How to stand out in the madness of Black Friday

The busiest shopping day of the year is just around the corner, waiting for endless queues of customers to take place.

The friday after Thanksgiving, so-called Black Friday, is one of the biggest shopping days of the year and is very important for online retailers, sellers and brands, anyone you can think of that is somehow related to e-commerce. It is a day when great discounts and campaigns are made for customers to buy the products they want or need at more affordable prices where commercial activities and sales take place whether online or in-store.

Retailers and well-known brands typically offer considerable discounts on a wide range of goods on Black Friday and these discounts can be as much as?80% off.?Within these discounts, online retailers and suppliers are offered a chance to?increase their sales and revenue as well as to attract new customers.

Around the Black Friday weekend, there is a genuine purpose to buy among consumers, which leads to additional profits. Since far more individuals than usual are eager to make online purchases, retailers have a huge digital opportunity now.?More than 80%?of consumers plan to shop on Black Friday. Last year, customers in the U.S?spent $8.9 billion online, and?this year 60% of internet shoppers anticipate spending even more.

Many businesses even seem to be starting their holiday deals earlier due to the challenges in terms of product shortages, shipping delays, and increased customer demands during this week. For many businesses, this holiday time creates a great opportunity to gain customers, increase sales and brand awareness. We can understand the spending capacity of customers from Black Friday season by looking at the study of NFR which reveals that?spending of U.S. shoppers exceeded $789 billion in the previous years.?And the situation is not different in Europe, the?e-commerce activities in Europe increases by 86% during Black Friday. Since the vast majority of consumers today prefer buying online rather than going to physical stores, Black Friday will see an increase in online traffic as well and offer significant possibilities for profit for all sizes of e-commerce companies. In terms of share of sales on this day, the biggest retailers are Amazon (24.2%), Best Buy (7.0%), Walmart (4.6%) , Macy’s (2.9%) and Kohl’s (2.1%).

“Black Friday season enables businesses to increase brand recognition and income while also allowing customers to save money and find great deals before Christmas or to treat themselves.”

Online suppliers are the most profiting ones

By having a good advertising strategy, suppliers can significantly increase their revenue and create a good impression on their future customers. At this point, it is necessary to analyze what customers want, make the right deals, and come up with ads that will grab their attention. Most likely, trying to capture their attention will be one of the biggest challenges to face, not to mention the mind-blowing competition in the market. The best thing you can do to stay ahead of the competition in the market and the products of other brands is to catch the attention of customers by creating ad campaigns using?Sponsored Product ads, highlighting products via effective ad campaigns and?displaying your products at the top of the digital shelf.

**You can read more on “Sponsored Products” here:?https://medium.com/gowit/the-ultimate-guide-sponsored-products-70a6d3316928

As we mentioned above, the main reason why we think that attracting customers’ attention will be a big challenge is because of the fact that their attention span only lasts a few seconds nowadays. That’s the reason why the message you share when you run a promotion on your online business should be both clear and engaging. For instance, banner advertising can be used to present your products to customers and get them acquainted with your brand. And since all visuals of the brand or items for sale are presented on the ad in an explicit way, you can undoubtedly attain this clarity and product marketing using these advertising.

Targeted Ads On

It is necessary to make sure that the right ad is shown to the right person. Because although the span of attention has narrowed, when we see a product that we are interested in, our tendency to buy it will be much higher.?Exactly for this reason, if you’re trying to run successful ad campaigns, they must be?optimized for your target audience.?Because consumers have too many options, it’s crucial to use numerous, precisely targeted advertisements to reach the correct audiences at the appropriate times with the most crucial messages. Suppliers must make sure that clients are brought to their online store or the retailer’s website where they can select or purchase the products they are looking for.

Competition on Black Friday

On the day of Black Friday the competition heats up even more and it’s difficult for consumers to make sure they can purchase their desired items before they run out, shop around various stores, compare products, and complete their shopping lists. On the other hand, the chance to stand out and make their products and brand memorable on Black Friday is a difficult task for all online suppliers and retailers.

“On Black Friday, online visits in the retail part increased by 70.39%.”

Black Friday is a fantastic e-commerce occasion, and surely an ideal chance to attract new clients. You can connect with people who could be interested in your items using social media ads too. It is claimed that when consumers see positive reviews of a product on social media, they are 71% more prone to buying it, and it makes total sense. By running advertisements across a variety of media platforms, you can stand out from the competition in terms of visibility and brand recognition while also bringing in new clients.

Use different networks to reach a wider audience on Black Friday and take advantage of Sponsored Ads in order to market your goods effectively to your target audience and increase sales.

Customer Acquisition and Remarketing

At a crucial time of year, Black Friday gives retailers a chance to attract new clients. If you attract clients around Black Friday and keep them satisfied, you have a chance to use an effective advertising strategy to drive repeat business during the Christmas season and beyond too. We must keep in mind how challenging it is to?keep current clients as well as gaining new ones.?Due to the growing amount of online distractions, many buyers have given up trying to buy a product, which ultimately results in lost sales. It is reported that e-commerce businesses might lose?$18 billion in annual sales due to cart abandonment.?In order to build an effective advertising strategy in the most lucrative e-commerce occasion of the year, it is therefore necessary to investigate what prompts people to stop purchasing in the middle of their transactions, and at this point,?Display Ads?might be the ones you need to take the lead.

The good thing is that the cart abandonment rate decreased sharply from an average of 81.66% (the previous week) to 77.74% on Black Friday. When implementing a cart abandonment strategy, one of the best ways to reduce the abandonment rate is using remarketing ads, Display Ads. These will act as a product reminder for customers to complete their transactions in case they’ve forgotten about their cart while browsing different sites. In addition to Display Ads, if you want to present additional products that are similar or relevant to the products customers are looking for in this crazy shopping period, cross sell advertisements will serve just for the purpose.

“On Black Friday, over 47% of people will shop for things they wanted for a while.”

To conclude this article and to succeed on Black Friday we shall emphasize in our final words that your store must be well-prepared for this crazy season. And, it is essential to?design targeted ads that encourage online users to check your products. In order to avoid missing the year’s biggest e-commerce event, you should already plan out your marketing and advertising activities. Lastly, to improve your performance in the next year, always examine the results of your ad campaigns to determine what worked and what didn’t and track your overall performances for the next season.

References:

Best Practices That Will Drive Higher Conversions. (n.d.).?Www.drip.com.?https://www.drip.com/blog/popup-design-best-practices

Black Friday & Cyber Monday Sales in Europe. (n.d.).?Www.parcelmonitor.com.?Retrieved November 24, 2022, from?https://www.parcelmonitor.com/insights/eu-black-friday-2020

Black Friday 2022 Ultimate Ecommerce Strategy — SaleCycle. (2022, October 12).?https://www.salecycle.com/blog/strategies/black-friday-ultimate-ecommerce-guide/

Cart Abandonment Statistics You Must Know in 2022. (n.d.).?Www.drip.com.?https://www.drip.com/blog/cart-abandonment-statistics

External Traffic Channels To Your Listing In 2022. (2022, June 2). Margin Business Ltd.?https://marginbusiness.com/amazon-external-traffic-channels/

Korchevskyi, N. (2022, October 24).?Black Friday Marketing Strategies for 2022. Claspo.io; Claspo.?https://claspo.io/blog/11-proven-black-friday-marketing-strategies-for-2022/

Tips for Getting the Most Out of Black Friday. (n.d.). The Balance. Retrieved November 24, 2022, from?https://www.thebalancemoney.com/getting-black-friday-deals-951870