It’s that time of year again! The holidays are right around the corner, which means e-commerce businesses should be gearing up for one of their biggest online shopping days of the year: Cyber Monday. If you’re wondering whether or not you should focus on marketing for Cyber Monday, take a look at how last year’s Cyber Monday performed, the predictions for this year, and tips on creating Cyber Monday marketing strategies that will boost your profits!
Cyber Monday Statistics & Predictions
How Cyber Monday Performed in 2017
Over the past few years, Cyber Monday has become one of the largest sources of revenue for businesses. Here are a few of the statistics that were generated based on last year’s data:
- Online transactions reached a staggering $6.59 billion, a 16.8% increase from 2016.
- Mobile sales reached $2 billion in 24 hours.
- Cyber Monday 2017 topped the charts and was proclaimed the largest U.S. online shopping day ever.
- Millennials spent an average of $419.52 per person, which is 25% more than average customers in other demographic groups.
Predictions for Cyber Monday 2018
Now that you have seen how successful last year’s Cyber Monday truly was, it’s time to look at the possibilities for this year! Marketing experts in the field have predicted the following based on data and trends from previous Cyber Mondays:
- Businesses will be providing a wealth of exclusive promo codes for site-wide discounts and free shipping on their products.
- Product sales will be announced right before the holiday or incrementally throughout the day on Cyber Monday, helping to provoke the sense of urgency from customers.
- Cyber Monday will generate more revenue than its in-store competitor holiday, Black Friday.
- Some online e-commerce businesses may begin their Cyber Monday sales on Saturday or Sunday to help increase sales under the guise of “Cyber Weekend” or “Cyber Sunday.”
- Voice-driven shopping with digital home assistants like the Amazon Alexa or Google Home will make a presence this year, though it will be a small sliver of online shopping.
Cyber Monday Marketing Strategies
So, are you ready to get going on your Cyber Monday marketing strategy? We’ve compiled a full list of ideas to help you make the most of the e-commerce holiday.
Step Up Your Social Game
Consumers will be bombarded with deals around the holiday, so it’s important to stay on top of your social posting to make sure your target audience doesn’t miss out or forget about your sales. Here are a few ways you can engage with your consumers:
- Offer a Giveaway — Who doesn’t love free products or gift cards? Entice your users and reward them for posting about your brand or products or using a specific hashtag associated with your Cyber Monday campaign.
- Collaborate with Other Businesses & Organizations — Extend your business’s reach while supporting other local, small businesses and organizations by working together to promote one another. Not only does this help to establish a sense of community, but you may also be able to pull in an audience that wouldn’t have heard about your brand otherwise.
- Use Influencer Marketing — Putting a face to your social media channels can drive engagement, foster authenticity, and broaden your network. Have a micro-influencer takeover your account for a day or throughout your campaign to showcase your new products or items that are currently on sale.
Check out a few examples of how businesses can use social to garner engagement during Cyber Monday:
Enhance Your Cyber Monday Email Marketing
Email marketing sees some of the greatest conversion rates for Cyber Monday deals. In fact, 24% of traffic directed to e-commerce sites on Cyber Monday in 2017 came from marketing emails. Here are a few tactics you could try:
- Provide Exclusive Deals to Current Customers — Reward your current customer base for being loyal to your brand! Send them promotions or coupon codes before your Cyber Monday sales begin to instill a sense of excitement.
- Target Your Highest-Converting Audience — Take some time to look into your website’s analytics. To gain the most conversions to your site with your Cyber Monday email marketing strategy, cater your messages to them.
- Create a Gift Guide — Give your email subscribers the inside scoop by letting them know about some of the deals you’ll be offering during the sale. Show them how some of your products would make great gifts.
- Set Up Exclusive, Email-Only Deals — Provide your subscribers a real, VIP treatment by offering them coupons and promo codes that only email subscribers will receive.
Offer More Than Free Shipping
Since a majority of online retailers offer free shipping, you’ll want to set your business apart by providing your customers with something more. You can still entice new customers with free shipping, but you can also one-up your competition by offering a bonus gift with orders or letting customers know that you’ll be donating a portion of your Cyber Monday sales to charity.
If your business isn’t able to offer more than free shipping, it’s important to guarantee your shipment and delivery times. Reassure your customers that their order will be delivered in a timely manner and that they’ll receive it well before Christmas. This is especially vital for customers who are solely shopping on Cyber Monday for gifts for their loved ones.
Extend Your Cyber Sales
One other Cyber Monday marketing strategy is to extend your sales an entire week. This gives your customers more time to shop your online store and find all of the items they want. You can incorporate flash sales to motivate buyers to make purchasing decisions throughout the entire week, helping to promote even more sales.