According to a recent report from Adobe Insights, online transactions during Cyber Monday totaled a whopping $6.59 billion in 2017, an all time record. With this huge event looming just around the corner, it’s vital that your brand has a strategy in place to handle such a huge wave of consumers and stand out among a sea of competitor brands, who have all hopped on the eCommerce train within the last few years.
With a wide variety of deals and promotions from all corners of the retail industry being thrown at the consumer at once. The challenge lies in convincing consumers that your brand’s discounts are the best and that they should of course buy from you as opposed to competitors.
Our team has worked to compile a list of the top insider tips to help your brand rise above the Internet clutter and draw in shoppers, in order to a see an immensely successful Cyber Monday.
Build Brand Buzz Now
The vast majority of brands begin instituting their marketing and advertising campaigns by rolling out deals long before the big day arrives. By enticing your consumers early on, you’ll increase brand awareness and create buzz among shoppers.
In fact, according to a Campaign Monitor study, email is 40x more effective at acquiring new customers than Facebook or Twitter. Young consumers in particular prefer that your brand engage with them via email.
Although social media has become an effective way of communicating with consumers, 73% of millennials identify email as their preferred means of business communication. You are 6x more likely to get a click-through from an email campaign than you are from a tweet.
Make Your Deals Too Good To Pass Up
Giving consumers a measly 15% off discount will not keep them from looking and purchasing elsewhere. Offering consumers a deal like 50% of and up will keep their attention. Shoppers just want a good deal.
On average, according to a BlackHawk Analytics report, 98% of traffic will leave your site without converting which is where offers come into play. Discounting your products so highly may seem risky, but it will more than likely drive a ton sales and be far worth it in the long run.
In fact, 92% of consumers always look for a deal when shopping. As a general rule, most customers are attracted to buy a product if they see more value in it.
Show Consumers You Care
According to a 2018 report by CauseGood, when choosing between two brands of equal quality and price, 90% of U.S. shoppers are likely to switch to a company that they believe is socially responsible.
Shoppers want to support brands they feel are doing good. By adding a feel good element to your Cyber Monday sales, you’ll build trust and respect among your consumer base.
Charitable events can range anywhere from holding a used clothing/toy/food drive where consumers can receive a discount for donating items; to informing consumers you’ll be donating a certain amount of profits to a specified charity and letting them know by purchasing from your brand, they’re supporting a good cause as well.
Create Campaign To Re-Engage Consumers Post Holiday
According to a report from RJMetrics, the average eCommerce business acquires 24% of its new consumers during the holiday season.
So having a killer Cyber Monday will significantly grow your consumer base, but turning these shoppers into repeat customers is crucial. The key is to keep consumers engaged and interested in your brand without simply seeming like another junk advertisement.
A 2017 report by Stitch Labs found that return customers spend an average of 120% more over the course of a year.
A great email doesn’t seem like an ad, it seems like you’re doing a favor for the consumer. Sending targeted emails such as: “thank you for shopping with us,” “the discounts aren’t over,” or other event specific promotions can continue to grow relationships with new consumers.
In 2017, 81 million people made purchases online during Cyber Monday, according to a report by the National Retail Federation. This year’s Cyber Monday is poised to set new spending records at an all time high.
With so much riding on a single selling day, it’s vital that your brand is doing everything possible to prepare. Just these fews tips can set your brand apart from competitors and help you dominate Cyber Monday sales.