For Brick and Mortar retailers, Black Friday is the real deal. It’s a chance to bring people in your store and give them a great experience that will lead them to return in the new year. Not to mention, they’ll get some great gifts for their friends. For those of you online, we get to do it all over again on Cyber Monday. For Omnichannel Retailers, you get an opportunity to increase revenue, gain exposure, and hopefully drive future sales.
However, if you failed to plan and are looking at your website and you’re not sure where to start. We want to give you a few quick wins to help make the most of the day, even if you didn’t plan as much as you would like.
Tip #1: Provide a Cyber Monday coupon code on your social media outlets
This one is easy and there’s no reason not to do it. Create a coupon code through your platform for a certain percentage off your online store. It doesn’t have to be that significant but it does need to be worthwhile. A lot of stores resist the entire store discount (which we’re glad you resist) but this is the day of all days to use it. If you have some products that you can’t sell cheaper, look up ways to exclude those items from the coupon codes.
Tip #2: Use a Loss-Leader to drive traffic
Mark an item down to a ridiculous level and share that as far as you can. Your goal isn’t necessarily selling at a loss but profit isn’t our goal with this transaction, traffic is the goal. Upon purchase, you now have a customer you can retarget later in the month or next year. We don’t recommend offering a steep discount on everything but giving a few stellar deals can be a great traffic generator.
Tip #3: Consider if you Cyber Monday fits your brand
It’s possible this should have been tip #1 but we’ll stick with #3. Some industries don’t need Cyber Monday and it doesn’t really fit your brand. High-end furniture, for example, isn’t something that someone springs for on a moment’s notice. Consider if discount shoppers are the people you are actually wanting to reach or if your client is someone else entirely. For those stores that don’t fit the normal mold, here are a few things you can do:
- Offer discounted shipping on Cyber Monday orders.
- Give a gift card to be used next year with a Cyber Monday purchase.
- Offer a discount on a upsell item. This might give them a reason to add a new item to their cart but you still aren’t targeting the “discount shopper”
If Cyber Monday is your client-base, then it’s a mistake to miss out. Your competition isn’t.
If you have any questions on how to create the best Black Friday and Cyber Monday strategy feel free to reach out, we’d love to talk.