It’s no exaggeration to say that 2020’s Black Friday and Cyber Monday (BF/CM) will be unprecedented for Brands selling online direct to consumer. With the days of hitting the shopping centres to browse for bargains few and far between. Consumers are flocking online to shop and this shopping season will spend more and more time browsing online instead of checking the aisles of their favourite stores. How can Brands take hold of this opportunity and entice shoppers?
With over 15 years working with leading Brands across the globe, Luzern eCommerce shares proven Black Friday marketing strategies that drive more online conversions during the biggest shopping season of the year.
Reward Your Loyal Customers & increase Customer Lifetime Value (CLV)
That lucrative sale is more likely to happen if you recognise and reward loyal customers. To ensure customers, regardless of where they are shopping from, will want to return to your online store to check out your seasonal deals, you need to deliver a personalised experience that goes beyond just design.
Timely and relevant communications
If a customer has made a recent purchase, your brand is still fresh in their mind. It’s important to reach out to these recent buyers and offer them targeted and personalised offers.
Reactivate Previous Customers
Contact former customers with special offers such as a VIP discount code that offers them even more savings when they buy. Since they’ve already bought from you before they are more likely to check out your offer and buy again.
Use Digital Coupons
Shoppers typically feel better about entering a code, and are therefore more likely to take advantage of that code, rather than a blanket deal available to everyone. In today’s digital Christmas season, shoppers are typically open to preloading coupons on their device and searching for deals at checkout. Reward your customers with unique or one-time-use codes that drive repeat business and support ongoing brand loyalty.
Manage Price Points & Sell At The Price That Fits Your Pricing Strategy
Brands can tackle squeezed margins on the run up to Prime day even if they find themselves under extraordinary margin pressure when selling to Amazon directly (1P). This is generally triggered by the price war to win the buy box. Amazon will, of course, seek to maximize their margins and push what is selling best. They then make it clear to the Brands that they need better prices or they will stop ordering some or all of the products. This can equate to millions in lost revenue if the “demands” aren’t met. If you sell direct to Amazon via the 1P program, Amazon acts as a retailer and can implement price adjustments independently. However, if you use the Amazon Hybrid Selling Model, Brands have price autonomy over their products. The Hybrid Model delivers flexibility and gives more control back to the Brand.
Focus on average order value
Having a high average order value can offset your advertising costs and create a larger profit margins, this is a good strategy and gives Brands an alternative to offering a blanket discounts.
Add New Product offerings and/or unique Bundles based on buyer behaviour:
It’s important Brands understand who their customers are, and how they like to shop. You can use this shopper and customer behaviour data to understand their digital footprint and what that means for your Brand and selling strategy, especially around the holiday season.
Based on these insights Brands can offer new products and unique bundles.
Giving the customer what they want and an attractive price point will always pique their curiosity.
You can add new exclusive Black Friday bundles to boost that day’s sales. Advertising the fact that it’s a “Black Friday Exclusive” always helps!
Be Smart with Your Ad Spend
On the run up to BF/CM the advertising spend by most Brands will jump. Many are happy to increase the spend as they see sufficient RoAS. If you increase budgets to drive traffic it makes sense to also to be smart about bottom of the funnel tactics. For example, if your products are selling on Amazon, be sure to spend money carefully at the SKU level to drive conversions.
Sharpen your Cart Abandonment rate strategy:
Reduce lost sales with a proven approach to cart abandonment. Deliver friendly reminders, and time based prompts to ensure no sale is left behind.
Use that Email List to your (& the shoppers!) Advantage:
Speak directly to your customers with targeted emails with exclusive promotions. You can educate, up-sell and cross-sell with relevant and timely offers and promotions.
Extend Your Sale From Black Friday Until Cyber Monday & Beyond
Year on year we see the “Black Friday” theme, and timeline, growing! The explosive growth of eCommerce means that BF/CM sales can extend for days or even weeks. By extending your sale, you’ll be able to draw in more customers and sales.
For more information about any of the strategies above please feel free to contact us.