November 12, 2024 • 31 mins
Ready to make this Black Friday your most profitable yet? Join me as we dive into 12 powerful strategies that will set your business apart during this high-stakes shopping season! We’ll cover fresh trends, like early deals, time-sensitive bonuses, and flexible payment options, plus how to navigate rising costs and economic shifts.
This episode is your ultimate guide to maximizing Black Friday sales—don’t miss it!
RESOURCES MENTIONED
🔗Experian Article: https://www.experian.com/blogs/marketing-forward/black-friday-trends-2024/
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
Welcome to the Business Launch Podcast.
I'm your host, kimberly, annJimenez and familia.
In this episode we are going totalk about Black Friday, what
you can expect, what are some ofthe trends, the things that are
like coming up this season andI got a bunch of data.
I'm going to pull up somepretty interesting data
(00:21):
analytics why consumer behavioris up.
Interesting data analytics whyconsumer behavior is up.
Uh, just so much happening thisweek with the election and also
coming into black friday season, holiday season q4.
We're gonna close eight strongand listen, even if you are not,
if even if you're one of thosepeople who are like I just want
to be chilling with my family onblack friday, I hear you.
(00:41):
I hear you.
I still have a really greatstrategy for you to implement
regardless.
So we're going to talk aboutholiday promotions, what you
could do pre post Black Friday,going into the new year.
It's going to be awesome.
Let's get into it.
Speaker 2 (01:03):
Welcome to the Business Lounge Podcast, where
each week, we unpack the hottestonline marketing and business
strategies so you can grow yourbusiness, increase your bottom
line and make a bigger impact.
And now here's your host,kimberly Ann Jimenez all right.
Speaker 1 (01:32):
So, first of all, we got to address the elephant in
the room yes, trump won theelections.
There's so much that ishappening this this week and, um
, we are going to chris and Iare working, actually, on a
podcast episode coming up foryou guys on how we're preparing
our businesses for what is tocome.
So, listen, I know that there'sa few of you who are really
upset about the election results, but there's a lot of us who
(01:57):
you know are part of thiscommunity, who understand the
economic predictions and whythis is actually a really
amazing opportunity for smallbusiness owners, and so, whether
you, you know, are on the campof like being super upset about
what happened, or you areabsolutely celebrating and just
sighing a relief in this season,I just want you to know we love
(02:20):
you.
This is a podcast that is stillfor you.
We're still rooting for you,whether you voted like us or not
, and we're still going to keepchampioning small businesses.
We're going to keep championingindependence.
We're going to keep championingfreedom.
We're going to keep equippingyou with strategies, with
amazing new ideas, withresources so that you can up
(02:41):
level your business, crush itwith content and build an
incredible income.
That is what we're all about inthe show, and so I just want
you to know that I got so manybeautiful messages from you guys
over the last week on Instagram, just celebrating, excited
about what's to come, justbreathing a sigh of relief
(03:02):
because our economy is inshambles it really is.
We have a very, very tough roadahead about what's to come,
just breathing a sigh of reliefbecause our economy is in
shambles it really is.
We have a very, very tough roadahead and there is a few
hateful, very hateful commentsto messages that came through.
But listen, I love you Like I'msorry.
I'm still here for you.
I love you.
I'm encouraging you to continuebuilding your business and
growing a highly successfulcompany, no matter what happens
(03:24):
in elections, no matter whathappens, you know, in politics.
At the end of today, god is incontrol and we are.
We should be all together,whether you voted one way or the
other, empowered and excited tokeep moving forward to build
our businesses.
It's interesting because bothsides should be focused on one
thing building a resilientbusiness in this season.
(03:48):
It just that's what it's about.
Like, it's about independence,it's about protecting your
individual interests andfiguring out how to move forward
with courage and withresilience.
So let's get into today,because we have so many things
to share and it's veryinteresting.
I'm actually pulling an articlefrom Experian here.
(04:09):
As you know, experian has abunch of interesting data that
they collect with consumerbehavior.
Of course, they have like afront, you know, site view of
what's happening, at least inthe credit card world, right,
which is how most transactionsare done now, and so there's
(04:31):
some really interestingforecasts that they're making
for this upcoming Black Friday.
Now, we have talked in the pastand we're going to continue
talking about, like unpacking,why the online economy is so
freaking strong and why,regardless of how you are
building your business, you needto be tapping online.
I know, I know, I know there'sa big push right now.
We're going to talk more aboutthat later, about going back to
(04:53):
in person, and we're here for it.
We actually are hosting ourfirst in-person event next year
for our tbl plus and tblcoaching one-on-one clients.
It's gonna be amazing, and sowe're absolutely adapting our
offers to hit the trends.
But, regardless in person atleast when it comes to online,
business has a limit of scale.
(05:13):
Right, has a limit of scale.
There's a cap on how much youcan service beyond yourself, and
so, having been in an offlinebusiness where we had to, at one
point, over 300 seasonalemployees, I can say Experian.
Experian is saying that it wasreally interesting because,
(05:46):
despite slower spending lastyear, right from 2022 to 2023,
we saw a 7.5% increase ine-commerce sales, with a record
of $9.8 billion spent online andthe most substantial growth of
in-store traffic in recent years, up by 4.6% from the previous
(06:09):
year.
Shopify even reported a recordin 2023 for Black Friday sales
numbers, offline and online,reaching $4.1 billion, with a
lot of spending across personalcare, clothing, jewelry, shoes
and decor.
Around 75% of those salesoccurred on a mobile, actual
(06:32):
device and 25% occurred ondesktop.
So listen, guys, there is noexcuse, right?
We have no excuse to excel thisyear when it comes to Black
Friday, when it comes to holidaypromotions, and even if you're
in the camp of people because Ido hear this every time I just
I'm not into Black Friday, Idon't believe in consumerism.
(06:53):
I want to be, you know, chillwith my family and I'm like,
okay, all right, but understandthat you're missing out on the
biggest holiday sales event ofthe entire year.
It's totally up to you to notparticipate.
I'm all for that.
But be strategic in how youposition it, because, at the end
(07:14):
of the day, there's not a lotthat you need to do to have a
Black Friday promotion.
You can send a couple emails,have a good discount code,
schedule them in advance, youknow, and just kind of chill
there's that that is definitelya possibility.
And there's also this idea thatBlack Friday has to be this
full-blown launch with the tonof hustle.
No, it doesn't have to be.
(07:35):
You could do something verysimple, very basic and still
cash in on an amazing holidayevent.
And so, at a time wherebusinesses especially online,
you know are seeing massiveshifts with AI, are seeing
massive shifts with the adoptionof kind of like especially if
you sell courses or membershipsthe adoption of done for you or
(07:56):
done with you there's a lot thathas shifted and we are in a
place where economically, atleast in the United States,
we're not in a strong position,and so sometimes we have to get
outside of our comfort zone anddo what needs to be done.
Ok, we are strong, resiliententrepreneurs and at times, you
(08:20):
know, maybe, like a few yearsago, you could have said I'm
going to skip Black Friday.
Should you really skip it thisyear you know it's a few years
ago you could have said I'mgoing to skip Black Friday.
Should you really skip it thisyear?
You know it's totally up to you.
I'm not going to shame you orguilt you into anything, but if
your bank account could use aboost, if you could use, you
know, some extra cash forholiday gifts for Christmas, you
know, for Thanksgiving if youcould use an extra couple
(08:43):
thousand dollars to stow away orinvest or even just, you know,
have for a rainy day fund, do it.
There is nothing wrong withbeing a part of Black Friday,
and I kind of just want todemystify this culture,
especially as women, thatselling things and being upfront
about what you offer is tabooor weird or icky.
(09:04):
You know, I think I'm one ofthe few people in the online
space who has always run a BlackFriday sale, a holiday
promotion.
It is one of the biggestpromotions of the year for us.
It does exceptionally well andwe don't have to kill ourselves
in order to actually create it.
So I'm going to break down alittle bit of our strategy with
you so that you can steal it.
(09:26):
But I just want to normalizeselling things.
You know retailers sell thingsevery single day.
Why is it that, as serviceproviders, as course creators,
as membership owners, as onlinebusiness owners, we're like, oh,
I don't know about that.
It's like, no, let's do thething.
I get it.
A lot of girls in the onlinespace don't do it, but I happen
(09:46):
to be a little bit moreaggressive.
I think I was also mentored alot by men who gave me the
courage to be like just go do it, whereas girls we tend to be
like, oh, I don't know, I don'twant to bother people, and in
reality, they're probablywanting to see something from
you.
It's really interesting becausethis last promotion that we
(10:09):
wrapped up for the businesslounge, we had like record
amount of traffic on our salespages and it was so incredible
to see, like, wow, like there'smore interest, there's more
excitement, there's more energy,um, for what we're doing now
than ever before, because Ithink people are starting to
realize that you can't just playon the internet for fun, like
you got to actually make moneyas part of your content strategy
(10:32):
.
You need to have a realbusiness.
You need to actually, um, youknow, build a ton of value and
take care of your people andbuild something real, and I am
so here for it.
I've never been more excitedthan in this season.
I'm just like, let's go.
I am so ready for people towake up and realize like, okay,
(10:53):
I need to take my moneyseriously, I need to get my
finances seriously, I need tofigure out how to make this work
, and so we've been teaching andpreaching this for over a
decade now and I'm just soexcited for it.
So how do you actually build asuccessful holiday promotion or
Black Friday promotion?
I'm preaching this for over adecade now and I'm just so
excited for it.
So how do you actually build asuccessful holiday promotion or
Black Friday promotion?
I'm going to give you a coupleof different options here,
because there's a lot to talkabout.
Number one it's really, reallyawesome that we get to pick and
(11:17):
choose, and so one of my mentorsused to say this listen, you
get to pick your suck, okay, andyou can pick your suck in every
situation.
That's the beauty of havingfree will and having freedom you
can pick your suck.
And so for you, if you're justlike, listen, I'm going to pick
the suck of not making a ton ofmoney in Q4, but I'm going to
come in and I'm going to openthe year with a bang Okay,
(11:39):
awesome, that's a really goodidea, right, have a new year
sort of promotion instead of aBlack Friday promotion Sweet,
that's one option you could go.
You could also say I'm going todo a Black Friday promotion and
I'm going to do, like, aChristmas sale or a holiday sale
.
You could do that as well.
So you could say I'm going todo.
You know, back to back, I'mgoing to do maybe Black Friday,
(12:00):
cyber Monday and then rightbefore Christmas maybe like a
week or two before Christmas I'mgoing to open a third sale.
I have done that.
That is too much for me.
Okay, I'll be super honest.
We do Black Friday and we doCyber Monday.
We might do a January sale thisyear because I have something
really exciting going on thatwe're going to be releasing
brand new.
(12:20):
I'll tell you about it in alittle bit.
But I put a lot of energy andeffort into Black Friday and
Cyber Monday.
If I'm not going to do aChristmas sale, right, I'm not
going to do a holiday sale.
Now you could say I'm going toskip all of that and I'm going
to do no Black Friday, no CyberMonday, but I am going to do a
holiday sale, I'm going to do aChristmas sale, I'm going to
(12:42):
chill during Thanksgiving andthen come Christmas, boom.
That's what I'm going to do.
And so if you have a physicalproduct business, if you have a
service-based business, if youhave a course business, a
membership business, there'stons of different ways in which
you can adapt any of these salesevents to serve your business,
all right.
So now that you know, like thefour different opportunities
(13:04):
that you have coming up.
You can decide okay, what areyou going to do for one or two
or three or none of them, likeif you want to skip it all
together, you can do that too.
But get a strategy like writeit down, figure out what is it
that you're going to be sharing,and then pull out your calendar
and figure out what are thedates right, when are you going
(13:25):
to start?
One of the big trends that we'reseeing with Black Friday right
now is and we've been seeingthis just really I know I get it
Every year it starts earlierand earlier, but consumers are
responding to starting earlywith Black Friday.
I think that they want to beable to chill during
Thanksgiving weekend and nothave to stress out about missing
on a deal, and so we're goingto be opening up.
(13:48):
Last year was the first year weopened up our Black Friday
promotion on my birthday, whichis November 14th, so we started
really early last year and we'rethinking about starting early
this year too.
But it's one of those thingswhere you could choose right how
long do you want to do it?
In prior years, I'd alreadyalways started my Black Friday
promotion the night ofThanksgiving.
(14:08):
So it's like that Thursdaynight and then it went all the
way through to Sunday and thenwe had Cyber Monday on the
following Monday and thatallowed me to kind of have a
little bit more time to prepare.
But again, it's one of thosethings where you want to figure
out what makes the most sensefor you and your individual
process.
(14:29):
Now you wanna pull up thatcalendar and mark off the dates.
When are you gonna be promotingyour Bug Friday promotion?
When are you gonna do yourChristmas or your holiday
promotion?
When are you gonna do your NewYear's promotion?
Block out some time.
And I highly recommend that yourpromotions are at least three
(14:49):
days long.
Usually three to five days is areally good timeframe, unless
you're starting and opening upsomething like Black Friday
early.
Then you can experiment withhaving it be a little longer.
If you're going to have it be alittle longer, you want to make
sure that you have incentivesin between so that the promotion
does not lag.
So, for example, for us, we goin and we actually have some
(15:12):
cool bonuses that expire, youknow, in between those days, so
that even though the promotionis a little bit longer, we're
not like continuing to say thesame message over and over again
buy my thing, right.
It's like no, we have this coolbonus.
If you buy it now, you canactually get that extra bonus.
It expires, it goes away andthen another bonus comes up,
right, and so that keeps themomentum going in your
(15:35):
promotions so that it's notultra boring if you are going to
have that extended timeframe.
And I'm actually going to pullup some data from Experian where
it talks specifically aboutstarting that promotion a little
bit earlier.
So trends that we can expect tosee in 2024 with Black Friday,
mobile shopping will continueits growth trajectory.
(15:57):
Of course people want to be ontheir phone.
Number two, consumers will keepseeking early deals.
Okay, that's really importantto know.
Next, marketers will preparepromotion sooner than ever.
Yep, hence why I'm doing thispodcast.
And then the next one is reallyinteresting to you guys.
Flexible payment arrangementslike buy now, pay later, will
(16:18):
drive conversions and continuedinflation, or sorry, amid
continued inflation, exactly.
So people have less money intheir pocket right now, um,
understandably.
So you know.
We're just not in a good placeeconomically.
So thinking about how can youextend, um, multiple payment
options is really really smart.
We'll talk a little bit moreabout that.
(16:39):
But back to how you're going tobe establishing the length of
time when it opens and closes.
Don't overthink it too much.
Just circle a couple dates andthen be prepared to send emails
to your list.
Promote it on social media.
If you have a text list,awesome.
Do that too and get cranking.
It doesn't have to becomplicated.
Now you might be thinking okay,well, what are some of the ways
(17:02):
in which I could maybe positionsomething creatively and offer
some cool Black Friday ideas?
So here are a couple of thoseideas.
Number one you could offerearly bird specials.
Like you'd have some reallycool extra gifts.
You could have a great discount.
You could have a bundle thatyou're putting together.
This is really great,especially if you have a lot of
(17:25):
digital products.
Like maybe you have a courseand you could pull a couple
lessons from there that standalone and bundle those.
Maybe you have a bunch oftemplates that you could put
together and make it really easyfor people to implement the
things that you teach.
You could also have a specialworkshop that you deliver after
the promotion.
So if you have nothing rightnow, you could absolutely just
(17:48):
do a Black Friday special.
Take everyone's payments, makeit very clear on your emails and
if you have a sales page onyour sales page that you're
going to be delivering thatworkshop on a specific date and
that could be a live workshop.
It could be, you know, aprerecorded one.
You could also sell an audit ifyou have services, right?
(18:09):
A lot of people ask me, like,what do I do?
I don't want to discount myservices.
You shouldn't, you should neverdiscount your services because
they are, you know, your timehas a lot of value associated to
it.
So one of the things you coulddo is you could sell an audit.
You could do is you could sellan audit.
You could do reviews.
You could actually get a groupof people together and do a Q&A
(18:32):
session.
You could do some live reviews,especially if you have
something like you sell websitedesign or you are an SEO
specialist or you are a socialmedia manager.
This is really cool stuff where, like you can essentially
create it as a event wherepeople are essentially paying
(18:54):
for your time all together, likethey're spreading the cost of
your time across multipledifferent seats, and then you
can go in and have them, youknow, present your website, you
can make recommendations totheir site and, like, everyone's
learning together, right, sothat's an awesome.
Other idea If you have aphysical product business, you
could do a buy one, get one,right.
(19:15):
Bogos are very attractive.
You could also do like a giftwith purchase.
If you're going to do a giftwith purchase, it needs to be
something really awesome.
Remember buyers in the blackfriday, specifically in the
black friday mindset they'relooking for like amazing slashed
prices and so a lot of, butretailers can't offer that
(19:37):
anymore.
I don't know if you guys havenoticed that where, like, the
deals are just not as good asthey used to be in stores, and
that has to do with profitmargin Right.
Cost of everything is up acrossthe board.
I think we're going to see alot of that come down with the
new administration that's comingin.
But gas is up, manufacturingproduct cost is up, raw material
(19:58):
cost is up, and so, because ofgas being up, transportation
costs are going to be muchhigher.
I know that's come down alittle bit more, as it always
does when we mirror electioncycles, because apparently
politicians think that we can bemanipulated easily, and so
that's kind of part of it.
But overall inflation is realright.
(20:19):
We're seeing like 30% groceryprices, you know, go up and it's
just been absolutely nuts.
And so, across the board withmanufacturing, you're going to
see, you know, shrinkflationcome in.
A lot of manufacturers aremanufacturing cheaper products
so that they can compete in themarket, and so they can't slash
prices as much as they used to.
(20:41):
At least that's my perspective.
I could be wrong about that,but from speaking with a lot of
people who are in the retailspace, that seems to be the
biggest issue.
And so, if you are in that spacetoo and you're in retail, think
about how you can get creative.
Right, you could do gift withpurchase.
You could do free shipping, youcould do, um, you know, mystery
(21:02):
boxes of extra.
If you have extra inventory,that's a really cool thing to
think about.
Just get creative with it,rather than, if you can't offer
an awesome discount and that'swhat the mindset people have is
position it in a way that it'sstill really attractive.
Now, for those of you who arein the online space, this is
where you can really reallystand out, because your profit
(21:26):
margin is usually much higher.
This is where you could do apre-order discount, like if
you're thinking about launchingsomething new, like we are,
we're actually launching a.
I just can't wait to tell youabout it.
It's going to be awesome.
We're launching a low ticketsubscription very soon,
literally on the back of BlackFriday this year, and one of the
things that we're doing iswe're offering a pre-order
(21:47):
discount.
So essentially, we're going tobe giving people 50% off their
first month, and it's going tobe super amazing because they
get to not just like get anearly bird discount where
essentially their foundingmember or a family, I guess it's
not a member, it's a foundingsubscriber and by doing that,
they're actually going to get,uh, grandfathered into the
(22:10):
pricing because they joined us,you know right at the beginning,
and they're also going to getan extra 50% off for their first
month.
So that's where you could getreally strategic For us.
Every single year, we put outour content marketing bundle.
It's the ultimate contentmarketing bundle.
We do it every single year.
It's awesome, and we put insome of the freshest, newest
(22:33):
trainings that we have for theyear, and I handpick some
trainings from both TBL Plus,our group coaching tier, as well
as the business lounge where wedo our monthly live workshops,
and so I'll pull a couple ofthose trainings.
Give people like a 98% discount, bundle them with done for you.
(22:53):
Templates and resources have acouple bonuses.
That is all stuff I've alreadycreated.
Right, it's all stuff from thisyear.
I'm not doing anything new,except for one of the bonuses is
going to be new Belle is ouramazing content manager.
She has a really cool Instagramtemplate that she's going to be
releasing.
But other than that, it's allgoing to be stuff that we
(23:17):
already have, that we've alreadycreated, that has already been
proven.
People absolutely loved itinside of our paid membership,
and now we're going to bediscounting it.
Give people access to thattraining, help them understand
what it's like to be in thebusiness lounge and then
hopefully get them excited aboutjoining us next year when we
open up the doors to thattraining.
(23:37):
So it's kind of a win-winsituation where we get to have
like hundreds of orders duringBlack Friday.
Especially for people who, likethey can't necessarily swing
the investment to join us in thebusiness lounge, this is a
really good place for them toget like a taste.
It happens once a year.
We never, ever, ever discountlike we do on Black Friday, and
(23:58):
every single year our bundle isdifferent, and so that's part of
what you could do, and if youdon't have a lot of things, like
maybe you're not as active aswe are.
Maybe you have like a coursethat's kind of one and done,
whereas you know we're literallydoing two live workshops every
single month, not even countingnew tutorials and trainings that
we're putting in the businesslounge.
(24:20):
We have a lot of content that weproduce that's paid over the
course of a year, but if youdon't have that, then you can
get creative.
Right, you could just, like Imentioned earlier, pull a couple
trainings, maybe createsomething new, maybe test out a
new offer, like we are.
We're doing this on the backend um of our black friday
promotion, so you're not goingto get access to it unless you
(24:40):
actually buy our black fridaybundle.
We're wanting to test it with,like, our best customers first,
but at beta test it and thenwe'll release it into the world
at a higher price point, and soit's one of those things where,
like, there's a lot of reallycool things that you could do
when you get kind of creativewith it.
Now, if you don't have anythinglike that, you don't have time.
(25:01):
Another great thing is just givepeople a really awesome
discount, maybe like a 40 or 50%discount to some of your
templates you could also do.
If you've done some coachingcalls with clients, you could
show people behind the scenes ofwhat that's like if you're
actually selling expertise.
If you have digital products,you could also think about doing
(25:27):
just like you would a mysterybox in the physical world.
You could do like, hey, here'sa mystery box that's going to be
delivered to your inbox withall of our best templates of the
year.
Right, and then give people agreat discount.
Boom and you're done.
The offer needs to be somethingthat people love, that is
highly discounted and that youdon't have to put a ton of time
(25:48):
and energy into creating.
That's the magic of blackfriday.
That's where you actually getto monetize on something that
you have been building on forthe whole year, like we have, or
something that takes you a lotless time to come up with but is
still valuable and amazing.
Now, hear me, I am not sayingput trash out.
I'm not saying, you know,because people are not going to
(26:09):
buy from you next year, so don'tdo that.
Make sure that what you'reselling is high quality, that
it's going to be somethingexciting, that people can
continue buying from you nextyear or move into the next tier
of your services or products.
So if you want a PDF of all ofthese 12 holiday promotion ideas
(26:29):
, just to have it handy, maybeprint it out, maybe you have it
on your desk to get somemotivation for getting your blog
Friday promotion ready, all youhave to do is text me the word
holiday Okay, so that's holiday,and you could do that over on
our business, our directbusiness phone line that I'm
(26:50):
constantly talking to you guysabout that's the number is
866-498-2080.
That's 866-498-2080.
That again is the word holiday,and we will send you that PDF
totally free, just to get yourmojo on, get you some of the
(27:11):
creative juices flowing and helpyou come up with a really great
Black Friday promotion.
All right, fam, I hope that youenjoyed this episode.
Again, I'm sending you tons oflove.
Remember, this is the yearwe're gonna get our finances
right.
We're gonna get ourprofitability right.
It's going to happen.
And listen, if you are not yeta part of our newsletter, you
(27:32):
are going to miss out on ourBlack Friday promotion.
Do not miss out on it.
We are launching our ultimateBlack Friday bundle.
It's going to be amazing.
We're going to offer it for thebest value that we have ever
offered it this year.
So make sure that you areenrolled on our newsletter.
You can either join our textlist directly and a lot of you
(27:54):
guys do that by texting the wordKim.
That's K I M.
Two, eight, six, six, four,nine, eight, two, zero, eight,
zero.
That's the easiest way of doingit or just follow the link
below this episode.
It'll take you to my websiteand one of my lead magnets and
you can join our email list thatway.
Don't forget that we havesomething amazing for you.
(28:15):
This Black Friday we're goingto be launching our content club
, which is going to be anawesome subscription.
I actually asked you guys in apoll I've been spending so much
time talking to you guys one onone, but also I sent you a poll,
if you're part of thenewsletter and you're part of
the text list, asking you whatis it that you would want help
(28:35):
with?
And, oh my goodness, did youdeliver?
So we're going to post a pollbelow in case you want to make
your voice known.
It's going to be epic.
I can't wait to tell you alittle bit more about that in
the next episode, but for now,have an amazing Black Friday
promotion.
Put that together.
I'm going to keep encouragingyou.
Don't ever stop tuning into thepodcast, because we have some
(28:57):
amazing new strategies that wewant to share with you to
up-level your content game andyour bottom line.
All right, I love you.
I'll see you in the next one.
Un beso, bye for now.
Welcome to the Business Launch Podcast.
I'm your host, kimberly, annJimenez and familia.
In this episode we are going totalk about Black Friday, what
you can expect, what are some ofthe trends, the things that are
like coming up this season andI got a bunch of data.
I'm going to pull up somepretty interesting data
(00:21):
analytics why consumer behavioris up.
Interesting data analytics whyconsumer behavior is up.
Uh, just so much happening thisweek with the election and also
coming into black friday season, holiday season q4.
We're gonna close eight strongand listen, even if you are not,
if even if you're one of thosepeople who are like I just want
to be chilling with my family onblack friday, I hear you.
(00:41):
I hear you.
I still have a really greatstrategy for you to implement
regardless.
So we're going to talk aboutholiday promotions, what you
could do pre post Black Friday,going into the new year.
It's going to be awesome.
Let's get into it.
Speaker 2 (01:03):
Welcome to the Business Lounge Podcast, where
each week, we unpack the hottestonline marketing and business
strategies so you can grow yourbusiness, increase your bottom
line and make a bigger impact.
And now here's your host,kimberly Ann Jimenez all right.
Speaker 1 (01:32):
So, first of all, we got to address the elephant in
the room yes, trump won theelections.
There's so much that ishappening this this week and, um
, we are going to chris and Iare working, actually, on a
podcast episode coming up foryou guys on how we're preparing
our businesses for what is tocome.
So, listen, I know that there'sa few of you who are really
upset about the election results, but there's a lot of us who
(01:57):
you know are part of thiscommunity, who understand the
economic predictions and whythis is actually a really
amazing opportunity for smallbusiness owners, and so, whether
you, you know, are on the campof like being super upset about
what happened, or you areabsolutely celebrating and just
sighing a relief in this season,I just want you to know we love
(02:20):
you.
This is a podcast that is stillfor you.
We're still rooting for you,whether you voted like us or not
, and we're still going to keepchampioning small businesses.
We're going to keep championingindependence.
We're going to keep championingfreedom.
We're going to keep equippingyou with strategies, with
amazing new ideas, withresources so that you can up
(02:41):
level your business, crush itwith content and build an
incredible income.
That is what we're all about inthe show, and so I just want
you to know that I got so manybeautiful messages from you guys
over the last week on Instagram, just celebrating, excited
about what's to come, justbreathing a sigh of relief
(03:02):
because our economy is inshambles it really is.
We have a very, very tough roadahead about what's to come,
just breathing a sigh of reliefbecause our economy is in
shambles it really is.
We have a very, very tough roadahead and there is a few
hateful, very hateful commentsto messages that came through.
But listen, I love you Like I'msorry.
I'm still here for you.
I love you.
I'm encouraging you to continuebuilding your business and
growing a highly successfulcompany, no matter what happens
(03:24):
in elections, no matter whathappens, you know, in politics.
At the end of today, god is incontrol and we are.
We should be all together,whether you voted one way or the
other, empowered and excited tokeep moving forward to build
our businesses.
It's interesting because bothsides should be focused on one
thing building a resilientbusiness in this season.
(03:48):
It just that's what it's about.
Like, it's about independence,it's about protecting your
individual interests andfiguring out how to move forward
with courage and withresilience.
So let's get into today,because we have so many things
to share and it's veryinteresting.
I'm actually pulling an articlefrom Experian here.
(04:09):
As you know, experian has abunch of interesting data that
they collect with consumerbehavior.
Of course, they have like afront, you know, site view of
what's happening, at least inthe credit card world, right,
which is how most transactionsare done now, and so there's
(04:31):
some really interestingforecasts that they're making
for this upcoming Black Friday.
Now, we have talked in the pastand we're going to continue
talking about, like unpacking,why the online economy is so
freaking strong and why,regardless of how you are
building your business, you needto be tapping online.
I know, I know, I know there'sa big push right now.
We're going to talk more aboutthat later, about going back to
(04:53):
in person, and we're here for it.
We actually are hosting ourfirst in-person event next year
for our tbl plus and tblcoaching one-on-one clients.
It's gonna be amazing, and sowe're absolutely adapting our
offers to hit the trends.
But, regardless in person atleast when it comes to online,
business has a limit of scale.
(05:13):
Right, has a limit of scale.
There's a cap on how much youcan service beyond yourself, and
so, having been in an offlinebusiness where we had to, at one
point, over 300 seasonalemployees, I can say Experian.
Experian is saying that it wasreally interesting because,
(05:46):
despite slower spending lastyear, right from 2022 to 2023,
we saw a 7.5% increase ine-commerce sales, with a record
of $9.8 billion spent online andthe most substantial growth of
in-store traffic in recent years, up by 4.6% from the previous
(06:09):
year.
Shopify even reported a recordin 2023 for Black Friday sales
numbers, offline and online,reaching $4.1 billion, with a
lot of spending across personalcare, clothing, jewelry, shoes
and decor.
Around 75% of those salesoccurred on a mobile, actual
(06:32):
device and 25% occurred ondesktop.
So listen, guys, there is noexcuse, right?
We have no excuse to excel thisyear when it comes to Black
Friday, when it comes to holidaypromotions, and even if you're
in the camp of people because Ido hear this every time I just
I'm not into Black Friday, Idon't believe in consumerism.
(06:53):
I want to be, you know, chillwith my family and I'm like,
okay, all right, but understandthat you're missing out on the
biggest holiday sales event ofthe entire year.
It's totally up to you to notparticipate.
I'm all for that.
But be strategic in how youposition it, because, at the end
(07:14):
of the day, there's not a lotthat you need to do to have a
Black Friday promotion.
You can send a couple emails,have a good discount code,
schedule them in advance, youknow, and just kind of chill
there's that that is definitelya possibility.
And there's also this idea thatBlack Friday has to be this
full-blown launch with the tonof hustle.
No, it doesn't have to be.
(07:35):
You could do something verysimple, very basic and still
cash in on an amazing holidayevent.
And so, at a time wherebusinesses especially online,
you know are seeing massiveshifts with AI, are seeing
massive shifts with the adoptionof kind of like especially if
you sell courses or membershipsthe adoption of done for you or
(07:56):
done with you there's a lot thathas shifted and we are in a
place where economically, atleast in the United States,
we're not in a strong position,and so sometimes we have to get
outside of our comfort zone anddo what needs to be done.
Ok, we are strong, resiliententrepreneurs and at times, you
(08:20):
know, maybe, like a few yearsago, you could have said I'm
going to skip Black Friday.
Should you really skip it thisyear you know it's a few years
ago you could have said I'mgoing to skip Black Friday.
Should you really skip it thisyear?
You know it's totally up to you.
I'm not going to shame you orguilt you into anything, but if
your bank account could use aboost, if you could use, you
know, some extra cash forholiday gifts for Christmas, you
know, for Thanksgiving if youcould use an extra couple
(08:43):
thousand dollars to stow away orinvest or even just, you know,
have for a rainy day fund, do it.
There is nothing wrong withbeing a part of Black Friday,
and I kind of just want todemystify this culture,
especially as women, thatselling things and being upfront
about what you offer is tabooor weird or icky.
(09:04):
You know, I think I'm one ofthe few people in the online
space who has always run a BlackFriday sale, a holiday
promotion.
It is one of the biggestpromotions of the year for us.
It does exceptionally well andwe don't have to kill ourselves
in order to actually create it.
So I'm going to break down alittle bit of our strategy with
you so that you can steal it.
(09:26):
But I just want to normalizeselling things.
You know retailers sell thingsevery single day.
Why is it that, as serviceproviders, as course creators,
as membership owners, as onlinebusiness owners, we're like, oh,
I don't know about that.
It's like, no, let's do thething.
I get it.
A lot of girls in the onlinespace don't do it, but I happen
(09:46):
to be a little bit moreaggressive.
I think I was also mentored alot by men who gave me the
courage to be like just go do it, whereas girls we tend to be
like, oh, I don't know, I don'twant to bother people, and in
reality, they're probablywanting to see something from
you.
It's really interesting becausethis last promotion that we
(10:09):
wrapped up for the businesslounge, we had like record
amount of traffic on our salespages and it was so incredible
to see, like, wow, like there'smore interest, there's more
excitement, there's more energy,um, for what we're doing now
than ever before, because Ithink people are starting to
realize that you can't just playon the internet for fun, like
you got to actually make moneyas part of your content strategy
(10:32):
.
You need to have a realbusiness.
You need to actually, um, youknow, build a ton of value and
take care of your people andbuild something real, and I am
so here for it.
I've never been more excitedthan in this season.
I'm just like, let's go.
I am so ready for people towake up and realize like, okay,
(10:53):
I need to take my moneyseriously, I need to get my
finances seriously, I need tofigure out how to make this work
, and so we've been teaching andpreaching this for over a
decade now and I'm just soexcited for it.
So how do you actually build asuccessful holiday promotion or
Black Friday promotion?
I'm preaching this for over adecade now and I'm just so
excited for it.
So how do you actually build asuccessful holiday promotion or
Black Friday promotion?
I'm going to give you a coupleof different options here,
because there's a lot to talkabout.
Number one it's really, reallyawesome that we get to pick and
(11:17):
choose, and so one of my mentorsused to say this listen, you
get to pick your suck, okay, andyou can pick your suck in every
situation.
That's the beauty of havingfree will and having freedom you
can pick your suck.
And so for you, if you're justlike, listen, I'm going to pick
the suck of not making a ton ofmoney in Q4, but I'm going to
come in and I'm going to openthe year with a bang Okay,
(11:39):
awesome, that's a really goodidea, right, have a new year
sort of promotion instead of aBlack Friday promotion Sweet,
that's one option you could go.
You could also say I'm going todo a Black Friday promotion and
I'm going to do, like, aChristmas sale or a holiday sale
.
You could do that as well.
So you could say I'm going todo.
You know, back to back, I'mgoing to do maybe Black Friday,
(12:00):
cyber Monday and then rightbefore Christmas maybe like a
week or two before Christmas I'mgoing to open a third sale.
I have done that.
That is too much for me.
Okay, I'll be super honest.
We do Black Friday and we doCyber Monday.
We might do a January sale thisyear because I have something
really exciting going on thatwe're going to be releasing
brand new.
(12:20):
I'll tell you about it in alittle bit.
But I put a lot of energy andeffort into Black Friday and
Cyber Monday.
If I'm not going to do aChristmas sale, right, I'm not
going to do a holiday sale.
Now you could say I'm going toskip all of that and I'm going
to do no Black Friday, no CyberMonday, but I am going to do a
holiday sale, I'm going to do aChristmas sale, I'm going to
(12:42):
chill during Thanksgiving andthen come Christmas, boom.
That's what I'm going to do.
And so if you have a physicalproduct business, if you have a
service-based business, if youhave a course business, a
membership business, there'stons of different ways in which
you can adapt any of these salesevents to serve your business,
all right.
So now that you know, like thefour different opportunities
(13:04):
that you have coming up.
You can decide okay, what areyou going to do for one or two
or three or none of them, likeif you want to skip it all
together, you can do that too.
But get a strategy like writeit down, figure out what is it
that you're going to be sharing,and then pull out your calendar
and figure out what are thedates right, when are you going
(13:25):
to start?
One of the big trends that we'reseeing with Black Friday right
now is and we've been seeingthis just really I know I get it
Every year it starts earlierand earlier, but consumers are
responding to starting earlywith Black Friday.
I think that they want to beable to chill during
Thanksgiving weekend and nothave to stress out about missing
on a deal, and so we're goingto be opening up.
(13:48):
Last year was the first year weopened up our Black Friday
promotion on my birthday, whichis November 14th, so we started
really early last year and we'rethinking about starting early
this year too.
But it's one of those thingswhere you could choose right how
long do you want to do it?
In prior years, I'd alreadyalways started my Black Friday
promotion the night ofThanksgiving.
(14:08):
So it's like that Thursdaynight and then it went all the
way through to Sunday and thenwe had Cyber Monday on the
following Monday and thatallowed me to kind of have a
little bit more time to prepare.
But again, it's one of thosethings where you want to figure
out what makes the most sensefor you and your individual
process.
(14:29):
Now you wanna pull up thatcalendar and mark off the dates.
When are you gonna be promotingyour Bug Friday promotion?
When are you gonna do yourChristmas or your holiday
promotion?
When are you gonna do your NewYear's promotion?
Block out some time.
And I highly recommend that yourpromotions are at least three
(14:49):
days long.
Usually three to five days is areally good timeframe, unless
you're starting and opening upsomething like Black Friday
early.
Then you can experiment withhaving it be a little longer.
If you're going to have it be alittle longer, you want to make
sure that you have incentivesin between so that the promotion
does not lag.
So, for example, for us, we goin and we actually have some
(15:12):
cool bonuses that expire, youknow, in between those days, so
that even though the promotionis a little bit longer, we're
not like continuing to say thesame message over and over again
buy my thing, right.
It's like no, we have this coolbonus.
If you buy it now, you canactually get that extra bonus.
It expires, it goes away andthen another bonus comes up,
right, and so that keeps themomentum going in your
(15:35):
promotions so that it's notultra boring if you are going to
have that extended timeframe.
And I'm actually going to pullup some data from Experian where
it talks specifically aboutstarting that promotion a little
bit earlier.
So trends that we can expect tosee in 2024 with Black Friday,
mobile shopping will continueits growth trajectory.
(15:57):
Of course people want to be ontheir phone.
Number two, consumers will keepseeking early deals.
Okay, that's really importantto know.
Next, marketers will preparepromotion sooner than ever.
Yep, hence why I'm doing thispodcast.
And then the next one is reallyinteresting to you guys.
Flexible payment arrangementslike buy now, pay later, will
(16:18):
drive conversions and continuedinflation, or sorry, amid
continued inflation, exactly.
So people have less money intheir pocket right now, um,
understandably.
So you know.
We're just not in a good placeeconomically.
So thinking about how can youextend, um, multiple payment
options is really really smart.
We'll talk a little bit moreabout that.
(16:39):
But back to how you're going tobe establishing the length of
time when it opens and closes.
Don't overthink it too much.
Just circle a couple dates andthen be prepared to send emails
to your list.
Promote it on social media.
If you have a text list,awesome.
Do that too and get cranking.
It doesn't have to becomplicated.
Now you might be thinking okay,well, what are some of the ways
(17:02):
in which I could maybe positionsomething creatively and offer
some cool Black Friday ideas?
So here are a couple of thoseideas.
Number one you could offerearly bird specials.
Like you'd have some reallycool extra gifts.
You could have a great discount.
You could have a bundle thatyou're putting together.
This is really great,especially if you have a lot of
(17:25):
digital products.
Like maybe you have a courseand you could pull a couple
lessons from there that standalone and bundle those.
Maybe you have a bunch oftemplates that you could put
together and make it really easyfor people to implement the
things that you teach.
You could also have a specialworkshop that you deliver after
the promotion.
So if you have nothing rightnow, you could absolutely just
(17:48):
do a Black Friday special.
Take everyone's payments, makeit very clear on your emails and
if you have a sales page onyour sales page that you're
going to be delivering thatworkshop on a specific date and
that could be a live workshop.
It could be, you know, aprerecorded one.
You could also sell an audit ifyou have services, right?
(18:09):
A lot of people ask me, like,what do I do?
I don't want to discount myservices.
You shouldn't, you should neverdiscount your services because
they are, you know, your timehas a lot of value associated to
it.
So one of the things you coulddo is you could sell an audit.
You could do is you could sellan audit.
You could do reviews.
You could actually get a groupof people together and do a Q&A
(18:32):
session.
You could do some live reviews,especially if you have
something like you sell websitedesign or you are an SEO
specialist or you are a socialmedia manager.
This is really cool stuff where, like you can essentially
create it as a event wherepeople are essentially paying
(18:54):
for your time all together, likethey're spreading the cost of
your time across multipledifferent seats, and then you
can go in and have them, youknow, present your website, you
can make recommendations totheir site and, like, everyone's
learning together, right, sothat's an awesome.
Other idea If you have aphysical product business, you
could do a buy one, get one,right.
(19:15):
Bogos are very attractive.
You could also do like a giftwith purchase.
If you're going to do a giftwith purchase, it needs to be
something really awesome.
Remember buyers in the blackfriday, specifically in the
black friday mindset they'relooking for like amazing slashed
prices and so a lot of, butretailers can't offer that
(19:37):
anymore.
I don't know if you guys havenoticed that where, like, the
deals are just not as good asthey used to be in stores, and
that has to do with profitmargin Right.
Cost of everything is up acrossthe board.
I think we're going to see alot of that come down with the
new administration that's comingin.
But gas is up, manufacturingproduct cost is up, raw material
(19:58):
cost is up, and so, because ofgas being up, transportation
costs are going to be muchhigher.
I know that's come down alittle bit more, as it always
does when we mirror electioncycles, because apparently
politicians think that we can bemanipulated easily, and so
that's kind of part of it.
But overall inflation is realright.
(20:19):
We're seeing like 30% groceryprices, you know, go up and it's
just been absolutely nuts.
And so, across the board withmanufacturing, you're going to
see, you know, shrinkflationcome in.
A lot of manufacturers aremanufacturing cheaper products
so that they can compete in themarket, and so they can't slash
prices as much as they used to.
(20:41):
At least that's my perspective.
I could be wrong about that,but from speaking with a lot of
people who are in the retailspace, that seems to be the
biggest issue.
And so, if you are in that spacetoo and you're in retail, think
about how you can get creative.
Right, you could do gift withpurchase.
You could do free shipping, youcould do, um, you know, mystery
(21:02):
boxes of extra.
If you have extra inventory,that's a really cool thing to
think about.
Just get creative with it,rather than, if you can't offer
an awesome discount and that'swhat the mindset people have is
position it in a way that it'sstill really attractive.
Now, for those of you who arein the online space, this is
where you can really reallystand out, because your profit
(21:26):
margin is usually much higher.
This is where you could do apre-order discount, like if
you're thinking about launchingsomething new, like we are,
we're actually launching a.
I just can't wait to tell youabout it.
It's going to be awesome.
We're launching a low ticketsubscription very soon,
literally on the back of BlackFriday this year, and one of the
things that we're doing iswe're offering a pre-order
(21:47):
discount.
So essentially, we're going tobe giving people 50% off their
first month, and it's going tobe super amazing because they
get to not just like get anearly bird discount where
essentially their foundingmember or a family, I guess it's
not a member, it's a foundingsubscriber and by doing that,
they're actually going to get,uh, grandfathered into the
(22:10):
pricing because they joined us,you know right at the beginning,
and they're also going to getan extra 50% off for their first
month.
So that's where you could getreally strategic For us.
Every single year, we put outour content marketing bundle.
It's the ultimate contentmarketing bundle.
We do it every single year.
It's awesome, and we put insome of the freshest, newest
(22:33):
trainings that we have for theyear, and I handpick some
trainings from both TBL Plus,our group coaching tier, as well
as the business lounge where wedo our monthly live workshops,
and so I'll pull a couple ofthose trainings.
Give people like a 98% discount, bundle them with done for you.
(22:53):
Templates and resources have acouple bonuses.
That is all stuff I've alreadycreated.
Right, it's all stuff from thisyear.
I'm not doing anything new,except for one of the bonuses is
going to be new Belle is ouramazing content manager.
She has a really cool Instagramtemplate that she's going to be
releasing.
But other than that, it's allgoing to be stuff that we
(23:17):
already have, that we've alreadycreated, that has already been
proven.
People absolutely loved itinside of our paid membership,
and now we're going to bediscounting it.
Give people access to thattraining, help them understand
what it's like to be in thebusiness lounge and then
hopefully get them excited aboutjoining us next year when we
open up the doors to thattraining.
(23:37):
So it's kind of a win-winsituation where we get to have
like hundreds of orders duringBlack Friday.
Especially for people who, likethey can't necessarily swing
the investment to join us in thebusiness lounge, this is a
really good place for them toget like a taste.
It happens once a year.
We never, ever, ever discountlike we do on Black Friday, and
(23:58):
every single year our bundle isdifferent, and so that's part of
what you could do, and if youdon't have a lot of things, like
maybe you're not as active aswe are.
Maybe you have like a coursethat's kind of one and done,
whereas you know we're literallydoing two live workshops every
single month, not even countingnew tutorials and trainings that
we're putting in the businesslounge.
(24:20):
We have a lot of content that weproduce that's paid over the
course of a year, but if youdon't have that, then you can
get creative.
Right, you could just, like Imentioned earlier, pull a couple
trainings, maybe createsomething new, maybe test out a
new offer, like we are.
We're doing this on the backend um of our black friday
promotion, so you're not goingto get access to it unless you
(24:40):
actually buy our black fridaybundle.
We're wanting to test it with,like, our best customers first,
but at beta test it and thenwe'll release it into the world
at a higher price point, and soit's one of those things where,
like, there's a lot of reallycool things that you could do
when you get kind of creativewith it.
Now, if you don't have anythinglike that, you don't have time.
(25:01):
Another great thing is just givepeople a really awesome
discount, maybe like a 40 or 50%discount to some of your
templates you could also do.
If you've done some coachingcalls with clients, you could
show people behind the scenes ofwhat that's like if you're
actually selling expertise.
If you have digital products,you could also think about doing
(25:27):
just like you would a mysterybox in the physical world.
You could do like, hey, here'sa mystery box that's going to be
delivered to your inbox withall of our best templates of the
year.
Right, and then give people agreat discount.
Boom and you're done.
The offer needs to be somethingthat people love, that is
highly discounted and that youdon't have to put a ton of time
(25:48):
and energy into creating.
That's the magic of blackfriday.
That's where you actually getto monetize on something that
you have been building on forthe whole year, like we have, or
something that takes you a lotless time to come up with but is
still valuable and amazing.
Now, hear me, I am not sayingput trash out.
I'm not saying, you know,because people are not going to
(26:09):
buy from you next year, so don'tdo that.
Make sure that what you'reselling is high quality, that
it's going to be somethingexciting, that people can
continue buying from you nextyear or move into the next tier
of your services or products.
So if you want a PDF of all ofthese 12 holiday promotion ideas
(26:29):
, just to have it handy, maybeprint it out, maybe you have it
on your desk to get somemotivation for getting your blog
Friday promotion ready, all youhave to do is text me the word
holiday Okay, so that's holiday,and you could do that over on
our business, our directbusiness phone line that I'm
(26:50):
constantly talking to you guysabout that's the number is
866-498-2080.
That's 866-498-2080.
That again is the word holiday,and we will send you that PDF
totally free, just to get yourmojo on, get you some of the
(27:11):
creative juices flowing and helpyou come up with a really great
Black Friday promotion.
All right, fam, I hope that youenjoyed this episode.
Again, I'm sending you tons oflove.
Remember, this is the yearwe're gonna get our finances
right.
We're gonna get ourprofitability right.
It's going to happen.
And listen, if you are not yeta part of our newsletter, you
(27:32):
are going to miss out on ourBlack Friday promotion.
Do not miss out on it.
We are launching our ultimateBlack Friday bundle.
It's going to be amazing.
We're going to offer it for thebest value that we have ever
offered it this year.
So make sure that you areenrolled on our newsletter.
You can either join our textlist directly and a lot of you
(27:54):
guys do that by texting the wordKim.
That's K I M.
Two, eight, six, six, four,nine, eight, two, zero, eight,
zero.
That's the easiest way of doingit or just follow the link
below this episode.
It'll take you to my websiteand one of my lead magnets and
you can join our email list thatway.
Don't forget that we havesomething amazing for you.
(28:15):
This Black Friday we're goingto be launching our content club
, which is going to be anawesome subscription.
I actually asked you guys in apoll I've been spending so much
time talking to you guys one onone, but also I sent you a poll,
if you're part of thenewsletter and you're part of
the text list, asking you whatis it that you would want help
(28:35):
with?
And, oh my goodness, did youdeliver?
So we're going to post a pollbelow in case you want to make
your voice known.
It's going to be epic.
I can't wait to tell you alittle bit more about that in
the next episode, but for now,have an amazing Black Friday
promotion.
Put that together.
I'm going to keep encouragingyou.
Don't ever stop tuning into thepodcast, because we have some
(28:57):
amazing new strategies that wewant to share with you to
up-level your content game andyour bottom line.
All right, I love you.
I'll see you in the next one.
Un beso, bye for now.
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