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How Your Business Can Prepare For Black Friday

In an uncertain post-pandemic climate, consumers need a streamlined payment experience. Eccomerce is rising due to its ubiquitous digital presence. However, traditional holidays like Black Friday often represent a return to the busy high-street and the in-store POS system.

man paying on epos system

Reports imply that consumers are anticipating for the Retail industry to respond to supply chain pressure by generating supplies early for higher demand. While current card-machine technology can create a seamless experience, not understanding your contract can be detrimental for your business.

Everyone wants to be able to sit back and let the technology do half the work, but this is not the case when it comes to hidden costs, faulty tech, and slow transaction speeds. At BMS, we can assure you, you will not have any of these problems. We can provide you with industry leading payments processing technology that does not come with the worry of any hidden costs. Contact us today to see how we can help you.

In a high success economic scenario, larger revenue streams and increased cash flow do not supersede an uncertain contract – made because it was a necessity. In a low success economic scenario, contracts may introduce hidden costs when a certain threshold of revenue is reached. This could damage the reputation of your business and the overall success of anticipating a Black Friday boom. We therefore, recommend you are well prepared by having enough capacity. You want to have extra terminals during this period if your business is expected to be busier. 

Businesses can strategically prepare for Black Friday by implementing the following key steps:

  1. Plan Early: Start planning well in advance to ensure a seamless Black Friday experience. This includes inventory management, staffing, and marketing strategies.

  2. Optimise Online Presence: In the digital age, online presence is crucial. Ensure that your website is ready for increased traffic, optimise it for mobile users, and consider offering online-exclusive deals. Our partner VOVO Digital can help you elevate your online presence.

  3. Promotions and Discounts: Plan attractive promotions and discounts that appeal to your target audience. Consider bundling products, offering limited-time deals, or providing exclusive discounts for loyalty program members.

  4. Social Media Marketing: Leverage social media platforms to create buzz around your Black Friday deals. Use visually appealing graphics, countdowns, and teaser content to generate excitement among your audience.

  5. Email Marketing: Build anticipation by sending out email newsletters with sneak peeks of Black Friday deals. Encourage subscribers to sign up for exclusive early access or special promotions.

  6. Stock and Inventory Management: Ensure that you have sufficient stock to meet the anticipated demand. Monitor your inventory levels closely and restock popular items to avoid disappointment.

  7. Customer Support Readiness: Prepare your customer support team for increased inquiries and potential issues. Provide additional training if necessary, and consider implementing chatbots to handle common queries.

  8. Secure Payment Systems: With a potential surge in transactions, ensure that your payment systems can handle the increased load securely. Test payment gateways and address any potential issues well before Black Friday.

  9. In-Store Experience: If you have physical stores, make sure they are well-staffed, organised, and have clear signage for promotions. Consider offering in-store exclusive deals to drive foot traffic.

  10. Post-Black Friday Follow-up: Plan for post-Black Friday engagement, such as thank-you emails, surveys, and opportunities for customers to share their experiences. This helps build lasting relationships and gathers valuable feedback.

By taking a proactive and strategic approach to these aspects, businesses can position themselves for success during the Black Friday shopping frenzy!

So... What Are You Waiting For?

We want to ensure that your business is running to its highest potential. BMS can help you establish a simple financial process, positively promoting your business cash flow, alongside 24/7 help and other financial products. 

So, what’s stopping you? Contact us today to improve your business and see how much you can save!

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