Cyber Monday may be a fairly new retail tradition, but this shopping event has quickly gained popularity since 2005 when the head of the National Retail Federation originally coined the term.
What is Cyber Monday? Put simply, it’s eCommerce’s answer to Black Friday.
As soon as the sun sets on the beloved American holiday, Thanksgiving, brick-and-mortar retail stores across the nation open their doors to consumers, inviting them into the biggest sale of the year known as Black Friday.
Shoppers spill through entryways, tripping over one another to snatch deeply discounted items off retail shelves. The frenzy is due in large part to the Christmas season that’s right around the corner. If a consumer plays their cards right, they can accomplish all of their Christmas shopping in a single evening thanks to Black Friday deals.
In the early 2000s, however, the burgeoning eCommerce market knew it was missing out, but instead of launching Black Friday deals of its own, the entire industry claimed the Monday following Thanksgiving for itself, known as Cyber Monday. For 24 hours, consumers could receive even better discounts while shopping online from the comfort of their own homes.
As of last year, Cyber Monday pulled in a whopping $10.8-billion in online retail sales, which represents an increase of 15.1% growth from the prior year of 2019.
Today, the upcoming Cyber Monday sales are expected to generate a seismic $11.5-billion in sales.
If you want a piece of the revenue pie, use the following tips to drive your Cyber Monday sales:
● Offer Product Bundles
● Advertise on Facebook
● Create an Amazon Seller Site
When it comes to holiday shopping and purchasing gifts, consumers love product bundles. Product bundling is a sales technique that groups several complimentary items together to be sold as a single unit for one price. Packaging the bundled products so that they appear artfully arranged is important.
By offering your online shoppers product bundles, you will naturally increase the average order value, move more products, and decrease your marketing and distribution costs. Just be sure to clearly state the exact savings per bundle so that shoppers know it’s more cost-effective to buy bundled products than those products individually.
Feeling overwhelmed and unsure of where to start in terms of packaging and branding your Cyber Monday product bundles? FTx 360 offers creative services that can handle everything from designing branded packaging to marketing your Cyber Monday product bundles online.
Running a Facebook ad campaign can help you crush your sales goals this Cyber Monday. ECommerce retailers who pour their hearts, souls, and budgets into well-designed Facebook ads that run for a full month before Cyber Monday are sure to see big financial returns, but the competition will be fierce.
Your ad should feature one strong visual image with clear branding and one CTA button, also referred to as a call to action button. This is not the time to use a lead generation CTA. You want your audience to click directly to your eCommerce site so that they can start shopping ASAP. If you have a Facebook Shop, all the better. Link your CTA to your Facebook Shop. This way, consumers can begin checking out your products and adding items to their Wish Lists that they can officially buy on the big day, i.e. Cyber Monday.
Setting up a targeted Facebook ad campaign that not only garners impressions but also maximizes click through rates and conversions is easier said than done. Get the greatest bang for your advertising buck with FTx 360’s social media marketing services. Our marketing specialists can target your audience and launch your Cyber Monday campaign today.
You might be thinking that the last thing you want to do is invest in Amazon when, for the most part, you’re certain that Amazon is your biggest competition. Well, you’re right and you’re also hurting your business. The fact of the matter is that Amazon is the #1 platform that consumers turn to for their online shopping, which means that if you don’t have an Amazon seller site, you’re running a very high risk that consumers will choose to shop with your competition simply because they’re on Amazon and you aren’t.
Creating a Seller Account on Amazon doesn’t have to be a major production. If you’re skeptical, you can actually begin selling from your customer account. However, we recommend making a formal Seller Account. The process is equally, if not less, complicated as creating a Facebook and Instagram Shop, which is to say you can be up-and-selling on Amazon within hours. The best part about using Amazon for your Cyber Monday sales is that Amazon’s platform handles payment processing and shipping parameters. All you have to do is import and organize your product images with descriptions, market your Amazon Cyber Monday deals, and fulfill orders once they start pouring in.
Want expert help navigating the ins and outs of launching an Amazon seller site that seamlessly integrates with your Point-of-Sale system and eCommerce website? Thanks to the nature of our interdepartmental teams, FTx 360 does it all and can amalgamate our eCommerce services and marketing automation services to meet your business needs.
There are so many more lucrative digital marketing tools you can and should include in your Cyber Monday marketing strategy… like:
● Launching Personalized Email Marketing Campaigns
● Minimizing the Number of Clicks to Purchase on Your Website
…but we’re going to wrap this article up for the time being.
Check out 5 Marketing Tips and Ideas for Your eCommerce Site as well as How to Set Up an Instagram and Facebook Shop if you’d like to explore additional marketing tactics you can use right now to boost Cyber Monday sales and your overall revenue throughout the upcoming holiday season, and beyond.