The surprising long-term benefits of a Black Friday sale, and a client case study
Black Friday is coming up on November 27, 2020.
It’s one of the biggest annual shopping events globally, when what feels like every brand under the sun, from local favourites to the huge players fiercely compete for customers’ attention, and more to the point, cash. It’s basically the Hunger Games of shopping events.
So, it’s understandable if you’re still on the fence about participating. Some businesses are reluctant to take part, either because it isn’t financially viable for them to offer discounts, they don’t want to train their customers to wait for sales, or they think it’s a waste of time to try to compete amongst all the noise.
But we’re here as your marketing pals to tell you to think again. There are some surprising long-term advantages to taking part in Black Friday that you probably haven’t thought of yet. Here are three ways that you could actually make it work for your business, beyond one day of frantic discounted shopping!
- Increase your brand awareness
A 2019 study revealed that 71% of surveyed Australians were planning to shop on Black Friday and/or Cyber Monday. That indicates that people are in a shopping mindset on Black Friday, and if you don’t take part, you’re really leaving yourself out of the game completely. People are looking for deals and discounts, and if you can reach the right audience, it’s a great opportunity to increase your brand awareness with people who are literally ready to shop! You don’t even have to offer massive product discounts. You could offer free shipping or a gift with purchase. Anything that might entice new customers to head to your website, check out your products, and get to know your brand.
2. Retain customers for the future
We encourage you to think of Black Friday as an opportunity to attract new customers to the top of your sales funnel, or build your mailing list. Even if they don’t convert on the day, you still have an opportunity to retarget them and turn them into future customers by following up with lead nurturing ads or email sequences. For new customers who do convert, it’s a great chance to introduce them to your rewards program, and show them how your brand offers value year-round, turning them from bargain hunters into loyal customers who will continue to shop with you long after the Black Friday frenzy is over.
Gather data and insights about your audience
The extra traffic at this time of year is amazing for gathering insights about audience demographics and characteristics. You’ll be able to do a deep-dive into your Facebook analytics and discover new audiences or behaviours to inform future campaigns. A boost in traffic might even help you learn something about your website and products. Maybe there’s a snag in your website stopping people from converting? Maybe your product descriptions need some work? Maybe your new Black Friday customers will go crazy for a product that your regular customers don’t? An influx of new customers browsing and buying could be just the thing you need to pull out some useful data that will help you shape your marketing strategy for 2021.
Client case study: Meeka Body
Still not convinced about taking part in Black Friday?
Last year, our skincare client Meeka Body thought Black Friday would be a waste of time. They worried it would be too much of a risk to run ads for what might be very little ROI at an overly saturated point of the year. How wrong they were!
We put together a simple collection of video creatives featuring product photos and text to show the deals that would be available on the day. Then ran it for the four-day shopping weekend (Black Friday – Cyber Monday) to Australian shoppers via a top of funnel audience followed by conversion ads – the simplest short form funnel on earth!
Meeka had a 4X return on ad spend just on that one simple campaign, and brought 422 new customers to the site!
This allowed them to grow their mail list, retarget to those non-purchasers and gain insight into untapped customers they never knew existed.
So, now that we’ve (hopefully) convinced you of the benefits of taking part in Black Friday, stay tuned for our next post about what you need to do to prepare to make the most of the event.