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No matter your Industry, if you have something to sell start developing your Sales campaign now!
Black Friday will officially begin on November 29th this year but don’t let that stop you from getting into the action earlier.
Start by Understanding the importance of Black Friday sales opportunities
Australia has eagerly embraced this American tradition that heralds the start of the shopping season, after their celebrated Thanksgiving Day. Both retailers and shoppers enjoy the offers and benefits of highly promoted sales at discounted prices.
New research shows that the pre-Christmas sales opportunities in November, including Black Friday, will see an impressive number of shoppers bringing forward their spending to secure bargain gifts. This builds on last year's November sales that jumped by 2.7%.
7 Strategies to Maximise your Sales opportunities
- Plan, prepare and promote your Marketing campaign, NOW! Identify your deals and align with stock, supply, resources, budget etc. Explore all marketing options to get greatest exposure, such as; social media, display advertising, newsletters, and Instore promotions.
- Consumers' buying habits and behaviours have changed, since the pandemic and now with the cost-of-living crisis. Shoppers are savvier, more discerning, looking to increase their buying power, both instore and online. Bargain hunters are out hunting, keen, and eager to get ‘early-bird’ specials.
- Get your Business ‘house’ in order. Instore make sure your premises are ready and equipped for more customer traffic. Ensure you have sufficient and suitably trained staff. Online/digital make sure all systems are up to date, in working order and ready to go! Do a ‘test run’! Have a backup system, plan B!
- The Role of E-commerce to expand opportunities. Optimize your website and maximize sales opportunities with ‘Click and Buy’ purchase options. Make it simple and easy for shoppers. More direct methods mean less time and hassle for all. Explore new marketing tools and seek expert technical help if needed.
- Leverage social media to boost your exposure. Craft ‘clever’ emails, tailor content and personalize to regular customers, and re-engage with past and target potential ones. Be honest and authentic, avoid gimmicks. Utilize hashtags effectively to spread your message.
- Craft irresistible deals. Plan your ‘sales’ pitch and develop product offers to get ultimate results. Motivate customers, make offers attractive with ‘can't refuse’ incentives! Remember your (USP) unique selling point. Consider offering free delivery, bundled offers bonuses and gifts. Explore ‘upsell and cross-sell' methods.
- Delivery methods. Critical to have delivery systems in place for Online shoppers. Check your providers/arrangements are reliable and ready to go to deliver orders as promised. Carefully monitor and manage inventory to ensure supply.
Seize the moment to capitalize on this year’s Black Friday sales opportunities, crank up your campaign
And get your early bird deals out now!
You can’t escape the headlines, news reports coming in every hour, every minute!
If you are a small Business owner, it’s likely you are affected by these stories. Market forces, economic fluctuations, swings and roundabouts, ups and downs. 'The global economy is heading towards a year end with unexpected tailwinds! '
It is easy to be influenced, positively or negatively! You might find yourself nodding in agreement with such bold catchy statements. Do they resonate or relate to your situation. Yes or no, if you are one of the savvy operators you feel good knowing you have adopted sound, best practice strategies to help you weather any storms. Oh, what a great feeling that is! Create and share your own successes!
Did you catch these Headlines!
Small Business never had it so tough – a Perfect Storm of rising costs, including Industrial Relations issues, Labour shortages and the cost of doing business! Reported (9th October) ‘2100 small and medium Businesses surveyed said their top three concerns for 2024 were energy prices, wages and cybersecurity threats.
Household budgets are being squeezed. Small Businesses are facing the toughest trading environment in recent years as household budgets experience cost-of-living pressures. Discretionary spending is affected.
What’s Driving up Burger Prices! Even the humble Big Mac is affected by the cost-of-living crisis! With a smorgasbord of ingredients making up a Mac, including beef, special sauce, wages, Royalties and intellectual property, nothing is spared!
Consumer sentiment fell in September, as the pessimism that has dominated for over two years still showed no signs of lifting.
Come October, consumer confidence, potentially the confidence of your customers is up, according to Commsecs Market Analyst saying, ‘confidence has reached its highest level in two and half years since the Reserve Bank started hiking interest rates.’
Importantly, whatever your Industry or Business it’s critical to stay on top of operational activities and legislative responsibilities, such as meeting Taxation obligations, workers entitlements and all reporting requirements.
Equally important is having your Business affairs carefully managed. Keeping your ‘house’ in order is a must, including Tax matters, accounting and bookkeeping, along with having your cashflow flowing. Is your Business Plan current and your Marketing reaching existing and new markets!
Smart Businesses seek professional services. Blackburn Accounting is well placed providing a range of services, including cashflow management, assisting with strategic planning and helping develop your Business capacity for growth and expansion.
Don’t wait, contact us today to discuss your Business Accounting needs.
Phone: +61 8 6454 5831, email
Big Mac helping understand cost of living pressures
The humble burger, the Big Mac is affected by the cost-of-living crisis! But if you are a regular Mac Burger eater you already know that!
We know from the tracking system, the Big Mac index. It measures prices across 55 countries as a way of keeping an eye on the global economy.
You may recall back in March we presented ‘the Humble burger! A great takeaway meal or measure of Business success.https://www.blackburnaccounting.com.au/blog/218-the-humble-burger-a-great-takeaway-meal-or-measure-of-business-success.
But, How, what’s driving up prices today
Let’s start back in 2017 a Big Mac cost $5.80 in Australia. And year by year the price crept up in small rises reaching $6.15 in early 2019. This was prior to inflation that sent us into a cost-of-living nightmare. By 2020 prices steadily increased then the pandemic hit!
Surprise, can you believe, with consumers stuck at home the cost dropped for the first time in years. Price stayed around $6.40 until 2022 when the cost-of-living crisis hit. Nothing was sparred, goods, essentials like toilet paper and services, plumbers, dentists, all visits started costing more! Ah yes, painful, at the dentist and checkout!
And the humble burger didn’t escape!
Let’s look more closely at what’s been happening.
Across the globe this treat, with the same basic ingredients, bun, beef patties, single slice cheese, pickles, onion, lettuce and blob of sauce is produced at an industrial scale. It’s a mass-produced commodity, linked to the intricacies of the global economy. Suggested by associate professor of economists ‘if the price of a Big Mac’ is moving there’s something really strong going on in the economy at large’. And don't we know that!
It’s basic economics 101! When McDonalds has to pay more for its ingredients it passes those costs onto consumers. With a smorgasbord of ingredients making up a Mac, including beef, special sauce, wages, rents, Royalties and intellectual property. The list goes on, nothing is spared!
Examples, bread prices rose, cheese too, add electricity costs. With all corners of business expenses rising - It is forcing sale prices up.
Inflation, cost of living, watch this space for more and follow the Big Mac index!
Enjoy your Big Mac!
The key is understanding and harnessing the benefits of vulnerability in leadership!
What it is and Why it matters!
If you were asked to describe a successful Business leader you might respond,
‘strong, never showing emotion or vulnerability, unfeeling, never wrong and if they were they would never admit to it’.
Well said! That’s it in a nutshell. Historically ‘vulnerability’ in the context of Business work life had a bad reputation. It was described as weakness, bleeding hearts pouring out affection, emotions viewed as inappropriate behaviour. Leaders were expected to be and were portrayed by stoic images of mid-century ‘breadwinners’, the ideal portrait of masculinity, power and professionalism.
The Good news, this view and mindset have changed in recent years, influenced particularly by millennials. They accept and welcome vulnerability in Leaders of all genders. They are authentic, willing to share the challenges of work life balance, caregiving, and acknowledge mental health struggles. They practice and demonstrate humility.
Great news! Today, 'smart' Leaders aren't afraid to be vulnerable. They embrace the power and strength of vulnerability to build meaningful connections, engaging relationships and improved team dynamics. They have and show a human side!
Who doesn’t want that!
READ ON!
7 Ways to be a more vulnerable Leader
- Share your story – it's ok to speak about your own experiences, successes, and failures. Importantly, sharing what you learned, including from mistakes. The message, mistakes are okay it's about learning from them. Choose what you share, what you are comfortable with and what is appropriate to the situation.
- Admit if you don't have all the answers – it's alright to say you don't know but are prepared to find out and seek advice from others. Importantly always follow up.
The Tax Office is taking compliance seriously.
This recent message from the Tax Office highlights the need for Insurance brokers to provide details of customers with high-value assets. If you have any of these, luxury vehicles, fine art, aircraft or motorhomes the ATO is keen to know!
And Employers have been put on notice to ensure compulsory superannuation payments are on time as new details emerge about the rollout of ‘payday super’. The ATO has released a Fact Sheet targeting employers and employees to explain how the system will work when changes kick in on July 1, 2026. More about this to come!
If this information raises any questions, contact Blackburn Accounting. We are your family Business specialists, available to advise on all your Taxation and Accounting matters.
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