There are easily a dozen events throughout the year that are now used as targeted dates for offering a deal, a discount or a promotion, but as a small business, is it actually worth taking part? From Boxing Day Sales to Easter/springtime, and what seems to be the most popular - Black Friday (swiftly followed by Cyber Monday) there always seems to be a sale on somewhere.
Black Friday originally began as an American event, taking place the day after Thanksgiving, where businesses offer big discounts on their products or services. Here in the UK, this has only really become popular in the last 10-15 years, and boy has it taken the country by storm. It's gone from being a single day to being a weeks-long event; there is now a 'countdown' to the big day, and many companies (I'm looking at you, Amazon!) offering a Black Friday Week!
So many businesses take part in this event; I'm sure it would be easier and quicker to list all the companies NOT taking part than those that are! One business that I know for sure does not have any offers on this Black Friday is mine, Crescent Digital Marketing. As a small business (and one that is not yet even a year old) I made the decision early on to not partake in these events; let me explain why...
I have worked incredibly hard to get to where I am, both in terms of my career as a whole and specifically with this business. I have completed numerous online courses and attended countless webinars, and next year I hope to attend at least three conferences, all with the intention of continuing and expanding my learning. In turn this enhances and develops my skills which directly impacts the quality of the service I deliver to my clients.
I also believe I have set my rates incredibly fairly; whilst I don't work near the minimum wage bracket, I also don't charge as much as my 'competitors' (I don't like to think of them as competition - rather as 'collaborators' or 'fellows', but that's another blog post!).
To me, offering a discount would literally be selling myself short and devaluing my brand. It is also only a short-term way to get clients; it does not help in the long term. If any clients you gain through Black Friday (or any other discount event) only come to you because you're offering a sale, then they're unlikely to stay or return as a client when you revert to normal prices.
There seems to be a lot of pressure to take part in these discount events, especially if you see other people in your industry doing so. I think it's partly down to the 'fear of missing out' (FOMO) and partly because you know there's a chance you might get a new client.
Sometimes, it is a good idea to jump on the bandwagon and take part in trends, but it can also be a good thing to step away from the crowd and do something different. For example, Small Business Saturday celebrates and supports small businesses, without the necessary need to offer a discount. Their campaign is months-long and enables small businesses to showcase their offerings and what makes them different from big brands. Alternatively, you could offer discounts to already loyal customers/clients, to demonstrate how much you value them and appreciate their repeat business.
Each business needs to make the decision to offer discounts for itself, but don't be afraid of NOT taking part; you won't be missing out. I fully believe that, if anything, it strengthens your brand and image and shows you value your worth and time.
What are your thoughts on Black Friday? Do you have any sales on today? I'd love to find out more about other people's opinions.
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