The Startup Ideas Podcast
How This Guy Makes His Entire Year's Revenue in Black Friday WEEK
Wed, 27 Nov 2024
Join me as I chat with Jonathan Courtney, Co-Founder and CEO of AJ&Smart, as we dive deep into Black Friday Campaign strategy. Jonathan shares his strategies and frameworks for leveraging Black Friday regardless of what type of business you run. Episode Timestamps00:00 - Intro01:15 - The Importance of Black Friday for Businesses04:21 - Types of Black Friday Sales05:01 - Case Study: Endel's Renewal Strategy08:49 - Comparing Strategies: MagicMind and AG112:48 - Apple's Unique Approach to Black Friday14:25 - Creative E-commerce Strategies20:12 - Bundling Products for Black Friday22:51 - Startup Idea 1: Black Friday Agency27:55 - Gamifying Promo Codes29:59 - Our Black Friday Buys31:41 - Live Streaming as a Sales Strategy1) The Store Credit HackInstead of basic "20% off" - tell customers they have $21.63 in store credit expiring soonWhy it works:• Feels like "their money"• Specific numbers boost authenticity• Creates urgency2) The Premium PlayHow luxury brands do Black Friday:• No discounts• Give gift cards with purchase• Example: Apple gives $200 creditKeeps brand prestige while driving sales 3) The Bundle BuilderFour Sigmatic's genius approach:• Interactive bundle builder• Unlocks bigger discounts at $59/$99• Shows real-time savings• Makes shopping funSteal this for your store 4) The Bonus StackMagicMind's approach:• Start with core discount• Add digital product access• Include physical gifts• Stack more bonuses as week progressesPsychology: Value over Discount5) The Subscription PushSaaS playbook:• Offer renewal discounts• Add exclusive bonuses• Example: Endel does 50% off + premium gifts• Works for any subscription business6) The QVC StrategyModern twist:• Run 12-hour livestream sales• Show limited quantities• Create FOMO• Add exclusive bundles• Perfect for influencer brands7) The Campaign TimelineSmart businesses:• Plan 6 months ahead• Start ads 3 days before• Build waiting lists• Layer in bonuses• Peak on Friday8) The Profit RealityTruth bomb:• Could make 1-2 months revenue in 1 week• Some brands make yearly revenue• Even "bad" years saved by Black Friday• Ignoring it = leaving millions on tableRemember: Black Friday isn't just a discount day.It's a strategic revenue event that can make your entire year.Don't flub itWant more free ideas? I collect the best ideas from the pod and give them to you for free in a database. Most of them cost $0 to start (my fav)Get access: https://www.gregisenberg.com/30startupideasLCA helps Fortune 500s and fast-growing startups build their future - from Warner Music to Fortnite to Dropbox. We turn 'what if' into reality with AI, apps, and next-gen products https://latecheckout.agency/BoringAds — ads agency that will build you profitable ad campaigns http://boringads.com/BoringMarketing — SEO agency and tools to get your organic customers http://boringmarketing.com/Startup Empire - a membership for builders who want to build cash-flowing businesses https://www.startupempire.coFIND ME ON SOCIALX/Twitter: https://twitter.com/gregisenbergInstagram: https://instagram.com/gregisenberg/LinkedIn: https://www.linkedin.com/in/gisenberg/FIND JONATHAN ON SOCIALX/Twitter: https://twitter.com/JicecreamLinkedIn: https://www.linkedin.com/in/jonathan-courtney-4510644b/AJ&Smart: https://ajsmart.com/
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