Capitalise On Black Friday In Your Equine Business
If you’ve not decided yet on how to capitalise on one of the busiest shopping days of the year to promote your equine business, here’s 5 easy promotional ideas for Black Friday Sales, with some of the pros and cons of each. Although it’s product based businesses like saddleries that tend to focus on Black Friday deals, there’s no reason why almost all of these ideas can’t be adapted for a service business like a horse physio or riding instructor.
1. HOST A VIP SALE
Run a sale that‘s only available to people on your email list giving them access to a hidden sales section on your site or an exclusive discount coupon.
+ Rewards loyalty & encourages repeat purchases
+ Doesn’t prevent new customers purchasing at full price
+ Keeps an exclusive up–market feel rather than supermarket style price slashing
+ Can be used to build your email list in the weeks preceding the sale
– Reduces your potential customer base for the sale
2. PRICE DISCOUNTING
+ Very attractive to consumers
+ Can be staggered with the best discounts available early (e.g. 50% off midnight- 6am, 40% off 6am – 11am etc) to encourage fast purchase decisions
– Can eat into profit margins. If you cut prices by 10% you typically need to sell at least 20% more to make the same overall profit.
3. OFFER FREE PRODUCTS
e.g. spend over £39 and receive a free bag of horse treats worth £4.99
+ Can have a high perceived value to the consumer without costing you too much
+ Great for increasing the average order value in your store
+ Ideal way to move slow lines or old stock
– Can be logistically challenging if your website software doesn’t have the ability to automatically run this offer
– Requires careful prediction of stock required for the freebie or you risk disappointing customers
4. FREE POSTAGE
+ Very simple to administer & can encourage existing customers to shop with you again
– Unlikely to make much impact amongst the heavy discounting of other retailers on Black Friday
5. GIFT VOUCHERS
e.g spend over £50 and get a £10 gift voucher
+ Applies the discount to a future order so preserves margin on the first order whilst encouraging re–orders.
– Labour intensive to administer the vouchers
2017 KEY DATES:
BLACK FRIDAY – 24th November
CYBER MONDAY – 27th November
Founder, Equine Business Association
Christina is the founder of the Equine Business Association. As MD of Blacktype Digital, a digital marketing agency she's the geekiest horse person you're likely to come across. She's been in the horse business for over 15 years and also has business interests in equine media, ecommerce and wholesale. A dressage addict, she spends her time outside of work slaving for her two british bred sport horses.