Black Friday 2020 will be celebrated on 27 November, a date on which online sales are expected to see a significant increase. Despite already being positioned as one of the great annual events for eCommerce businesses, the situation created by the COVID-19 pandemic has resulted in retailers focusing their efforts even further into online sales and promotions. At the same time, a large number of businesses are expected to extend their offers to the weekend or even for the entire week in order to offload the stock they haven’t been able to sell due to the health restrictions. In this unusual context, the market is becoming even more competitive, so you must be prepared and have automated pricing tools to make the most of Black Friday and optimise your sales volume. To achieve this, we recommend that you follow these guidelines:
Update your eCommerce business’s prices and product catalogue
You should completely review the prices of your products—and not just the ones that you’re most interested in promoting on Black Friday. Your sales will also serve as a lure to get customers to check out additional undiscounted products, especially with Christmas right around the corner. To do this, we advise carrying out an in-depth analysis of the prices of your competitors and updating your own prices based on the needs of the market, without forgetting to consider what discounts would be the most appropriate for each of your audiences.
At the same time, you can reorganise how your products and/or services are presented in your catalogue to offer users a captivating experience and increase your conversion rate. One interesting factor to keep in mind, above all for those eCommerce businesses that offer products from various sectors, is the best-selling products ranking from the past few years. Even though Black Friday has traditionally been associated with the sale of electronics, the most recent data reveals that the list of the best-selling products is led by the health and beauty sector, then sporting goods, and in third place, the technology sector.
Strengthen your customer acquisition channels
For this, it’s important to:
- Launch online advertising campaigns
- Design email marketing campaigns, and
- Improve the positioning of your website
Launch online advertising campaigns
During the weeks leading up to Black Friday, you can launch advertising campaigns, both on Google as well as on your most active social networks, to start building your target audience’s excitement for these future discounts. Don’t wait until the day before.
Design email marketing campaigns
Take advantage of your customer segmentation to send them personalised emails with tailor-made offers. The email conversion rate during this event is estimated to increase by up to 300%. You can send an original message or include loyalty items, such as a unique discount code for a certain type of customers.
Improve the positioning of your website
Web searches also occupy a prominent position in user behaviour on Black Friday. Your eCommerce website and every product in your catalogue need to be well positioned to appear within the first search results. So, make sure that they have the corresponding metatags and review both your descriptions and keywords.
To gradually implement these recommendations and boost your sales success, an eCommerce business needs time and good planning. Good coordination between all departments is key to captivate potential buyers and meet the peak demand on these dates. Faced with this challenge, companies can count on the advice and guidance from a group of pricing experts to ensure that they follow the best practices.