8 Tips to increase revenue from Black Friday to e-commerce owners
Black Friday is the biggest and busiest shopping day of the year.
According to Adobe Analytics Statistics, Consumers Spent $9 billion on online shopping in 2020, and this amount increases every year by about 22%, so this year it’s expected to reach $11 billion!
Here are some tips to help you make the best of it, maximize your profits and make your brand break through the clutter!
1- Set a higher budget for Social media ads.
It’s the biggest season in sales, so it means that all online retailers are launching social media campaigns on different platforms. However, to make your ads reach the right audience in this crowd, you’ll need to invest in your ads with a greater budget to achieve your revenue goal, as 72% of the Egyptian consumers have been shopping more online since the pandemic.
2- How to avoid shopping cart abandonment?
Shopping cart abandonment is the e-commerce owners’ worst enemy. According to 2020 statistics for black Friday, the global cart abandonment rate is 77.79%, which’s a huge loss for all retailers, as, in every 100 visits to your website, 78 of them are leaving their carts.
A free shipping offer is the best option for retailers and shoppers in this case. Still, it’s not a hassle for retailers, but it encourages the consumers to complete the process because you’re helping them save energy and money. According to Statista, free shipping impacts shoppers’ ordering decisions by 73%.
Also, to avoid cart abandonment, you should make the checkout process easier and shorter because some consumers may feel unsafe when you ask them for a lot of personal information.
3- Private/special sale for previous customers.
Your previous or loyal customers trust you enough to make another purchase because they already understand your service or product. Statistics say that loyal customers spend 67% more than new customers, so you can target them by sending tailored messages via email or SMS with customized offers. For example, you can offer them an extra 10% discount on online purchases or orders with more than 200 EGP.
Here’s a real example for Mazaya’s SMS to their loyal customers in black November:
4- Attract customers with flash sale alerts:
Flash sale is a huge discount offered by e-commerce for a limited time, most probably for 2 or 3 hours.
It’s an excellent opportunity to boost traffic to your e-commerce and get many orders in just a few hours. But it needs some hype to motivate people to purchase; I suggest announcing the flash sale in a countdown before you activate it to let them check your website and save pieces they like until you reveal the start time.
Flash sales generate a 35% lift in transaction rates so it’ll boost your visibility, create customer loyalty and increase revenue.
5- Gifts are always a good option.
Black Friday comes one month before Christmas and New Year’s Eve. You can offer small gifts from “secret Santa” and send personalized thank you notes with the orders to let the customer feel special.
6- Time to launch
Don’t hesitate to launch those new products you wanted to test during sales season, and the shopping spree vibes will encourage customers to try your latest collection and trust your brand furthermore.
7- Extend your offers.
When you extend your offers one week after Black Friday, customers will feel you’re giving them another chance to save money.
Don’t forget to announce the extension on all your platforms, and I suggest you make it in a GIF with the number of hours left to your offer’s deadline.
8- Black Friday Hashtags
Don’t underestimate the power of hashtags, and it’ll let you reach the audience who’s interested in black Friday offers and your products. You can use hashtags like #blackfriday #blackfridayshopping #blackfriday2021 and other hashtags that are related to your product or service.
Increasing your revenue on black Friday and breaking through the clutter isn’t easy but worth the effort. So get started now with these tips if you want to boost your sales in the biggest retail season!
I hope these tips are helpful to you, and if you have any questions concerning the black Friday campaigns, don’t hesitate to contact us on our website: www.affsquare.com