Black November
Black Friday should be noted on everyone’s trading calendar, even those who don’t usually ‘do’ discounts. With gifting peaking at Christmas for most gifting brands, Black Friday is often the kick off where festive fever really starts to ramp up.
Unfortunately, as DTC brands try to compete in the noise of Black Friday discounts, they are launching earlier and earlier. What once was a single day has now turned into a weekend and is increasingly being dubbed "Black November." For most of the brands we talk to, this extended period is not achievable; it doesn’t align with brand values, resources are limited, and most importantly, they don’t have the same marketing budgets as bigger brands celebrating “Black November.”
November is an overwhelming time for our inboxes (and bank accounts)
Is It Right For You?
As with any big bet in your marketing calendar, it’s important to make sure that you make Black November work for you, and the commercial goals for your business (as well as being something that resonates with your customer, and represents your brand)
Whilst it’s tempting to use this high traffic time to try and acquire lots of new customers, we’d recommend thinking carefully about their Life-Time Value (LTV). Acquiring new customers that are looking for bargains during what is typically a very expensive time for digital marketing can leave you with a new cohort of customers who will never pay themselves back.
Instead, use the promotional period to engage and retain your loyal customers. Strengthen relationships with your existing customer base through exclusive deals and personalised offers. You know so much already about who these people are, what they like and what your brand can do to make a difference to them, that it puts you in a really strong position to cut through the Black November noise, and secure their order.
Competing Without a Big Budget
So, how can small brands compete if they don't have large marketing budgets or if discounting doesn't fit their business model? While I do believe that Black November has become excessive, consumers have come to expect some form of promotion, and it’s important to meet that expectation. Thankfully, it doesn’t need to be all about explosive discounts.
Alternative Promotions: Black Friday deals don’t have to mean slashing prices by 50%. Consider offering free delivery, or free gifts. These can be just as appealing and more gentle on your margins.
Product Drops: Does your operations system allow you to create new bundles with ease and no additional cost? Why not create limited-edition bundle discounts or a limited-edition “excess” product?
Maximise Your Owned Channels: You still have the opportunity to convert new customers, even if you’re not actively bidding on them. This is especially true for brands that have decent direct traffic. Ensure you’re promoting your offer across your website, organic social, offline touchpoints and email.
Just because you don’t have big budgets doesn’t mean you need to miss out on this important trading calendar date.
Flattening The Curve
One of the best ways to insure yourself against the highs and lows of Black November is to have a robust trading strategy for the remainder of the festive period. After all, you want to avoid pulling your Christmas volume forward, incentivised by deep discounts, leaving you exposed and missing out for the last few weeks of the year.
The good news is that by having a holistic approach to Q4 - as part of an all year round gifting strategy - you can help to flatten the Black November curve, and enjoy the uplift in traffic that it brings without sacrificing too much of your profitability.
If you want to find out more about how to make Black November work for you, book a call.
