In recent discussions in my Crochet Business Chat Facebook Group, I’ve noticed some negativity surrounding the concept of Black Friday, with some crochet business owners reluctant to offer discounts. However, Black Friday promotions don’t have to feel salesy or devalue your products. As a handmade business owner, you can create offers for black Friday that align with your values, cater to your customers, and boost your profitability without feeling uncomfortable.
Are you ready to harness the power of Black Friday for your handmade business, where you can increase sales, improve your bottom line, and serve your customers all at the same time? In this episode of Crochet Business Chat, we will discuss strategies for a win-win approach to Black Friday that maximizes profits and customer satisfaction.
Let’s dive into the world of Black Friday promotions and strategies that work for all types of handmade businesses, with a specific focus on crochet designers and product sellers.
Offers for Black Friday for Your Crochet Business
Not everyone wants to run sales for Black Friday—and that’s okay! If that’s you, feel free to skip directly to my no-sale Black Friday promo ideas below. However, sales don’t have to feel gross. Use one of these promotional strategies leverage Black Friday excitement and boost sales.
Store-wide Discounts
The traditional Black Friday approach involves offering a store-wide discount, like 30% off everything in your shop. While this approach can attract more customers, it may affect your profit margins. It’s essential to ensure that your business is financially equipped to handle such discounts without significant losses.
Product-Specific Discounts
An alternative to store-wide discounts is to selectively discount specific products. Identify items that aren’t selling well, need to be highlighted, or haven’t received the attention they deserve. Offering discounts on these products creates a sense of urgency and can help clear out inventory.
Clearance Sell-Offs
Consider clearing out old inventory with a clearance sell-off. It’s an excellent option for products that haven’t sold throughout the year or have been in your inventory for an extended period. While this may involve significant discounts, it helps free up space and resources for new products.
Free Shipping Promotions
Free shipping promotions can entice customers to make a purchase. You can offer free shipping on orders over a specific amount, such as $35. Ensure that your shipping costs don’t eat into your profits when implementing this strategy.
Beyond Discounts: No-Sale Offers for Black Friday
For those who don’t want to give discounts, there are still lots of creative ideas to build excitement around your business heading into the holiday season.
Product Bundles
Product bundles work well, especially for pattern designers. Create bundles that include several patterns at a slightly lower cost than purchasing them individually. This not only increases sales but also provides value to your customers.
Limited Edition Products
Introduce limited edition products exclusively for Black Friday. These products create a sense of urgency, and customers will anticipate their release every year. You can take pre-orders to ensure you meet the demand without overproducing.
Limited Edition Events and Collaborations
Collaborate with other makers to create limited edition bundles or events. Anyone who makes a purchase on a certain day receives an invite to an exclusive event where they can come and spend time with you. These could be spa bundles, crochet-alongs, or masterclasses available only during Black Friday. The exclusivity of these offerings can generate excitement.
Free Gift with Purchase
Offer a free gift with purchase to incentivize customers. For instance, include a small pattern as a gift with a pattern purchase. This doesn’t have to devalue your products, as it’s an extra token of appreciation for your customers.
Giveaways
Hold a giveaway for Black Friday customers. You could give away a product, a limited edition item, or even a special experience, like a masterclass or event ticket. Customers making a purchase during this time frame can enter the giveaway.
Charitable Contributions
Consider donating a portion of your Black Friday proceeds to a charity you support. Highlight this in your promotions to show your commitment to giving back. It’s a way to make your Black Friday event more meaningful. For example, throughout the year, Crochetpreneur supports The Exodus Road in their efforts to end human trafficking. We will be boosting our giving during the Black Friday period.
Pam’s Black Friday Strategy for 2023
At Crochetpreneur, we’re going to offer Five Days of Deals. We’ll introduce a new deal each day that’s available for 24 hours, creating variability and excitement over time. The offers will encompass a wide variety of products at different price points to reach a wide range of our customer base. So keep an eye out for this fun week of deals during Thanksgiving week!
Conclusion
Black Friday doesn’t have to be daunting or solely focused on discounting. With these creative strategies, you can make your Black Friday event exciting, profitable, and enjoyable for both you and your customers. By offering a variety of promotions, providing value, and aligning your business with your values, you can harness the power of Black Friday while building a loyal customer base. Remember, it’s all about creating a win-win situation for everyone involved. Get ready for a successful and fulfilling Black Friday for your handmade business!
