Black Friday Edition: Expert Tips for Building an Omnichannel Strategy for SMEs

Black Friday is a massive opportunity for big brands, but it’s just as important for small and medium-sized enterprises (SMEs). With the right omnichannel strategy for Black Friday, you can level the playing field and compete effectively. The key lies in delivering a consistent experience across all customer touchpoints, from online platforms to physical stores. By aligning efforts, you can attract more shoppers, increase sales, and build customer loyalty. In this article, we’ll share expert tips specifically crafted for SMEs like you to help them create an omnichannel strategy that drives results during the Black Friday rush.

Highlights

• Black Friday offers SMEs a key chance to increase sales and expand their customer base.
• SMEs face challenges like limited resources and managing multiple sales channels when building an omnichannel strategy.
• SMEs excel in personalized service, local presence, and flexible shopping options, giving them an edge over larger retailers.

Impacts of Black Friday on SMEs Sales

Black Friday presents SMEs like you with a unique chance to capture more market share. For a more clear look, let’s look at some key statistics from last Black Friday:

• $70.9 billion in global online sales, marking an 8% increase year-over-year (YoY). (Salesforce)
• 6.3% YoY growth in online retail sales across the holiday season, with an additional 2.2% increase in in-store sales. (Mastercard)
• 90 million people shopped online in the US during Black Friday 2023, with 64% of customers planning to shop online in 2024. (Tidio)
• 76.2 million in-store shoppers in the US, up 4.5% from 2022, making Black Friday the year’s most popular shopping day. (Tidio)
• The average consumer spent $321.41 across the Cyber Five (Thanksgiving to Cyber Monday) in 2023. (NRF)

These figures highlight just how crucial Black Friday is for driving sales. With both online and in-store shopping showing strong numbers, you have a prime opportunity to capture a larger market share during this period.

To make the most of this, you should focus on an omnichannel strategy. This approach connects your business with customers across multiple platforms. Tailored promotions and a unified shopping experience can help you tap into the increased consumer spending during the Cyber Five.

Why It’s Difficult for SMEs to Launch Omnichannel Strategy for Black Friday

An omnichannel strategy can help drive sales during Black Friday, but for SMEs, adopting one is far from easy. Many factors make it a challenging endeavor:

• Limited Resources

Unlike large retailers, SMEs often have smaller budgets, fewer employees, and limited technology infrastructure. 

Building a presence across multiple channels—such as online stores, social media, and physical locations—requires significant investment, including tools, platforms, and manpower. For many SMEs, the costs and time involved can feel overwhelming, turning this into a daunting task.

• Technological Complexity

An omnichannel strategy relies on integrating various technologies. This includes inventory management systems, customer relationship management (CRM) software, and eCommerce platforms. 

However, SMEs may lack the technical expertise needed to bring these systems together. The challenge of syncing these technologies can make it difficult to provide a smooth experience across all touchpoints.

• Logistics and Fulfillment

Handling orders from multiple channels complicates the fulfillment process. Many SMEs don’t have the infrastructure to meet increased demand or manage logistics during the Black Friday rush. 

Issues such as inconsistent stock levels or delayed shipping can harm the customer experience. This makes it harder to compete with larger retailers who often have more robust systems in place.

• Marketing and Customer Engagement

Reaching customers on different platforms requires specific marketing strategies and consistent messaging. 

However, SMEs often lack the budget or team to create personalized campaigns for each channel. As a result, it becomes challenging to engage customers effectively. Without a strong marketing push, even the best omnichannel strategy can struggle to gain traction.

• Data Integration and Insights

A successful omnichannel strategy depends heavily on data. Understanding customer behavior, preferences, and shopping patterns across channels is key. 

Unfortunately, SMEs may lack access to advanced analytics tools or the expertise to integrate data from various sources. Without these insights, it’s difficult to refine the strategy and improve the customer experience.

Preparing for Black Friday’s Omnichannel Strategy

Before launching an omnichannel strategy for Black Friday, make sure your current systems are ready to handle multiple sales channels. You might already have some of the tools listed below, but it’s worth reviewing how well they work together and if they can support the increased demand during the busy period. 

Point of Sale (POS) and Inventory Management

Your POS system should seamlessly integrate with your online store, ensuring real-time updates to stock levels as sales happen across channels. This prevents overselling and helps you manage inventory more effectively. If your current system doesn’t offer this functionality, consider upgrading or adding an inventory management tool that syncs with your POS. 

ConnectPOS is a great solution for SMEs, offering full integration with eCommerce platforms and real-time inventory management. It supports both online and offline sales, so you can track stock levels accurately and prevent overselling during the Black Friday rush.

Customer Relationship Management (CRM)

Your CRM should help you track customer interactions across both online and offline channels. This allows you to personalize offers, follow up on abandoned carts, and create targeted promotions. The key is to ensure that your CRM integrates with your other systems, like your eCommerce platform, so all customer data is consolidated and actionable.

Solutions like HubSpot CRM or Zoho CRM are popular options for small businesses. Both offer robust integrations, enabling you to manage customer data, automate follow-ups, and create targeted promotions based on customer behavior.

eCommerce Platform

Your online store needs to be fully integrated with your POS and CRM systems to offer a unified shopping experience. Check if your platform can handle increased traffic, especially on mobile, since many customers will be shopping from their phones. Also, review how easily you can manage promotions, returns, and customer inquiries from one central place.

Shopify, WooCommerce, and BigCommerce are strong contenders for SMEs, offering scalability, mobile optimization, and easy-to-manage features for promotions and returns. These platforms also support integrations with ConnectPOS and CRMs.

Marketing Automation

Automating your marketing processes can save time and ensure consistent communication across email, social media, and other channels. Tools that allow you to segment your audience, schedule campaigns, and track results can help you maintain engagement with customers throughout Black Friday and beyond.

Mailchimp and Klaviyo are highly regarded for SMEs, providing features like audience segmentation, campaign scheduling, and performance tracking. These tools help maintain consistent communication throughout Black Friday without overwhelming your team.

Data Analytics

Having solid analytics in place is key for understanding customer behavior and sales trends across channels. Assess whether your current tools provide insights into both in-store and online activity. The more visibility you have into what’s working, the better you can refine your strategy and respond quickly to any issues.

Google Analytics is a go-to solution for tracking online activity, while Looker or Power BI can provide more advanced insights by integrating data from multiple sources. You can use them to identify trends, track customer journeys, and make data-driven decisions to refine your omnichannel strategy.

Omnichannel Strategies for Black Friday to Rasie Higher Revenue

While SMEs may hesitate when it comes to launching an omnichannel strategy for Black Friday, it can be more approachable than you may expect. Even with minor adjustments, you can utilize existing resources to boost sales this season. 

Turn Your Physical Store into a Competitive Advantage

While online sales are growing, Mastercard reports that store sales also increased by 2.2% last Black Friday. As an SME, your physical store can differentiate you from online-only retailers.

• Local focus: Use your proximity to your customers as an advantage. Highlight in-store exclusives or local delivery options to set yourself apart from larger retailers.
• In-store experience: Offer something special that online competitors can’t match. Consider hosting a small event, offering complimentary gift-wrapping, or setting up a buy-online, pick-up-in-store (BOPIS) system. These personal touches are often difficult for big retailers to replicate.
• Local partnerships: Collaborate with nearby shops, like coffee houses or bakeries, to create cross-promotions or bundle deals. For example, offer a discount at the bakery next door with every purchase from your store.

Simplify Omnichannel Logistics

Managing logistics across channels can be tricky, but it doesn’t have to be complicated. A few simple systems can streamline operations and keep customers happy.

• BOPIS (Buy Online, Pick Up In-Store): Implement a straightforward BOPIS option. Even if you don’t have an advanced system, using basic tools like email confirmations or Google Forms can help manage orders. This also gives your online customers a reason to visit your store.
• Local delivery options: If possible, offer local delivery through couriers or your own team. This can be faster and more personal than the standard shipping options offered by large retailers.
• Centralized inventory management: Use affordable POS systems like ConnectPOS to sync inventory across online and offline channels. This prevents overselling while keeping your stock management simple.

Use Social Media for Hyper-Targeted Engagement

More than half of U.S. holiday shoppers who visited a store said they researched products online first (Think with Google). Social media is a powerful tool to reach these customers and engage them locally.

• Engage with your local community: Post about your Black Friday deals on local Facebook groups, Instagram, and Nextdoor to attract customers who prefer supporting local businesses.
• Update on Instagram and Facebook Stories: Create urgency with “flash sales” in your stories. For instance, you can announce limited-time offers every few hours on Black Friday to keep your customers engaged and checking back for updates.
• Go live: Host a live stream showcasing Black Friday deals or a Q&A about your products. This personal interaction can build stronger relationships with your audience, something that’s harder for big retailers to do at scale.

Personalized Customer Service as a Differentiator

According to McKinsey, 71% of consumers expect companies to deliver personalized interactions, and businesses that excel at personalization generate 40% more revenue. As an SME, you have the flexibility to offer the kind of personalized service that big retailers often can’t.

• Direct customer interaction: Be responsive on social media, answer DMs quickly, and provide personalized support through email or phone. Your ability to offer more flexible and personal customer service is a key advantage.
• Personalized shopping experience: Provide one-on-one virtual consultations or in-store appointments for customers who want tailored advice. This personal touch can make a big difference, especially for customers looking for gift ideas.
• Follow-up after purchase: Send personalized thank-you messages or small, handwritten notes with orders (online or in-store) to build loyalty and enhance the customer experience.

Focus on Scarcity and Urgency to Drive Sales

Scarcity and urgency are two powerful sales drivers, especially during Black Friday. As an SME, you can use your smaller inventory to your advantage.

• Limited stock offers: Promote exclusive items that are available in small quantities, creating a sense of urgency. Highlighting this scarcity can encourage customers to act quickly before items run out.
• Time-sensitive flash deals: Run short, time-limited promotions throughout the day. For example, announce hourly deals via social media or email to keep customers excited and engaged.
• Exclusive early access for loyal customers: Reward your VIP customers with early access to your Black Friday deals through email or SMS. This makes them feel valued and gives them a head start before the general public.

Collaborate with Other Small Businesses

Collaborating with other local businesses can amplify your reach and help you attract new customers.

• Cross-promote with other businesses: Partner with other SMEs in your area to create joint promotions. For example, a clothing store could team up with a local jewelry shop to offer bundle discounts.
• Bundle products: Collaborate with others to create exclusive Black Friday bundles. This not only adds value for your customers but also introduces them to new products from your partners.
• Host a local vendor event: If your space permits, invite a few local artisans or vendors to showcase their products in your store during Black Friday, creating a more engaging shopping experience.

Maximize Reach with Your Marketing Channels

Black Friday is a time to leverage your marketing channels to their fullest potential.

• Email marketing: Build a segmented email list and send targeted messages that highlight specific deals. Personalization is key, so tailor your emails based on customer preferences or past purchases.
• SMS marketing: Use SMS to send short, timely messages about flash sales or limited-time offers. With its high open rate, SMS is an effective way to drive immediate action during Black Friday.
• Google Business updates: Make sure your Google Business profile is up to date with your Black Friday hours, promotions, and any special events. Many customers search for local deals, and updating your profile helps boost visibility.

Engage with Customers When It’s Post-Black Friday

Black Friday isn’t just about one day of sales. It’s about building long-term relationships with your customers.

• Nurture customer relationships: Follow up with new customers after Black Friday. Send post-purchase emails offering them a discount on their next purchase or invite them to join your loyalty program.
• Gather feedback: Encourage customers to leave reviews or provide feedback on their experience. This not only helps improve your online reputation but also gives you valuable insights for future campaigns.
• Plan for returns: Be transparent and clear about your return policy. Offering flexible returns, even for a limited time, can build trust and encourage more confident purchasing.

Support Your Omnichannel Strategy for Black Friday with ConnectPOS

ConnectPOS supports businesses like yours in delivering an omnichannel experience by connecting physical stores with online channels. Its real-time inventory management helps prevent overselling and ensures your customers always have up-to-date stock information. 

The system integrates with a range of hardware devices, such as barcode scanners and receipt printers, making it adaptable to different store setups. With a simple setup process, you and your staff can get started quickly without extensive technical expertise. 

On top of that, ConnectPOS provides solid customer support and comes at an affordable price point, making it a cost-effective option for businesses aiming to improve both their in-store and online operations. By centralizing sales and offering flexible features like Buy Online, Pick Up In-Store (BOPIS), the platform helps you provide a consistent and efficient shopping experience.

FAQs: Black Friday Omnichannel Strategies for SMEs

1. What is an omnichannel strategy, and why is it important for SMEs on Black Friday?

An omnichannel strategy connects your online and offline sales channels, providing a seamless experience for customers. On Black Friday, it helps SMEs compete by offering convenience and flexibility, whether customers shop online, in-store, or use services like BOPIS.

2. How can SMEs use their physical stores as an advantage during Black Friday?

SMEs can focus on local experiences, like in-store exclusives, personalized service, and BOPIS to attract customers. Partnering with nearby businesses for cross-promotions can also drive foot traffic and create a more community-focused shopping experience.

3. What are some simple ways SMEs can manage omnichannel logistics for Black Friday?

SMEs can use tools like ConnectPOS to sync inventory across channels and prevent overselling. A simple BOPIS system with email confirmations, and offering local delivery, can streamline logistics and provide better service during Black Friday.

4. How can SMEs use social media to boost Black Friday sales?

SMEs can post deals on local Facebook groups, Instagram, and Nextdoor. Using Instagram/Facebook Stories for flash sales and going live to showcase products helps create urgency, build engagement, and boost sales.

Takeaways 

With a strategic approach, SMEs can build their own powerful omnichannel strategy for Black Friday without needing massive resources. SMEs have the upper hand on amplifying local advantages, providing personalized service, and offering flexible shopping experiences. When combined with a well-integrated online and offline system, this creates a seamless and unified customer experience. While Black Friday may spike sales, an omnichannel strategy cultivates enduring relationships, propelling your business toward sustained growth and deeper customer loyalty for years to come.

Take your Black Friday strategy to the next level with ConnectPOS! Reach out to us today and discover how we can help you create a seamless omnichannel experience.