How Digital Agencies Can Prepare for the Black Friday Frenzy
Since 1869, it’s been undeniable how Black Friday becomes officially enshrined in American culture as the start of the holiday shopping season. From its coinage, ‘Black Friday’ evolved from what it meant as a day of stock market catastrophe to a pop-culture buzzword.
In this SEO Premier blog, we explore the history of Black Friday, its significance, and provide a step-by-step guide on how digital agencies can take advantage of this event to help brands and ultimately to maximise profits!
WHEN BLACK MEANS GOOD
Black Friday used to be reminiscent of a disastrous event on September 24, 1869, when gold speculators attempted to corner the gold market. Unfortunately, the crackdown attempt flopped, thereby causing the US stock market to plummet. Originally, ‘black’ was used to refer to any day that drastically affects the behaviour of the financial market: The Great Depression- for example- started on a Black Tuesday in October 1929. Meanwhile, the most noteworthy one-day drop in US stock market history happened on a Black Monday in October 1987, when the stocks of Dow Jones Industrial Average fell precipitously by more than 20%.
With the turn of the postmodern era, Black Friday has carried an entirely different label. To the brick-and-mortar retail owners, it’s the day that gets them enough sales that will put them “in the black”- an accounting cliché that pertains to the act of auditing losses in red and profits in black. On the other hand, for the millions of American consumers, Black Friday is when the best shopping deals and heavy discounts are availed of at bottom rock prices, usually occurring a day after Thanksgiving.
WHAT BLACK FRIDAY MEANS FOR DIGITAL AGENCIES
Because Black Friday is the biggest shopping event of the year, this presents a massive opportunity for digital marketing agencies to help their clients boost sales and revenue especially in the months where the majority of businesses are profitable. As the holiday season approaches, consumers are eagerly searching and waiting for the best deals and discounts. And to harness the earning potential of businesses, SEO firms and digital marketing agencies need to be prepared, organised, and ready to execute their well-designed campaigns ahead of the frenzy.
HOW CAN DIGITAL AGENCIES TAKE ADVANTAGE OF THIS SEASON
- SET CLEAR OBJECTIVES
The first step in preparing for Black Friday is setting clear and realistic objectives. Agencies need to work closely with their clients to understand their specific goals for the Black Friday season. Objectives can vary, such as increasing website traffic, boosting sales, expanding the customer base, or enhancing brand awareness. These objectives will serve as the foundation for the entire Black Friday strategy.
- CONDUCT RESEARCH AND REVIEW PAST PERFORMANCE
At this point, your agency should analyse your client’s Black Friday performance in the previous years. Reviewing historical data can provide insights into what worked and what didn't. Identify trends, customer behaviour, and successful marketing channels. It also helps to derive insights from your competitors, those that did extremely well in past Black Fridays. What promotions did they run? Which channels did they use? Which campaign elements can you replicate that can work for you in the next Black Friday campaign? What appealing Black Friday offers can you offer this year based on past trends and consumer preferences?
- CREATE CAMPAIGN STRATEGY
This is a whole discussion altogether, but provided you have solid knowledge of the goals and market, you can now create a strong backbone for Black Friday success. Your plan comprises the usual elements of a strategic plan: target audience, channels, content strategy, social media calendar, product activation, and monitoring and execution.
Remember that Black Friday is not just a one-day event; it's an entire shopping season. To make the most out of it, agencies should focus on building hype and anticipation in the weeks leading up to Black Friday. Brace yourself, for brands will flock to your door to ask help to unlock their best earning potential not just for the entire quarter, but perhaps the entire year!