It’s really important for any business (brand new or well-loved) to think about whether they want to participate in yearly sales events and what benefits they will receive if they do.

It’s an obvious benefit to your customers if you discount your products but are you still making a profit? Do you know how to guarantee a profitable Black Friday and Cyber Monday campaign?

What is your discount strategy? Will it drive sales? Are you just making it up? Fun fact: If you are discounting even 25% of your retail price it’s a good chance you are losing money.

How then can you ensure that your customers are committed, loyal and engaged community members that truly value your offering? Is wildly discounting your products a strategy that will work in the long-term or how can we encourage our customers to spend more before getting a discount? Would a Spend & Save strategy be a better option to have customers meet a spending threshold before a discount kicks in.

The best way to understand a discounting strategy for a Spend & Save approach is to focus on the growth in average order value (AOV).

Here is a link to a BFCM Discounting Calculator Tutorial by Jason Andrew, which may help you decide on the best discounting strategy for your business.

Ultimately you want to ensure that you know how much money you will make from BFCM sales and your discount campaign. Try to engage your customers with a strategy that is a win-win for both of you. They will respect you for that and you’ll keep making a profit!