27 Sep 2024
5 tips for optimizing your Black Friday & Cyber Monday promotion in 2024
Black Friday and Cyber Monday (BFCM) are a must for eCommerce merchants. With ever-increasing demand and consumers on the lookout for bargains, 2024 demands meticulous preparation. The importance of unified commerce continues to grow, enabling companies to offer a seamless customer experience, whether online or in-store. Here are five tips for preparing an effective BFCM promotion adapted to this new reality.
To find out more about the importance of good planning, read our article “Advance preparation for a successful Black Friday and Cyber Monday”.
1. Extend the duration of your promotion
To reduce logistical pressure and provide a better customer experience, many companies now extend their promotions over several days or even weeks. In 2024, a unified commerce approach enables you to synchronize your offers across all your sales channels (website, marketplaces, physical stores) to deliver a consistent, optimized experience for your customers.
Here are a few examples of promotions that go beyond BFCM:
- Launch a “Cyber Week”: Rather than concentrating promotions on a single weekend, extend them over an entire week (or even a month!), with offers that evolve each day. For example, start the Monday before Black Friday with moderate discounts, then gradually increase the reductions until you reach the best offers for Cyber Monday. This helps to manage traffic and stagger orders to avoid overloads.
- Early access to offers for subscribers: Give your VIP newsletter lists and loyal customers exclusive access to promotions 48 hours before everyone else. For example, “Pre-BFCM: access our best offers from Wednesday for members of our loyalty program”. This approach creates a sense of exclusivity and encourages sign-ups to your loyalty program or newsletter, while allowing orders to be distributed over several days.
- Extend promotions beyond Cyber Monday: Extend promotions beyond the weekend with an “Extended Cyber Weekend”. For example, offer additional discounts for latecomers or those who missed out on the main offers. This can include free delivery or a gift with purchase for purchases made between Tuesday and Friday following Cyber Monday, keeping customers interested while spreading out order management.
For a better orchestration of your campaigns during BFCM, read How to prepare your communications for Black Friday, Cyber Monday and Giving Tuesday.
In brief, extending the duration of your promotions enables you to better manage your logistics flows and optimize the customer experience at all your points of contact.
2. Propose creative and different offers
Faced with increasing competition, it’s essential to stand out from the crowd with original promotions. From exclusive offers to progressive discounts, originality is the key to attracting consumers’ attention. In 2024, unified commerce makes it possible to personalize these offers according to your customers’ buying habits, whether online or in-store.
Here are some ideas for promotions that might inspire you:
- Progressive discounts: Offer discounts that increase with the amount spent. For example, “20% off for $100, 30% off for $150 and 40% off for $250 or more”. This encourages customers to spend more and feel rewarded.
- Exclusive BFCM bundles: Create bundles of products only available during BFCM. These bundles can include best-sellers combined with less popular products, helping you to clear stock while creating a unique offer.
- Mystery offer: Offer your customers a surprise when they make a purchase. For example, “Receive a mystery gift for any purchase over $50”. This approach creates excitement and a sense of rarity around the promotion.
- Discounts for first buyers: Offer special discounts for the first buyers of the day. For example, “The first 100 customers of the day receive 50% off”. This creates a sense of urgency and exclusivity for buyers.
- Contest with every purchase: Turn the purchasing process into a fun experience by organizing a contest during BFCM. For example, for every purchase made, the customer has a chance to win an exclusive prize, such as a free product, a voucher or an additional discount on their next order. You can use a wheel of fortune or instant draw system, accessible directly on your site, creating an element of surprise and engagement.
For more inspiring campaign ideas, especially for events like Giving Tuesday, read our article “Giving Tuesday campaign ideas”.
What’s important to remember is that creative promotion, aligned with your customers’ expectations and behaviors across different channels, increases their satisfaction and your sales.
3. Exploit cross-sell and upsell
BFCM is an ideal time to maximize the value of every transaction. Offer cross-sells and encourage your customers to opt for premium versions of their products (upsells). With unified commerce tools, you can offer real-time, personalized recommendations based on data collected across all your channels.
Here are a few upsell and cross-sell strategies that may be of interest during BFCM:
- Complementary product recommendations: Suggest complementary items directly on the product page or in the shopping cart. For example, if a customer is buying a phone, you can suggest accessories such as a protective case or headphones. Use tools like “Frequently Bought Together” to automate this strategy.
- Premium upgrade offer: When your customers select a product, offer them an upgraded version at a reduced price. For example, if a customer chooses a basic subscription to a service, offer an upgrade to a premium package at a 20% discount. This also works well with items such as electronics or clothing.
- Exclusive product bundles: Create bundles by combining products that complement each other well. These bundles are presented as a BFCM special offer, encouraging customers to buy more while saving money.
- Discounts on additional purchases: Offer a discount on one item when the customer buys another. For example, “Buy one pair of shoes and get 30% off a second pair”. This approach stimulates multiple purchases and encourages customers to explore different product categories.
- Additional service offers: For certain products, offer an additional upsell service, such as an extended warranty or personalization service. This works well for more expensive items such as appliances, jewelry or furniture. It’s also a good opportunity to encourage customers to visit you in store.
If you’d like to better understand how to leverage your customer data in this key period, read our article “Understand your data and seize opportunities in Q4”.
4. Reward your loyal customers
During BFCM, the cost of acquiring new customers (CPA) generally increases. It therefore becomes essential to capitalize on your loyal customers. Offering an exclusive promotion to regular or VIP buyers reinforces their commitment and loyalty. In 2024, unified commerce enables you to reward these customers seamlessly, whether they buy online or in-store.
Here are some ideas for rewarding your best customers:
- Exclusive VIP offers: Reward your most loyal customers with additional discounts or free products, available only to them during BFCM. For example, “VIP members receive an extra 10% discount on all our promotions”.
- Boosted loyalty program: Double loyalty points for every purchase made during the BFCM period, keeping your loyal customers coming back for more. “Earn 2x more loyalty points on all your purchases from Black Friday to Cyber Monday”.
- Exclusive event for loyal shoppers: Organize a special online event just for your loyal shoppers, where they can preview your new collections and benefit from exclusive discounts. For example, “Join our live VIP event on the Thursday evening before Black Friday, with special offers reserved for our best customers”.
To better understand how to improve your performance during this period, discover our tips in the article “5 ways to improve your eCommerce performance during high season”.
5. Rely on gift cards
Gift cards are often underestimated, but they represent a powerful lever for loyalty and cash generation. In 2024, make sure your gift cards are easily accessible and usable both online and in-store. Unified gift card management allows you to offer your customers maximum flexibility while optimizing your cash flow. They also enable you to postpone certain purchases you would have made during the busy season, and put them off until the quieter season.
How do you use gift cards? Here are two examples:
- Enhanced gift cards: Offer added value on your gift cards during BFCM. For example, “For every $100 gift card, receive $120 to spend. This strategy encourages customers to buy immediately, while guaranteeing that they’ll come back later to use up their balance.
- Complementary gift card: Use gift cards as a loyalty tool by adding them to your sales. For example, include a $20 gift card in every order of $100 or more. This increases the value of the average basket and ensures that your customers will come back to enjoy their gift.
To find out more, read our article “How to adapt your eCommerce marketing strategy to seasonal trends”.
In 2024, a successful BFCM promotion requires an omnichannel approach, in which unified commerce plays a key role. This enables you to offer a consistent, optimized experience to your customers, regardless of the channel they choose. Novatize can help you design and implement high-performance eCommerce strategies tailored to your needs. To help you prepare for this crucial period, contact us today.
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