It’s that time of the year again, where online retailers are looking to get a big push in their quarter 4 bottom line. For shoppers, it’s known as Cyber Monday- for online retailers it’s a great day to start off the Christmas season.
In case you have been living under rock or just don’t shop, here is a description of what Cyber Monday is. Cyber Monday is a phrase coined by the company Store.org and every single year it occurs on the Monday following Thanksgiving. This phenomenal buying day is similar to the twin to the well-known as Black Friday that happens the day following Thanksgiving.
Like all twins, there are minor distinctions in between the two. For example, Black Friday is a day that brick and mortar stores are swamped with customers trying to get their hands on every deal possible. Cyber Monday, on the other hand, is entirely Internet-focused.
If you’re an online retailer, you can capitalize off the huge amount of site visitors you will be acquiring by supplying an incentive for this online shopping holiday. Even though Cyber Monday revenues can be great that day you want to get buyers really excited about you and not so excited about your competitors. Use these tips below to create that excitement.
1. Bounce back discounts: Capitalize off the huge amount of traffic you’ll be receiving by offering an incentive for the next purchase. While Cyber Monday sales are great, you really want consistent customers who will order all year long, even when there are no special offers. Try sending out a follow up email with a gift certificate or coupon code to everyone who makes a purchase.
2. Go social: Take your offer as far as it can go by promoting to your followers and by using other creative ways to get the word out. On your emails and landing pages for whatever promotion you run, include a link to a tell a friend form where shoppers can email your offers to friends and family.
3. Learn from your competition: For more ideas, use the Wayback machine to view your competitor’s site last year at the time.
4. Give heavy discounts on your loss leaders: A classic strategy, but it works well online. Most of the time, customers will buy additional full-price merchandise, especially when they realize they have to pay shipping anyway.
5. Offer a deal on CyberMonday.com: If you doing something really noteworthy, you may want to highlight it on CyberMonday.com , a deal site run by Shop.org. Many prominent brands feature promotion there all year round, not just Cyber Monday.
Send 2 reminder emails: Whatever promotion you run, make sure you keep your company top of mind after the Thanksgiving holiday. There will be a lot of marketing emails floating around, so you’ll want to send an initial email right before or after Thanksgiving. Be sure to follow up again with an additional email as the sale starts.
Create Product Bundles: The value of a product bundle can be perceived as greater than the sum of its parts because you are conveniently creating a one stop gift. I hope these ideas can help create a great holiday selling season for you!
Got any other ideas or tips? Leave them in the comment section.