8 Ways To Get The Most Out Of Your Black Friday deals
There’s no doubt that Black Friday (November 23rd 2018) is the biggest shopping day of the year around the world, and it’s coming up fast. If you don’t have a strategy for handling your Black Friday promotions yet, these few tips could help you along the way.
Make sure you have compelling offers
This is a given, but it’s often overlooked by many online retailers. “Our offers are already good”.
Yes, your offers might be good, but are they as good as your main competitors? Would you really buy that product immediately if you saw the offer?
Black Friday is often thought of as a time of impulse – you don’t need a new hoover, but if the price is right then nothing is going to stop you from buying it. But something might stop them from buying it from you. Comparison.
With a huge number of consumers comparing products across multiple brands online, you need to make sure that your product offers are compelling enough to get the purchase.
Recapturing customers with Abandoned Basket emails
If you don’t already have an abandoned basket programme, I suggest you start one immediately – there’s really no better time. Research suggests that almost 70% of online baskets are abandoned for a variety of reasons.
The AOV on an abandoned basket purchase is over 14% higher than a regular sale, despite many retailers offering a discount in their abandoned basket programme.
For Black Friday, make sure you have updated your abandoned baskets emails to reflect current offers, perhaps having a specific email for the products that are on sale. Timing will also be a factor depending on how quickly your offers expire, so you should make sure you send out the first email in your series within the first 90 minutes.
Email Segmentation is key
Sending out a Black Friday email in advance of your offers going live is a great idea, but you’ll only get ‘good’ results. If you want ‘great’ results then you need to look at customer segmentation.
Open up your email marketing platform and check out the data that you have on your customers. For those using sophisticated marketing automation platforms, you’ll have things like Last Category Purchased, Last Order Date, Location and a lot more. These are all ways that you can segment your emails and create different content to engage your customers.
Location. Let customers know about events near them. Perhaps a store in that area has a particularly good offer.
Last Order Date. If your customers ordered on Black Friday last year, send them a similar style of offer (similar as in type of discount, not the same product unless it’s a consumable). If a customer has order within the last two weeks you may want to exclude them completely.
Last Category Purchased. Check which types of products your customers buy and send them something relevant. The last thing you want to do is send and email about Tea to a Coffee drinker, or an offer on a BMW X5 to someone who’s looking for a Volkswagen up!
These are just a few examples, but you get the idea. Be clever about email. Make it relevant.
Budget for Black Friday
Whether your advertising on Google, Bing, Facebook or Instagram you’ll want to check over your monthly budget to make sure you have accounted for an increase in Black Friday traffic. With million of people going online to find the best deals, you’ll probably exhaust your budget in the middle of the day and miss out on the key times that your customers are looking for deals.
For the week(s) leading up to Black Friday (if you can’t get additional budget) I would recommend reducing your daily budgets by as much as 10-20% – consumers are much less likely to buy, in anticipation of Black Friday deals so you could be spending money you don’t need to.
Once Black Friday starts, you can put these savings back into your budget for the length of your offers to make sure that you don’t run out of budget on the day.
For those of you that aren’t leveraging Google Shopping yet, you need to get on board. With Images and prices in Google search results, consumers are much more likely to click on a product they can see, rather than your organic listing. Over 80% of ad spend on Google Ads is via Shopping rather than traditional text ads.
Increase your budgets, raise your maximum bids, and if you have sufficient tracking in place make sure you are working on a ROAS (return on ad spend) bidding strategy so you can keep your sales profitable.
Make sure you’re included on Coupon and Voucher websites
With so many platforms available to post your voucher codes and offers, you’d be remiss not to use them. PromoPro and PRMCoupon have worked for me in the past, but you should also try Voucher Codes and Hot UK Deals.
You might not get a huge amount of traffic from some of these websites but from those that do some through and browse your product, you’ll see significantly higher conversion rates.
Get social with your offers
Whether your followers on social media are in the hundreds or the millions, they’re people that like your product and want to hear about your offers. Make sure that you are posting your offers on your social media channels in plenty of time and regularly throughout the day, you want to give people enough time to share before the discounts run out.
With the decline in organic reach on Facebook in recent months, and with other platforms likely to follow suit, you should also save some of your budget for a paid ad or two. Using carousel ads to highlight some of your best offers should do you well, and if not, test multiple ads in the same campaign – this is the easiest way to manage everything under one budget if you are short on time or resource.
Remarketing your best deals
Make sure that your remarketing efforts reflect the products that you have on offer. Have some banners created well in advance of Black Friday and create some compelling texts ads to work alongside them. It’s important to use both types of ads to get the widest possible reach as some websites don’t accept certain ad sizes or types.
As well as remarketing to customers that hit a particular offer page, you should also create lists for those that added something to their basket. These people have a high intent to buy, but it may be that they just don’t have the time to complete the purchase right now. Don’t let them forget that they added the product to their basket – show them the exact product and the offer available.