More Black Friday shoppers are lining up at virtual stores instead of going in-store following the global outbreak. This means increased online traffic on Black Friday and huge potential revenue for e-commerce businesses of all sizes.
Black Friday (as well as Cyber Monday) is the crowned shopping season holiday, which implies that every business wants to make and sell big profits during this time. You can make a significant portion of your annual sales from the two or three weeks that involve Black Friday.
When the countdown officially begins, your marketing plan of action should be in full swing. This means you need to think months in advance about what your Black Friday campaign will include. Whether you are an online retailer or not, digital marketing campaigns are the key to the best Black Friday revenue.
To devise these marketing strategies, you will need to conduct market research and competitor analysis, and determine your current positioning. A good internet connection will be advisable to avoid disruptions or lags and ensure that you stay ahead of your competitors. Cox internet is a popular choice due to its fast internet, higher bandwidth, and reliable services. Additionally, they offer their customers the option of customizing their offers. This will allow you the time and ‘speed to market’ you need to gain a competitive edge.
The last thing you would want is to start developing your marketing strategy a week or two before Black Friday weekend. Not having enough time to examine buyer behavior, develop advertising plans, and set a clear sales goal is the biggest mistake in developing Black Friday marketing strategies you can make. This may even let your competition get ahead of you.
What is Black Friday?
A little history never hurt anyone. Let us give you a brief introduction to what this trend is so you know what the basis of your marketing strategy should be.
The Black Friday marketing campaign is a special sales strategy aimed at consumers looking for Black Friday deals. Effective Black Friday marketing combines influencer, organic, social media, paid marketing, and sometimes billboard or television ads as well. If done right, your Black Friday sales have the potential to contribute to about twenty to thirty percent of your annual revenue or even more.
Additionally, Cyber Monday is also a new tide in the market that has become an extension of Black Friday sales. Cyber Monday was introduced in the mid-2000s to encourage customers to make online purchases. It became even more popular in connection with digital goods. There is a four-day period between Cyber Monday and Black Friday. This can help extend sales or offers between those periods.
Black Friday conventionally is on Friday directly after Thanksgiving. It officially commences the start of the Christmas shopping season.
Black Friday has started wholly offline. Sometimes shopkeepers would come in with such appealing offers that deal-hungry shoppers flock ahead to participate. On the other hand, Cyber Monday is mostly online. It falls on the Monday immediately after Thanksgiving.
How to prepare for Black Friday
With so many customers expected to shop online again every year on Thanksgiving weekend, one thing is for sure: your online store will drive more traffic.
While this is good news, the downside is that without an effective e-commerce platform to support your business, high traffic can quickly lead to website performance degrading. This applies to both large stores and small e-commerce entrepreneurs. It is integral to cash on this opportunity. Here are a few tips to get you started:
Sometimes showing less will attract more people. If you are an online store, you can show your customers some of the popular products for sale. In case you are a SaaS company, you can display your product’s key features in a GIF or teaser video. Whatever you do, keep it aligned with the Black Friday theme, and do not forget to include the details of the deal, highlighting your noteworthy discounts.
2. Develop Email Lists
The effectiveness of email marketing increases during Black Friday sales. However, for your email marketing to be successful, you need to grow your email list with subscribers interested in your forthcoming offers.
In the weeks leading up to your big shopping day, create an email popup directed at new customers interested in your Black Friday deals. You can further encourage new subscribers by providing them free shipping, extra discounts, or gifts, depending on your budget. As Black Friday approaches, you can reward these subscribers with an additional discount or email them for early access.
3. Introduce new products
Buyers prefer fresh and new products or services. Therefore, it is worth taking advantage of the unique chance of Black Friday and promoting a new product that can be limited to only this day. It can take your Black Friday marketing strategy to a higher level. Even if any old customer bought your product once, this might attract them to make another purchase.
There are two ways to introduce a new product. First, you can include it before the big day. This has the potential to generate more sales ahead of Black Friday. The second option is to introduce the product on Black Friday.
A countdown timer can also make things more thrilling. This product might be something you think will only be obtainable on Black Friday. This generates an aura of urgency that prompts action.
4. Early bird discounts ‘
“The early bird gets a worm” or, in this case, a discount. You can use your existing or updated email list to post updates about your latest selection of Black Friday customized products. To make the VIP early booking discount work even better, you can use catchphrases or words such as “limited stock” and “nearly sold out” to create the idea of shortage.
Black Friday is a unique occasion that every small or medium business especially should use to its full potential. You will probably make the most of your yearly sales on Black Friday or between Black Friday and Cyber Monday. With some inspiring ideas you now own, you can further boost your sales by creating buzz and motivating your audience.