Four quickfire questions to optimise your Black Friday and Cyber Monday marketing strategy
Customers around the world are readying their credit cards for this year’s Black Friday and Cyber Monday (BFCM) sales frenzy. Indeed, the titular Friday of the annual late-November extravaganza has now become New Zealand’s biggest sales day of the year – surpassing even Boxing Day. In 2019, Paymark found that $253m was rung through the tills on Black Friday of that year, dwarfng the $150m spent on 26th December.
Further, a survey by Finder revealed that over half of Kiwis (53 per cent) will take to the shops on Black Friday (both physical and online) if the ofers on display are enticing enough.
The most important Black Friday ever?
This year, we can expect BFCM to be both bigger and more competitive than ever. As New Zealand gradually emerges from lockdown, the opportunity to catch up via BFCM – and then Christmas – is wide open. The competition for customers’ cash is going to be ferocious. So, it’s imperative that brands are doing all they can to get ROI from their marketing eforts.
Here are a few questions to consider to really get your BFCM marketing campaign humming and set up for even greater success.
Question #1: Is it simple?
Garish signs, fashing pop-ups and hot deals any which way the consumer looks; the window of opportunity you have to capture your customers’ attention on Black Friday and Cyber Monday can be measured only in nanoseconds.
Keep away from elaborate, wordy eDMs or ads with mountains of information to digest. Get to the point quickly and with little fuss – you can bet your time-strapped customers will appreciate it.
Question #2: Is it personal?
Deals matter for BFCM. However, you can also use personalisation and segmentation to supercharge your digital approach and therefore have less reliance on the perfect ofer.
With a record of your customers’ previous purchases and/or product preferences, you can serve them personalised ofers on the products they love and need. Indeed, an enormous 91 per cent of customers have stated that they are more likely to shop with brands that serve them relevant, personalised ofers and recommendations, according to Accenture.
By segmenting your marketing and advertising, and tailoring your messaging to certain demographics rather than settling for a blunt scattergun approach, you’ll give yourself a much better chance of converting those leads into tangible sales.
Question #3: Is it multi-channel?
Email, SMS, social, display and traditional media are all great on their own, but they’re even better when they’re integrated and working together.
Additionally, there are some added benefts to trying something new. Look at text messaging, for example. A study by Connect Mogul found that 90 per cent of text messages are read within three minutes of arrival, and the open rate of SMSs stands at a staggering 98 per cent. Keeping in touch with your customers via text opens up another personal path to them, rather than sending an email that could be left unread for weeks on end.
Social media advertising continues its unparalleled soar in popularity – indeed, insights by Sprout Social revealed that social media advertising is used by a huge 83 per cent of marketers. What’s more, only search engine marketing was found to be more successful in comparison to social advertising.
Our advice? Make sure you’re choosing the right platforms for your audience, and integrating them into one cohesive strategy to get the most out of them.
Question #4: Got a plan for after?
Your knockout eDMs have been written and designed. Ofers have been personalised and targeted to your ideal customers. What next? It’s not just a case of sitting back and waiting for the dollars to roll in.
BFCM sales are a great way to attract new leads, and how you treat them in their frst few interactions with you will determine whether they become loyal customers long-term. Research from PwC indicated that customers could spend up to 16 per cent more if they experience great customer service. At the other end of the scale, one in three people would drop a former favourite brand after a single bad experience – so it pays to get this right, fguratively and literally.
At minimum, make sure your customer journeys include a simple ‘thank you’ email after purchase, perhaps with a personalised note or survey that will help ensure repeat business. Maybe you’d like to ofer incentives in return for feedback – feedback that will help you fne-tune your strategy for next year’s BFCM sales.
As Christmas falls roughly a month after the BFCM sales, consumers are seeing the four-day bonanza as the best opportunity to get the festive shopping completed, delivered and wrapped well before the big man in the red and white suit arrives.
With the end of lockdown restrictions edging tantalisingly into view, make sure you’re well placed to make the most of this golden opportunity.