Post by santohasan45 on Feb 15, 2024 1:13:21 GMT -5
- advice from experts Mykola Vyhovskyi , Yantos marketing strategist Brands definitely shouldn't lie on Black Friday. Drawing out the "old" crossed out prices and putting new "discounted" ones next to them is complete rubbish. In my opinion, Black Friday, as an information occasion, is far from suitable for everyone. Selling a product with a 10% margin and a 5% discount is not the same as selling a product with a 100% margin and a 50% discount.
After all, the key emotional role is played by the size of the discount, this is exactly how customers perceive it. Agree, 5% on the background of 50% looks like a waste, not a gift. Let's also take into account the invisible side of Black Friday - the technical side. In addition to marketing Bulgaria Phone Number List and sales departments, it may involve financial, warehouse, and logistics departments. At the moment, maximum team synchronicity and efficiency are needed, combined with the reliability of software complexes: CRM, cash terminals, accounting accounting programs, etc.
This is where the biggest risk lies. The first example that comes to mind is an error in the automated pricing system of the global giant Walmart, which happened not so long ago, on Black Friday 2018. Then, the same huge discount was automatically applied to a huge number of products. Threatened with a reputational blow, Walmart was forced to recognize all purchases as valid, resulting in a decent loss. And this is far from the only example.
After all, the key emotional role is played by the size of the discount, this is exactly how customers perceive it. Agree, 5% on the background of 50% looks like a waste, not a gift. Let's also take into account the invisible side of Black Friday - the technical side. In addition to marketing Bulgaria Phone Number List and sales departments, it may involve financial, warehouse, and logistics departments. At the moment, maximum team synchronicity and efficiency are needed, combined with the reliability of software complexes: CRM, cash terminals, accounting accounting programs, etc.
This is where the biggest risk lies. The first example that comes to mind is an error in the automated pricing system of the global giant Walmart, which happened not so long ago, on Black Friday 2018. Then, the same huge discount was automatically applied to a huge number of products. Threatened with a reputational blow, Walmart was forced to recognize all purchases as valid, resulting in a decent loss. And this is far from the only example.