Black Friday, the biggest shopping day of the year (this year on November 23), is just around the corner and this means we’re one step from the official holiday season 2018. For all multi-channel retailers, the rule is simple – in order to turn big profits you need to prepare your business as well as your e-commerce platform for the shopping madness. Here’s what you need to do.
Two months of shopping madness
Black Friday has had a way of expanding over the last few years. Today, it’s recognised as the official start of the holiday season and a very important time for online sellers worldwide. It’s a time when many of them earn up to 40 percent of their yearly revenue. 40 percent! And this shouldn’t be a surprise as Black Friday, Cyber Monday, and Christmas are merging into one, global, monstrous two-month-long shopping madness. Oh, and then you have the January sell-outs.
We already know Black Friday 2018 deals and shipping prices for Best Buy, Target and Walmart and trust us – they’re better than ever before! Amazon, meanwhile, is most likely to have the cheapest TVs you can buy this year and huge discounts on its own popular Echo, Alexa, Kindle and Fire ranges. So, forget about the nightmarish parking situation, huge queues, and frenzied crowds.
How to prepare for Black Friday?
Black Friday is the greatest opportunity to make good sales. However, to maximize revenue potential and properly serve customers this holiday season, you need to ensure that your business as well as your website are primed and ready. So, here’s what you need to do.
Prepare your webshop:
1.Have a good mobile version
Mobile is as important as desktop and thus, retailers who don’t take a mobile-first approach will be left behind. Therefore, you must optimise your site for mobile. It’s a reasonable decision to have a different webshop version for both mobile and desktop. For mobile version, remove all decorative elements that slow down the page loading time and improve the navigation bar by limiting the number of menu items.
2. Increase your website’s performance
It’s possible that your website’s traffic will go up by 100x for a week of time. Make sure your e-commerce platform can handle that. Start with optimising all pictures and your design theme for better performance. Also, select a fast and reliable hosting server and start using Google Tag Manager to successfully track your campaigns and promotions. Also, GTM help your site load faster depending on how many tags you are using.
3. Offer one-click purchases
The golden rule of online sales says: ‘the fewer clicks the better’. Back in 2000, Amazon introduced one-click buying to circumvent the typical shopping cart form (name, address and credit card information) and allow people to make purchases with just one click. That was a game changer. Today, you can increase your sales by reducing the amount of effort it takes to buy something. Ask your payment services provider whether one-click purchases functionality is already available for your business.
4. Promoted products
More exposure means more positive influence, and more positive influence means higher conversion rates. Carefully choose which products to display in the promoted section and don’t forget to sharpen up the pictures and product descriptions. If you want them to be the “crown jewels”, all product-related content (descriptions, product media, product relations) needs to be flawless.
5. Omnichannel distribution
Creating seamless omnichannel experience for your customers is impossible without investing in your organization’s technology capabilities. Even if you have an excellent in-house IT team, you might not yet have skillset or vision needed to kick off an omnichannel transition and see it through to completion. For example, a quality Product Information Management (PIM) platform is the backbone of any robust multichannel or omnichannel philosophy.
Prepare your business:
1. Black November
People have already noticed that the best deals aren’t only found on Black November. In fact, many retailers are rolling out promotions even sooner, from the beginning of November onward. It may be a good idea to start your clearance sale in mid-November and then smoothly transit into Christmas sales.
2. Don’t forget about Cyber Monday
Today, Black Friday has morphed into a four-day event, and spawned other “retail holidays” such as Thanksgiving and Cyber Monday. Keep this in mind and offer incentives, such as “$5 off” coupons or free shipping on Cyber Monday to attract more customers. BTW, Black Friday 2018 falls the day after Thanksgiving, take it into consideration.
3. Sell your products on social media
People are also discovering products via social media. Therefore, whatever social platform you are using (Instagram, Facebook, or something else entirely), be sure to use social media to sell your products. Oh, and don’t forget to inform your customers about promotions and special offers, so prepare a few catchy to be published between Nov 19 and Nov 23.
Have a great Black Friday 2018!
Preparation, planning in advance and starting earlier rather than later, are all keys to a successful Black Friday 2018 and the entire holiday season. We believe these guides should cover most of what you need to know for this year’s upcoming sales madness. Have a great Black Friday!
Interested in product information management, but not sure where to start? Contact us to learn how a PIM solution can boost your e-commerce strategy.