20 November 2023
Black2Black: Black Friday B2B strategies
Opportunities for B2B Ecommerce During the Black Friday Period
Black Friday has always been associated with B2C, geared towards boosting sales of goods and services directly to consumers. This perception has often led B2B sellers to consider the event less interesting. But is that really the case? Is it possible that those who sell online to other businesses cannot take advantage of this initiative to grow revenue and volumes? In this article, we will debunk some myths and provide a different perspective on the Black Friday phenomenon for B2B sellers.
Myths and Beliefs in Selling to Other Businesses
Before delving into the discussion, it is necessary to make a proper introduction and analyze some myths related to selling to other businesses when it comes to Black Friday.
#1 myth: there is only one type of B2B
False. Unfortunately (or fortunately), there is not just one type of B2B, and a B2B ecommerce that fits all. B2B selling models depend on the type of goods and services being sold. There are many variations depending on the competitive context, the service market, and the type, and not all B2B businesses can leverage Black Friday in the same way.
Focusing mainly on goods, the fundamental distinction for the purposes of this discussion is between:
- semi-finished and intermediate goods
- finished products (intended for resale or internal use)
In the first case, the good cannot be immediately distributed and consumed but requires one or more additional transformations before being made available to consumers.
This distinction has profound impacts on the possibility and methods of leveraging Black Friday for B2B businesses.
Another important variant is considering companies that operate through B2B2C sales models, where there is deep integration with the distribution chain. In this case, the digital revolution has favored integration guided by B2B ecommerce, allowing B2C retailers to synchronize catalogs and orders directly with those of suppliers.
#2 myth: Black Friday is only for B2C companies
False. Even B2B companies operating in the production and distribution of finished products can benefit from Black Friday to implement sales and marketing strategies that can increase revenues and profits, anticipating consumer demand.
In the case of B2B2C sales models, software integration allows B2B companies to be directly involved in Black Friday sales and, in many cases, to influence public offerings.
On the contrary, companies characterized by the output type of the first kind (semi-finished and intermediate goods) have few chances to take advantage of marketing and sales initiatives during Black Friday.
#3 myth: B2B Black Friday is on the same Friday as B2C
False. Black Friday is the informal name used in the United States to indicate the Friday following Thanksgiving Day, which is celebrated on the fourth Thursday of November. This is the day of the big pre-Christmas shopping where American consumers take advantage of offers and promotions to buy Christmas gifts. Except for those adopting B2B2C sales models where commercial policy integrations are in real-time, Black Friday in B2B comes earlier than the official date. The anticipation depends on the complexity and times in which the B2B manufacturer or wholesaler can make the goods available for sale to B2C retailers. The longer the supply chain, the earlier any B2B marketing and sales promotions planned for Black Friday will have to move ahead of the event.
Black Friday and B2B
In light of these premises, the potential of Black Friday in the context of Business to Business (B2B) goes beyond the mere perception of an intense shopping day. The dynamics and strategies involved in B2B during this period offer a unique opportunity to shape and anticipate offers, influencing both retailers and, ultimately, end consumers.
In traditional models, B2B companies have long played a fundamental role in developing and guiding offers for end consumers, often anticipating and shaping the timeline of promotions. Their position has not been that of mere spectators but rather of driving forces, generating discounts and promotions directed at retailers, the consequences of which impact end consumers.
Incorporating Black Friday into the B2B context not only involves the ability to define the availability of discounts but also requires an in-depth analysis of the end consumer market and strategic alignment with business goals. It must be supported by a solid financial foundation to ensure that price reductions do not jeopardize economic stability. Creativity in formulating offers becomes crucial; it's not just about discounts but innovative promotional strategies that can differentiate a company from competitors.
How B2B Drives B2C
Preparation for Black Friday by B2C companies involves supplier companies as a source of business for retailers. The latter must ensure availability of goods in stock to offer promotions during this period. The need to have adequate inventory to support offers is a crucial point, as it will directly influence the type and extent of promotions that retailers can offer to end consumers.
Suppliers, on the other hand, play a fundamental role in anticipating and driving B2C Black Friday through promotions offered to retailers. The offers and discounts that suppliers develop and offer to retailers will then form the basis on which retailers will build their own offers to end consumers.
In this way, B2B dynamics directly influence Black Friday in the B2C sector. The offers proposed by suppliers to retailers have a direct impact on the course and nature of promotions that end consumers will see during Black Friday. So, the promotions cycle begins right in the B2B context, with suppliers anticipating, driving, and shaping the offers that will then be poured into the B2C market.
The interconnection between suppliers and retailers in the B2B sector is crucial for the preparation and implementation of offers during Black Friday. Actions taken in B2B anticipate and directly influence the dynamics of Black Friday in the B2C sector, demonstrating the predictive and driving role of B2B in this important commercial event.
The Effectiveness of Black Friday
Understanding consumer psychology, based on the allure of limited-time offers and advantageous deals, also extends to business buyers. The effect of exclusive offers is significant and can generate a positive response even in a B2B context.
Preparing for Black Friday in B2B requires not only logistical preparation to handle a potential high flow of orders but also proper inventory management and a robust eCommerce infrastructure to ensure a smooth shopping experience.
Accurate definition of offers is another key element. These can range from limited-time discounts to hourly promotions or forms of offers that go beyond traditional price cuts. In-depth knowledge of buyer behavior allows for planning targeted offers during Black Friday itself or even later, such as during Cyber Monday.
Black Friday in the B2B context offers fertile ground for companies that want not only to participate in this promotional race but also to distinguish themselves and drive market dynamics, anticipating and influencing offers for end consumers.
In the case of B2B2C integration, the possibility of structuring Black Friday as a promotional tool and increasing sales is evident. If there is integration between B2B information systems and those of B2B retailers, the synchronization of catalogs and promotional offers in real time is possible, making the benefits of discounts clear along the entire distribution chain. Often, B2B's management and eCommerce systems allow retailers to connect and share information such as product sheets and real-time availability, benefiting the efficiency and effectiveness of distribution processes.
Black Friday offers B2B companies operating with a B2B2C model various sales opportunities, both with and without dropshipping integration:
- Special offers and promotions: Companies can create special offers or promotional packages to attract both retailers (B2B) and end consumers (B2C). This can include discounts, product bundles, or free additional services.
- Targeted marketing: By using targeted marketing strategies, companies can reach both their business partners and end consumers. This can include email campaigns, social media advertising, and collaborations with influencers to increase the visibility of Black Friday offers.
- Integrated dropshipping: For companies using dropshipping, Black Friday can be an opportunity to offer faster shipping or reduced shipping rates. This can be a significant incentive for both retailers and end consumers.
- Online selling platforms: B2B companies can leverage B2B2C eCommerce platforms to sell directly to consumers. This can include creating dedicated Black Friday pages on their online platforms, offering a streamlined shopping experience and special promotions.
- Collaborations with retailers: B2B companies can collaborate with their B2B customers (retailers) to create joint offers. This can help maximize the reach and effectiveness of Black Friday promotions.
- Data analysis and customization: By using customer data, companies can customize offers and campaigns for specific targets, thus improving the effectiveness of their sales campaigns during Black Friday.
- Post-Sale Support and Customer Services: Offering excellent post-sale support and customer services during Black Friday can help build long-term relationships with both B2B partners and end consumers.
- Inventory management: During Black Friday, having good inventory management is crucial, especially for companies that do not use the dropshipping model, to avoid stockouts or excess inventory.
In general, Black Friday represents a significant opportunity for B2B2C companies to increase sales and strengthen relationships with both business partners and end consumers through well-planned marketing and sales strategies. If you want to discover how to maximize a B2B2C business, read our article on dropshipping.
Marketing Tools for a Successful Black Friday in B2B and B2B2C
Now that we've established that sales opportunities during Black Friday are real and concrete even for certain types of B2B-oriented companies, it's time to understand how to structure the resulting possibilities.
When it comes to capitalizing on the opportunities offered by Black Friday in the B2B context, having the right marketing tools is crucial. Rewix, the first B2B Ecommerce eXperience Platform, offers advanced modules that can make a difference in amplifying sales and improving the customer experience during this crucial period.
Rewix allows the realization of integrated B2B2C sales models that exploit all the possibilities of increasing sales even for B2B during the Black Friday period.
Advanced Order Management
Rewix's "Order Management" module is designed to efficiently manage the entire order lifecycle, from receipt to delivery. It offers a range of potential features, such as real-time order management, catalog management, easy search, and shipment management. This module ensures a high-quality customer experience, allowing companies to manage orders accurately and promptly, delivering goods quickly and punctually.
Effective Sales Management
Rewix's "Sales Management" module integrates advanced functions such as CRM, marketing automation, DEM, and live chat, providing companies with the tools needed to optimize the entire sales cycle. With contact management, segmentation, sales pipeline, and performance analysis, this module allows companies to interact effectively with customers and maximize sales opportunities.
Optimizing B2B Sales During Black Friday
The combination of these advanced features allows companies to effectively prepare for Black Friday in the B2B context. Optimized order management and the ability to customize and optimize the entire sales cycle are essential to maximize conversion opportunities during this critical period.
For a more detailed description of the features offered by the "Order Management" and "Sales Management" modules of Rewix and to discover how these powerful solutions can lead your business to success during Black Friday, read the article dedicated to the description of the B2B ecommerce platform. Rewix provides the tools and resources needed to ensure a personalized and omnichannel experience, maximizing sales during this key event in the B2B world.