Offering discounts at certain repeat opportunities is a tried-and-tested sales argument that also convinces many B2B customers. But this is not the case for every industry. Which is why Black Friday marketing, for instance, for the B2B segment should be well thought through and prepped.
Does Black Friday marketing also work with B2B customers?
The Friday following the US bank holiday Thanksgiving stands out with its sales promotions and is traditionally the start of the Christmas season in the USA. Under the banner of Black Friday, retailers in other countries, as well, leverage this day to present special deals. Today, this also works very well in terms of e-commerce – mainly in the consumer segment to date.
But is Black Friday also interesting for B2B customers? Generally speaking, yes – after all, they just as much look forward to better, special shopping conditions. They, too, are people and react to certain triggers: the brain releases dopamine while they take in typical call-outs on the exclusivity of Black Friday sales and promotions. The brain reacts to keywords such as discount, sale, deal, and two for one.
Companies can leverage this insight to profit from targeted B2B Black Friday marketing.
Who can profit from Black Friday – and who cannot?
Black Friday is not suitable for every B2B industry. Marketing for this day makes most sense for retailers within the Fast Moving Consumer Goods (FMCG), fashion and textile, furniture and office equipment or consumer goods sectors. Particularly vendors who supply B2B partners, who, in turn, manufacture goods for private end consumers, have an advantage.
Products which meet a certain need at a certain time are less or not at all suitable for Black Friday. Replacement parts for machines are in this category – hardly anyone will be looking for these on Black Friday, but most likely when they are needed.
The B2B purchasing process is also more complex – a host of people throughout the company have to give their approval. Which is why it is unlikely that all the required B2B managers can take a fast decision on Black Friday.
Is a B2B Black Friday campaign worthwhile or not? To find out the answer, you should take the following points into consideration:
- Does Black Friday fit in with your more overall strategy? The ultimate goal of Black Friday is to increase sales. However, if another KPI is more important for your company, it may be the case that Black Friday deals do not make much sense.
- Can you afford to give a discount on your products? If offering deals on Black Friday has a negative impact on your cash flow, then do not do it.
Do you have the necessary stock and the personnel needed to handle the much higher number of orders? Is your website or e-commerce platform ready to tackle the increase in traffic?
Prepare B2B marketing well for Black Friday
If you have chosen to participate, the tracks have to be set for the right B2B marketing on Black Friday. As many channels as possible should be harnessed for this:
- Personalised emails informing buyers about deals tailored to their purchasing behaviour
- A Black Friday newsletter with detailed information about the best offers, to boost interest
- Social media posts to create excitement in the lead-up to the deals
- A paid advertising campaign targeting the important segments of buyers, to grab attention
Here are some tips:
Provide creative offers
Black Friday deals should go beyond the standard quarterly or monthly discount offers. For the B2B segment, such an offer, however, can cover more than just reduced prices. Retailers can offer an extended warranty for a product, for instance, or sell customers a service to receive a discount on another.
Take several routes for a holistic campaign
Where are the potential customers? Should Black Friday marketing take place both in the shop and online, or just online? This means preparing several assets which vary depending on the channel. At the same time, however, you should ensure that they communicate a uniform message.
Learn from experience
A thorough review of past Black Friday campaigns saves time and lowers your stress level for the next year. The following questions help to learn from past experience for the future:
- When was the best time to launch the marketing campaign?
- Which advertising messages worked the best?
- Which products particularly increased customers’ interest and sales?
Companies which want to be successful on Black Friday, Cyber Monday and similar year by year have to take the time for a quick review. You should analyse the overall performance in the weeks following Black Friday – what worked well, what was poor – in order to be better set up in future.
Monitor the competition
A look outside the box can also be very helpful. Companies should therefore continually monitor the success and failures of the competition – with the aim to gain learnings for your own B2B marketing.