Unless you have been living on the North Pole for the last few weeks you will be aware that Black Friday (BF) is upon us. For shopaholics this is the official start of the Christmas shopping frenzy.

(Disorganised shopaholics that is). True, organised shopaholics have written their cards, bought their presents and will not spend BF trying to decide if the deal advertised is actually a good deal or not.

 

The said reality is that most people will buy items on BF simply because they believe that’s the day, they will get the best price, and after all price is everything. Or is it? Should all businesses embrace BF?

Should all businesses discount their products and services just because an American tradition has been marketed to a worldwide audience and embraced by the advertising world, manipulating consumers into not only waiting until this day to shop but making them believe that unless it is on offer on BF it is not worth purchasing.

 

A few clients every year ask me if they should do a special offer or if I will be doing a special offer.

 

My answer to this is simple. No.

 

I will be doing the opposite – Buy Nothing Day.

 

I don’t believe businesses, especially independent ones should be forced to discount their products purely because retail marketing dictated consumerism says they should. BF may be suitable for the mass retail industry but not the independent services industry. Your clients or suppliers wouldn’t offer their services for what would be if heavily discounted ‘free’ so why should you? If you believe in your products and services are you are fair with your pricing, Black Friday should not be something you need to take part in. But, if you still want to take part, here are some suggestions on how to do it successfully:

 

• Test or launch a new product or service with a special offer, but remember, you will have to be able to justify a higher price at a later date
• Offer an add-on product or service to existing customers as a free trial but be clear about the pricing following the trials end
• Offer a joint special offer with another company but make sure it benefits you both – don’t rush in with a last minute unplanned offer.

My personal favourites, and what I will be doing this year:

• Recommending the services of a firm or product you already use to your social media followers – recommending or advertising another firms’ product or service is invaluable to independent businesses.
• Shop on Small Business Saturday and encourage others to do so… support local and support small.

Whatever you do, make sure it’s the right decision for you and your business. Never follow the crowd because you ‘think’ it’s the right thing to do.