Black Friday is just around the corner, and all the physical and digital stores around the world are preparing their best offerings for this special day. Throughout this blog, I have outlined ten tips that will help you prepare and launch a successful Black Friday campaign.
To take advantage of this massive day for consumers, create a free account here so you can analyze your eCommerce data in real-time. 200+ eCommerce stores worldwide use Radix to analyze and organize their business operations.
1. Prepare your inventory/stock based on your previous sales:
Do not lose a sale because you do not have an available product in your inventory.
- Based on your historical sales data, highlight your best-selling products and services. You don’t want the “Sold Out” tag to appear in your product when you have customers trying to add one to their shopping cart.
- It is likely that your top 10 products will be repurchased most often by your previous customers.
Note: Radix allows you to quickly filter your products by top 3, 5, and 10 during a selected date range (Last 12 months, All Time, ctr)
2. Top 100 customers:
Guarantee your sales with previous customers.
- According to some studies, it is 5x harder to acquire a new customer than retaining an existing customer.
- Target your marketing email campaign based on your customers’ lifetime revenue (the amount they have spent on your products/services over a period of time) to tell them about special Black Friday offers.
Note: A dedicated module in Radix lets you analyze your customers, and you can easily find your big spenders and the customers with the longest tenure.
3. Forecast your products performance:
Be proactive, not reactive.
- To avoid running out of products for your customers, anticipate your future sales based on your best-selling products.
- Design promotions for the products with the strongest sales trends.
4. Use this day to turn one-time customers into recurring customers (subscribers):
MRR (Monthly Recurring Revenue) – Always keep this KPI in mind and make it a priority for your business growth.
- The most successful online businesses generate 70% to 90% of their revenue from recurring customers (Customers who subscribe to your website for regular delivery of your products/services).
- If more than 50% of your revenue comes from one-time customers, your online business is very likely to fail within 2 years.
- We have seen that most of our customers have used this day to encourage their customers to create an account on their websites by offering excellent promotions for those who subscribe for quarterly or annual subscriptions.
5. Test your site for traffic and speed:
Make sure your website loads in less than 10 seconds.
- As a result of your great offers, your traffic might increase significantly before and during this day. Therefore, you should double-check the performance of your website to ensure everything is running smoothly. (Check your website performance here).
- Online shoppers do not like to wait more than ten seconds for a website to load. If you see that you are close to crossing 5,000 pageviews per month, you need to increase your server limit immediately. Otherwise, you will experience latency in your website, increasing your abandonment rate.
6. Optimize your website for mobile:
If your website is not mobile optimized, do not expect online success.
- According to some market research, mobile devices search will make up to 80% of eCommerce sales worldwide.
- 80% of your potential customers will likely see one of your ads on Facebook, Instagram, or Google. If your website does not look good, this will result in a trust issue with your brand.
7. Marketing Emails:
Spread your product’s offers smartly.
- Send customized newsletters that begin with the prospect’s first name. Creating a one-on-one connection will increase the open rate and engagement with your content.
- You can use clickable images to direct your targeted prospects to your website so they can purchase the products.
8. Prepare your customer service efforts:
Make your customer happy with excellent assistance.
- Establish your terms and conditions clearly to make any claim easier to resolve.
- To get your customers’ complaints, questions, and suggestions, make sure you have several communication channels. We suggest a dedicated email and the company’s phone number.
9. Offer different payment methods:
Make sure to capture that payment intent.
- If you want to sell outside your country, make sure your payment gateway is supported in those targeted countries.
- The most popular payment gateway is PayPal, which is available in more than 200 countries.
- Stripe is another big player in the market with 135+ currencies supported.
10. Collect as much data as possible for next year:
Prepare yourself for next year by using your data.
- If this is your first Black Friday, you should use it as A/B testing for next year. This does not mean that you will not be successful. It means that you will have way more experience for upcoming years.
- Compile data on essential processes such as email marketing campaigns, bundle promotions, top-selling products, and busiest hours based on sales processed.