Don’t you just love the build up to BFCM? Even seasoned pros have a love-hate relationship with it and to let you in on a secret there’s STILL a slight fear of FOMO rattling round here as the too-early-tinsel starts decking the halls.
We talk a lot (I mean A LOT) about creating an eCommerce sales funnel and email follow up sequence being THE most effective way to scale revenues and save time; delivering ready-to-purchase customers. But I thought I’d expand a bit with some tips to sail the stormy sea of BFCM pressure.
So firstly - the Magic Formula:
Reality. There is no way to beat Facebook™, they have the hacks covered and you will not beat the algorithm. BUT ……you can learn to surf it.
Don’t worry about ROAS.
Coming from a digital marketer that’s a tough one to swallow – and honestly, we still talk ROAS as it’s ingrained in the language of our industry. BUT the most important numbers on your site (and what anyone interested in investing in, or buying your business will want to know) –
LTV – LifeTime Value
RCR – Repeat Customer Rate
There are actually just two ways to increase income to a store:
1. Decrease CPA. Or in other words make each sale cost less. So sign up to the hacks, and go yell at the agency (they love that 😉),
2. Increase AOV. You can control Average Order Value in a number of ways – but is basically boils down to getting people to BUY MORE STUFF.
Vitally (and you’ll be surprised how many don’t know) – Know Your AOV. This is an absolutely vital figure:
a. Use your AOV to set caps for Bumps at checkout (e.g in it’s simplest form – if your average order value is £50 offer free shipping at orders over
b. Bundles and check out supplements increase your order particularly if you highlight the saving offered
c. Post sale upsell – are you doing enough to bring your warmest buyers back?
d. Cross sell. Increase traffic by cross selling lines from a complimentary retailer. Yes, you’ll never make your fortune by adding their range to your
offering but choose your partners wisely and you can double your access to data.
So what’s this got to do with Black Friday Magic?
Well, those interested in a quick tip or hack will have stopped reading by now. So here’s the top tip of all for surviving Black Friday – don’t.
Facebook™ are very openly recommending an uplift of 40% in ad spend just to stay relevant to shoppers. With those odds, unless you have a HUGE (and loyal) audience who already have proven Black Friday shopping habits then don’t waste money in starting today. (Again, sorry – no get rich quick schemes here).
So if you genuinely haven't planned ad spend uplift or have a full strategy in place then it will be hugely more beneficial and cost effective to mine your database for income uplift right now and put your eggs in the e-mail automation basket until 1st December:
- Segment your database into personalised offers based on buying history
- Communicate ‘Best Offer this Year’ messages – making it clear no better discounts will be found
- Include video messages from your CEO/ Stylists/ Warehousing teams thanking your customer for their valued business in this tough year – remind them they mean something to your family. (Include on all your confirmation e-mails until xmas too)
- Automate all the above. (Or we can do it for you 😉)
Here’s to a successful end to the year and a bright start to 2021 – any questions – as always drop me a line on FB or book in a call below….
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