Preparing Your Business for Black Friday and Cyber Monday
When we think of Black Friday shopping, we think of early mornings, long lines, crowded stores, and wearing sweat pants from the thanksgiving meal the night before. In today’s environment nearly everything about Black Friday simply is no longer kosher, and small and mid-sized businesses are being forced to yet again pivot their businesses. Like many families and businesses, our team at Evolve Payment is seeing changes happening around us, but our services are designed to provide support during these situations.
During the early 2000’s, we all had our favorite Thanksgiving and Black Friday shopping rituals. Some families loved waking up, getting their favorite pumpkin spice lattes, and standing in line all before the sun shines. Others used opportunities like online shopping and Cyber Monday to find their holiday deals while staying in their cranberry jelly stained sweatpants. As we are all aware, some of our favorite parts of the holiday season will be noticeably different this year, but there will be one thing that remains the same; people are going to make online purchases using their debit and credit cards.
With so much competition between businesses on Black Friday and Cyber Monday, you need to provide a smooth and easy purchasing process. Evolve Payment is here to make that happen. We help businesses provide a great online shopping experience and ensure your accounts receivables expenses are optimized.
Learn how B2C and B2B businesses need to prepare differently for Black Friday.
B2C Selling Online
What are some of the ways business-to-consumer (B2C) businesses can pivot to keep their customers safety in mind and their wallets in check? Our team has seen great success by helping clients quickly sell new products, including updating ecommerce product pages, to increase sales.
For example, a client that sells musician instrument cases for professional artists and high school students started to invent and manufacture instrument covers and masks in response to the pandemic.
The company came to Evolve Payment because they needed to update their products on their website and optimize their shopping experience. The result was an improved buying process and exposure in the press for their products. Sales skyrocketed. Employees were kept on staff and customers were able to receive their products all because of the pivot to sell items online.
Now with Black Friday quickly approaching, our client is using the software technology to retarget the customers who have already purchased items and sending them a promo code for repeat business. When we think of B2C, online shopping experiences, we think of the phrase, “It’s easier to sell something to someone who has already purchased something from you”. This statement remains true to this day with online shopping. Try to think about the last time you reached out to your customers? Did they like your product? If so, they will more than likely purchase from you again or send your website link to their friends.
B2B Merchant Processing
Hearing about B2C companies’ successes for holiday shopping is wonderful, but if you are in the business-to-business space (B2B) you are well aware that it’s much harder to have your customers make larger purchases or enter new contracts when they are more focused on their families, not their businesses at the end of the year.
With the events of 2020, we recognize that every penny counts and one of the largest expenses that B2B companies take on is their merchant services fees. Since people are focused on finding good deals on gifts, a gift you can give your business is a free merchant service analysis. This can help identify where and how to decrease fees therefore increasing your total savings year over year. Improving your merchant processing is not a one-time gift, but a benefit that keeps on giving from year to year.
At the end of the day, Black Friday will not be the same as before. It will be a challenge to make sure your business can handle the influx of online shoppers while making sure that you are not being taken advantage of with credit card processing fees. Our team is here to help you keep your money in your pocket so you can have peace of mind.
If you are interested in learning how we can collaborate to optimize your online shopping experience and merchant services fees, reach out to us and one of our team members will be in touch shortly.
Thank you, and happy (early) holidays!