Black Friday offers an important lesson for cyber (i.e., enterprise software) solution marketers.
Bombarded by Black Friday
Over the last few weeks, we’ve been bombarded with a never-ending stream of Black Friday TV commercials. These included a litany of TV commercials for BMWs and other cars on sale for Black Friday. Maybe it’s all due to a surge in self-gifting, although experts were predicting a drop for 2014.
In a world where everything from clothes to cars was on sale on or around Black Friday, retailers were competing against just about every other retailer for the $381 that the typical shopper spent this past weekend, according to the National Retail Federation. That included direct competitors offering similar goods, indirect competitors who offered different goods that solved the same problem (say, giving a nice gift) and what I’ll call Share of Budget competitors who solved different problems but competed for the same budget.