Christmas is coming, but first comes “Black Friday,” which even in the era of ecommerce and online retailers – not to mention Amazon Prime Day – remains the busiest shopping day of the year. This is the traditional start to the holiday season, and retailers offer some of the most attractive holiday deals.
You can’t help but notice the buzz that has built for several weeks about the possibility of deals the Friday after Thanksgiving. These deals may be rare due to the supply chain issues this year. This is why social media can be crucial in finding the lowest prices this year.
Dr. P.K. stated that social media has been increasingly used by businesses. This is especially true for those who are focusing on Gen-Z and millennial customers. They use this type of media the most. Kannan, Dean’s chair in marketing science at University of Maryland Robert H. Smith School of Business.
Kannan said that gift products, electronics and apparel are all likely to feature heavily in social media. This makes #blackfridaydeals a great medium for searching. These channels should feature any product targeted to these audiences.
Furthermore, the holiday is not only for Black Friday. It will also be valid throughout the four-day holiday weekend as well as into Cyber Monday next Monday.
According to Dr. Dustin York (associate professor of communication, Maryville University), “Retailers, large and small, understand the impact of social media.” Consider turning on notification notifications to your favourite stores via Facebook, Instagram, or Twitter, since retailers might release discounts throughout the day. It’s easier to find deals from these stores on social media than anywhere else.
While Black Friday existed long before the Internet was around, Small Business Saturday – which is now only in its 11th year – was truly born in the social media era. American Express created it in collaboration with the National Trust for Historic Preservation. It has been widely promoted via platforms like Facebook since its creation.
While some people may still remember the Yellow Pages’ suggestion to “let your fingers do all the walking”, it is more popular today for your thumbs to do the search. Shoppers can support local merchants as well as smaller retailers around the country by looking for the hashtags #smallbusinesssaturday and #smallbizsaturday.
York stated that local retailers should use Small Business Saturday to increase their power in local searches. Local businesses are promoted by social media and Google search algorithms, therefore digital must be an important factor for business owners. Remember, a majority of local searches online end in a sale – no better day to benefit than Small Business Saturday.”
This holds true especially for younger shoppers.
Kannan stated that small businesses are very effective in targeting customers and converting them on social media. If the product is targeted to Gen-Z and millennial customers, this will be especially true. You can target your customers precisely through social media using their psychographic profile and behavior. This results in highly targeted targeting. Display and video ads can convert with low acquisition costs.
Kannan said that the other benefit of social media is its serendipity in becoming viral hits. According to Kannan, “Gen-Z is more likely to trust their peers than they are advertising pitches. If a small business item becomes viral, this can result in a huge increase in sales. Small businesses should use social media regularly and on Small Business Saturday.
You can be an influencer
For small retailers and brands, a social media influencer could have big results – especially in the run-up to the holidays.
“Social media can be a powerful way for entrepreneurs to profit from the biggest shopping weeks of the year,” Dr. Yuvay Ferguson, Ph.D. assistant dean of Impact and Engagement and professor in School of Business at Howard University.
Ferguson said that although Influencer Marketing can seem intimidating to small-business owners, the power and reach of social networking has proven effective in getting your company seen by potential customers. Don’t be afraid of reaching out to new influencers, even if they don’t have a lot to spend. They may be interested in highlighting brands similar to yours. You can also offer them a coupon code that you could share with their followers. It’s amazing how many people would be open to the idea of your connection. It’s easy to make it a win-win situation by offering a discount or gift certificate for your customers.