Black Friday is fast approaching, which means that discount enthusiasts have begun their countdown and the shopping frenzy is about to ensue. Year after year, this seasonal craze grows bigger and bigger, showing zero signs of slowing down.
According to a Salesforce report, $63 billion was spent globally on Black Friday sales in 2021.
- The benefits of Black Friday
- Black Friday ecommerce trends
- Black Friday ecommerce strategy preparation
- Building your marketing strategy
- Retailer strategies
- Black Friday ecommerce best practices
- Key take-home points
Although an important day for customers, Black Friday is a key event in every business calendar. Not only does it give companies the chance to amass greater sales, the opportunity to acquire returning customers is at an all time high.
With that being said, advertisers can find it extremely challenging to stand out in a market overflowing with competitors, all vying for the same attention.
Throughout this article, we will take a deep dive into actionable strategies that you can implement to maximize your sales opportunities, as well as some additional ecommerce Black Friday tips.
The benefits of Black Friday
This retail phenomenon is synonymous with massive discounts across a range of items, spanning various industries. However, these price reductions do not signify a loss in profit.
In fact, Black Friday offers a host of benefits, both for your bottom line and overall business operations. These include;
Increasing in traffic & sales
Customers prepare themselves months in advance for this commercial festivity, devising elaborate wish lists of items they hope to secure a bargain on. They are shopping with an intent to purchase.
Even the most passive of customers will surrender to the promotional fanfare. They will search for brands that have piqued their interest in the run up to November 25th.
Therefore, when supported by a strong Black Friday ecommerce strategy, you can propel engagement and acquire greater conversions.
Businesses have the opportunity to take stock of their inventory, and redistribute slightly older items for a discounted price. This is financially rewarding, as unsold stock is worthless.
This can be particularly lucrative for fashion ecommerce stores, as many people will purchase discounted spring/summer staple items in preparation for the next year.
Greater customer acquisition
Generally, customer acquisition can be a painstaking and expensive process. However, Black Friday provides the perfect moment to acquire customers, as they are actively searching to be engaged.
By offering an enticing promotion, you can incline customers toward a transaction. A positive user experience and a quality product or service can then give way to future repeat purchases.
Before you know it, you will have created a loyal customer that regularly buys products at full price.
Black Friday ecommerce trends
As to be expected, how advertisers market their promotions is hugely impacted by current trends. Customer behavior and popular marketing techniques greatly influence how a business positions themselves within the price promotion madness.
To help you stay ahead of the curve, we have identified four predominant Black Friday ecommerce trends to bear in mind for this year.
Early Christmas shopping
Due to its close proximity to Christmas, many people use Black Friday to complete the bulk of their gift shopping. According to Salesforce research, 42% of people across the globe intend on purchasing Christmas gifts earlier.
Considering that the average person will buy gifts for multiple family members and friends, this saving event is the most opportune time to make a purchase.
The customer journey is encompassed by a number of touchpoints. During a time when competition for conversion is increased, it is imperative that you are readily available across all channels, at all times.
According to CommerceHub, 86% of shoppers will go between at least two of a brand’s marketing channels before committing to a purchase.
By being present across platforms, you can nurture the user where necessary. Posting customer testimonials on social media, sending informative emails or issuing reminders via SMS can gently guide them towards the checkout.
Payment option selection
One of your business’s primary objectives must be ensuring that the purchasing process is as simple as possible for a customer. This entails offering a broad range of payment options, stretching beyond just credit or debit cards.
Buy Now, Pay Later has fast become one of the most popular payment methods chosen by consumers, with over 360 million people worldwide using this service for their purchases.
Considering this Black Friday ecommerce trend may substantially decrease your shopping cart abandonment rates, as users can pay according to their preference.
Black Friday ecommerce strategy preparation
Failure to effectively strategize can seriously hinder a business’ financial performance. This is particularly true for the busiest times of year, where competition for custom has skyrocketed.
Depending on the industry, there are a variety of preparations a business can carry out before finalizing their Black Friday ecommerce strategy.
Begin strategizing early
Experts suggest that a business should start forming their marketing strategy at least three to four months in advance.
Although this may seem excessive, this period enables you to continuously edit and adapt your campaign blueprint according to developing customer data and new trends.
Expect tough competition
Black Friday is one of the most popular shopping holidays of the year, so advertisers must expect to throw down the gauntlet in order to differentiate from their competitors.
When planning your campaigns, it would be wise to analyze previous and current promotional material from your main competition, as well as content that has performed well across your industry. This insight can aid your business in deciphering ways to elevate your creativity and capture greater engagement.
Allow for increased budgets
Given the popularity of the event and the search volume of the keywords that accompany it, you must prepare to set aside a higher Black Friday ecommerce advertising budget.
Last year, the CPC (cost-per-click) for Black Friday increased by 35% in comparison to the November average.
Although you can implement cost-effective alternatives, including social media content, the necessity of paid advertising is inescapable if you want to be heard above the noise.
Building your marketing strategy
Having considered the above mentioned preparations, a business can begin to constructively build upon their marketing strategy, employing additional Black Friday ideas for ecommerce that coincide along the way.
To begin formulating this plan, you should consider the following;
A prospecting campaign is fueled by large sets of data that stand to highlight a customer’s intent and establish their likelihood to engage with your brand. This data can be acquired from multiple sources, including your social media, email and advertising platforms.
Prospecting can be beneficial in the lead up to this commercial event as you can gain invaluable insight into user behavioral patterns. Your improved understanding of your ideal customer will allow you to adapt your targeting tactics accordingly.
Better nurtured customers lead to greater sales opportunities.
In addition to new customers, you must remember the previous customers that already possess a familiarity with your brand. They may be people who have purchased from your business in the past, or abandoned their cart at the final step.
These leads that have a displayed engagement with your product offering have their own existing data set within your system, meaning your business has actionable insights already available.
One of the most efficient ways to apply these insights is to establish a Facebook Custom Audiences integration with your CRM. This integration enables a business to reconnect with leads who have previously shown interest in their product.
Through a matching process across a range of identifiers, such as email subscription or website visits, your ads can be shown to your re-targeted prospects on Facebook, Instagram and Audience Network.
As a META partner, LeadsBridge can facilitate the seamless integration of Facebook Custom Audiences with the rest of your marketing stack. This way, you can keep your lead data updated in real time, perfect for adapting your Black Friday ecommerce strategy.
Now that the foundation of your marketing strategy has been set in place, you can begin to take a more focused look at the finer details of your campaigns.This includes the methods you will use to capture consumer interest.
For some inspiration, we have compiled a list of seven tactics you can implement to seize attention and encourage conversions.
1. Gift guide creation
We now know that customers have an increased focus on shopping for Christmas gifts this Black Friday, which means you can begin to plan content that caters to this trend.
Gift guides are a clever way to showcase your product range in a highly shareable format. Businesses have the opportunity to get creative, engaging customers with high-quality product visuals and concise information.
Additionally, these guides can draw a customer’s attention to an entire range of products they may not have had a previous interest in. According to Meta, over 63% of shoppers revealed that they enjoyed discovering items they weren’t actively looking for.
Keep in mind that online traffic for holiday and Black Friday gift guides typically gain traction around early October. Therefore, it is imperative to publish early in order to capture interest at the most favorable time.
2. Cyber Monday promotions
A Black Friday ecommerce strategy that cannot be overlooked is the extension of promotions to Cyber Monday. This is an event purely designed for online stores. In 2021, consumers spent a whopping $10.7 billion on Cyber Monday alone.
Knowing this, it is best not to exclude your business from the benefits this alternative promotion event may bring.
To differentiate between Black Friday and Cyber Monday promotions, you could offer;
- Exclusive product bundle gift sets (typically sold separately)
- Minimum spend rewards in the form of free shipping or a complimentary gift
- Influencer partnership discounts accessible only to their respective social following
3. Flash sales
Generally, retailers provide their prospects with blanket offers. Although these are effective, you can gain greater intrigue and drive more conversions by initiating flash sales.
These are recurring discounts that are offered for a limited time only. Usually, the price reduction or incentive to buy is much higher than usual. The sense of urgency to secure savings can substantially increase a customer’s willingness to buy.
4. Focus on email
Email marketing is one of the most effective product promotion methods within ecommerce. This rings particularly true for the Black Friday period, boasting the highest number of opens and link clicks.
Sending warm up emails a couple of weeks prior to the beginning of this major sales event will increase your chances of landing in a customer’s inbox at the right time. As well as this, you can build your brand reputation and increase awareness.
5. Abandoned cart rates
Introducing pop-ups to encourage customers to complete their purchase can hugely reduce the rate of cart abandonment. These attention grabbing reminders can refocus customer purchasing intent.
When partnered with a small incentive to complete a transaction, businesses can substantially incline users to commit to a transaction.
Bear in mind, cart abandonment by consumers shopping on a mobile device is more than 85%. Therefore, double checking that your website is fully optimized for mobile is vital.
6. Reward customer loyalty
Thinking beyond solely gaining conversions, businesses should consider contacting customers and offering them an exclusive discount in recognition of their loyalty.
Regardless of how big or small the savings, frequent existing customers will appreciate the sentiment of the discount. These gestures will aid the maintenance of a steadfast brand following and foster multiple future purchases.
7. Virtual spin the wheel
Some of the best Black Friday ideas for ecommerce involve the gamification of promotions.
By implementing a virtual spin the wheel on your website, you can engage customers by offering an added bonus to their savings, this may be something as simple as free shipping or an extra 10% discount.
Nonetheless, users will be enticed to take part. These features can also entice passive customers, as winning a small discount can increase their willingness to buy.
Black Friday ecommerce best practices
Going forward, armed with the knowledge of the value of a Black Friday ecommerce strategy, there are some best practices to keep in mind.
These are as follows;
Check your website speeds
Online competition during this shopping season is rife, and customers are fickle as their attention is being competed for. The loading speed of your website is a singular factor that could influence a user to transfer to a competitor.
Your website will need to possess the ability to host a mass of users at one time, offering a smooth, prompt experience for each visitor. It is worth remembering that online shopping is synonymous with convenience, and this includes time.
Using the correct platform
For successful ecommerce to take place, you must ensure that your business is using the most appropriate platform to host your website.
There are various options available to choose from on the market. However, Magento is one of the most popular
Magento is a platform that specializes in ecommerce websites and is built using open-source technology. This gives businesses the ability to take greater control of the appearance and functionality of their online store, without compromising the shopping experience.
Therefore, Magento is also a platform loved by many businesses due to its reliability, great features, and timely Magento development services.
With the help of LeadsBridge, you can automatically integrate Magento with your favorite marketing tools.
Choose advertising channels wisely
When it comes to Black Friday advertising, it is better to focus your spend and effort on the appropriate channels for your offering. You must palace yourself where your prospects are actively searching.
For this time of year, Google, Facebook and alternative social media platforms dominate the advertising ecosystem. By establishing a presence within the areas with a high search intent, your business is more likely to acquire greater visibility and final conversions.
Ready your customer support
This sales event is an incredibly busy time of year, with a high number of visitors attempting to complete a number of actions at once.
Therefore, it is imperative to ensure your customer support is equipped with the correct system to manage requests and attend to customer’s needs. This may include establishing a live chat, being active on email and answering phone enquiries.
Keep in mind that the level of quality customer service a user receives, along with their ease of experience, can considerably influence their likelihood of engaging with your business in the future.
Key take-home points
With November 25th fast approaching, it is easy for businesses to begin to feel the pressure to perform and amass huge transactions.
There are a plethora of tactics that have been incredibly successful for some, and not so much for others. One Black Friday ecommerce strategy will not necessarily work for all businesses. Therefore, give yourself plenty of time to develop your own methods specific to your objectives and customer base.
Consider automating certain workflows to allow for greater time to be spent on additional tasks. LeadsBridge can help your business to increase efficiency by offering multiple lead generation integrations that allow for the automation of lead syncing, audience targeting, online to offline data tracking and other advertising activities.
Discover all the available LeadsBridge integrations for ecommerce business.