covering some great B2B Black Friday strategies that will help you make the most of the biggest annual shopping event. So, keep reading!
Prepare in Advance
Unlike B2C, B2B enterprises often fail to consider the advantages of this multi-billion dollar shopping event.
If you wish to be ahead of your competitors, you must take a proactive step in devising a strategy for this event. First, you’ll have to do some research. Communicate with your prospects in advance and ask questions that might help you strategize your move.
Give attention to specific questions concerning what you can do to take any burden off for the coming weeks. You can also ask about any issues they faced in the previous year that you might be able to solve now. When you ask the right questions, you’ll be able to process the information and predict the demand for the coming month.
Seek Different Marketing Approaches
Whether your primary marketing strategies leverage Google Adwords, social media, or email, this time, it’d be best to seek a different approach. This may be in terms of the format, quality, or offer of your marketing.
As a B2B organization, you need to figure out which service or product you offer when marketing to retail will be useful to your customer.
Additionally, you must assist them in getting through the event. You can then offer sales tactics or discounts to draw in new referrals, contracts or reel in additional businesses.
There was an instance where one B2B firm provided a free seminar and found out that 41% of the people that signed up were not aware of the brand before.
Make Adjustments As Per Your Clients’ Needs
In every business, anticipating and predicting the customer’s needs is one of the key elements. For instance, your clients’ inboxes are probably getting slammed by a surplus of sales-targeted email campaigns right now. And they’re most likely ignoring most of those emails in an attempt for sanity and self-preservation.
Consequently, you must figure out a way to engage with your client through the noise. Get around them, make phone calls, offer discounts to standing customers, and consider innovative discount initiatives to keep them engaged. Also, ensure that you engage with those who can appreciate your brand the most.
Use LinkedIn To Promote Your Offers
While having a stellar offer in place is excellent, you’re less likely to have any takers if no one knows about it. Fortunately, there are some simple and effective ways to make your clients aware of your Black Friday deals, such as with the help of different social media platforms.
For Instance, you can promote them on LinkedIn. It’s the number one go-to social media channel for B2B. Besides, 80 percent of leads for B2B come from LinkedIn. Additionally, it’s 227 percent more effective for generating leads in comparison to Twitter or Facebook.
If you’re already promoting freebies or discounts as part of the marketing tactic, you can tweak them instantly by including the words “Cyber Monday/Black Friday” in the direct message or post.
To raise awareness on LinkedIn, there are multiple options. You can send your offer through direct message or publish an article featuring a CTA (Call-to-Action).
Communicate Holiday Availability
Extended-hour services or vacation schedules is another essential consideration to keep in mind for the biggest annual sales event.
Your customers must be made aware of your availability. They should know if they can’t contact you throughout the scheduled vacation period. And, even more, they must see if you’ll be available if an emergency occurs.
Depending on your business nature, your B2B Black Friday profit could be lost or made because of availability.
B2B businesses differ widely, and as such, to devise the best B2B Black Friday tactic, you’re going to need more creativity than the average retailer.
Black Friday isn’t just for B2C, B2B companies can also leverage it to yield great outcomes. Irrespective of your business, the right B2B Black Friday strategies will help boost your revenue, improve sales, and reach new clients.