How The Holiday Shopping Season Works for B2B
Black Friday and Cyber Monday act as pipeline opportunities for companies. The holiday season is a traditional boon, the most important time of year, for B2C companies, since buyer intent is by far at its highest. For B2B companies, holiday season opportunities may not seem as bright, considering they aren’t marketing to consumers, but as holiday shopping has matured, the B2B side has developed to also make this time of year key for companies.
Technology has evolved and become more ingrained in work processes, helping B2B soar in importance to traditional B2Cs. The vast majority of B2C businesses now rely on B2B tools to help them streamline and maximize their own offerings to the public, which has opened up the holiday season for B2B companies like never before. The industries are now more linked than ever, with B2Cs a step away from consumers and B2Bs only two steps away.
While some B2B industries might not be a good fit for Black Friday and Cyber Monday deals, many still successfully thrive because they are easy to set up and fill a need. That means that for this holiday season, B2B companies should be offering year-best sales and promotions the same as B2C ones to make the most of the holiday shopping season.
A B2B Edge
Customers expect sales around Black Friday and Cyber Monday, without fail. While the business owners who purchase B2B tools may not carry the same sky-high expectations of discounts as a consumer shopping for a television or quality socks, B2B companies can leverage this momentum and edge the competition.
Keep in mind that a customer’s innate need to purchase is at its peak across the board this time of the year, hence more prospects visiting your website and more primed to buy than usual. Since B2B companies will always have something to offer regardless of their categorical fit, getting your brand out there is key to standing out from a sea of competition. This means that a lack of promotion in November and December could paralyze your business during this surge.
Offering deals during Black Friday and Cyber Monday is a good and incredibly easy move to get your business to stand out from the B2B crowd. This is particularly true not just because of people’s expectations of sales, but that as the end of the year approaches, many companies are looking to finalize deals and use whatever is left in their budget. Since B2B deals don’t work well with Christmas sales due to the time it takes to finalize them, Black Friday and Cyber Monday is the ideal time to get those deals done before the calendar turns.
A Time to Capitalize
People might be skeptical of handing out big discounts or even buyer intent in 2022, given the constant talk of an upcoming recession and massive layoffs from some of the nation’s biggest companies, but despite the current economic situation, tech spending is not projected to decrease.
In reality, both B2C and B2B businesses are looking for competitive edges to differentiate themselves during the possible upcoming recession, meaning B2B software that actually addresses needs will be just as in-demand this holiday season. To capitalize on this, B2B companies would be wise to take big swings during this holiday season (if they haven’t already).
Mine for You
With an uptick in holiday shopping comes an uptick in personal data floating around the internet, making the need for a data privacy solution like Mine PrivacyOps all the more necessary. Many businesses are not equipped to properly handle the stream of data (and data subject requests) flowing in through the holiday shopping season, which might be yet another reason to make them averse to offering discounts.
Mine’s full automation, no-code solution to data privacy will help transform an organization’s approach to data compliance, giving them the confidence to capitalize on holiday sales without worrying about corresponding challenges like increased data flows.