The best season to target more sales is the BFCM. For the eCommerce industry, the holiday season (BFCM) is a world cup match.
In 2018, with close to 7.9 billion U.S. dollars spent on online shopping, Cyber Monday became the biggest U.S. online shopping day ever.
As an eCommerce business owner, you need a solid business analytics software that takes care of everything at your desk to make decisions and build strategies.
Shooting in the dark won’t get you results. You have to be data-driven to make educated guesses to make profits that you desire and deserve. In this post, you will discover not just the strategies but the actual actionable steps on how data can be used this BFCM.
1 Tool, 8 Hacks
We at Putler have curated eight hacks that you can take action on right away!
Putler takes care of all of your business analytics. It runs on auto-pilot mode, gathering and visualizing the data from the different sources and provides you reports at a single glance.
Let’s dive into implementing Holiday Season strategies using Putler:
Hack 1: Identify the best selling time on your store
Identifying the best times of the week to target the customers is a tough task that is not available with the other analytical tools.
Putler specializes in showing the heatmap of the sales in a week so that you can plan a strategy accordingly.
Go to Sales Dashboard > Check out the heatmap on the right side of the screen showing the sales intensity at different hours of the clock.
Once you identify the best selling time on your store, you can take strategic decisions like:
- Keep a flash sale at the highest selling time
- Put on a live chat to engage customers and pitch them more products
Hack 2: What worked last year, will it work this year or not?
The customers’ sales behaviour won’t stand the same every year. It will change based on their purchase power, trends, offers available from the competitor, and due to the change in taste and preferences.
If you don’t have Putler, you may have to put the sales graphs, excel sheets in front of you without and do the comparison manually.
But with Putler, this task is a breeze!
Putler has a new insights option on its dashboard that compares the sales revenues between two specified timelines.
Go to Insights Dashboard > Click on the dropdown > Change it to ‘Holiday Season Comparison’. A similar window as shown below will appear. Do your comparisons right on a single screen, summarized.
Compare how your store has performed in the year 2017 and 2018 during the Holiday Season. Looking at these numbers will help you know what worked and what did not.
Based on this you can easily take profitable decisions like:
- How much discount works for your audience?
- What type of promotion strategy worked?
Hack 3: Who is more likely to take my offer?
Imagine what if you knew the customers that would take your offer? Wouldn’t that be super cool?
It would cut you all the extra work and help you reach out to customers who will definitely take your offer. Right?
Well, the way you identify such customers is really simple. They are called discount buyers. They are a special category of customers who buy whenever there is a discount.
Now if you don’t have Putler, you will have to go into your database, check orders and manually find out the customers who have purchased during the last Holiday Season.
But if you are using Putler, here’s how simple identifying such customers becomes:
Log in to Putler> Sales Dashboard> Select the date range to be the exact dates when you had the Holiday Season sale for the last year
All the customers that bought during this range will get populated in the grid below.
These customers are the ones who purchased during last time’s discount sale – making them discount buyers.
What you do next is, export these customers and send them your this years Holiday Season offer.
Chances are these customers will grab your offer more than the rest of your customers. Try it out.
This hack works not only for the Holiday Season. If you kept a major sale/ offer at some point in your business, export customers who purchased during that time and see similar results.
Hack 4: Freebies? Which product can I afford to give as freebies?
In a competitive marketing environment, freebies have their prominence. But deciding which products to be given as freebies is another battle.
Now generally, people create a freebie or randomly pick a product and give that as a freebie.
But using Putler, you can get data-driven and make smarter choices.
Go to the Products Dashboard > Product Grid > Scroll to the lowermost products
The last two products are the perfect candidates to be given as freebies. Why?
Firstly, because they don’t sell anyway. Secondly, they are of value and that’s why they are being sold on your store, right?
Giving away products as freebies rather than resources will make the freebie more attractive and valuable.
Hack 5: Which products have more chances of getting sold together?
It is easy to attract customers with combos rather than single products. So, which products should be sold together as combos?
Finding this with Putler is just a click away. But incase, you don’t have Putler, you will need to go to your shopping cart system > go to each order and jot down which products get sold together. You can analyse this for around 2 months and then identify which products get picked together.
Putler has this option. Just go to Products > Select a product from the list and then click on ‘Frequently bought together’ tab for list of products that are bought together.
Incase there is a product which is bought together with the product you selected, it will be shown there.
You can then start upselling this frequently bought together product whenever a person is buying the selected product and in the bargain increase sales.
Frequently bought together products can be used while upselling, downselling and also used while creating combos.
Hack 6: Free coupon to loyal customers
Loyal customers are always to be rewarded. It is one of the best ways to keep a stand in the market tackling the competitor’s strategies.
But identifying loyal customers is a real challenge. Businesses find it very difficult to keep a track of which customer is loyal and who is not.
Using Putler, you don’t have to worry about this at all. Putler automatically processes all your customer data and using recency, frequency and monetary value segregate customers who are loyal.
All you do is, go to the Customers Dashboard > Click on the Loyal segment on the RFM chart
All the loyal customers that fall in the date range selected get populated. You can then export these loyal customers and send them an email showering them with extra love in the form of a gift or a free coupon.
Not just loyal customers, you can make any RFM segment be it hibernating, champions, about to lose etc feel special by crafting a email specially for them and giving them a little something as encouragement.
Hack 7: Country-wise landing page
English is a global language but think about reading a sales page in your own mother tongue. Moreover, something which makes absolute sense and which is not just a Google translated page?
Would be much more appealing right?
Now I’m not telling you to make country-wise landing pages. What I’m telling you is something much more structured and simple.
Also since Putler has the easiest way to do is, I will be explaining the Putler way here.
Log in to Putler Beta > Sales Dashboard > Look at the Country Facets.
Putler will list the countries in descending order (countries which give you the maximum revenue)
Next, click on the topmost country, all the customers from this country get populated in the grid below.
Export these customers and send them an email in their mother tongue or direct them to a sales page in their mother tongue.
This is a great way to standout and make customers feel special.
Not just for existing customers, once you know that a particular country gives you majority revenue, you can create a special landing page for it and ask people to choose which landing page they would like to view once they land on oyur website.
Hack 8: Order status emails
Putler Beta provides you order statuses like – Completed and Refunded. Now generally, refunds are considered taboo. And once a person asks for a refund, business owners tend to sideline such customers out of rage. But that’s wrong.
Customers that ask for a refund are gold. Sending them an email asking about their experience will provide you with excellent feedback. Also solving their queries even after a refund can help you win them over for your business.
Putler provides you a readymade filter (facet) called ‘Refunded’ which when clicked gives you all the customers who have asked for a refund in the selected date range.
You can export this list and send them a feedback email and take forward the conversation thereafter.
Generally refunded customers are the customers who were serious about finding a solution but your tool failed to work for them. So with a little handholding, these customers can become great prospects for your business.
Over to You
Hope you liked these 8 hacks. Do try them out and make this Black Cyber a super success!
You analyse your BFCM performance.
Here’s how Putler can analyse your BFCM Performance within few clicks