Black Friday and Cyber Monday (BFCM) are great opportunities for businesses to boost sales and attract new customers. As the competition intensifies each year, it’s important to have a strategy set in place. Here are 5 steps to help you maximize your sales during this BFCM:
Don’t limit your sales strategy to just the Black Friday weekend. Many consumers begin their shopping spree weeks in advance! Launching your promotions earlier gives you more time to test offers, build momentum, and capture early shoppers. This approach will not only boost your visibility but also help you manage your inventory more effectively. By launching your promotions early, you can see which products your customers love most and adjust your stock accordingly.
Instead of trying out new ideas, take a look at your sales data from the last 90 days and the past year. Identify your best-selling products and the ads that got the most attention. By promoting these winners, you can make the most of your efforts and maximize your sales potential. Focus on promoting your best-selling items, and consider heavily discounting products that aren't selling well to make room for new stock.
Focus on making unique offers that catch shoppers' attention. You can encourage people to buy more by bundling items together at a lower price and offering discounts that get bigger as customers spend more or giving exclusive deals to your email subscribers. Selling gift cards is also a smart move since they're popular during the holiday season and let customers share your brand with friends and family. This not only boosts immediate sales but can also attract new customers, helping to lower your customer acquisition costs in the long run.
Retargeting is an effective way to re-engage visitors who have previously interacted with your store. Use retargeting ads to remind them of products they viewed or added to their carts but didn’t purchase. The ads will remind them of what they almost bought, and that if they don’t act now, they’ll have to wait another year for this good of a deal. Add an incentive like free shipping, and they’ll be even more likely to make the purchase before it's too late.
Don’t forget to acknowledge and reward your loyal customers who were there for you all year long with special perks during BFCM like early access and special discounts. This makes them feel valued, encouraging repeat purchases and boosting LTV. Happy customers are more likely to spread the word about your brand and it will always be a better strategy to focus on returning customers rather than spending your marketing budget to acquire new customers.
By implementing these steps, you can grow your sales potential during Black Friday and Cyber Monday. Start early, leverage data, and prioritize customer experience to enjoy a successful and profitable BFCM season!
