You’ve got shopping to get to so we’ll save you some time. It depends. There’s your answer, because isn’t it always. Seriously though, most companies will throw together some kind of Black Friday deal because ’it’s just what you do,’ when they should really be asking why should I be doing this.
When contemplating a Black Friday deal you need to look at your current brand identity and ideal consumer. If your company is already known for having awesome promotions throughout the year then you’d be a fool not to have some massive Black Friday blowout because you’ve already conditioned your consumers to expect it. Another type of company who might benefit from a deal on the biggest shopping day of the year is one that offers experiential products or services with a high barrier to entry (we’re talking dolla dolla bills y’all). Let’s take beauty services for example. If you offer an approachable yet elevated experience complete with custom check-in, complementary libations, a tranquil ambiance and an elevated price tag to round it out, it might be worthwhile to give a small deal so that those customers who are dissuaded by price might be willing to try. Ideally the experience will be so memorable that they want to come back again. You’re essentially giving them a look behind the curtain and then daring them to do it again — but at full price.
You know us, this wouldn’t be FIG University if we didn’t give you both sides of the coin; and unfortunately not every company should be getting in on that Black Friday Frenzy. Take companies like Apple and Chanel, do we see them chiming in with their door-busters? Nope! And for good reason. Their brands lean heavily on exclusivity. While exclusivity isn’t the only trait that should make you think twice about Black Friday, it is one of the easiest to understand. Exclusive means that not everyone can have it, so why would you open the flood gates once a year? It goes against everything you stand for.
At the end of the day, the intersection of Black Friday and branding comes back to knowing what you want to convey to your consumers and staying consistent with the identity you’ve created. If you want to talk one-on-one with us about your brand identity give us a call.
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