Skyrocketing gas prices, interest rates, and food shortages can make it stressful for businesses, especially when deciding their Black Friday promotions which raises the question:
The simple answer is yes, businesses can benefit from:
- Clearing stock
- Boosting sales volumes: Driving prices far below the average enhances short-term cash flow.
- Growing both their customer base and brand loyalty.
The main issue, though, is how businesses may find the balance to make sure that it doesn’t later harm sales while planning for the Black Friday promotions.
But, what if there is a tool that can help you examine the performance of promotions to pinpoint areas of under and overinvestment? We then apply machine learning algorithms to optimize the promotional plan and make the best trade-offs possible, which eventually:
- Safeguard ROI by allocating promotional investments to the appropriate categories and channels.
- Utilize the appropriate promotional mechanics, and carry them out at the appropriate time and place.
- Finally, create promotions that fit consumer demands and behavior.
Black Friday promotions can be a highly profitable opportunity for businesses when executed properly. With the potential to enhance your short-term cash flow and brand loyalty, Black Friday can be a game-changer for your business. Take advantage of this opportunity by planning your promotions carefully and making informed decisions that will benefit your bottom line.