If you’re confused about how to participate in Black Friday Weekend and what promos to run, this episode is for you!
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As we roll into Q4 and everyone is finalizing their marketing campaigns and promotions, I want to remind you that it’s YOUR business and you get to do shit YOUR way.
Some Lounge members have been asking, what promos should I run?
But the thing is… only you can truly answer that.
And I realize for most of them, that’s the whole idea of being in a membership, right? To be able to bounce ideas off each other, get feedback, and have someone point out something they didn’t think of because they’re too close. Yes, I encourage all the questions and I’m here for it.
But generally, what I find is that when we’re hemming and hawing over something so trivial in the scheme of things… and you notice I’m saying we – because I’m including myself in this statement… me and you friend. It’s because we’re not really putting ourselves and the vision we have for our business first.
Think of it like this. When it comes to your Black Friday promotion, it has to be in line with your business goals from a financial perspective, but it also needs to be in line with your brand positioning.
One of the members is a small sustainable and ethical boutique and eCommerce store. She was struggling to wrap her head around participating in Black Friday and Cyber Monday weekend, without pushing discounts and overconsumption when it doesn’t align with the message of her brand. It feels completely out of alignment for her.
So what was my response to her?
That message, of overconsumption, is the messaging. That EXACT thing. That’s the marketing campaign. Instead of going hog-wild at every other store that’s doing deep discounts and selling inferior quality products, she can promote the idea of investing in fewer items that are better quality, more sustainably made, and will last way longer.
She can still do a discount if she wants to offer her people a little something special, but it doesn’t have to be some crazy insane 40% discount. Maybe she puts together some bundles or a gift with purchase, or maybe you even just do a special offer on items you’re already trying to move.
Will she limit the number of people she reaches? Yes. But the people she does reach are those whose values line up with hers and will turn into die-hard fans. Those are the people we want. Not the ones who are going to come and buy one thing and never come back. What fucking good are they anyway?
Sure, a little cash upfront is nice. But the die-hard fans are going to be so much more profitable in the long run. You don’t have to bend over backward to get as many sales from as many people as possible. You just have to strategically put yourself in front of the customer who wants the thing you sell… because there is a customer for everything.
At the end of the day… it’s your business and you get to do it your way.
That’s not to say you aren’t going to struggle sometimes. That you won’t start looking at what everyone else is doing, wondering if you’re doing it wrong. We’re only freakin’ human after all. But when that starts to happen just pause and ask yourself what’s most important to you. What’s actually going to make you happy?
An easy extreme example is when you look at really big business. Maybe they have VC funding, they’re in all the marketing places, they’re working with huge influencers, they’re doing all the things and you’re getting starry-eyed like ooh, I want that too.
But what you don’t see… is the REAL behind the scenes. The investors to answer to, the low margins, the stress of dishing out all those paychecks and being responsible for the livelihoods of so many people.
and hey, maybe. you are about that life and you want everything that comes with it. That’s awesome and you should totally go for it. But if it’s not. don’t feel like you have to keep up with the Jones’.
So the moral of this week’s biz bite episode is to put your blinders on, look at your options objectively and figure out what lines up with your specific business goals. If you need help with that, snag the Badass Holiday Planning Guide. I walk you through how to figure out what promos make sense for you business based on what you’re trying to accomplish.