What is one sign that your small business should take part in Cyber Monday?
To help you decide whether or not your small business should take part in Cyber Monday, we asked C-suite executives and marketing leaders this question for their best insights. From a strong online presence to significant historical data, there are several indications that you should look dor when determining whether to participate in one of the biggest online sale days in the United States.
Here are seven signs your business should take part in Cyber Monday:
- You Have a Strong Online Presence
- You Can Afford to Offer Some Discounts
- Your Competitors Do It
- Your Infrastructure Can Handle High-Volume Sales
- You Need a Windfall
- Customer Asked Questions About It on Social Media
- You Saw Significant Historical Data
You Have a Strong Online Presence
One sign that your small business should take part in Cyber Monday is if you have a strong online presence.
If you have a well-developed website and a social media following, Cyber Monday is a great opportunity to reach a larger audience. If you have a lot of inventory that is appropriate for Cyber Monday sales, it’s a good idea to take part.
You Can Afford to Offer Some Discounts
If you have high operating margins, you can probably afford to offer some discounts. If so, Cyber Monday is a great opportunity to expand your customer base.
You can incentivize your customers to make a purchase by offering a discount or giving away freebies or gifts. You can also create a marketing campaign around Cyber Monday.
This will help you stand out from your competitors and attract new customers. You can use social media to advertise your sale and create contests or giveaways. You can also use email marketing to let your customers know about your sale and the freebies and gifts you’re giving away.
Your Competitors Do It
Sure, it is not about making the same things and duplicating patterns. But, if your competition participates in Cyber Monday, it means they will gain all the recognition from the event when you don’t.
Cyber Monday is the opportunity to be discovered by new audiences that normally wouldn’t bother to find you. The bargain seekers are there for the best deals, and you want to take advantage of them. Even if your sales aren’t out of this world, your brand awareness will increase, which will pay off later.
Your Infrastructure Can Handle High-Volume Sales
Cyber Monday represents an enormous opportunity for increased sales for a tech-related business. IT isn’t something every business can handle. Increased sales mean an increased reliance on your infrastructure. You’ll need to handle the uptick in customer and customer-related issues.
If your business is reliant on shipping products, you need to be ready to handle a sizable increase in your outbound shipping numbers and costs. Cyber Monday will effectively be a stress test on your business’s ability to handle high-volume sales, and if you aren’t ready, you’ll be the one to lose out in the end.
If you don’t think you can handle it, it’s better to just leave things alone. If you’ve comfortably handled this kind of volume before and you’ve made steps to be ready for the unexpected, Cyber Monday may be a golden opportunity.
You Need a Windfall
The major reason for participating in Cyber Monday is to improve sales, and a low sales report shows that your business needs to engage in Cyber Monday.
The business must offer great deals to customers and position itself to handle all the business that you will get over the holiday. The promising holiday sales and good business plan also certify it to get business loans to help it pay for an extensive range of things that it needs to make the business ready for the holiday.
Yongming Song, CEO, Live Polls
Customers Asked Questions About It on Social Media
There have been cases when a DTC company sees postings on social media platforms and takes cues from them. If one or more users are asking, “What deals will you have available for Cyber Monday?” on one of your social media channels, respond and consider it valuable feedback.
Lots of big brands closely monitor their social media channels to make sure that someone promptly addresses customer service complaints and recommendations. That’s the approach you should take.
Cyber Monday is becoming a bigger deal with every ensuing year and people are looking hard for specials. If someone takes the initiative and inquires about it on social media, take that as a sign that you should strategize and come up with a Cyber Monday campaign.
You Saw Significant Historical Data
One sign your small business should take part in Cyber Monday is if you saw a significant increase in online traffic and sales on the Friday or Saturday after Thanksgiving.
Another sign your small business should take part in Cyber Monday is if you’re already seeing a decline in brick-and-mortar traffic and sales. As more and more shoppers move online, it’s important for small businesses.