Gan.ai

gan_ai_logo

6 Expert Tips to Take Your BFCM game to the next level!

Video Marketing Trends 2023 | Best Tips and Practices to Follow - blog banner

Get ready to dive into 6 BFCM tips that can take your Black Friday and Cyber Monday (BFCM) game to the next level!

 

Shared by top D2C experts, these six BFCM tips offer insights into sustainable customer engagement, steering away from the typical short-lived revenue boost, influencer strategies, retention tactics, and a glimpse into BFCM 2023 scenarios.

 

Let’s dive in and gear up for a BFCM that goes beyond the ordinary, promising a year-round impact on your brand’s success! 

1. BFCM Isn't a One time Revenue Event

by Neal Goyal

 

Last year…. Your brand’s BFCM success showed a false-positive.

 

Huge revenue spike….

 

Only to see that 97% of those shoppers never came back for a second purchase.

 

So your LTV in Q1/Q2 for BFCM-acquired customers looked like 💩

 

And with no #LTV, those sky-high BFCM customer acquisition costs had eaten up 100% of those profit margins.

 

Then you spent June and July wondering why profitability was down.

 

Don’t let that situation repeat itself.  Use #BFCM not just as a one-time revenue event… but a moment to capture those customers in high-retention channels that will fuel repeat purchases in the new year.

 

Because remember, retention begins at the moment of acquisition. 💡

2. BFCM Tips That Can Work For Everyone

By Adam Kitchen

 

 

Black Friday advice everybody can benefit from in ecomm, starting today.

 

1. Do a summary of your best-selling offers in the past year 💰

 

Use these as guidelines as to what promotions will be most effective during Q4.

 

A lot of the times I speak to brands who have a disappointing BFCM, it’s because they tried to get too creative and their offers fell flat.

 

Now isn’t the time for experimentation for many – it’s the time for consistency and ensuring you hit your forecast. That becomes a lot easier to achieve when you’re already picking winning campaigns.

 

2. Launch a Direct Mail campaign to your VIPs who haven’t purchased in over 6 months 📫

 

Reactivation campaigns around BFCM are likely to be ineffective over email/SMS as the inbox is incredibly saturated.

 

Instead, reactivate these customers with a direct mail campaign in a way to try to get them active again on your list.

 

Create a segment of anybody that’s placed over 2 orders over all time but hasn’t purchased for 6 months and aim to get these customers back top-of-mind in October.

 

Speak to the PostPilot team to get up and running pronto.

 

3. Tell your customers the schedule ahead of the day 📆

 

I like to condition customers to check their inbox at very specific times, letting them know what the offers will be and how long they’ll be available for.

 

Why? Because it conditions customers to consciously check.

 

During a period when the noise in the inbox is overwhelming, this gives you a clear advantage in gaining attention.

 

3 Influencer Marketing Tips for BFCM

By Barney Brown

 

 

5 (MUST DO) influencer marketing tips for Fashion & Lifestyle brands heading into Black Friday …

 

🚀 Replicate wins from last year

It amazes me how many brands ignore last years creative. Make sure you’re implementing tried and tested winning practices

 

 

🚀Secure influencer collabs early 

The early bird gets the worm. In-demand creators get booked up quick and charge an average of 36% more when their schedule is tight!

 

 

🚀Kill your discount codes 

If you’re still using discount codes to track influencer collabs… now is your time to stop. Not only does it devalue your brand, but it will be lost in the sea of Black Friday bargains.

 

 

🚀Models < influencers

Booking your models for social content shoots? STOP! Book influencers instead. We’ve brought huge success to 4 of our clients by implementing influencers into their campaign shoots and web imagery.

 

The results have been insane – Not only can you test these influencers with UGC content before you book them for a shoot, but they will also bring the immense power of their audience to support your brand when the content goes live.

 

 

🚀Stock up on ad creative and UGC 

Last year we saw ad fatigue kick in twice as quickly over the Black Friday period so you need to at least double your creative input, and THEN multiply for increased testing too. If you’ve not already increased your flow of inbound ad creative, get in touch to see how we can help.

 

 

BONUS: Are you using Country-specific creators on your ads? Check out the post linked in the comments to see how a simple change can SHRINK your CPA’s in Q4 

4. Five Retention Marketing Tips for BFCM

By Jordan West

 

 

💵💵 My 5 biggest takeaways to make big 💰💰 this #bfcm from Ronak Shah’s masterclass in retention marketing this morning at the Sendlane event today 👇

 

1. When someone abandons cart – offer a mystery gift in the flow – some coding on the backend but an insane offer compared to a discount 💰

 

2. Everything is access based. (You guys know I love this ❤️)

 

Any new product has to be access based so messenger, sms, community, Tiktok follow, app download

 

3. Interactive email content – looking into Litmus for this 🤯

 

4. Landing page for email opt in 👇

 

2 step email opt ins that go to a landing page – then optin 💰

 

5. Take some over your emails and turn them into landing pages

Your best emails make amazing landing pages – looking forward to trying this one out!

5. Bull and Bear Case Scenarios for BFCM 2023

By Rick Watson

 

 

Holiday Season Data Bonanza: Retailers Focusing On What They Can Control, Hoping for the Best

 

Many retailers are still focused on their bottom lines (it’s what they can control) while doing their best to understand consumer behavior, and trying to limit their downside risk as much as possible.

 

Bull 🐂 case for the holiday season:

 

* Consumers in YOLO mode. Because housing prices are so high, many middle-class have given up saving for a house .. challenge for many brands is that they are reallocating money to experiences/vacations, luxury, etc.

 

* Top retailers will be fine. Amazon, Walmart, Costco. Target seems to be repositioning down-market to get the consumer’s attention again.

 

A friend of mine at a major brand just said to me you are either Louis Vuitton are you are Walmart right now, there is not much middle. I agree with her.

 

* Mastercard says holiday spending is up 3.7%, (Deloitte predicts 3.5 – 4.6%) with eCommerce up 6.7% (Deloitte predicts between 10.3% and 12.8%). I think you will see a lot of small and mid-market merchants do well, just because of the gifting season.

 

* Labor market is still “strong to quite strong”, which is similar to what Ben Stiller says to Owen Wilson in Meet the Parents about his stock portfolio…. and with about as much conviction.

 

* October is already the start of the holiday season, so hope you’re ready ;-). Consumers getting an early start this year again, but that will be tempered by knowing Cyber Monday will probably have the absolute best deals for electronics and related items.

 

Here are the bear 🐻 considerations:

 

* Inventory levels are leaner across the board, which at some point limits the season’s upside. However, I think retailers selling through their inventory and hitting their forecasts they would put in the “good problem” bucket.

 

* Apparel could be challenged according to Mastercard, meaning flat to down. GlobalData suggests home goods could struggle as well.

 

* Inflation was up 0.6% month/month in August, and up 3.7% over last year.

NRF chief economist is reporting that consumer spending momentum is slowing.

 

* That student loan repayment thing, though.

 

* UBS found consumers are feeling cautious about things, which may not hurt the holidays because you have to buy gifts for friends.

 

* Deloitte says that deals will continue to be a huge focus for consumers, which will squeeze margins.

 

All in all, another mixed season but there is still some hope depending on your category and price points. After all, people “need” to spend during holiday with their friends and family. You just need to be the type of product they can stretch their dollar with.

6. Ten Last-Minutes Hacks to Convert More Traffic Into Revenue This BFCM

By: Nigel Thomas

 

Here are 10 last-minute hacks any DTC brand can implement to convert more traffic this BFCM.

 

1- SMS restock strategy

 

As you know this weekend is a great time to clear stock. If that happens don’t turn off the ads though. Instead, include a form and collect phone numbers. Once new products are back, send out an SMS launch campaign to everyone who signed up. Trust me, the ROI can be huge.

 

2- Buy Now Pay Later

 

Considering the current economic climate giving your customers the option to buy now but pay later should help get a few more orders over the line. There are various options, depending on your setup.

 

3- Banners and Hero Images

 

Seems too simple but putting a banner at the top of your site to remind people of the discount they’ll receive at checkout will massively boost your conversion.

 

4- Enable Live Chat

 

When customers are getting hit left, right, and center with offers you need something to stand out. Talking to them through live chat support will set you apart and is especially effective for higher-value products, increasing AOV, and decreasing returns.

 

5- An Irresistible Offer

 

This one is the most important. A great offer, which your customers literally cannot pass up on, recession or not, separates the good from the great. Think outside the box, and offer something that creates an experience that can be shared online and offline.

 

6- Scheduling Budgets

 

Running ads this BFCM? Schedule all your campaigns out prior, to ensuring A) You get everything approved in time B) You have a rough idea of how much you’re spending.

 

7- Know Your Maximum CPA

 

In some ways BFCM can be a race to the bottom. To avoid this, calculate the maximum amount you can afford to spend to acquire each customer and just like if you’re at an auction (which you are), do not go above this number.

 

8- Creative Banners

 

Just like the banners on your site, include banners in your creative on ads. You’ll be surprised at how much a simple Canva edit can impact sales.

 

9- Upsells

 

Once someone has added products to the cart and initiated checkout you’ve already done the hard work. Just like Starbucks offers mugs and memorabilia at the counter, gives people a reason to buy. Various apps make this process seamless.

 

10- A-Z Customer Journey QA

 

Be honest with yourself. When was the last time you or one of your team members went through your entire customer journey from start to finish? Including seeing an ad in their newsfeed to buy the product. Before more traffic hits the site this is a great opportunity to assess your buying experience – I’d also recommend doing it on both desktop and mobile.

 

And that’s all she wrote.

 

Before We Bid Adieu 👋

I hope you enjoyed reading these tips like I enjoyed scouting for them. The aim was to scout tips that can help shape your Black Friday and Cyber Monday (BFCM) approach!

 

In case I fell short of your expectations, please chime in using the comment box. We’d love to know your thoughts.

 

 

And if you liked reading this, you’ll definitely love our other blog on DTC strategies— 8 D2C Advertising Tips from Seasoned Experts

Leave a comment

Your email address will not be published. Required fields are marked *