April 8, 2020
Black Friday Cyber Monday Recap

Black Friday Cyber Monday Recap


Hi, this is Linda Bustos from Get Elastic
and I’m just hopping on real quick to chat about the Cyber Week that just
happened including the Black Friday Cyber Monday weekend. I recently put
together an infographic with some of what I felt was the most insightful
takeaways of what happened during this period and you can check that out on Get
Elastic but I also wanted to talk about what I believe every online retailer and
email marketer needs to know about what happened this year and how to apply that
to next year. So first I want to talk about discounts and promotions and this
is kind of where everybody gets nervous because that means giving up
margin and promotions can get quite aggressive during the holiday season.
What we saw this year was that yes starting on Cyber Week
kicking off Monday, November 25th the average discount was already 23% and it
rose steadily up to about 30% by Black Friday but this is just showing that if
you want to stay competitive you are going to have to have Cyber Week deals
kick off your Black Friday / Cyber Monday a little bit earlier. Yes next year
you’re going to get an extra three shopping days in the season, but that’s
the official kickoff for getting people in, into finding your deals and get a
little bit of a head start. The bright spot with that is that actual discounts
were remaining flat over last year so 30% on average is actually as
low as it’s looking like it’s going to go — so never fear if 30% makes
everybody nervous in your organization you can’t you can still remain
competitive with 20% offer but you have to keep in mind that we have a real
spoiled pool of online shoppers these days, there was actually a survey that
went out and 47% of holiday shoppers were saying they’re only gonna buy stuff
that was discounted — nobody’s gonna buy full price out of those 47% — but 100% were saying that discounts and deals were the number one
shopping criteria for their holiday shopping. So gone are the days where it’s
Black Friday and everything jumps back to a full price to really get
retailers back into the black — Black Friday is kind of like a new, red
bleeding situation because you’re just going to have to keep discounts going.
But Cyber Monday is really successful yes it started as an NRF invention —
a concoction for online retailers to say “this is our shopping day”
that’s when people return back to online shopping and back to their desks on Cyber Monday, and yes we saw Cyber Monday rise again this year but
something very interesting is that 30% of revenue came in during 10pm to
2am — so what we’re seeing is there is a segment of night owls that are big
spending at night, so you have to think about how can you identify who those
segments of people are during the year or closer to, and can you segment them
out to be in their own little group in your email or your text messaging
promotions, can you identify them and market to them later? Should you just
send everybody more promotions later into the evening,
should you have ramping-up deals that carry over, should you look into your
e-commerce platform and see “can we hold over a Cyber Monday deal into the
wee hours of the morning?” “Can we geotarget and understand if
somebody is coming from the East Coast or the West Coast or from Europe? And
what time zone they’re in and how to make sure the promo codes are still
working and that kind of thing. Those things you need to start planning very
early in 2020 to make sure that you can line up and execute. So that was
something that was really interesting that they came out through
the data this year. So the next thing that you should start preparing January
1st is get really aggressive with building your SMS marketing list. Black Friday this year, SMS retail messages went up 148% 148%!
That means it is definitely trending and it’s something that — I spend a lot of
time looking at online retail sites, I probably visit 200 to 500 every quarter —
and one thing that I consistently see is that email opt-ins neglect to have the
SMS option in over 90% of cases so definitely if you’re a retailer be
more mindful about how to build that SMS list because it’s a it’s a very good
opportunity to enhance your marketing for every
promotion that you do, but especially around the holidays because there is
such a surge of email activity and email promotions that go out that SMS is still
one way that you can push yourself to the front of the line so-to-speak (or to
the front of the screen) and Gartner says that the open rates are up to 98% for
SMS whereas email is only around 20% or so 68% of consumers are saying
that they do pay more attention to their inboxes and to holiday email —
that’s where they look and start their journeys for deals — especially the ones
that say that they are only going to buy stuff on sale. So definitely start
ramping up your SMS list and also look into Facebook Messenger marketing
because you can also do some cool stuff with cart recovery and
remarketing just from visits and abandons that you can’t really do when
you’re not using Facebook Messenger remarketing. And the third really cool
thing that happened this year was they were tracking the uptick in orders for
states that were hit by that big Nor’Easter storms, so any state that
was receiving two inches or more of snow which isn’t that much — saw
Black Friday orders going up 7% so people staying home, not hitting the
mall just surfing and clicking and buying from the comfort of their own
homes, there’s an opportunity to get your SMS marketing and your email marketing, do some segmentation and do what I like to call Responsive Marketing. So that is
where you’ll actually have some copy and some campaigns set aside, they’re not pre-scheduled and you wait and you wait and respond in real time to conditions such
as weather — you could have some special flash sale or special messaging
that’s really tailored to and and get creative with the emojis and different
calls to action and feel the people’s pain in the way that you’re using
your subject lines and your copy and your offers. And that’s something
that you can line up for next year because definitely you know bad
weather is always going to be with us and we can expect that next year. So that’s a tactic that you can use. So if you enjoyed these tips I actually shared
a few more with the Smart Insights blog, link in the description, and also
link to the original infographic that we put up, and yeah I hope you have a
great rest of the holiday season whether you’re a merchant or you’re just a
shopper, I hope you really enjoy it and I look forward to reconnecting with you in
the new year. Take care. Check us out on our socials!

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