If you’re anywhere on the Internet, or subscribed to any retail or digital store, you’ve already been swamped with Black Friday or Cyber Monday deals.
Side note: As I write this now, an 85% off deal for website hosting keeps coming up on my screen 🙂
A bit of history
Starting in 2014, software providers started to offer steep discounts on subscriptions to attract new customers.
Initially, these deals were more common in physical retail. As online shopping grew, software companies saw the potential to capitalize on the surge in digital spending around Black Friday.
Since then, the period around Black Friday and Cyber Monday has grown to include extensive “Cyber Week” promotions. Some deals can often reach up to 80% off, pointing to the fierce competition in the software market.
With such temptation, how do you make sure your money won’t get wasted?
Before you click “buy,” consider these six questions to make sure your software purchase aligns with your goals and needs.
1. Does this software solve a real problem or fill a specific need?
Does the software fit into your plans for the coming year? Too often when we see an 85% off deal, we abandon logical thought, and buy on impulse.
Pause first to evaluate if the software addresses a genuine challenge in your business, and if it will produce a return on your investment.
Tips:
> Write down your key business pain points before Black Friday, and what software could provide a solution.
> Make a list of specific tasks or processes you want to improve, such as tracking expenses, generating leads, or scheduling social media posts.
> Will this tool enhance your productivity or help you achieve a business goal, such as saving time or increasing revenue?
2. Does the software integrate with your current tech stack?
A shiny new tool is only helpful if it works seamlessly with your existing software. Check for integrations with essential tools like your CRM, email marketing platform, or payment processor.
Tips:
> Review the software’s integration list on the product’s website or documentation, and confirm it can connect with tools you already use.
> If integrations aren’t listed, explore options like Zapier, which connects many apps.
> Reach out to customer support or tech forums to see how other users have handled integration challenges.
3. What is the total cost of ownership?
A discounted subscription might hide long-term costs.
Many discounts apply only to the first term, with prices increasing on renewal. Are you able to afford the software should the price dramatically increase the following year?
Are there additional fees for upgrades, add-ons, or usage over a specific limit?
Tips
> Reach out to the company’s support team to clarify potential hidden costs. Ask if features like reporting, storage, or customer support incur extra charges.
> Search for third-party reviews on sites such as Product Hunt, Capterra or Software Advice for any mention of pricing surprises or extra fees.
4. Can you commit to learning and using the software?
No matter how great a deal looks, it’s wasted money if you don’t use the tool. Consider how much time and effort it will take to learn the software and add it to your workflow. If you’re too busy to onboard a new tool, the cost outweighs the benefit.
Tips:
> Look for platforms with user-friendly interfaces, and robust tutorials or support such as concierge onboarding services.
> Check for online courses, tutorials, or a knowledge base that simplifies the learning process.
> Read user reviews to gauge whether the software is beginner-friendly or requires extensive training.
> Consider hiring a software implementer to help you set up the tool.
5. Do you trust the software provider?
Black Friday and Cyber Monday can attract unreliable vendors offering subpar products. Research the company’s reputation, read customer reviews, and ensure their support team is responsive.
Tips:
> Stick to established brands or well-reviewed newcomers with transparent business practices.
> Search for reviews on trusted platforms like G2, Capterra, or Trustpilot to understand user experiences.
> Verify that the company provides accessible customer support via email, chat, or phone.
> Avoid one-time purchase software deals from unknown vendors, as they may lack updates or support.
6. Is there a free trial or money-back guarantee?
Even after thorough research, you may discover the software isn’t the right fit. A free trial or money-back guarantee lets you test the tool risk-free. Avoid deals that lock you into a long-term commitment without offering a way to back out.
Tips
> Double-check the terms and conditions for refunds or trial periods before purchasing.
> Some vendors may offer a trial version with limited features. Make sure it’s sufficient to assess the software’s usefulness.
> Check for refund windows and if refunds are easy to process or tied to specific conditions.
> Use the trial period to test not just the software, but also the customer support responsiveness.
In short…
Software deals during Black Friday and Cyber Monday can be a great opportunity to invest in your business, but such deals must align with your needs and long-term strategy.
Software Battle of the Week
Last week’s newsletter covered the problems WordPress has been having with WPEngine, and how the dispute has affected WordPress’ reputation in the website industry.
As end users of software, entrepreneurs who have the most to lose are often the last to hear of such problems. As much as possible, this newsletter will track issues that could affect your tech stack and your business.
As promised, I’ve provided an overview of Ghost.org, an alternative to WordPress, in this article. If you’d like me to cover any other topics, please let me know at newsletter@softwareroiguide.com.