Black Friday 2021 is around the corner. With studies from last year showing online transactions jumped by 60% in 2020 compared to 2019, the stage is set for an even bigger online turnout this year. Get some insider tips from Payflex on how you can prepare your online business for retail’s biggest day.
Tips for Making Black Friday 2021 Your Best Yet
Plan your discounts carefully
Start by identifying exactly which items of stock you plan to apply Black Friday discounts. Take your time doing this, as your choice of stock can directly impact the amount of interest generated by your customers. We recommend using historical data to help you with this.
Take a look at your best and worst sellers over the last several months. Apply a moderate discount to your top sellers, as you know they’re bound to be a hit with your customers and a much higher discount to your slowest movers to encourage shoppers to buy them. Just make sure you’re still earning enough to cover shipping and earn some profit.
Make it personal
Offering discounts on items isn’t enough to go shoulder-to-shoulder with other retailers on Black Friday. If you’re serious about standing out from the competition you need to take it a step further and personalize your Black Friday offers. Analyze and segment your audience based on data from their previous purchases to tailor the offers you send to each client, increasing their purchase likelihood.
Get the word out ASAP
You can start creating customer buzz by sharing your deals as early as possible. Get your customers talking and they’ll start sharing your deals too, increasing your customer reach. Social media is your best ally here.
According to research from Hubspot, social media provides the highest ROI in comparison with other marketing channels so get on all the social platforms you can to get the word out. Remember, your customers are going to be seeing a lot of Black Friday marketing leading up to the day, so make sure it’s yours that they remember.
Don’t wait for the day
Black Friday is over in a matter of hours, but that doesn’t mean shoppers are ready to halt their retail trailblazing. Why wait for the day when you could maximize sales and start offering deals a week or even two weeks in advance!
Some retailers have even begun to offer “Black November” where they routinely drop deals and discounts throughout November. This can also be a great way to reward your existing customers through early-bird discounts and subscriber-only sneak peek offers that drop a week or several days before Black Friday officially kicks off.
Give your customers even more reason to shop
You want to capitalize on the Black Friday hype as much as possible, so don’t stop at discounting your items. Offering additional incentives like free shipping, store points and rewards on cards can help to sweeten your deals and give that last push of encouragement to your customers.
Make sure your website is ready for Black Friday 2021 traffic
The last thing you want to deal with is your website crashing from too much site traffic. You’ll lose sales and customers will simply click elsewhere to do their shopping. Make sure this doesn’t happen by getting your website prepped and ready for the Black Friday boom in traffic by asking your website hosting provider to perform a load test and check your site’s speed to ensure it’s optimal.
Simplify your checkout so shoppers don’t check out
You don’t want your customers to assemble an impressive shopping cart, only to trip at the finish line thanks to a complicated checkout process. Your aim is to make your customers’ shopping experience as seamless as possible from start to finish, so remove any unnecessary barriers or obstacles in the way to ensure they don’t make a beeline for your competitors.
Allow customers to check out without having to sign in or register for anything and offer multiple payment methods so they can select their preferred one. For example, Payflex’s “Buy Now, Pay Later” option allows customers to instantly check out and pay the amount over 6 weeks completely interest-free.