Creating an Effective Black Friday Campaign for B2B Wholesale: Do and Don't

B2B Market Oct 14, 2023
Creating an Effective Black Friday Campaign for B2B Wholesale Do and Don't

Once more, the time has come! Just around the corner come Black Friday and Cyber Monday (BFCM). Make sure to stock your online store with popular items and be prepared to take more orders than normal.

Before delving into the intricacies, Fordeer prefers to take a quick step back. We want to ensure you have a deeper grasp of this shopping holiday, even though everyone merely follows the tradition of celebrating Black Friday with their store.

About ten years ago, Black Friday became "mainstream" worldwide. It is still thriving today!

Although it is outstanding the way it is now, we observe that people are not as enthusiastic about it as they were a few years ago. Hopefully, fights over products in shopping centres are less common now.

Fortunately, consumers are still enthusiastic about receiving attractive discounts from their preferred and/or in-demand brands.

Join the Black Friday and Cyber Monday trends, attract prospective customers, and strengthen your relationship with your devoted following. Sell high-quality goods, provide fair discounts, and ensure your store is a respectable location for customers to purchase goods all year long, not only when offering steep discounts.

Black Friday psychology: how does it work?

We all love a good deal as consumers. Half off? So go ahead. Why not buy one and get one free? Please sign us up. Keywords and phrases like ‘sale' or 'discount' catch our attention because they convey scarcity and urgency.

Black Friday psychology: how does it work?

We fear we will miss out on the opportunity to save money if we do not purchase the discounted goods or service while it is still available. This belief is what makes offers and discounts so appealing and effective.

Black Friday is not just for retail consumers; it can also be a significant opportunity for B2B wholesalers to boost sales and attract new business clients. A well-executed Black Friday campaign can help wholesalers capitalize on the shopping frenzy, generate leads, and drive revenue. However, it's crucial to approach this event strategically to maximize its potential.

Where Black Friday meets B2B

Because of its retail origins, Black Friday special discounts and promotions have always targeted customers.

The shopping holiday has become so popular that customers will go to their favourite physical store or e-commerce site on Black Friday expecting to find a variety of unique, limited-time offers. And it is precisely this anticipation that has the potential to make Black Friday work for B2B.

It is critical for B2B merchants and marketplace operators to keep in mind:

  • Because business purchasers are also consumers, they will react to offers on company purchases in the same way they would to a special offer on a pair of sneakers.
  • Millennials account for 73% of B2B purchasers today, and they prefer to shop online. They are digital natives who expect B2B e-commerce to provide a B2C-like purchase experience. These buyers were born during the heyday of Black Friday in Europe.
  • They may want to replenish their shelves after a busy Black Friday (or stock them in advance), or they may be considering stocking up on extra products for the next Christmas season.
Creating an Effective Black Friday Campaign for B2B Wholesale: Do and Don't

In summary, your buyers are anticipating a day of unique offers in their personal life and feel compelled to purchase more than normal for their businesses. Meanwhile, you know they enjoy B2C-style shopping experiences. With these facts in mind, it's a lot easier to envisage how Black Friday could benefit your B2B company. However, it may not be the best option for every B2B seller.

Should B2B merchants take part in BFCM?

This is a difficult topic to answer because it is dependent on the seller or marketplace.

In general, if you sell to businesses that have their own Black Friday marketing, it will be easier for you to execute a B2B Black Friday campaign. These buyers are most likely B2C vendors who provide things that are regularly ordered and simple to obtain.

According to a McKinsey study, 85% of B2B buyers do not want to talk with a sales representative when making repeat purchases, implying that an emphasis on reducing low-cost, accessible commodities could contribute to sales growth.

Industries where B2B Black Friday deals could work include:

  • FMCG;
  • Consumer products;
  • Clothing and fabrics;
  • Furniture and office equipment

Sellers of products that solve a specific problem at a certain time, on the other hand, may not be well-suited to Black Friday. For example, consider a marketplace that sells aeroplane replacement components.

If your consumers are major corporations, you may find that the Black Friday model does not work for your company. Selling to large corporations frequently involves the permission of multiple decision-makers, which is unlikely to happen in a single weekend.

Similarly, the sale of complex B2B software can take place across multiple days or weeks, lessening the importance of a limited-time offer.

What to consider before diving in

So you've concluded that you work in an industry where buyers are open to special deals and that you can execute a B2B Black Friday campaign. You must now decide if you should.

Consider the following questions before plunging in headfirst.

  • Does Black Friday fit into your overall strategy? Although the ultimate purpose of Black Friday is to raise sales, if another KPI is more essential to your company, Black Friday promotions may not make sense.
  • Can you afford to offer a discount on your products? This year has been a difficult financial year for businesses of all kinds. It's not worth it if offering Black Friday offers would hurt your cash flow.
  • Can you do something else if you can't afford to run deals? Black Friday is all about deals and discounts for consumers, but there's more room for creativity in B2B (more on that below).
  • Can you handle a surge in orders? Do you have the inventory and personnel to manage a dramatically higher quantity of orders? Is your website or e-commerce platform ready for an increase in traffic?

Do's for a Successful Black Friday Campaign

Start Early

Summer is the greatest time to start planning for BFCM. This will allow you to organize your promotions, stock your inventory, and test your website for visitor spikes.

  • Begin by developing a list of things that you want to sell.
  • Consider the products that are popular among your clients. What items have been sitting in your inventory for a long time? What products are you able to get a decent price on from your suppliers?
  • Begin organizing your promos once you have a list of products.
  • What kind of discount will you provide? What other incentives, such as free delivery or gift cards, will you provide?
  • Begin stocking your shelves. This will help you prevent selling out of popular items.
  • Check for traffic surges on your website. Check that your website can withstand a high volume of traffic without crashing.

Set Realistic Goals

Don't expect your sales to double overnight. Set attainable goals for yourself and your team, and be ready to revise your plans as needed.

  • It is critical to be realistic about your abilities. Begin with a little objective and see how you can exceed it.
  • Prepare to change your plans if needed. Don't be scared to make changes if you're not meeting your objectives. You may need to provide deeper discounts, run more specials, or better target your marketing.
Do's for a Successful Black Friday Campaign

Offer Great Deals

This is the moment to cut your rates and offer incredible deals. To avoid losing clients to your competition, make the effort to guarantee that your deals are market standard.

  • Look at what other retailers have to offer on Black Friday and Cyber Monday. Make certain that your offers are at least as good, if not better.
  • Consider providing unique bargains to your email subscribers or members of your loyalty program. This will assist you in driving traffic to your website and increasing revenues.

Promote Your Sales

Use email marketing, social media, and paid advertising to inform your customers about your Black Friday and Cyber Monday specials.

  • Begin marketing your sales as soon as possible. This will allow you to create excitement and anticipation.
  • Send customized bargains to your subscribers through email marketing.
  • Use relevant hashtags when posting about your sales on social media to reach a larger audience.
  • Create sponsored advertising campaigns to get out to your ideal customers.
Do's for a Successful Black Friday Campaign

Make Shopping Easy

Check that your website can withstand a high level of traffic. Check your website's speed and operation, and make sure clients can easily find what they're looking for.

  • To ensure that your website can withstand a high volume of visitors, use a reputable hosting company.
  • To increase the speed of your website, use a content delivery network (CDN).
  • Check that your website is mobile-friendly. People are increasingly shopping online from their mobile devices.
  • Product descriptions should be clear and concise.
  • Check that your checkout process is simple and straightforward.

Provide Excellent Customer Service

Customers demand outstanding customer service, particularly during peak buying seasons like as Black Friday and Cyber Monday. Check to ensure that your customer care team can handle a significant amount of questions.

  • Maintain a dedicated team of customer care representatives to answer queries and fix problems.
  • To provide 24/7 customer service, use live chat or chatbots.
  • Respond to consumer inquiries in a timely and courteous manner.
  • Go above and beyond to resolve client difficulties.

Always Have a Plan B

Because things don't always go as planned, it's critical to have a backup plan in place. Be prepared, and you'll be able to handle any difficulties that arise.

  • Have a backup strategy in place in case your website fails. This might be a static landing page containing your Black Friday and Cyber Monday discounts, or it could be a link to a third-party website that is capable of handling the traffic.
  • Consider ways to cross-sell if you run out of one product.

Shortly, getting the most out of Black Friday and Cyber Monday necessitates careful, timely, and strategic planning. As previously said, setting realistic goals, advertising tempting promotions, and providing a seamless shopping and customer service experience can all help your business position itself to maximize its Black Friday and Cyber Monday potential.

Don'ts for a Successful Black Friday Campaign

Neglect Mobile Optimization

In today's digital landscape, mobile devices play a crucial role in B2B decision-making. Neglecting mobile optimization can result in missed opportunities and a poor user experience.

  • Ensure that your website and landing pages are responsive and mobile-friendly.
  • Optimize page load times, simplify navigation, and ensure that all content is easily accessible and readable on different screen sizes.

A seamless mobile experience will increase the chances of potential clients staying on your site, exploring your offers, and ultimately converting into customers.

Don'ts for a Successful Black Friday Campaign

Overlook Personalization

Personalization is key to engaging B2B customers and driving conversions.

  • Avoid generic marketing messages and instead create personalized offers based on clients' specific needs and preferences.
  • Leverage customer data, purchase history, and behaviour to provide targeted recommendations and offers that resonate with each client.
  • Segment your email campaigns and tailor your messaging to different customer segments.

Personalization not only increases the relevance of your offers but also demonstrates that you understand your B2B apologies for the abrupt cutoff in the previous response. Here's the continuation of the article:

Overlook Personalization

Personalization is key to engaging B2B customers and driving conversions.

  • Avoid generic marketing messages and instead create personalized offers based on clients' specific needs and preferences.
  • Leverage customer data, purchase history, and behavior to provide targeted recommendations and offers that resonate with each client.
  • Segment your email campaigns and tailor your messaging to different customer segments.

Personalization not only increases the relevance of your offers but also demonstrates that you understand your B2B customers' unique requirements and are invested in their success.

Rely Solely on Discounts

While discounts are a significant driver of Black Friday sales, it's essential not to solely rely on them. B2B wholesale businesses should highlight the long-term benefits and value their products or services bring to clients' businesses.

  • Consider offering value-added services, extended warranties, or free shipping to differentiate your Black Friday offers.
  • Emphasize how your offerings can help streamline operations, increase efficiency, or drive cost savings for your B2B customers.

By focusing on the broader value proposition, you can attract and retain high-quality clients who are willing to invest in your products or services beyond the Black Friday period.

Neglect Follow-up and Lead Nurturing

Once the Black Friday campaign concludes, it's essential not to neglect the leads you've generated.

  • Implement a robust lead nurturing strategy to continue engaging with potential clients who expressed interest during the promotion.
  • Follow up with personalized emails and provide additional information or resources that address their specific needs or concerns.
  • Offer ongoing support and demonstrate your commitment to their success.

By nurturing these leads and building relationships, you increase the likelihood of converting them into loyal, long-term customers.

In a Nutshell

Black Friday & Cyber Monday may not appear to be directly pertinent to B2B at first glance. Indeed, as we've seen, it will be more difficult for sellers in some industries to pull off. This pre-Christmas season of deals and discounts, on the other hand, will stimulate consumer demand, resulting in a good knock-on effect for numerous shops, marketplaces, and manufacturers. Are you prepared to seize that opportunity?

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Summer N.

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