8 Black Friday Marketing Strategies
Here are 8 Black Friday Marketing Strategies to help you get started. No matter where we are or what we do for a living, once we’ve changed the clocks for winter daylight saving, hearing the term ‘Black Friday’ gets our pulse up and running.
For most of the online world, the notion of Black Friday weekend came out of nowhere, some 15 years ago. Since then, this gargantuan retail opportunity has continued to grow exponentially, benefiting all avenues of business.
Should I Invest Resources in a Black Friday/Cyber Monday Campaign?
As customers, it’s pretty obvious that we can’t afford to miss out on such an opportunity, but what about online business owners and marketers?
Should small or medium businesses (SMBs) dedicate huge chunks of their resources to go up against the giants of the industry? Or should we wait until the giants have finished slugging it out to win customer’s attention and have lost their competitive momentum?
The short answer is yes. As a business owner, you shouldn’t wait because Black Friday is worth the risk.
The retail data analytics company Sensormatic Solutions predicts that Black Friday will remain the busiest shopping day in the United States in 2021. Almost half (48%) of shoppers plan to spend the same amount of money or increase spending from 2020 to 2021.
And considering the burst of sales the holiday shopping season saw in 2020, the outlook for 2021 looks very positive.
Last year, retailers saw a record number of online Black Friday shoppers, which passed 100 million for the first time. Despite the closure of brick-and-mortar stores, the pandemic didn’t have a significant negative impact on consumer gift-purchasing behaviors.
Moreover, 77% of shoppers indicated an interest in supporting small businesses during the 2020 holiday shopping season.
For SMBs, it’s important to consider not just Black Friday but the period known as Cyber 5, which runs from Thanksgiving through Cyber Monday and includes Small Business Saturday.
Trends Impacting Black Friday and Cyber 5 This Year
First things first, before you put on a brave face and undertake those risks, it’s helpful to know how the 2020 pandemic has impacted consumer behavior and what to expect for the “new normal” of shopping.
Here’s a look at some of the key takeaways from Mintel’s 2021 Global Consumer Trends Reports:
- Increased focus on mental health and wellbeing opens the door for innovative brands.
- More concerns about large corporations abusing data and technology.
- Increase in consumer demand for brands that support social changes.
- Consumers are seeking brands that positively impact their local community.
- Value shifts towards essentials, minimal consumption, affordability, convenience, and durability.
- Accelerated demand for sustainable places.
- Increased dependence on digital experiences to connect brands to consumers.
Some retrospect about how consumers shopped online for Cyber 5 2020 as shared by Radial:
- Consumers spent $10.84 billion on Cyber Monday and $9.03 billion on Black Friday.
- Black Friday and Small Business Saturday gained more share of Cyber 5 spend than Cyber Monday Sales.
- Small Business Saturday brought in 68.2 million online shoppers – an increase of 17% (or almost 10 million consumers) compared to 2019.
- Online-only shoppers increased by 44%, totaling 95.7 million consumers.
- More than 50 million consumers shopped online and in-store, while just over 40 million individuals shopped in-store only.
And now, for what’s expected in 2021:
- Black Friday will remain more of a week of shopping deals rather than a day.
- Consumer concerns about labor shortages and shipping delays will prompt an earlier start to the peak holiday shopping season.
- All major retailers are expected to close on Thanksgiving Day 2021.
- Online shopping on Thanksgiving Day is expected to increase due to fear of popular items selling out by Black Friday.
- Combined online sales for Thanksgiving Day and Black Friday are expected to top $17 billion.
Although we’re still navigating the new normal and discovering which pandemic-induced trends are here to stay, we cannot afford to sit on the sidelines.
At the very least, our goal should be to gain awareness, drawing as many users as possible into the top tier of our sales funnels. This way, the next time they come across our now familiar brand, there’s an increased likelihood they will follow through the funnel, resulting in interest and commitment.
This reward is achievable.
Better yet, working with WordPress means we don’t have to over-commit our resources to accomplish it.
However, we need to bear in mind the impressions we create during this weekend will influence our businesses over the coming months, which is why we need to be strategic.
Starting as early as October, customers and marketers from all over the physical world will face one another in the field of online commerce. Each armed with strategies based on years of experience, savvy, and intuition.
Inevitably, customers learn to see through banners, popups, and catchy copy. While many customers have become skilled at finding the best bargains online, marketers are forever trying to play the SEO game and beat Google’s evolving system of algorithms.
Some marketers will change tactics and begin campaigning special offers weeks before Thanksgiving to get ahead of the game.
However, you might be better off launching a creeping campaign, establishing awareness among customers over Cyber 5, using minimum resources, and then slowly cranking up the campaign over the coming weeks until the end of the year.
Are your products and inventory online?
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