There are very few things in this world I hate: Chestnuts. Undertipping. Clogged toilets. The television show Small Wonder.
Oh, and one more thing: when entrepreneurs want to play “Black Friday Cyber Monday” (BFCM).
That’s because about 90% of the time, Black Friday is not the right move for most businesses. Here’s why:
BFCM is notorious for loss-leader discounts to attract buyers with an easy yes so they buy more. So, unless you have a clear strategy to bring people to a richer purchase, you’re setting yourself up to discount for no reason.
You forfeit all your differentiation (one of the most important elements of good marketing)... it’s you along with a bazillion other guys screaming for people’s attention.
Discounting rarely works the way you think it will - you erode your value and train people to buy on price.
The market is super crowded with bigger brands with bigger budgets, making it even harder - and more expensive - to break through.
Deal-seekers are often more demanding and expensive to serve.
You leave money on the table!
It’s so much better to stay out of the muck and create an offer that solves a real problem for your most valuable customers and offer it when the marketing waters are a whole lot calmer.
Because you’re better than Black Friday.
Rooting for you!