The Win-Win situation time of the year Black Friday has everything colorful apart from the color black. It is the time when retailers & consumers both get super ready & excited about shopping.
We all know that things change drastically after the coronavirus, which resulted in a tremendous boom in digital spaces.
As people avoid the traditional way of shopping and rely on the online store the most and understand it more precisely through statistical numbers, it is very clear from last year’s revenue data of commerce that it is the fastest-growing industry of 2021.
If we talk about the number then the company’s U.S. revenue hit $63.43 billion. From this, we can clearly understand that consumers day by day shift towards online shopping rather than going to the traditional way of Shopping.
So now let’s unveil a bit about black Friday, its history and how it started, and most importantly why it is important for retailers.
What is Black Friday?
Some believe that the term denoted retailers who earned great profits that day.
It is believed that the term is represented by retailers who earned huge profits on that day. The word “Black Friday” started getting popular in the 1980s when the whole merchant community decided to earn as much as they can from the day in the wake of Thanksgiving when the festive season began.
If we talk about the countries where Black Friday is celebrated the most are the United States, UK, Mexico, Australia, New Zealand, China, Japan, Russia, and many other nations of the world. Now let us understand even more precisely from the merchant’s perspective.
Why is Black Friday important for retailers?
The story justifies itself with real evidence: Countless individuals during the start of the shopping season and long lines prompted critical benefits for retailers.
Consistently on the online and disconnected stores set up the best arrangements and greatest limits for perhaps the most active offer of the year. With set up a ton of offers, put together various occasions to draw in new purchasers, and increase revenues.
Now, running an eCommerce store is not easy, as merchants have to keep tracking both the website health check and overall business & marketing part.
But time like Black Friday comes in a year where the customer is ready to spend heavy money if your website has reached out to the proper marketing tool & attractive offers. So now let’s get how you as an eCommerce merchant can leverage the most from the black Friday sale.
- Products where discount should be applied
Before applying any discount on your product one should have done proper research on which product has higher selling value and the one with less sale value as it would help to set discount accordingly.
To convey your message through paid ads or the organic way you would require a good graphic image as it’s all about images & words. So it becomes very much essential to have a graphic creative that matches your brand guideline & spreads the message in an interesting & engaging way.
- Checkout process
Building up a decent checkout interaction will keep your customer happy and keep them shopping at your store. For what reason is it so essential to have a hassle-free & secured checkout process to increase trust & ultimately also boost revenue.
Black Friday strategy requires extra care and most importantly pre-planning to strengthen marketing, customer engagement, conversion rate to boost overall sales volume in a single day. So below is the quick- guideline which will help to make the perfect strategy for black Friday.
1. Design your store
The theme should be around Black Friday in terms of design as it creates a sense of familiarity & comfort for every visitor who visits your store at that particular time.
2. Retarget users through ads
When you are in an online space it’s all about how many eyeballs have seen your product or services. So, along the organic way of marketing through Facebook, Instagram plays a vital role.
Especially FB pixel, as in the piece of code that you put on your site. It gathers information that assists you with the following CONVERSION from Facebook advertisements, improving promotions, and also helps in retargeting the same.
3. Upsell and cross-sell your products
Upselling is the act of empowering customers to buy a better quality product than the one being referred to, while cross-selling means strategically showing the customers to purchase related products.
4. Personalize touch – email, message, WhatsApp marketing
Using content as your message is the best way to improve your overall marketing, as it gives the personalized touch which ultimately helps to increase brand visibility, build trust & increase sales.
5. Email marketing strategy
We all are very aware of How Magically Email Marketing can be if it is implemented properly with planned & Strategically to the Target group. Below are some ways you can execute the Email Marketing campaign.
- Drip Marketing – The way of communicating with your existing email subscriber. In this, you can send Multiple automated emails at specific times & dates to your subscribers. To keep them updated by constant delivery of your content on a regular basis.
- Email automation – Email automation is the way to send email message content to customers with relevant information. Email automation tools are used to share this email to a variety of specific or groups of customers which helps to generate new leads & revenue.
- Abandoned cart target – This happens when customers enter your website through email, newsletter, or organically and visit your site and then add the product but do not purchase it. In that scenario, you can retarget through the paid ads to the same customer as you have some sort of data stored by the web browser.
These were the small tactics & techniques to make The essentials for the 2021 Black Friday successful and to make your eCommerce store grow and set a benchmark in terms of sales & revenue, along with emerging your store as a brand in the online space.
Chirag Bhavsar Founder & CEO, Coduzion
Chirag Bhavsar is Founder and CEO at Coduzion. Gusty, Passionate, and a Sports freak. Loves to spend time reading financial books and playing outdoor games as soon as He is away from his desk. He always loves to take on new challenges and get good at them.