How to Build Black Friday Frenzy into Your Online Business

November 28, 2008 - Written by Gyutae Park  

As you may know, today is Black Friday in the US, usually the busiest retail shopping day of the year where many companies put up exclusive deals and sales. It’s not uncommon to see hordes of people lined up in front of malls and electronics stores to bust through doors and snatch up the latest gadgets and holiday gifts before it’s too late. Last year I experienced the mania first-hand when I camped outside a Circuit City to buy a new LCD HDTV. Sure it was a great deal, but was it really worth it? The line stretched hundreds of feet with crazy people who were willing to pull all-nighters waiting in the freezing cold up until the break of dawn. It was a great experience (although I’d never do it again) but if you think about it, it’s pretty insane. These rabid people wait in line for hours on end, just to save a few bucks on some new toys.

From a business standpoint, an event like this is simply amazing. Customers are basically waiting to hand you money! If you’re smart, you should be analyzing Black Friday deals and look to incorporate the same ideas that will create frenzied customers of your own.

Below are some of the main components of Black Friday shopping that make the event so profitable and successful.

  • Value – Most importantly, what’s the value? Without eye-popping deals that people find worthwhile, no one will show up.
  • Time-limited – Black Friday is just one day a year, so people have to be sure they show up. Otherwise they miss out on all the good deals and savings for the holiday season.
  • Competition – Everyone knows that Black Friday attracts tons of shoppers to all stores. That kind of social proof attracts even more people because people in general are followers.
  • Hype – Advertisers run tons of ads to build up hype and to get people talking about what’s happening on Black Friday. Shopping forums and blogs usually generate a lot of buzz around this time of year.
  • Scarcity – Stores only have so much inventory – which encourages shoppers to get in early and seal the deal.
  • Anticipation – Most stores open earlier on Black Friday to increase sales. Not only that, but advertising launch time and featured deals builds anticipation that will attract customers.
  • Exclusivity – Everyone wants to be “cool” and getting a good deal brings exclusivity to customers. In some cases, my guess is that “leaked ads” are intentional to build exclusivity and anticipation.

Will you be shopping this Black Friday? How can you incorporate the above components into your business to attract rabid buyers to your business?

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Comments

12 Responses to “How to Build Black Friday Frenzy into Your Online Business”

Mike Huang on November 29th, 2008 Subscribed to comments via email

Strategizing is the best thing you can do for Black Friday, but this year was an epic fail 🙁

Max on December 3rd, 2008

Lol… you should have done this post weeks before Black Friday.

I did a blog post about it too here:

http://zedomax.biz/blog/make-money-online/how-to-make-money-online-usi ng-affiliate-programs-during-black-friday-and-holidays/

I made couple hundred off just couple days of prep, not too bad but Christmas, I will be ready as hell. =)

Ben Pei on December 6th, 2008

Lol congratulaton to you..

(Comments wont nest below this level)
 
 
 
ATX on December 1st, 2008

Yes, shopped on Friday, but only online……not worth the brain damage to fight the crowds & traffic.

Build a site that people want to visit, and the black friday success will follow. Don’t build a site specifically for black friday.

 
Ann Arbor Web Design on December 1st, 2008

Black Friday has come and gone! it rather passed me by this year i have to admit.

 
Frank on December 2nd, 2008 Subscribed to comments via email

I consider online business as a high ROI investment for a long time.

 
Nicole Price on December 2nd, 2008

It has come and it has passed. This year, the madness was conspicuous by its absence. I could shop in leisure and comfort.

 
ZK@Internet Marketing Blog on December 2nd, 2008 Subscribed to comments via email

There is no Black Friday concept in Canada , I wonder why ?

 
Max on December 3rd, 2008

Oh yeah, don’t forget Cyber Monday either, it’s pretty cool:

http://google.com/trends?q=cyber+monday

 
blender reviews - mandy on December 3rd, 2008

Yes, but only online, it is just too crazy out there:P Anyway, unless you are selling gifts, toys or electronic stuffs, then you should get ready for black friday, otherwise I see no jump from the sales.

 
promotion on December 5th, 2008 Subscribed to comments via email

welcome to build black friday frenzy into your online business
thank you

 
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