Black Friday and 8 Marketing Strategies
The past 2020 was a record year in many ways:
Online sales on Black Friday rose 22% year over year to $ 9 billion worldwide.
49% of people shop online, more than before COVID-19.
100 million consumers are buying online, up 8% from last year.
In 2020, the average conversion rate increased by 3.8% compared to 2019.
The statistics speak for themselves, so don't miss your chance to make money on the most profitable day of the year. In this article, we'll cover strategies to help you increase your website traffic and merchandise sales on your shopping day.
1. Social networks.
A place where brands share engaging content that makes them want to buy. This is what your social media page should be like. Make the most of social media and advertise your promotions, remember to fuel a sense of urgency in shoppers, but keep a balance between a tempting offer with an expiration date and tight time constraints. Customers will be frightened by the screaming "BUY URGENT!"
Most people browse products on the site, compare offers with other analogs, and accordingly leave your site without buying anything. However, do not rush to get upset, for some customers it is important to evaluate competitors and think about a future purchase. With the right marketing automation approach, you can target your ad campaigns to customers who just visited your site, checked in but didn't pay, signed up but didn't purchase, or create customized emails based on their preferences.
“Buy-One-Get-One free” is when customers buy one item and receive a similar item for free or at a discount. This customer acquisition technique is very powerful and effective. Black Friday is a great time to use this technique to build interest and build loyalty with your store or brand.
Having chosen one product, the buyer is a priori configured to be loyal to purchases on your site, so do not miss the opportunity to offer him a related product or a more expensive version of his product. This will increase your profits, and if you customize the highest quality selection of related products, then customer loyalty to your store. “Maximum quality selection” - it is understood that you do not offer a random set of more expensive products, but thoughtful coherent ones according to need.
5. New product.
People are always interested in new products and if you have a new product, then Black Friday is the time to present it. Of course, before the presentation you need to advertise, interest, and intrigue the audience. You need to create excitement around your new product, use your social networks, blog, collaborate with opinion leaders, carry out promotions in stores.
The advantage of a new product is the increased focus on your brand, store, or company. This is an additional way to increase the number of sales of both existing and new products, as well as attract new customers.
6. Plan your marketing strategy ahead of time.
The world is unpredictable and people tend to make mistakes, but the work must be done on time! Therefore, consider as many risks, errors, and various delays in the execution of work as possible. Create several test advertising campaigns and test them in practice. Earlier we wrote the article "Black Friday: preparation plan for online stores", it will be useful for retailers to read.
An advertising company should be interesting, make people want to read the terms and conditions, and evoke a sense of urgency.
7. Individual approach to everyone.
A wealth of research has proven that a personal approach increases conversion rates, your product value, and your sales. Demonstrate interest in customers, save their purchase history and create new promotional offers based on it, carefully think over the list of offered products for each customer. When contacting a customer, use his data, this always increases brand loyalty.
8. Increased attention to your loyal customers.
Surprise your regular customers with some kind of pleasant token. There can be various incentive options: a new level of service, a VIP loyalty card, or creating a loyalty program if you don't already have one, a permanent promotional code, or other types of rewards.
This will help renew customer interest in a brand, company, or store.
Now is the best time to launch advertising campaigns and promotional offers on the Internet. Use this month for maximum profit!