2020’s Black Friday Cyber Monday (BFCM) is a typical, characterized by numerous shifts in consumer demands, shopping habits, and safety concerns. Many brick-and-motor stores remain limited by the health guidelines, with the popular malls taking extra caution to prevent the spread of COVID-19.
As more and more shoppers rush online to make their BFCM purchases, inventory and shipping constraints will pose a big challenge for retailers, especially independent businesses. Therefore, it’s necessary to start planning early if you want the most out of this year’s BFCM shopping event.
Here is How to Prepare Your Store for 2020’s Black Friday Cyber MondayÂ
At this juncture, we present a checklist that will help you escape last minute scrambles and create opportunities for your brand or e-store. Regardless of your business size or position, our checklist can help you prepare effectively for 2020’s Black Friday Cyber Monday.
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Get Ready For An Influx Â
Even with the never experienced events of 2020, it hasn’t limited e-Commerce from enjoying a tremendous growth, and without a doubt, this year’s biggest shopping weekend will be dominated by online shopping. In the latest Shopkick survey, 34% of US shoppers indicated that they would make their holiday purchases before thanksgiving. A general outlook indicates that online sales will start early and extend beyond the weekend.
Therefore, with shoppers trading their queue time searching for online deals, it’s crucial to communicate your offers as early as possible. Also, remember that customers plan to shop throughout the BFCM season past the common shoppers’ weekend.
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Survival Of The FittestÂ
Forget the previous BFCM events. This year’s BFCM will test e-stores to the ends, and with that, keeping a keen eye on your competitors’ marketing strategies can help gather reliable ideas for your Black Friday Cyber Monday deals. One of the best ways to keep track of your competitors is by subscribing to their email list and study the campaigns they are testing.
You can as well follow them on social media and set up Google alerts to see the websites talking about them.
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Create A Backup PlanÂ
Being prepared goes beyond having a masterplan to planning solutions in case things go awful. Ask yourself; do I have the proper backups in place in case anything goes wrong? What next when the inventory doesn’t arrive on time? What happens if the shipping company becomes busier?
With the fact that the shipping providers already announced shipping delays during the early and mid-phases of the pandemic, it’s necessary to prepare for them. Analyze your business with possible operational difficulties and make a contingency plan effectively. It’s quite easier to manage the planning now than troubleshooting amid the biggest sales weekend.
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How Reliable Is Your Website In Handling Traffic Surges?Â
Instead of flocking malls and shops, shoppers will relax back and search online for all the products they require. You ought to know that sudden spikes in sessions and sales can cause your website to crash. Certain e-commerce platforms offer server solutions that can handle huge spikes in traffic and sales. Try to test the server load capacity of your website with popular tools and fine-tune it.
Assess how each page loads and the overall loading speed of your e-commerce store.
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Inventory Check-upÂ
See that your brand or store is well secured with enough products. Selecting what you want to promote for BFCM should be done early, especially if you rely on suppliers to manufacture or source the inventory. Worldwide suppliers have been operating above capacity since the pandemic began and currently require a lot of extra time to get your products ready.
Similarly, there are many ways to forecast demand and identify the merchandise you want to re-up for BFCM. Shopify Reports is one of the best places to start in case you are on it. Also, utilize the Sales by Product report, filtered by last BFCM dates, to identify the products that sell well during the Black Friday Cyber Monday season in particular.
In addition, ABC analysis can help you identify the best and worst-performing products. It generally indicates that A-grade products are your money makers projecting up to 80% of your revenue. On the other hand, C-grade products are your dead stock making 5% of your revenue. Therefore, BFCM presents a great opportunity to drive your revenue by featuring the A-grade products in your campaign with modest discounts.
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Have A Thought For Pandemic ProductsÂ
For each year’s big shopping event, you always want to highlight your best sellers, but this year, it is essential to consider products that have been high in demand since the pandemic. 38% of e-merchants are introducing new products this BFCM as per a survey.
For your benefit, its ideal to consider upping your inventory with the booming product categories since the lockdown, i.e.;
Masks, Indoor & outdoor furniture, Computer Accessories, Home Office & Accessories, Fitness Equipment, Self-care and Beauty Products, Leisure Wear, and Board Games or Jigsaw Puzzles.
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Consider Live Chat for Your WebsiteÂ
Make it easy for your potential buyers to reach you during Black Friday Cyber Monday season. Check out the best live chat functions to help your customers get the feedback they require as soon as possible. Once you send emails or launch promotions, make sure you are available to take care of the customers’ responses.
Try to add a support chatbot or Facebook Messenger to your website that can interactively respond to customer queries. This will not only improve customer care but also slice the extra load off your shoulders.
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Consider The Craving Mobile ShoppersÂ
You will only limit your end-year revenue if you only work on desktop experiences. For the past few years, the internet has recorded more purchases from mobile users than desktop. We should expect this practice to continue, and therefore, it’s time to think about mobiles.
Assess what your store’s user experience is, whether it’s easy and intuitive to make purchases on your store or whether it’s mobile responsive. During 2019’s BFCM season, 69% of sales were made on mobile phones or tablets, with 31% on desktops. The ball is now in your hands!
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Work On Your Marketing Campaigns & Advertising ChannelsÂ
Several merchants saw a considerable conversion rate from email marketing. Every e-merchant must have a few email marketing campaigns to bring customers back to the website to act on the holiday sales offers. Consider tips like; sending warm-up emails in the weeks or days leading to BFCM and thanking your customers when the sale ends.
Crafting an excellent promotion and ensuring that potential buyers become aware of it is an excellent step to an accomplished BFCM. This year, 82% of merchants plan to market their BFCM promotion through Facebook, Instagram and WhatsApp.
Know that bids can get more expensive during the competitive holiday season; however, you may need to increase your bid price on specific keywords depending on your niche.
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Plan Catchy BFCM Offers & DiscountsÂ
Attract more customers towards your brand or store with an incredible offer or amazing discounts. However, see to it that you achieve your targets and goals perfectly. In case sending an email to your subscribers, consider focusing on the one sale product you feel is the most enticing.
Note that promotional messages flood everyone’s inbox during Black Friday Cyber Monday, and it’s crucial to find ways of standing out. Other promotional ideas include;
Offering a product bundle, gamifying your offers, and creating daily deals limited for a given period. Try to employ a few proven approaches to boost your average order value once you have attracted new visitors.
Also, ensure prompt and personal support as you compete with all types of e-merchants. Assess checkout experience, create banners & hero images to advertise holiday sales and set up Google Analytics. We hope that this checklist will effectively prepare you for the most-awaited 2020’s Black Friday Cyber Monday holiday season.