Top Tips for Capitalizing on the Biggest Days in the Retail Calendar
Reports show that more than 154 million people in the United States make an online purchase on Black Friday, spending over $700 billion in total. This well known day of deals — as well as its little brother, Cyber Monday, which comes just 3 days later — is one of the biggest opportunities of the year for businesses. Boost your Black Friday sales this year with these four simple and cost effective tips...
1. Make it Easy
Modern customers want simplicity – so give it to them! One way that your business can stand out and really capitalize on this major shopping weekend is to provide customers with a simple, stress-free, streamlined online shopping experience. There are many ways to simplify the purchasing journey, but the starting point is to take your products to your customers, rather than asking them to come to you.
If you haven’t yet dipped your toe into multi channel selling, then now is the perfect time. Make it easy for customers to buy your products by listing them on the shopping websites that your customers prefer. If you’re unsure, it’s worth looking at user demographics, and seeing where your target customers are.
This could be anywhere, from eBay and Etsy to Shopify and EKM. However, at this time of year, don’t overlook Amazon. Amazon is the preferred retailer for Black Friday shoppers, with reports showing that this popular marketplace tends to account for nearly 40% of online sales in November and December.
2. Be Clear
Listings can be one of the trickiest aspects of selling online, but if you want to stand out from your competitors and capitalize on the Black Friday weekend, focusing on your content is key. As well as creating the perfect product listing, you’ll also want to create the perfect call to action. A call to action, or CTA, makes it obvious what you want your customer to do. In this instance, it’s buy your products!
Consider that Black Friday shoppers may not specifically need what you’re selling, but they’re open to suggestions if you’ve got some attractive deals. It’s your job to encourage them to convert with a call to action that is clear and persuasive, and makes it difficult for them to walk away from your discounts.
At this time of year, a targeted call to action (one that is specific, such as ‘buy this now’) can be more effective than non targeted CTAs at boosting conversions and making more sales. Using the right software, you can incorporate a great targeted CTA into all of your listings at once, saving you time!
3. Don’t Leave it to the Last Minute
Although customers may wait until the start of the famous bargain weekend to actually make a purchase, there’s a lot going on behind the scenes in the run up to Black Friday that businesses don’t always see. In fact, reports show that generic Black Friday searches (‘Black Fridayelectronics’, for example) begin as early as 1st November, with searches becoming more and more specific as the day draws nearer.
What this tells us is that by the time Black Friday rolls around, customers already have a pretty good idea of what they’re interested in buying, and who they’re interested in buying it from. By Black Friday, it may already be too late to impact your prospective customers. Instead, it’s important to prepare in advance.
The weeks leading up to Black Friday can be massively busy for businesses wanting to capitalize on this major shopping day, which is why it’s a good idea to look for any ways that you can reduce your workload. Sales automation software, for example, can take over some of the morelong-winded tasks.
4. Have Products to Sell!
Black Friday is just one of the many days that make up this chaotic shopping season. Once just a single day, ‘Black Friday’ is now a term used to describe the entire 4 day deals weekend, ending with Cyber Monday. With shoppers not only looking for incredible deals, but also gifts for Christmas, one of the most important things you can do at this time of year is make sure you have some products to sell!
Quite simply, you can’t make more sales unless you have the stock to sell, and you won’t have the stock to sell unless your inventory management is perfect. Regardless of how big or small your business is, never manage your inventory manually as this massively increases the chances of making mistakes.
The risk or error is even greater if you’re selling across multiple channels. At this very busy time of year, businesses are advised to look into solutions that offer real time, cross channel inventory tracking, not only for stock and re-order purposes, but also to ensure that customers are not left feeling disappointed.
Managing Your Success
These four top tips are great for boosting sales on Black Friday and through the big shopping weekend, but it’s important to remember that increased sales alone are not enough to help your business really capitalize on this major, worldwide event. In fact, there are actually many other aspects to consider. For example, have you thought about how you’re going to effectively and efficiently handle increased sales?
More sales means more orders, more invoicing, more picking, more shipping, more post-sales support. Are you ready? We recommend taking the easy route, especially if you’re selling your products across multiple channels which is when things can really get confusing. A top tip is to try to think of all your sales channels as one, rather than dealing with everything separately.
Look for software that is compatible with all your chosen sales channels, with an ability to consolidate orders from each channel so that you can view everything on a single interface. At this time of year when there’s Thanksgiving, Black Friday, Cyber Monday, and Christmas, it really can make a huge difference!