It’s almost that time of the year. Black Friday is approaching, and it presents a different opportunity for the retail and beauty industries to maximize their sales and reach new customers.
However, it’s important to remember that the success of these sales heavily depends on great planning and execution. Let’s explore five key tips for planning Black Friday sales while leveraging ERP implementation, business automation, and NetSuite meshing to optimize your business.
Leverage ERP Implementation for Smoother Operations
A strong ERP system is detrimental to handling the difficulties of Black Friday sales. Implementing an ERP system allows you to concentrate data across different departments, such as inventory, finance, and sales.
This merge enables live-time insights into stock levels and sale trends, which enables you to make informed decisions quickly and efficiently. For example, beauty businesses need product formulas and inventory management – an ERP system can help ensure that popular items are well-stocked and ready to meet customer needs.
Embrace Business Automation
Automation can drastically enhance your Black Friday preparations. By automating redundant tasks, such as tracking inventory and order processing, you and your team can focus on strategic initiatives that drive sales.
For instance, setting up automated email newsletters or marketing campaigns can effectively boost your Black Friday deals to your existing customer base and also engage with newer shoppers. Embracing business automation not only saves time but also helps reduce the risk of error.
Integrate with NetSuite for Enhance Performance
NetSuite’s integrated process is specifically beneficial for retail and beauty industries. As a top cloud-based ERP solution, NetSuite provides advanced capabilities for managing customer relationship management (CRM), handling e-commerce, and financials.
By implementing NetSuite, you can gain a holistic view of your business performance and customer interactions. This extensive insight allows you to tailor your Black Friday services or products based on customer preferences and buying behaviors, inevitably, your chances of better conversions.
Optimize Your Inventory Management
Having effective inventory management is essential for a successful Black Friday sale. With the right ERP system and tools, you can follow inventory levels in real time and plan out demand more accurately.
For example, the ERP system would be able to analyze previous Black Friday sales to identify best-selling products and prepare accordingly. In the beauty business realm, understanding which products are trending can help you create attractive sales or special offers that resonate clearly with your audience. And, of course, having proper inventory management ensures you won’t run out of popular items or overstock slower-moving items.
Prepare Your Team and Infrastructure
Lastly, make sure your team is well-prepared for the flood of customers on Black Friday. Provide your team with ERP system and automation tool training so that everyone can respond quickly to customers' requests and manage sales productively.
You’ll also want to test-run your website and e-commerce platform to ensure increased traffic is handled with ease. A smooth online shopping experience is important to converting leads during and around Black Friday. For beauty businesses, remember to consider offering online consultations or tutorials to engage customers further and specialize their shopping experience.
Black Friday Fun
Planning for Black Friday sales doesn’t have to be an anxiety-inducing task. It simply requires strategic planning that leverages technology and operations.
By adding a powerful ERP system, embracing business automation, integrating with NetSuite, optimizing inventory management, and getting your team ready, retail and beauty businesses can set themselves up for success.
Feeling like your business is on shaky ground? You’ve got time. Reach out to our team today to discuss how we can help position your business for success.