For decades, at the end of November consumers rejoice at the Black Friday phenomenon. But considering it a B2C event solely is somewhat wrong, in my opinion. There is a lot in it for B2B too, and many companies are losing tons of opportunities by simply missing the hidden ones.
Working for years with B2B companies allowed me to compile a list of ways manufacturers, wholesalers and retailers could gain a lot more with the buildup around Black Friday.
- Fortify your current business relationships. Regardless of your activity type, you can show your clients that you care by offering help to better manage their stocks. For retailers, Black Friday also means empty shelves. If you, as a supplier, come with a solution to support them by refilling these either before or right after the event, you will show that you truly care for the flawlessness of their operating activities, and consolidate the business relationship for the long-run.
- Gain more business partners. The same care can be shown to companies you’re not working with yet. Again, during the Black Friday period, knowing that there is a plan B is of extreme help, and this is the time you can generate both value and positive image, as well as to grow your sales revenues.
- Deliver your new product on the market. New suppliers or new retailers do not mandatory have to trade the very same products as before. Black Friday can be the perfect opportunity to come up with a new product on the market. Instead of making a sale dedicated to a new product launch, sell it as if it would be a special offer. However, do not understand this as an advice to deceive your clients. Quite the contrary, actually. If you are a producer or wholesaler, you can come up with a value offer for either the time surrounding Black Friday or that immediately after the event. If you are a retailer, you can bring to your point of sale a product that you might have always wanted to try out for your customers. In both cases mentioned, the proposition should be linked to Black Friday, and it will gain a totally new shape among a plethora of standard B2B offers.
- Conquer new locations. Similarly to #3, you can come up with fresh ideas for new markets. Be it a new location where you’ve long been willing to establish your presence on the market, or import products from a certain region or country to please your target audience, Black Friday is the perfect timing for that particular goal. You may either structure your offer based on the sales hype or diminish risks that the product will get stuck on your shelves. It will be a win-win situation in any case.
- Grow your sales revenues. Be it your existing business partners or new ones, local or international transactions, Black Friday is the time to boost the number of your trade operations. To benefit of the event, you as a B2B agent do not have to build your offers about discounts. You have to deliver value and strengthen it by showing that you care about the success of your business partners. If you manage to do that you’ll definitely see your revenues grow, and not on Black Friday only.
- Gain the edge over your competitors. Black Friday should never be about Black Friday only. It is also the time when you should be 100% ready for the holiday shopping season. However, many businesses tie their offers to the latter, ending up in competing with a plethora of other Christmas-wrapped offers. Be smarter than that. You can make the same proposition to your B2B partners, but this time carefully swaddle your business offer with a Black Friday pitch. If you manage to do this right, you’ll definitely stand out from the crowd.
- Keep your messages fresh. It wouldn’t be a surprise if you are already running some campaigns or have ongoing offers. If you simply adjust them in a way that makes them sound and thusly be perceived as new ones, be sure that your business partners will notice the fresh breeze and pay attention to what you have to say.
- Provide value instead of price cuts. For consumers, Black Friday discounts are the main point of the event, hence the practice is more typical for B2C businesses. However, the trend is taken over by B2B, and these companies do offer discounts too. But why ignore the opportunity costs? Instead of decreasing your future revenues you can simply add a feature, service or any other worthwhile garnish to your offer and rewrite your sales pitch accordingly.
- Ride the wave by building the hype. Lots of B2B companies base their offers on seasonal holidays. But there is an easy way to stand out. As B2B Black Friday propositions are less common, while the Christmas-related ones are abundant, you can link your pitch to the former and thusly be quiet different from everybody else.
With not too much time left until the sales season, however, there is an arising issue — how you can complete at least some of the steps fast? For that, you’d demand high-quality data: you’d need lists of potential partners that would meet your possibilities fast and/or comprehensive information about these so that you could build your killer-value proposition in a highly-personalized way and win. But that’s a totally different topic.
Main article: 9 Ways B2B Companies Can Benefit from Black Friday