The Art and Science of the Perfect Black Friday Offer.
To stand out in the crowded market, you need a killer offer that captivates your audience and entices them to shop. Crafting your offer will can be the difference between a rocking Black Friday and a flop - read on for our top tips.
Potential offers:
Short of ideas? Here are some potential offers you could run:
Fixed % off
Save £10 for Every £100
Free Fast Shipping
Gift Wrapping
New Products
Early Site access
Upsell-cross sell.
Gift With Purchase
Email Specific Deals
Buy One Get One free
Bundle Offer
Mystery Box
Set Clear Goals Before You Decide your Offer
Define your Black Friday goals. Are you looking to increase revenue, acquire new customers, or boost your average order value? Your offer should align with these objectives.
For instance, if you want to acquire new customers, consider offering a first-time buyer discount. If your goal is to increase order values, offer a tiered discount system where the more customers spend, the more they save.
Know Your Audience
The first step in crafting the perfect Black Friday offer is to understand your audience inside and out. You need to know their preferences, pain points, and buying behavior. By conducting in-depth customer research, you can gain insights that will help you tailor your offer to their specific needs.
Segment your audience to create personalized offers. For example, if you have a tech-focused e-commerce brand, consider offering exclusive discounts on popular gadgets, whereas a fashion brand might offer deals on the latest trends. The key is to cater to what your audience desires most.
Analyze Past Performance & Test Offers Early
Review your historical data to gain insights into what has worked for your brand on Black Friday or in sales in previous years. What were your top-performing products? Which types of offers garnered the most attention? This data can be invaluable in shaping your current strategy.
Test different types of promotions, such as "Buy One, Get One Free" or "Limited-Time Flash Sales," to see what works well for your brand, consider incorporating them into this year's offer.
Identify your bestsellers or products that attract your highest-value customers and offer Black Friday deals on those products.
Competitive Analysis of Your Competition
Keep a close eye on your competitors. What offers and promotions are they planning for Black Friday? By monitoring their activities, you can identify opportunities to differentiate your brand and offer something unique.
You don't necessarily have to outdo your competitors with the deepest discounts. Instead, focus on creating a distinctive value proposition that sets you apart. It could be exceptional customer service, bundled products, or exclusive early access for loyal customers.
Be Mindful of Profit Margins
While offering significant discounts is a Black Friday tradition, it's essential to be mindful of your profit margins. Don't price your products so low that you sacrifice your bottom line. Calculate the minimum discount you can offer while still attracting customers and maintaining profitability.
Consider bundling complementary products together or setting a minimum purchase threshold to qualify for the discount. These strategies can boost average order values without jeopardizing your margins.
Create a Sense of Urgency With Your Offer
Black Friday is all about urgency and excitement. Use scarcity and time limitations to encourage shoppers to make quick decisions. Leverage countdown timers, limited stock announcements, and flash sales to create a buzz.
Additionally, consider offering exclusive early access to your loyal customers or newsletter subscribers. This can drive engagement and anticipation leading up to the big day.
Pick The Right Length Offer For Your Brand
Will it be just BFCM weekend or begin earlier in the month?
Longer campaigns lend themselves well to high AOV brands - as they’re more considered purchases. Also have higher CPAs and therefore less conversion data entering the account - needs more time to optimise
Short-term campaigns really good for impulse purchases, can really lean into the urgency and take advantage of this massively high-intent period
Make The Offer Simple!
Don’t make it too complicated, or not high enough value. ESPECIALLY due to the current economic climate, and impact it will have on consumer confidence and buying behaviours
People don’t like math - often dollar-off is more effective than percentage off - but ideally you have tested both on your audience and know which one works
Don’t forget, our team are here to help accelerate your eCommerce business with Facebook, Google, TikTok and Pinterest ads and Klaviyo email marketing.
Let’s chat about your business and goals - email us on hello@webtopia.co
