Black Friday and Cyber Monday are widely regarded as the start of the holiday shopping season. Additionally, recent studies show that 64% and 87% of consumers, respectively, are aware of Cyber Monday and Black Friday. Both incidents have a significant effect on shoppers’ holiday shopping decisions. Many business people are still debating, meanwhile, whether Black Friday helps to increase sales or whether it hinders them.
In this article, we will not only discuss the main Black Friday marketing ideas but will find the main key points on how to attract more customers.
The Best Black Friday Marketing Ideas
Use email marketing
Before the onslaught of marketing, start your strategy by emailing your previous and prospective online customers, especially while your competitors are still deciding what to do. Social media is undoubtedly booming, but email marketing is a tried-and-true method of growing your clientele and sales.
Email marketing is the primary source of sales during the Black Friday promotion period, accounting for about 25.1% of all transactions.
Boost Your Sales via Social Media
According to a 2015 survey, 3.8 million social media posts mentioned Black Friday and Cyber Monday discounts. That is a huge number of online buyers to overlook. Since everything is happening in real time, planning your Black Friday social media marketing is both thrilling and difficult. People expect you to respond quickly since you can see what they are saying in a split second. To increase sales, you should mix up your social media postings before, throughout, and even after Black Friday or Cyber Monday.
Additionally, as today’s consumers spend an increasing amount of time scrolling through the newsfeed on their preferred social platforms, advertising on Facebook, Instagram, TikTok, and other social platforms shouldn’t ever be disregarded.
Initiate a Referral Program
According to Nielsen’s Consumer Trust in Advertising study, recommendations and referrals are the most reliable kind of advertising. Simply put, this indicates that most people rely extensively on the views of others to help them make purchasing decisions. Another study found that referred consumers can be a significant generator of brand loyalty and striking profitability compared to any other type of customer.
Add a Countdown Timer
Customers are sometimes difficult to please. Before consumers click the purchase button, they frequently like to compare your products with those of your rivals. This is supported by data on comparative pricing, which found that 94% of online shoppers take their time to find the cheapest item, with 36% of them continuing to compare shops for an additional 30+ minutes before making a final decision. You can help your customers decide right away and close the transaction by incorporating a countdown timer in your campaigns.
Use Flash Sales
A flash sale is typically an extremely brief promotion. Before the actual Black Friday and Cyber Monday, it is an exciting approach to build anticipation and increase sales. A few hours or even a day or two before the anticipated event is a good idea. A test of a flash sale resulted in a huge 236% gain in revenue, a 50% increase in conversion rate, and a 51% increase in traffic. Before thinking about implementing this strategy, you need carefully determine your boundaries and criteria because flash sales might be challenging.
How to Attract New Customers?
Special offers are still a powerful tool for driving sales and for grabbing customers’ attention. Here are three important lessons that retailers should keep in mind during one of the greatest buying times of the year.
1. Develop a detailed promotion strategy
Avoid falling victim to the Black Friday trap by not offering enough discounts. Therefore, it is even more crucial to carefully consider, pick, and include discounts and promotions in a merchant strategy as a whole. Potential clients may be drawn to your offerings, but businesses who consistently provide this kind of deal on Black Friday will find that 30% becomes the norm. For some retailers, adopting the “everything is discounted” strategy might even make sense. To properly grasp the benefits and drawbacks of discounts at each level, planning must be based on historical data and customer research, and it should take into account elements like product categories, roles, and other shopping events.
2. Differentiate discounts based on shopping behavior
Some people may start looking for a new coat as winter approaches, and they are amenable to suggestions on brand, color, and style. One would value being lured to a small number of things in the store more than 30% off everything. Furthermore, let’s face it: a potential consumer might also leave with a handbag and scarf. Instead, he or she can simply wait for the price to go down. Discounts alone were not enough to persuade a buyer to choose another product. A person will be really happy if the goods they have chosen are lowered by 30%, but if it is only decreased by 10%.
3. Offer additional benefits beyond the price
Retailers frequently believe that customers will be pleased with a larger discount. Contrary to what many businesses believe, not all shoppers are concerned about pricing. There are other more strategies to execute a successful campaign. Free samples, access to premium goods, or even developing a distinctive environment in your store can all be great marketing strategies. These methods could be quite successful when used in conjunction with strategic product positioning and a differentiated discounting strategy.
Every online marketer hopes for an increase in sales on Black Friday and Cyber Monday, but given the volume of holiday advertising, this seems like wishful thinking. To better understand his or her clients, the motivations behind purchases, and the permissible higher and lower price ranges, a savvy retailer will use whatever measure possible. Retailers should analyze sales and transaction data before, during, and after Black Friday in detail to ensure a favorable long-term effect.