Black Friday strategies

Hello,

Happy Humpday!

Here in New Zealand, Daylight Saving is about to begin and I’m reminded once again how quickly this year is hurtling by. Before long, we’ll be in the thick of the silly season but before we start rolling out the Christmas decorations, there’s one key trading moment that takes the world of ecommerce by storm year after year… That’s right, Black Friday is on the way.

Here’s what I’ve got for you today:

Concept
🛍️ How to maximise profit over the Black Friday period

Tech of the week
🛒 Klaviyo Black Friday Hub

Resources
🤓 Material I’ve enjoyed lately

🛍️ CONCEPT

How to maximise profit over the Black Friday period

Over the last decade, Black Friday and Cyber Monday sales have absolutely exploded. What started as a post-Thanksgiving strategy to shift stock is now a key global trading moment. Brands worldwide offer hefty discounts for a slice of the pie and the sales period gets longer every year. But as I watch businesses decimate their price points, I can’t help but wonder about their profitability.

I’ve talked about the psychology of discounting before—do it too often and your customers will come to expect it. Discounting can also devalue your products in the eyes of the consumer (there’s a reason Apple never does it). So how can you make the most of Black Friday, without resorting to the discounts of doom?

Here are a few ideas:

GWP strategies
Get customers over the line with an added incentive rather than reducing the prices of your products.

• Free gift with purchases over $X

• Free gift with purchases of selected products

• Make it a gift with free wrapping or a free greeting card

• Free samples with every purchase

• Donate to a good cause with every customer’s order

• Randomly selected GWP recipients (offer bigger items but less of them)

Upsell strategies
Increase AOV (average order value) with compelling add-ons.

• Limited-time bundle offers

• A different cart upsell each day

Loyalty strategies
Use the occasion to grow your loyalty members by offering exclusive deals.

• Double points throughout the Black Friday period

• Access to secret products for loyalty members or members of a certain tier

• Grant loyalty members early access to offers or new products

• Free shipping for all loyalty members

As part of our Roadmap app development, I’ve been working on a document with over 50 campaign ideas using the suite of features. If you’d like access to it, apply below.

🛒 TECH OF THE WEEK

Klaviyo Black Friday Hub

When it comes to email and SMS marketing platforms, it’s hard to find one better for ecommerce than Klaviyo. Those of you who are on the platform will be familiar with the seamless Shopify integrations and comprehensive analytics. They also have excellent resources and training sessions.

With Black Friday just around the corner, Klaviyo has created an entire Black Friday / Cyber Monday hub of strategies and tools. Along with customer segmentation strategies, they’ve built a calendar of action points to make the most of this key trading moment.

Not yet using Klaviyo? Create an account or request a walkthrough below.

🤓 RESOURCES

Material I’ve enjoyed lately

📗 Read

Black Friday 2024: New Trends and Changing Consumer Behaviours

This LinkedIn post by Irish promotion agency, Benamic had some great insights about new customer shopping trends and opportunities for the upcoming BFCM period.

🎧 Listen

Moderat

This group is frequently on rotation for me personally, but we’ve been listening to them a bit in the studio lately. If you’re into electronic music, you might enjoy them too. I’ve been a fan since the early Apparat and Modeselektor days, and even got to create an interactive web app for the band back into 2010.

On that note, I’m off to listen to some Moderat. If you’d like to discuss Black Friday strategies, the Roadmap suite or Klaviyo set-up and support, reply to this email and let’s discuss how we can help.

That’s all from me this week.

Thanks for reading!

Until next time.

Alex Murton
Managing Director & Co-Founder
Studio Almond