The opinions expressed by Entrepreneur authors are their very own.
As the holiday shopping season, which usually runs from November 1 to December 31, approaches, the query arises: How are you able to make the most of it? It will reach its peak during the so-called Cyber Fridays, or the Cyber Week that can generate 16.9% all revenues during the holiday season.
Let’s look at strategies that will assist you get through this busy time and maintain a regular stream of conversions in the future.
1. Maintain healthy margins and customers save
Instead of offering blanket discounts, a tiered discount system that increases based on basket value encourages larger purchases. Offering different levels of discounts motivates customers to spend more to maximise savings, which increases average order value (AOV).
For example, offer 10% off a $50 order, 20% off a $100 order, etc. By combining upselling opportunities, selling high-margin products reduces the impact on overall profits. For example, show customers complementary items to extend their total order value, comparable to adding a phone case to their smartphone to succeed in $500 and unlock 15% off. This spreads the discount across products, balancing costs, and customers enjoy savings.
Another approach is to sell high-margin packages with small discounts. Offer complementary or related items to the essential product so that the customer reaches a certain order value and receives a discount. Customers perceive that they are transacting, but higher margin products help offset costs. Finally, leverage your customers’ behavioral data to supply real-time incentives. For example, you possibly can arrange a personalized pop-up that appears after a user has viewed several products and suggests orders over $100 to receive a 20% off coupon on their next purchase. This keeps current margins at a reasonable level while encouraging repeat purchases.
2. Incentivize with exclusive offers beyond early access
Offering early access to BFCM can increase sign-ups, grow your subscriber list, and reduce your customer acquisition costs. The increased value that comes from early access motivates a prospect to convert to a customer the moment sales begin and maintains customer loyalty. You have a win-win situation:
- Customers have a higher likelihood of getting the items they need without encountering a “sold out” message.
- You will scatter the traffic on your website.
- Your brand advantages from greater engagement, which may turn into loyalty.
Early access itself is a big advantage, but you may also encourage registration with additional advantages. The average cart abandonment rate is 82%With 62% consumers cite high shipping costs as the essential reason. The higher the order value, the less willing they are to pay for delivery: 19% will not pay for an order value EUR 15, 27% for an order value EUR 50 and 35% for an order value EUR 150. A strategically timed pop-up offering free shipping on orders above a certain threshold, displayed when a shopper is about to exit, may be each cost-effective and highly attractive to customers.
Plus, offering early access on Black Friday to your most energetic customers or loyalty program members strengthens relationships with your highest lifetime value audiences. A way of exclusivity and urgency will encourage your consumers to reap the benefits of the “not for everyone” offer as quickly as possible. Examples of this approach are the LEGO and Sephora Insiders programs.
3. In-Game Shopping: Excite visitors and generate more conversions
Gamification adds interactivity and a sense of reward to the purchasing process, increasing engagement and encouraging visitors to spend more time on your website. Earning discounts, accumulating loyalty program points or participating in challenges increases conversion rates, increases AOV and reduces cart abandonment.
Gamification involves adding game-like elements to the traditional purchasing process. A typical example of e-commerce gamification is the pop-up wheel of fortune. Claspo data shows that the Spin the Wheel popup has a 41% higher conversion rate than countdown timer popups. You can assign various incentives to wheel sectors, comparable to discounts, free shipping, gifts or Christmas packaging. With an advanced rewards management system, you possibly can set the winning probability for each incentive – for example, 55% for 10% off, 30% for a gift, and 15% for free shipping – allowing you to effectively manage your prize pool inside your budget.
This interactive element keeps shoppers engaged, and the uncertainty of the reward increases their excitement for internal achievements. As an advanced tactic, behavioral data may be used to trigger pop-ups only when needed, when the user is about to exit or leave the cart, motivating them to finish the purchase with a special discount.
4. Flash Deals and Countdown Thrills: Create FOMO
Black Friday is already a limited-time event, but you possibly can create FOMO with flash sales. The very limited duration of such promotions creates a sense of urgency and scarcity among consumers, forcing them to make immediate purchasing decisions. This approach is effective at generating interest in high-demand products and clearing seasonal inventory.
Flash sales induce FOMO, which is a strong psychological motivator and forces browsers to make immediate purchasing decisions. Timed promotions or hourly flash sales encourage consumers to ascertain your website throughout the day for the latest offers. You may introduce a secret flash sale, keeping your inventory a secret, which is especially effective during BF when shoppers expect limited-time or exclusive offers.
Before the sale, encourage visitors to depart their email to be the first to receive the notification, and during the event, display a pop-up with a timer that will inform them about the ongoing promotion and the countdown to its end. Our clients have discovered that pop-ups with timers and attractive offers can increase conversions by 112%. As an advanced tactic, A/B testing may be used to find out the simplest flash selling moments based on customer engagement data.
5. Put user experience first
WITH 48% consumers fastidiously examine products before purchasing and (*5*)62% consumers say that they will be more willing to purchase a product after seeing it, the availability of knowledge is crucial. Enhance your product pages with user-generated content comparable to customer photos or videos from reviews and social media. Especially, this sort of content is often missing across multiple sites, so there is potential for growth and conversions.
Another approach to improve user experience is to make use of information pop-ups, especially for latest visitors. For example, if Black Friday deals are limited to specific products, a pop-up or sticky strip informing users about the sale ensures that shoppers don’t miss out on any deals. One of found by our clients that pop-ups promoting discounted products increased cart additions by 15% and sales by 19%.
An essential last-minute tactic
Small actions taken early can yield big results, and their impact will last throughout the holiday season. Ideally, preparations for Black Friday would start in the summer, but there’s still time to get things moving. Google data shows that by December, shoppers are making lower than half of their planned holiday purchases, meaning there are still opportunities to capture additional sales, even after BFCM. Attract first-time buyers with early access, retarget buyers who showed interest but didn’t convert with gamification, and engage returning visitors with exclusive offers.