Black Friday (and Cyber Monday) are huge opportunities for online businesses to make some big money, with an estimated £1.23bn being spent online on the day itself and £6.5bn across the whole week according to the BBC.
For this reason, it’s massively important that your business has a Black Friday strategy in place, otherwise, you’re missing out!
Here are our five top tips to ensure that you make the most of this once in a year opportunity.
Plan Your Sales Early
It’s never too early to start planning for Black Friday, with people starting to research their Christmas shopping earlier and earlier.
According to this infographic, as many as 38.1% of shoppers start before November, with 13.8% of those starting before September!
Take stock of all your products and map out what sales you’re going to offer well ahead of time, instead of trying to sort it all at the last minute.
Consider making yourself a spreadsheet with all of the products that you’re going to discount, as well as the start and end dates of the promotion to make things easier.
You should also have all your AdWords sorted out well in advance and remember that you’ll probably need to increase your bid prices for this busy period.
Prepare for Demand
If things go as planned, you’re going to be receiving an unusually high number of visitors to your site in a short period of time, and while this is great for sales, it could cause some issues for the site.
Having too many requests to view the site could cause it to either slow down considerably, or even crash, which is a worst-case scenario.
You also need to make sure that you and your supplier have got enough stock to cope with this increased demand; the last thing you want is to sell out and be left with angry customers.
Always have a contingency plan in place, just in case anything does go wrong, whether it’s running out of stock or the site going down.
Of course, there’s already a good deal of hype surrounding Black Friday and Cyber Monday and your customers will probably already be expecting some kind of promotions, but there’s a lot that you can do to help drum up some more excitement.
Teasing the upcoming deals and posting sneak peaks across social media in advance is a good way to get people talking about your business, helping to build up momentum before the big day.
And email marketing is as important as ever, so be sure to incorporate this as well. Here are eight email marketing techniques specifically for Black Friday to help give you some inspiration.
It’s also worth trying to reach out to see if you can gain any sponsorship deals with blogs or gift guides. Try to find bloggers or publications which are talking about your niche on social media and get in touch to see if they would be interested in featuring your products and promotions.
Think Carefully About Your Promotions
Black Friday isn’t just a case of slapping a discount on some of your products and hoping for the best; you need to think strategically about the promotions you’re going to put in place.
One common tactic is to have one big marquee deal which gets people coming to the site, with the idea being that they’ll hopefully pick up another few items once they’re ‘through the door’.
A bit part of Black Friday’s appeal is the idea that you’re getting a great last minute deal, so try to build in some element of scarcity such as a countdown timer or a ‘limited stock’ banner.
It’s also a good opportunity to reward loyal customers who have bought from you before, through emails and retargeting, by offering them special offers or early access to your Black Friday sale.
Set Up Tracking
What good is it setting up all of these fantastic offers if you can’t see how successful they’ve been? Obviously, you’ll hopefully see it in the revenue pouring in, but you should also be setting up more sophisticated analytics tracking.
The best way to do this is with Google Analytics, which is totally free and allows you to track a huge range of metrics.
You’ll also want to keep an eye on the competition to see what they’re doing for Black Friday. It’s a good idea to subscribe to your competitor’s email lists for this purpose.
If you require any further advice or services regarding your eCommerce store in the run-up to Christmas, be sure to get in touch with us here at Liquid Bubble and we’ll be more than happy to help.