So @Moizali & I spent one hour discussing the best black friday strategies.
We're responsible for $100M+ in online revenue, so we're not f*****g around.
Here are 5 strategies to cash out $1M+ during BFCM weekend 🧵
Black Friday Cyber Monday (BFCM) is a game of Merchandising & Attention
Merchandising is how you:
• Select & display products
• Price them
• Position the messaging
Attention is a competition on who communicates the BEST offers through copy, ads, LPs, emails, etc.
In this playbook, we'll cover
1. Creating bundles the right way
2. FOMO offers 101
3. What to do from NOW until Black Friday
4. Things to focus on during the BFCM weekend
5. Conversion hacks you don't want to miss
1. Bundle your product.
Creating a bundle is all about creating a win-win for you and your customers.
Bundles allow you to combine high-value SKUs with products that don't typically sell.
For example, if you're a flavored water brand and your bundle has 8 items
- 5 items should be high-demand high-selling flavors, so they cover the value of the whole pack
- 3 can be flavors that don't sell so well
The customer gets the value & your stock gets moving.
Bundle pricing should be based on AOVs (average order value)
If your normal AOV is $50, your bundle should be 3x.
And if the bundle costs $150, have items worth $250 in there so you can give a 40% discount.
People love it when you give discounts on discounts.
Pro tip: Brand your bundle in a memorable way.
i. Make up your unique name
ii. Focus on benefits, not features
iii. A name that appeals to your customer demographics
iv. Think about how your product makes the customers feel
2. Create FOMO offers.
FOMO is real & it drives people to take action.
You want to use it in your Black Friday Cyber Monday offers.
And then communicate it smartly in your copy, ads, and LPs.
Make it the best offer of the year
If your Black Friday offer is the best discount you give in the year, say it in your copy.
Something that communicates - "Get our best discount of this year, right now!"
Price-sensitive customers will love it.
Example 👇
Create scarcity by limiting numbers
Say, "Only the first 500 customers get this offer."
It's an easy way to drive conversion.
Create a "loyal customers" offer.
Go to your Shopify dashboard & collect emails of the top 15% of customers from last year.
Send an email on Sunday —"You're getting our Black Friday offer a week earlier because you're our VIP customer."
Make them feel special.
Example 👇
3. What to do from NOW until BFCM
You have 10 weeks or so till Black Friday.
Until then, capture and keep the attention of your audience.
And do business as usual.
Don't mention Black Friday until the 1st of November but keep warming up your funnel
- Run paid ads to capture new attention
- Keep sending emails, SMSs, and ads at least once a week
- Push one piece of content per social channel every day
Create a separate landing page for BFCM
This LP should answer 4 questions
i. What is being sold
ii. Why is this gonna benefit me
iii. What gives this brand credibility to sell me this offer
iv. How soon do I get it if I order today (shipping time)
A week or two weeks before BFCM
Start sending emails and SMSs mentioning the upcoming offers/discounts.
Keep posting 2-3x/day on socials.
The idea is to create anticipation about the upcoming deals.
4. What to do during BFCM weekend
The BFCM weekend is going to be a bloodbath.
A person will, on average, receive 18 promotional emails per day!
So you have to figure out a way to cut through the noise.
What you need to do during BFCM
- Get noticed (frequency)
- Have them clickthrough (subject lines)
- Create excitement for your offers (anticipation)
You get noticed by sending emails, SMSs, etc
On the BFCM weekend days, send 4 emails/day
12:01 AM - "Black Friday is here"
8:00 AM - "Email from the CEO "
3:00 PM - "Update: We're running out of stock"
11:11 PM - "Last chance"
Clickthrough is about creating the best offer and communicating it the right way (we covered this earlier in #1 and #2)
And anticipation will already be there if you've managed to do the pre-BFCM week content right.
Segment your offers by the day
If you have multiple SKUs, offer discounts on each of them on different days of BFCM.
So one goes on discount on Black Friday
One on Sat
One on Sun
And another on Cyber Monday
This way you have a new offer for EACH DAY of the BFCM weekend.
Look at BFCM as a way of clearing your funnel.
You've got people in the awareness and consideration.
BFCM is the best opportunity to push them through the funnel by creating offers so good they can't ignore!
(Took this from @SeanEcom - thanks bud)
After Cyber Monday, go for extended Tuesdays.
Those who missed out on BF or CM will buy on Tuesday.
"Last chance - 5618 shoppers have already availed this offer!"
A good way to keep sales going.
5. Conversion hacks most brands look over
- Many people will skip paying just because they don't wanna go back and remember to copy the coupon code. So during BCFM, apply coupons automatically on the checkout pages.
- If you're giving away free gifts, auto-add to the cart.
- When creating coupon codes, keep *alcoholic* Jerry in mind.
Your coupon code should be such that even drunk Jerry can remember it
Christmas25 ❌
Turkey20 ✅
BlackFriday30❌
BF30 ✅
Independence30❌
USA30 ✅
Also, make your discounts easy to remember.
For example, if you have a 32% discount, make it 30%.
32% is so hard to comprehend, while 30% will be top of mind.
Everyone loves rounding off numbers. So just do it for them.
Make your site's loading speed such that even a dude using an old Android in some remote country (with 3G internet) can load your site in under seconds.
To celebrate 27 years as an e-commerce guru and all around internet hater, I've written a thread to educate the ignorant on the basics of online retail.
Here's my comprehensive list of 27 reasons your e-commerce website is a f*cking disappointment 🧵
1. Slow loading speed
I've been served an ad. I click on that ad. I'm excited to learn more about this product that hypothetically solves my "problem."
If your page takes more than .5 seconds to load, I'm bailing on the entire thing and never interacting with your brand again.
2. Poor website design
It's 2023. If an AI bot can shit out a basic interface using nothing but 2-sentence description, you have no excuse for poor web design.
Last week in Los Angeles, I had 1 lunch and 2 dinners with CEOs of fast-growing consumer brands.
They'll do $275M, $10M, and $30M in revenue, conservatively, this year.
These were my takeaways:
You have to have a killer product.
Having a good commodity product doesn't work UNESS you're Mr. Beast or Emma Chamberlain.
To win today, you need:
・ a high-quality product
・ a problem to solve that's widely understood
・ a good understanding of WHY someone is buying YOU
You need to understand your numbers.
Every single CEO knew their:
・ revenue
・ conversion rates
・ CPA by channel
・ how much they're spending on agencies
・ what their margin is
・ what their best promotions are
・ how much working capital they have
・ customer payback window