November 17, 2017 Elevate Your Marketing Strategy for Black Friday and Cyber Monday
Our parent company ShortStack.com recently surveyed 9,000 marketers to get a glimpse of what people are doing for their Black Friday and Cyber Monday promotions. The survey brought in some really compelling data.
ShortStack found that brands who promote Black Friday deals recognize the power of “omnichannel” marketing, which is defined as using channels including email campaigns, social media posts, through contests and giveaways, and coupons and discounts to get the word out about their special offers.
Omnichannel marketing is smart. Employing a variety of tactics allows you to communicate to your potential customers regardless of their preferred marketing channel. The customer who ignores your catchy subject line in their email inbox might not be able to resist clicking on your clever ad in their Facebook feed.
What was most compelling to us here at Dealkit, was how many people are using coupons and discounts to complement their Black Friday/Cyber Monday promotions. Coupons and discounts act as great incentives to take further action, whether it be to make a purchase, sign up for your email list, join your loyalty program, or the list goes on.
Coupons and discounts act as great incentives to take further action.
We’ve rounded up some of the best coupon and discount ideas to use for your upcoming Black Friday/Cyber Monday promotions:
Get new customers
Set up a coupon or discount for first-timers. Make sure it’s something juicy like “free shipping” or a hefty discount. Once someone makes a purchase from you, they have a 27 percent chance of making a 2nd purchase and then 54 percent chance of becoming a regular customer. This will help you keep up the momentum past the Black Friday frenzy.
Combine a discount with a contest or giveaway
Our survey revealed that among the most popular promotions was a contest or giveaway with a form to help capture data to be used for future marketing. You can combine a discount or coupon with this idea to help incentivize participation and get you more customer conversions. For everyone who participates in your contest or giveaway, set up an email autoresponder loaded with a coupon code, or downloadable coupon. Use the data you collected from the contest combined with the trackable coupon to hone your future marketing strategies based on these participant’s purchases.
Drive traffic to your social media profiles
Use verbiage like “Visit us on Facebook to take an extra 20% off” or, “Click the link in our Instagram bio for an exclusive discount.” Creating unique coupons and discounts for your marketing channels helps you get more fans and followers – most importantly, targeted fans and followers that are interested in your products.
Keep up your sales momentum with double discounts
Customers who use coupons spend 24 percent more than people who don’t.
Customers who use coupons spend 24 percent more than people who don’t. Keep up that buying momentum with a second, follow-up coupon sent to those customers in an autoresponder email. You could even restrict the coupon’s valid dates to a time in the future to motivate customers to keep coming back past Black Friday.
Offer a “minimum purchase” discount
A sure-fire way to get customers to spend more is to calculate the average purchase amount per customer and set the “minimum purchase” discount just above that. That feeling of “I only need to spend ____ more dollars” gets shoppers to spend more and on every purchase.
Consumer Spending over Black Friday Weekend Is Forecast to Grow by 47% Year over Year.”
As a retailer or a service provider, you can’t afford to miss out on the nearly 700 billion dollars spent during Black Friday weekend!