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5 Ways to Make History on Cyber Monday & Black Friday

Posted In Business - By Techtiplib on Friday, October 24th, 2014 With No Comments »

For the past four years, Cyber Monday has been the biggest online spending day of the year, with Black Friday coming in a close second. Since 2006, global online sales on Cyber Monday have increased by 20% yearly on average, and in 2013 the sales record was broken – yet again – with $2.29 billion spent worldwide (check out a cool infographic with more data on the right). Recommended reading 12 Top Tips for Online Sellers 2014.

Any predictions for 2014? You can bet that it’s going to be another record-breaking year, and we’re here to help you get a piece of the action. So a few tips on how you can make personal history and break your own sales records:

  1. Cyber Monday & Black FridayGive Buyers a Discount Deadline – Decide on discounts, and make some only available for 24-hours on Cyber Monday, or for an hour on Black Friday, or until midnight. This will create a sense of urgency, encourage shopping and increase sales. A great example for the success of “limited-time shopping” is Groupon. They built their entire business around 24-hour discounts.
  2. Consider Free Shipping – In a 2014 study, shoppers voted free shipping as their number one priority when buying online, beating out all other options at a staggering 81%. If you haven’t done so already, consider offering free shipping together with your Cyber Monday deals, and advertise your free shipping offers. A great way to tackle your shipping needs and at the same time gain credibility is through Fulfillment by Amazon.
  3. Prepare for Global Sales – Don’t assume Cyber Monday and Black Friday are just about the American post-Thanksgiving holiday shoppers, rather also UK and other European Amazon marketplaces are part of the rush. Amazon stated last year that it sold 426 items a second on Cyber Monday, shipping items to customers in 185(!) Also, last year Amazon UK reported Cyber Monday as the busiest shopping day in its history.
  4. Send Themed Email – Start sending special discounts, gift certificates, special offers, coupons, etc. themed exclusively around Cyber Monday & Black Friday. However, be sure your emails will stand out. A good example of a successful email campaign was from Loft, with a short subject line that simply read “OMG!”, which will definitely pique a person’s interest. After opening the email, it simply read “This is Huge”, in really tiny letters. First, humor is always a good way to go. Second, such a statement will raise curiosity and bring people to click on the link to see what the fuss is all about.
    An example of what not to write in a subject line comes from Newegg: “e-Blast ULTIMATE Black-Friday Sale – UNREAL 24-HOUR ONLY Codes UNLOCKED.” The fact that they used capitalized and lower-case letters makes the subject slightly difficult to read. Also, shoppers do not want to receive e-Blasts, rather they want personalized emails with relevant content.
  5. Quality Service & Speed of Delivery – On Black Friday & Cyber Monday people are actively shopping, not just casually browsing. If they can’t find the answer right away, they’ll move on to another store. So be sure to put emphasis on your customer service during this period, maybe even bring in some additional help. And of course – make sure your merchandise actually arrives on time for the holidays! Last year, Amazon offered $20 gift cards and refunds on shopping charges to customers after undergoing delivery problems. How do you be certain this won’t happen to you? Be prepared for last minute shoppers, and make sure to only promise delivery deadlines that you can meet.

Source: http://blog.payoneer.com/5-ways-to-make-history-on-cyber-monday-black-friday

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