Black Friday/ Cyber Monday/ Black Cyber/ Holiday Season – the last 2 months of every year are the most awaited both for shoppers as well as business owners.
In this article, I plan on laying out the facts, giving you proof, showing you exact ways and providing you strategies on how you can make this Holiday Season the best Holiday Season of your life.
Is Black Friday & Cyber Monday really such a big deal?
Yes, it is. And here are numbers to back this theory.
Going by these and tons of such stats on the internet, Black Friday and Cyber Monday are truly a big deal.
Black Friday, Cyber Monday – Predictions, Forecasts and Trends
Times are changing and more and more people are opting for online shopping ever year.
So, how to prepare your store/business for the highest-grossing months ever?
Trend 1: Cyber Monday will last for a month
According to stats, 62% of shoppers aim to start shopping early inorder to avoid items being out of stock. So gone are the days when you had to wait until Black Friday or Thanksgiving to send out your offer email. The trick now is to START EARLY.
What you can do?
- Instead of commencing your Holiday Sale on Thanksgiving and going up to Cyber Monday, start it early on.
- Once you start the sale way before Thanksgiving, promote it well and make your audience aware of the sale.
- Make sure you promote your sale on mediums like social media, emails, deal sites etc.
Trend 2: Online shopping will boom. Even more.
Ever since Covid has restricted people from venturing outdoors, more and more people plan on shopping online. Around 69% of US shoppers plan to shop online this Holiday Season.
What you can do?
- Make your online presence more appealing.
- Revamp your site, work on SEO, invest in ads, add good product images, display testimonials and most importantly make your site mobile compatible.
Trend 3: Ride the YouTube wave
Since more and more people plan on shopping online, they will turn to online advice as well. Over 70% of shoppers admitted that YouTube makes them aware of newer brands and influences their buying pattern.
What you can do?
- Tie up with YouTube influencers in your domain.
- Ask them to promote your product/deal. Invest in running ads on YouTube.
- If you have a YouTube channel of your own, create some product videos and promote them.
Just like YouTube, online shoppers turn to reviews from other customers especially the ones which are on review sites like Capterra, G2Crowd, Trust Pilot etc.
What you can do?
- First research which review sites have your competitors hosted. Then create profiles on such review sites.
- Ask your existing customers to drop a 5-star rating about your product/ service.
Building your reputation/ credibility on such sites will have long term benefits. So it a good exercise to perform all throughout the year and not just in the last 2 months.
Trend 5: Promote your offer everywhere
Black Friday Deals tend to get lost in the noise. Reason being, everyone if running offers everywhere. So you need to stand out.
What can you do?
- Go to deal roundups and deal sites and research well.
- Find out what offers your competitors are planning to run.
- Based on the findings, create an offer that will be irresistible to your audience.
- Another strategy is asking your existing customer base what offer/product they would love to have and then designing something which the majority ask.
- Lastly, make sure you submit your deal to deal roundups, deal sites. Promote it on social media, among your circle, among your affiliates etc.
These were few trends and ways you can leverage on them. Moving forward, let’s look at how you can study your own business and take actions that are well suited for your audience.
[Personalized] Actionable Black Friday tips for your eCommerce business
Every business is different. So applying a strategy that has worked for others might not have the same effect on your audience. The best way to deal with this uncertainty is by looking at your own data and then taking necessary actions.
Look at the past and plan for the future
Evaluate how your business performs during the Holiday Season. Don’t just look at the past year’s data but do a comparison between different time ranges.
Putler’s Holiday Insight dashboard is a goldmine for this evaluation. All you need to do is, select the date range you want to get the data for and then compare it with another date range.
Actions you can take for your eCommerce store from the Holiday Insight Dashboard:
1. Revenue during Holiday Season- Look at this metric and identify which Holiday Season performed better and look back at the offers and emails from that period. Replicate the offers, emails of the year which had the best performance.
2. Daily average – This metric tells you which period ‘Holiday’ or ‘Non Holiday’ days perform better. Based on the numbers you can then incorporate the same promotional emails, techniques which brought you more sales.
3. Best Holidays – Based on this metric, look back at which Holiday – Halloween / Black Cyber / Christmas performed better and in which year. You can then look back on what strategy was applied during the most profiting holiday and replicate it.
4. Best Products – Take a look at the top 3 products and then design exciting offers for the same products for the upcoming holiday season. You can also choose to showcase these products separately within your emails or on your homepage.
5. New vs Returning – This metric will help you decide on how much energy to spend on gaining new customers and servicing existing ones. Looking at these numbers you can easily decide on the amount of effort you/ your marketing team needs to put in for the upcoming holiday season.
Time is of the essence
Timing is everything. And especially during offers like Flash Sales which run for a limited time period, it is very important to pick the right time of the day and the right day of the week to run such offers.
Putler’s Sales Heatmap will help you analyses which day and what time gets your eCommerce store the most sales.
- Select the date range of when you held your last Holiday Season sale and spot the days, time having the darkest dots.
- Plan a flash sale/ live chat during these days, time.
This will help you make even more sales in the upcoming holiday season.
Offer relevant bundles
Don’t you love when sales people offer you relevant products or give you helpful advice? Now what if your online store does the same for your customers? What if you pitch products that go really well together rather than just random ones? Better even, if you offer them in bundles at a discount. Right?
Putler’s Frequently Bought Together feature helps you do this based on past data and zero guesswork.
- Scan through the various products and spot the products that are frequently bought together.
- Once spotted, create bundles of such products and sell them on discount.
- Another way to leverage this metric is, Find customers who have purchased product A and haven’t purchased product B (You can do this by using Putler’s custom segment feature and exporting the list). Send them an email offering product B with a special discount.
Result: Customers get what they want in the form of a discounted bundle and you get more sales.
Segment customers and send targeted emails
Holiday Season is the best time to send out targeted emails. And with Putler the possibilities to segment your customers are endless.
Putler allows you to segment customers based on various parameters.
- Segment customers based on geography and send out offers emails. For example: Halloween is a holiday celebrated mostly in the US. So create an offer and send out an offer email to only your clients in the US.
- Segment customers based on the product they purchased – Suppose you have complementary products on your store. Segment customers based on the product they purchased and send them an email offering the complementary product at a discount.
- Segment customers based on their shopping behavior – Identify various customer segments like loyal, champions and offers them a discount. While for segments like ‘Lost’, ‘At risk’ etc. you can send them a store credit and encourage them to make a purchase.
Play on Price sensitivity
Price is the final factor which determines if a customer goes through with a purchase or not. So what if you could offer a price that a customer would always be okay to pay? It would be great right? With Putler this is possible.
Putler divides your customer base as per the price ranges they have purchased on your store. Based on these ranges, you can export the clients and then send them products that fall in the similar price range or offer them discounts which add up to the same price range.
Revive lost customers
Holiday Season is the best time to revive old customers. As the prices are low, customers who have previously churned out of your business, find it be less risky to invest again in your business.
The trick here is to showcase your product in a new light – show the best selling features, tell the audience why this time would be any different, show them proof and then show them the discount.
Using Putler, you can filter customers who have asked for a refund in the whole year and then reach out and revive them.
Launch Smarter Paid Ads Campaigns
Paid ads for tons of potential. Both to make and drain money. So it becomes very important to invest smartly.
Using Putler Audience dashboard you can take some strategic decisions:
- Countries to invest in – Look at this metric to find the top 5 countries that bring in revenue. Target your ads only in these countries.
- Platform – Check which platform brings you high quality traffic. Choose only the best performing platforms to run your ads.
- Device – Similar to platform, analyse which device pulls in quality traffic and target your ads only on devices that bring you revenue generating customers.
Let’s get started
Hoping these tips, trends and strategies help you make this Holiday Season the best ever. If you are already a Putler customer, feel free to try the strategies out. If you have any questions, reach out to me via mail or via comments and I will schedule a one-on-one time to answer your queries.
If you are not a Putler client but still want to leverage on Putler, take Putler’s 14 day free trial and get all these personalized insights for your business.