How to Create a Small Business Saturday Sale
Sales are a great way to get customers motivated to shop on your website or in your store. Look at what larger franchises do for Black Friday. But before you go and run a sale at your business, you’ll need to understand the science behind it. At the end of the Small Business Saturday sale, your business should come out on top.
Avoid Doing These Things for Your Small Business Saturday Sale
The truth is that a discount sale works by tapping into the psychological aspects of the consumer’s mind. Some businesses use shady techniques for Black Friday. For example, in the weeks prior to Black Friday, the business might raise the price of an item by up to 30%. Then, they create a Black Friday deal with a ticking clock. This is usually called a doorbuster sale. This means that the sale only lasts for the first hour or two of the business day. The company then offers a 20 to 30% discount on the item. This reduces the cost back down to its normal price while giving the illusion that it’s cheaper than normal.
Because the doorbuster deal creates such a sense of urgency with the consumer, they will be more inclined to make an irrational decision and buy items impulsively, thinking that they are getting a good deal. Also, these doorbuster deals encourage massive amounts of traffic to your store or website. This will almost always equate to more sales. Since most items in the business aren’t on sale during Black Friday, the business will see a surge in sales at regular prices.
This all sounds shady. And you probably don’t want to burn local customers (or any customers, for that matter). Instead, you’ll want to run a Small Business Saturday sale that
makes money for your business and keeps customers happy.
What You Should Do to Create a Great Small Business Saturday Sale
When Small Business Saturday sale planning rolls around, you’ll want to choose only a few high-value, popular items to discount. Pick items that may trigger other purchases from your store or website. For example, an electronics store sells a range of TV models. The store owner has noticed that when people buy high-end TVs they also will typically buy a TV stand and HDMI cables. The profit from the TV stand and HDMI cables is $300. The profit from the high end TV is $500. The store owner knows that a $150 discount on the TV will entice more people to buy it. By offering the high-end TV at a discount, and keeping the TV stand and HDMI cables at a regular price, the store owner can increase sales, maintain profits, and please customers by giving them a deal.
These types of discount sales can be difficult to compute on your own. That’s why you’ll need a good point-of-sale software package. POS systems can help you understand customer buying habits so you know what items to discount and what items you should keep at a regular price. You can use some POS systems, such as Cybersys POS for different types of industries. Others, such as Toast or TouchBistro, are geared toward food service industries.
You’ll also want to run a ticking clock on your sale. This will encourage consumers to buy from your store or website.
Promote Small Business Saturday Using Social Media
There are a lot of ways you can use local social media to promote your small business.
Social Media Best Practices for Small Business Saturday
There are three foundational tasks you’ll need to set up for your small business:
- Make sure that your small business is on Facebook and Instagram: Include your business location, hours, contact information, description of the goods or services and website on your Facebook page. This way, people can find your business and get all the information they need when they perform a search online.
- Get a Yelp page and maintain the reviews: Not having any online reviews can be almost as fishy as having a lot of bad reviews.
- Get your local business listed on Google My Business: This will help your company show up in local searches.
These three steps are important for helping consumers find your business online and can go a long way for passively advertising your company. But it’s good to take a more active approach online. You can begin by posting high-quality photos on your Facebook page of the discounted items you’ll be selling on Small Business Saturday. Include details about the sale you’re having, such as the time and date. Be sure to mention that this is a Small Business Saturday sale.