It’s Black Friday week, and while some business owners are waiting for those last few days of Black Friday, many businesses are already promoting and selling their Black Friday offers.
And my goal this week is to help you maximize sales and profits from your Black Friday offers and promotions.
So, one important question: who is the best (aka most profitable) audience to sell to this Black Friday?
Well, why you should try as much as possible to make sales from all different types of audiences, your biggest focus should be your hot audience.
Hot audience
These are people that have bought from you before. Hopefully they had a great experience buying from you and using your product/service, so you’ve not burnt your right to go back to them for business.
Two reasons you want to really focus on these people:
1. It is proven that repeat customers are 9 times more likely to convert than a first-time buyer. Does it not make sense, therefore, to focus more attention on this person?
2. They appreciate your discounts better because they most likely paid more for it. It’s natural; if I bought something from you and really loved it, the next time I see you giving discounts on same or similar product (or even any other thing you sell), I’d be the first to jump at it.
This works even better when you sell consumables.
Whenever we do promos, some of our loyal customers take advantage and stock up on our products during this time.
Next?
The next best audience to focus on is your warm audience; those that on your list but haven’t bought from you.
These are people on your email list, your social media followers, etc. Some of them would see it as an opportunity to be able to afford your product/service. Some who already liked your brand but are still on the fence might see that as an opportunity to give you a try.
At the end of every promo, even when we still did cold audience, existing customers always take the top spot of promo buyers, followed closely by our warm audience.
And now these are the two audiences we usually dedicate our holidays and observances promos to at BeauCrest.
We send daily emails, push out retargeting ads, queue up a lot of social media posts, even do bulk SMS sometimes…all to our existing customers, subscribers and social media followers.
And it’s always worth the effort.
Try it too. And let me know how it goes.
Oludami
