Black Friday & Cyber Monday, the top buzz words for Q4 for store owners, media buyers and consumers.
The first time the term Black Friday was used was due to a financial crisis for the US. gold and cash market back in 1869 on September 24th.
It’s a little ironic since we are currently in sort of the same situation with the global economy due to the crazy ear that 2020 has been.
The story of the term Black Friday has a lot of myths surrounding it, but the main story that stuck according to history.com is the following.
“The result was the “red to black” concept of the holiday mentioned earlier, and the notion that the day after Thanksgiving marked the occasion when America’s stores finally turned a profit.”
This retail tradition has morphed into a 4 day shopping bonanza over a weekend that also spawned the day of Cyber Monday.
This tradition mainly applied to retail stores and customers had to get early to the stores really early in the morning in order to benefit from the major discounts.
This has changed a lot since the dawn of E-Commerce and especially this year, it’s going to be one to remember.
Due to the impact on consumer behavior from Covid-19, most predictions show that this might be one of the biggest e-commerce events of the decade.
Consumers have gotten more comfortable with online shopping since they were basically forced to take on that learning curve.
This also means that the Black Friday and Cyber Monday ad space is going to be highly competitive.
So here’s 8 steps you can follow to prepare for Black Friday & Cyber Monday.
Before you can prepare your ad account, you have to prepare your website.
Load test your website
Making sure that your website can handle the amount of traffic coming through on these days is extremely important.
Run speed and optimization tests in order to find areas where you can improve site speed since, slow website = slow sales.
Test your purchase procedure and UI (user interface) regularly in order to be 100% sure it is working properly and is easy to navigate.
Prepare Your Black Friday & Cyber Monday Landing Page
Using a custom landing page for these two events are crucial to stand out from your competitors, these have to be striking while also being user friendly.
The page has to be optimized to be able catch customers and crab their attention and have them make the purchase decision as quick as possible.
Now you can start preparing your ad account
Urgency & Relevance Creatives
This is the most important touch point for your customers. The creative strategy you implement should create urgency for your customers.
This first contact of your creatives should only show and mention exactly what the product name is, the percentage discount and a benefit of the product.
Test Your New Black Friday and Cyber Monday Creatives
Black Friday and Cyber Monday creatives need to be eye catching and creative.
Since these days are time sensitive it is important to test your creatives for the campaigns early on and sending them through reviews before Black Friday and Cyber Monday.
This will allow you to identify problems before the big day and address any problems that might come up with the review process.
Read More: Are You Really Testing Creatives On Facebook Or Is It Luck Of The Draw?
Brand Awareness & Reach Campaigns to Build Anticipation
Running a few brand awareness campaigns and reach campaigns are a great way to prepare you prospecting customers for the up and coming Big Day.
This campaign should land on your Black Friday & Cyber Monday landing pages in order to collect the customer data.
Get The Data From the Previous Year.
Even though consumer behaviour has changed for 2020, this is a good starting point for your campaigns to kick-off you initial campaigns.
Using lookalikes, similar interests and creatives from successful campaigns will allow you to hit the ground running.
Read More: Why You Should Utilize Your Lookalike Audience
Bigger Discounts For Returning Customers
Even though you have converted these customers prior to Q4 period, preparing retention campaigns with larger discounts is an easy way to retain customers and get cheap conversions
Campaign Structure & Audience
You campaign structure should still follow the guidelines for having a well functioning sales funnel including top funnel, middle funnel and bottom funnel & retention
With this set-up your Black Friday and Cyber Monday campaigns should only use audiences that are relevant to this exact period.
Your Top Funnel will look standard & excluding customers from the relevant period of engagement based on when you launched your brand awareness and reach campaigns.
Your Middle Funnel will target engagers from the brand awareness and reach campaigns.
Your Bottom Funnel Campaigns will target users from the brand awareness and reach campaigns that landed on your custom landing pages.
Here you can provide extra discounts for people that added to cart, or initiated checkout etc. with special discounts to incentivize them to complete their purchase.
Your retention campaigns will provide previous customers and email subscribers with special discounts to award them for supporting your business.
Most E-Commerce owners believe that with Black Friday and Cyber Monday, all you need is a big discount in order to have success.
But this couldn’t be less true. Competition is extremely high and everyone is fighting for the same ad space.
Having a clear understanding of your customer behavior and planning and exact strategy for Black Friday and Cyber Monday is crucial to the success of your campaigns
If this is something you might be struggling with and if you are spending over $500 a day and you want to scale your brand.
Book a call below, to have the best of the best work on your brand.
And that’s a wrap!
I’m Quintin, Media Buyer at DimNiko