The holiday season is almost here as we come to the end of 2019. One of the highlights of the holiday season is the arrival of the king of holidays i.e. Black Friday. If would not be wrong to say that Black Friday is the contingency for businesses around the globe.
Black Friday started a long time ago. In business terms, red represents loss and black represents sales. The most common myth is that holiday sales showed black in the balance sheets of retailers after a year-long red, hence the name Black Friday. Cyber Monday started as a version of Black Friday for ecommerce solutions.
Holiday sales make up more than 30% of the annual sales and for many businesses, it means way more than 30%. Last year Cyber Monday accounted for $6 Billion. Black dominated the market in 2017 with $5 Billion in sales.
According to ecommerce experts, these facts are expected to grow even more this year as ecommerce is set to cross $4 Trillion a couple of years. People are getting more and more morbid with time and after heavy meals of Thanksgiving, their chances of going out to shop for holidays get slimmer with every bite of turkey.
Let’s discuss some tips to help you skyrocket your holiday sales.
In order to stay ahead of the competition, the best approach is to get ready before time. With three months remaining, now is the time to get ready and start preparing your customers for the upcoming event.
Use promotional banners on your website and start a campaign about the promotions you are going to offer to your customers. Use electronic media as well as digital media to reach your current and potential customers. This can be your gateway to access new customers and test new markets.
Be careful about the discounts:
Discounts might look like an easy way to solve the sales problem. But the biggest issue behind it is that it devalues the brand. Low prices are very intriguing for customers but the customers that get used to paying less for products stop measuring it with value.
They will wait for you to offer a discount without looking at the product value. This can be very demeaning and discouraging for a brand. That why it is important to strategize before you offer a discount that is not affecting your brand value.
The easiest solution to this problem is that you offer bundles and avoid offering percentages. When you offer a discount on the total price of a bundle you are not specifying a single product which is good for the brand image.
Scarcity has always been a driver of customers for centuries. By adding a count down on a product show the value of the product. A count down at the checkout page boosts your customer’s trust in the product. A customer feels more inclined to buy a product as it triggers impulsive decision making. Stats show that up to 40% of Black Friday customers regret their buying decision.
Use Social Media and Email Marketing:
What better way to spread your message to customers than using social media. With the majority of youth and online buyers looking for suggestions and offers on social media the best strategy for your business is to utilize social media as much as possible. Mobile commerce is off the charts and the biggest reason is that they see something online and start searching for it.
Email marketing is getting more popular because people like a promotion to be in their inbox than in their faces. So, an email with a detailed product recommendation, clear CTA, and delivered at the right time is the best approach for your ecommerce website.