The numbers don't lie: Black Friday Cyber Monday (BFCM) continues to shatter sales records year after year. In 2023, there was a record of $9.8 billion in Black Friday online sales, and for Cyber Monday, consumers spent $12.4 billion, proving the immense potential this shopping season holds for businesses.
But competition intensifies with every passing year. To stand out amongst the noise and truly win big during BFCM, simply throwing up a few generic discounts won't cut it. You need a strategic plan, data-driven decisions, and the right tools to turn website visitors into loyal customers.
We'll unveil the top sales strategies you need to conquer BFCM 2024. We'll explore effective planning techniques, creative marketing tactics, and proven conversion optimization methods – all illustrated with real-world examples to inspire your success.
Why Do You Need Sales Strategies?
Image source: HubSpot
Picture this: BFCM rolls around, everyone's online hunting for steals, and your store is...well, just another shop in the digital mall. Yikes! To really win big during this shopping frenzy, online merchants gotta have some sales strategies. Here's a breakdown of the key reasons why:
- Amplified Sales: BFCM presents an unparalleled opportunity to achieve significant sales growth. Strategically crafted discounts and promotions can attract a surge in customer traffic, translating into a substantial boost in revenue that can fuel business operations for extended periods.
- Customer Acquisition Powerhouse: BFCM acts as a powerful tool for customer acquisition. By leveraging sales strategies, online merchants can capture the interest of a new audience segment. Converting these first-time buyers into loyal, repeat customers becomes a central focus, fostering long-term brand affinity.
- Enhanced Brand Visibility: The lead-up to BFCM offers a golden window to elevate brand awareness. A meticulously crafted marketing campaign can generate significant buzz and establish a strong presence within the competitive online marketplace. This heightened visibility transcends the immediate BFCM window, contributing to long-term brand recognition and a loyal customer base.
🔥 Learn more:
- Ultimate 2024 Black Friday Checklist to Win BFCM Sales | Part 1
- Ultimate 2024 Black Friday Checklist to Win BFCM Sales | Part 2
Top Sales Strategies for BFCM Success
Black Friday Cyber Monday (BFCM) is a prime time to boost sales and grow your business. Here are some key strategies to increase sales and handy tips to help you execute them flawlessly.
1. Research and Qualify Your Prospects
BFCM is like the Super Bowl for online sales, but cramming random people into the stands won't win you the game. You gotta find the fans who are gonna cheer the loudest for your victory! Here's how to find your ideal BFCM customers:
Who's Your Ideal Customer?
Use Google Analytics 4 to get invaluable insights about your ideal customer persona to shape your sales strategies. (Image source: Google Analytics)
Think about your perfect BFCM buyer. Are they young tech enthusiasts or home decor fanatics? What keeps them up at night (besides scrolling for deals)? Figure out their age, interests, and what problems your products solve for them. Think of it like online dating - gotta find your perfect match!
🔥 Related article: How to Transform eCommerce Marketing Data into Profits in 2024
Spy on the Competition (Shhh, it's Market Research)
Analyzing your competitors is a smart tactic you can do to perfect your sales strategies. (Image source: similarweb)
What are other stores in your game offering? What kind of deals are hot right now? Knowing what's trending helps you tailor your approach and stand out from the crowd. Think of it like peeking at your opponent's playbook before the big game.
Listen Up!
You can categorize conversations by feedback, complaints, opinions, etc. to improve your strategies to increase sales. (Image source: Brandwatch)
Social media is basically a giant focus group for BFCM. What are people buzzing about? What are their hopes and dreams (and shopping lists) for the big sale days? Tools like Brandwatch can help you eavesdrop on these conversations.
🔥 Read more: eCommerce Branding: Connecting with Audiences on Facebook
Not All Leads Are Created Equal
Image source: Salespanel
Not everyone who clicks on your ad is ready to buy. Give your leads a score based on how well they match your dream customer profile. Someone who's browsed your "holiday gift ideas" section a bunch is probably more interested than someone who just glanced at your homepage. Marketing automation platforms like HubSpot can help you with this.
2. Determine Your Pricing Deals
BFCM is a battleground for online merchants, and the right sales strategies are your weapon of choice. Here's how to craft deals that convert:
Know Your Numbers
Image source: zendesk
Profit Margins: Before finalizing your sales strategies, understand your profit margins - factor in discounts, operational costs, and desired profit to determine a sustainable discount range.
Foxify's analytics and reports allow you to review your pages' activity, including sales metrics. (Image source: Foxify)
Review Your Past Sales: Don't underestimate the power of your past sales strategies! It's a treasure trove of insights just waiting to be unearthed. With handy reporting tools, you can analyze your BFCM history and pinpoint areas where you can shine even brighter this year. This analysis will help you set realistic yet ambitious goals for your BFCM campaign.
Offer Variety
Image source: Foxify
- Percentage Discounts: Classic and effective, offering a flat percentage discount across your entire store or specific categories is a crowd-pleaser.
The Volume discounts feature lets you apply bulk, tiered, and volume discounts on every product. (Image source: FoxKit)
- Tiered Discounts: Reward higher spending customers with progressively steeper discounts based on purchase amount. (e.g., 10% off for $50+, 15% off for $100+).
Set a countdown timer with stock scarcity to urge shoppers to close deals faster. (Image source: FoxKit)
- Flash Sales: Create a sense of urgency with limited-time, deep discounts on specific products or categories. This is one of the most popular and effective strategies to increase sales.
Product bundles are suitable for displaying in the Product Information section to boost average order value. (Image source: FoxKit)
- Bundled Deals: Group complementary products together at a discounted price. This increases average order value and tempts customers to buy more.
With a free shipping bar progress, it’s easier than ever to set cart value goals and keep customers engaged and willing to spend more. (Image source: FoxKit)
- Free Shipping: Free shipping is a major deciding factor for online shoppers - especially gen Z. Consider offering it for orders above a minimum threshold.
🔥 Learn more: 15 Best Shopify Discount Apps (2024 Sellers' Choice
Go Beyond Discounts
- Early Access Deals: Reward loyal customers with early access to sales or exclusive deals before they go public.
- Gift-with-Purchase: Incentivize purchases by offering a free gift with qualified orders.
- Bonus Offers: Provide free shipping, bonus items, extended warranties, or loyalty points with purchases to enhance value.
💁 You Might Not Know This: Don't Race to the Bottom: Your sales strategies should focus on creating value, not just the lowest price. Highlight your products' benefits and frame discounts as an opportunity to experience that value at a better price.
🔥 Expert Tips & Gifts:
- Boost Customer Loyalty and Repeat Purchases with Growave - 60-day free trial and 20% lifetime discount on monthly plans
- Boost Customers Retention Rates and Increase Sales with the Powerful Loyalty and Rewards Systems with Loloyal - 50% discount on the first month of all paid plans
3. Set SMART Goals: A Recipe for Success
BFCM is a whirlwind of excitement and opportunity, but without clear goals, it can be easy to get swept away in the frenzy. Here's where SMART goals come in. These powerful tools ensure your sales strategies are laser-focused and propel you towards measurable achievements.
SMART is short for Specific, Measurable, Attainable, Relevant, and Time-bound. Let's break down what each element means in the context of your BFCM campaign:
- Specific: Avoid vague aspirations like "increase sales". Instead, aim for a clear target, like "increase revenue from new customers by 20%."
- Measurable: Quantify your goals! Numbers allow you to track progress and celebrate victories.
- Attainable: Be ambitious, but stay realistic. Consider your resources, market trends, and past performance when setting goals.
- Relevant: Align your BFCM goals with your overall business objectives. Are you aiming to boost brand awareness, clear out inventory, or acquire new customers?
- Time-Bound: Set a clear deadline for achieving your goals. This creates a sense of urgency and keeps you focused during the BFCM rush.
Image source: Hydrate
Examples of SMART BFCM Goals:
- Increase website traffic by 30% compared to the last BFCM, measured by Google Analytics.
- Acquire 1,000 new email subscribers through targeted social media campaigns leading up to BFCM.
- Achieve a 15% conversion rate on all abandoned carts recovered during the BFCM weekend.
By implementing SMART goals, you transform your BFCM sales strategies into a clear roadmap for success. You'll be able to allocate resources effectively, measure progress, and ultimately, achieve outstanding results during this crucial sales period.
4. Winning Hearts and Carts: A Value-Based Selling Strategy for BFCM
Forget the price wars! This BFCM, focus on building genuine connections with your customers through a value-based selling strategy. Here's how to make it a success:
Image source: Chase Dimond
Focus on Outcomes, Not Features: Don't simply list product features. Translate them into tangible benefits that resonate with your customer segments. For example, instead of "long-lasting battery life", highlight "uninterrupted fun for your entire family trip."
Image source: XgenTech
Pre-BFCM Content Marketing: Educate your audience with valuable content leading up to BFCM. Blog posts, infographics, and videos that address their needs and showcase how your products can help establish you as a trusted advisor.
Creating more hyper-personalized offers should be included in your sales strategies to help you win big this BFCM. (Image source: Polymatiks)
Personalized Offers: During BFCM, leverage your customer data to tailor offers that resonate. Recommend products based on past purchases or browsing behavior. Highlight value-added benefits like free consultations or extended warranties.
Image source: DelightChat
Live Chat Support: Offer real-time assistance during BFCM peak hours. A friendly and knowledgeable chat representative can address concerns, answer questions, and convert hesitant shoppers into satisfied customers.
🔥 Read more: Mastering WhatsApp Business for Marketing, Customer Service and Sales: A 2024 Guide
Image source: Foxify
Social Proof: Showcase customer testimonials and positive reviews to build trust and social proof. Seeing others benefit from your products can be a powerful nudge for potential buyers on the fence.
By prioritizing customer needs and showcasing the true value proposition of your offerings, you can transcend the noise of price wars during BFCM. This strategy fosters long-term customer relationships that extend far beyond the fleeting sales frenzy. Remember, it's about building trust and loyalty, not just making a quick sale.
5. Upsell Your Way to BFCM Success: Turning Loyal Customers into Superfans
Don’t just focus on acquiring new shoppers! In fact, 76% of sales professionals agree that prioritizing your existing customers is key as they provide a significant percentage of your revenue.
Your existing customer base is a goldmine during BFCM. They already know and trust your brand, making them prime candidates in your sales strategies. Here's how to leverage upselling approaches to maximize your BFCM revenue:
Image source: Optinmonster
Premium Versions: Do you have a "pro" version of your product with additional features? Highlight its benefits and incentivize existing customers to upgrade during BFCM with exclusive discounts.
Image source: YOURS
Extended Warranties: Offer extended warranties or service plans at a discounted rate during BFCM. This provides peace of mind to your customers and increases their overall purchase value.
Image source: Foxify
Complementary Products: Recommend products that enhance their existing purchase. For example, someone buying a new camera might be interested in a discounted memory card or lens kit. Package these complementary items at a special price for a compelling upsell opportunity.
🔥 Trending Now: Top 8 Sales-Boosting, Upselling, and Cross-selling Techniques to Drive BFCM Sales
Image source: FoxKit
One-Click Upsells: Offer one-click upsell options at checkout. Make it easy for customers to add complementary items to their cart without a lengthy decision process.
Strategically upselling your existing customers during BFCM not only increases your average order value but also strengthens customer relationships. They'll feel valued and appreciate the opportunity to enhance their purchase experience. Remember, a happy, well-served customer is more likely to become a loyal brand advocate long after the BFCM frenzy fades.
6. Rev Up Your Sales Strategies: Dominate BFCM With Social Media
Social media is your secret weapon for dominating BFCM sales. Here are 3 strategies to turn scrollers into satisfied customers:
Image source: socital
Countdown to Crazy Deals: Build anticipation with a well-crafted social media campaign leading up to BFCM. Utilize eye-catching visuals and short, engaging videos to tease upcoming discounts and exclusive offers. Run contests and giveaways that encourage audience participation and generate excitement.
Image source: Foxify
Unleash the Power of User-Generated Content (UGC): Leverage the authenticity and trust of UGC to boost social proof. Encourage customers to share photos and videos using your products with a branded hashtag. Feature these user-generated gems on your social media platforms, showcasing your offerings' real-life value. This strategy builds trust and encourages others to jump on the bandwagon during BFCM. According to a recent study, 81% of shoppers would pay more for a product that features UGC.
Image source: Statista
Live Shopping to the Rescue: Host interactive live shopping events on platforms like Instagram or Facebook Live. Showcase your products in action, answer questions in real-time, and offer exclusive deals during the live stream. This personalized shopping experience creates a sense of urgency and allows viewers to snag deals before they disappear.
Get Inspired By Viral BFCM Campaigns
Sephora
Image source: Sephora
Sephora throws open the doors for beauty lovers this Black Friday! They're removing any hurdles to shopping bliss with free shipping all weekend long. Plus, to unleash your inner makeup maestro (or skincare savant!), they're offering a whopping 50% off on a vast selection of products. With deals this good, there's no reason not to treat yourself and snag the perfect gift! This is the ultimate chance to stock up on your favorites or discover new must-haves, all without breaking the bank.
Cartier
Image source: Cartier
This luxury jewelry brand understands the importance of finding the perfect piece. That's why for their Black Friday sale, they extended their return window all the way to January 15th! This generous 3-month post-purchase policy takes the pressure off holiday shopping and allows you to shop with complete confidence. No more worries about gifting the wrong size or style – there's ample time to ensure your loved one (or yourself!) receives a piece they'll adore. This stress-free shopping experience reflects the brand's unwavering belief in the quality and timelessness of their jewelry.
Lush
Lush didn't just offer deals on Black Friday, they offered a way to make a difference. This skincare brand, known for its organic ingredients and environmental efforts, launched a limited-edition orangutan-shaped soap. Every cent from this campaign went directly to SOS and the Orangutan Information Center, raising awareness for these critically endangered primates. To further emphasize the urgency of their cause, Lush only produced 14,600 soaps – mirroring the estimated number of remaining Sumatran orangutans in the wild. These soaps flew off the shelves during Black Friday weekend, proving that conscious consumers are ready to shop with a purpose.
Tentree
Image source: Tentree
The team established a target of planting one million trees. During its Green Friday campaign, Tentree provides a sitewide percentage discount in addition to daily promotions such as mystery bonus gifts, new product releases, and free shipping. Tentree also rewards its best customers with early access and exclusive incentives. It announces Green Friday and other promotional offers via Black Friday email campaigns, which include a live target meter for the number of trees to be planted. The campaign is also promoted on social media.
Get Ready For Your Best BFCM!
All right, so BFCM is coming up, and let's be real, who doesn't love scoring amazing deals? With these suggested sales strategies, you can transform your website into a sales-generating machine. No more scrambling to get things ready – So ditch the stress, and watch those BFCM sales soar!
