Aside from going for an earlier BFCM sale launch, here are other tactics you can consider based on our clients’ results from their BFCM performance:
BFCM is short for Black Friday Cyber Monday. Black Friday marks the beginning of the Christmas shopping season where stores shower consumers with a myriad of discounts and promos.
Cyber Monday follows up Black Friday as the last major sales event in a year, with more focus on website-exclusive deals.
So, why shouldn’t you miss out on these holiday sales events in particular?
They’re regarded as THE BIGGEST sales events that happen in a year for retail and even eCommerce stores.
This combination of major sales events would see millions upon millions of shoppers with the latest recorded online shopper count reaching more than 186 million in 2021’s BFCM.
Another reason why you should prepare for BFCM? Your competition will be as high, if not higher, as the potential rewards you can reap from this holiday sale.
In fact, BFCM just keeps getting bigger and BIGGER as the years pass.
BFCM may just be an American sale event, but eCommerce stores from around the world are gaining huge profits for taking part in it. In fact, global sales reached $6.3 billion as of 2021’s BFCM.
Other countries also have their own equivalent of BFCM, here’s a quick list of big sales events that happen around the same season as BFCM:
To help you answer these questions, we’ve come up with a checklist of benchmarks you should aim for:
Why is open rate important?
This is the main metric that would tell you how often or how less your subscribers open your emails.
If your open rate is low, you can expect it could have something to do with your subject lines, preview text, send times, or even your sender name.
Why is click rate important?
Click rate can help you determine if subscribers are clicking the CTAs in your emails.
If you notice you have low click rates, you’ll need to revisit how to present your CTAs.
Are they clear and visible? Are they just embedded clickable text links or have visual button GFX? Should they be static clickable images or animated CTAs?
As a rule of thumb, you’ll need to start preparations as soon as Q2. You’re main concern, however, would be when to start your BFCM campaigns.
Based on our experience working with our clients, we’ve narrowed the best time to start your BFCM campaigns on as early as late October to mid-November.
Here are some of the highlights from our clients who started their campaigns within that time range:
This means the revenue your campaigns would generate could potentially reach an average of 50% if you were to start your campaigns within this earlier time range.
Based on this recommended launch time, here’s a brief calendar plan breakdown of actionables for your BFCM prep beforehand:
You should be sending only the best of the best that your email marketing arsenal has to offer.
This is why we recommend you start your BFCM preparations as early as Q2, it’s to give you enough time to A/B test and optimize your emails accordingly.
Here’s a great example of how a winning email should look:
Email and SMS marketing is like a match made in heaven. Email’s high personalization and customizability paired with SMS’ high reach and almost guaranteed deliverability make up for each other’s weaknesses.
Top it all off with push notification marketing and you’ve got a recipe for success.
So, what strategies of each can you use to maximize your BFCM profits?
For email marketing, the 6-Step Holiday Sales Sequence is something we’ve developed and applied in many of our clients’ email marketing systems—with promising results.
Essentially, this sequence is geared towards hyping up your audience, nurturing them throughout the sales event, and instilling urgency by the near end.
Here’s a brief breakdown of the process:
Send emails that give your customers a heads up to prepare for your upcoming sale—in this case, BFCM.
Your customers can get started browsing your store early and setting aside shopping funds. Having hype or teaser emails can also play a part in boosting your overall campaign revenue.
Based on our experience with our clients, brands who have teaser emails brought in more revenue than brands who opted not to.
Start creating segments for your priority customers and general customers. This way, you can focus your higher value promos and offers to the people who’ll most likely buy from you (VIPs).
VIPs also tend to regularly buy your products at full price as opposed to other customers who would only interact with your store during a big sale.
Reward your VIPs with exclusive early access to your sale. Doing this will also show how much your brand values its VIPs, further reinforcing their loyalty to your store.
It’s time to open the flood gates to the rest of your customer base. All the emails you’ve been optimizing, all the tactics and strategies you’ve been sharpening—it all leads to this moment.
User-generated content (UGC) can play a critical role here in clearing customers’ second thoughts. Also, you can use UGC as part of your post-purchase flows to eliminate buyer’s remorse.
These can range from product reviews and customer feedback to product demo videos. The main goal of using UGC is to educate your customers on how much of a positive impact your product will have on their lives.
You can still maximize your sales as the sale event comes to a close. Add a sense of urgency to your emails, such as “Last 24 hours of the Sale!” or give a big “Everything Must Go!” discount to really push your customers into making last-minute purchases.
The magic of this 6-step sequence is that you can freely apply this strategy to holidays outside of BFCM as well.
If your store has an app, push notification marketing is a must-have.
For one, push notifications are permission-based. What this means is that people who allow them are already telling you they are very much interested in your brand’s products and content.
By the way, we observed that our clients with apps for their stores would generate 7% of their overall revenue. This is because apps act as a convenient way to access your store through their mobile devices.
On the other hand, they work effectively as reminders for your customers. Got some abandoned carts? Need to remind your customers that BFCM is almost over? Do some of your customers still have unused discount codes?
Push notifications guarantee that your customers see what you need them to see since they display as these big banners on their mobile device screens.
Just as we mentioned in the SMS section, make sure that your automated flows reflect your current holiday.
This should maximize the relevance of your messages to your customers—minimizing spam flagging.
You’ll need to create a seamless customer experience across your multiple marketing channels.
This way, you can speak the language of your target audience no matter what platform they use—be it email, SMS, or social media.
Examples we’ve pulled from our clients’ BFCM results would be 15% discount offers for VIPs and 10% for regular customers.
Why does this matter? Carefully planning your discounts can help you strike a balance between gains and losses, especially when dealing with different customer segments.
This all depends on what emails you’re sending. Flashy HTML emails are best for sales emails like product highlights and sales event announcements.
On the other hand, text-based emails are enough for important notification-type messages like reminder emails (cart recovery), company operation announcements, or personal messages.
You can set up BFCM-specific pop-ups on your website to get visitors to opt into your email lists. That’s already much of your BFCM segmenting work done for you!
Pop-ups can also help you monetize your website traffic—taking full advantage of the expected high BFCM traffic flow when the big sale event rolls in.