A Store Owner’s Playbook For Surviving And Thriving During BFCM

Karan Sharma is a digital commerce expert and the co-founder at Kinex Media Inc, a creative digital agency in Toronto.

Now that Black Friday and Cyber Monday (BFCM) have wrapped up, if your sales didn’t quite meet expectations, there’s no need to be discouraged. There’s always next year to take things to the next level. As the biggest shopping event of the year, BFCM offers online retailers a valuable opportunity for growth. In fact, a remarkable $38 billion was spent online during Cyber Week 2023, representing a 7.8% rise from the previous year.

As the e-commerce market continues to grow, the window for success during BFCM is wider than ever before. However, capturing that opportunity requires careful planning and smart marketing. This guide is here to help you reflect on this year’s results and start building a strategy that will ensure your online store is poised for even greater success in the next BFCM season.

With the right tactics and a deeper understanding of consumer behavior, you can lay the foundation for long-term success in a competitive online marketplace.

The Importance Of BFCM To E-Commerce Store Owners

There are a myriad of reasons BFCM is so important for online store owners, including:

Surge In Online Traffic

BFCM is associated with intensified levels of online traffic because many shoppers are searching for deals. A 2024 report from Deloitte found that “BFCM spending has accelerated since 2021, and all demographics and income levels plan to spend more,” and that in 2024 “BFCM continues to reign: 80% of those surveyed plan to shop during BFCM.”

Brand Awareness

BFCM may be an appropriate time to improve brand awareness. Great marketing campaigns and providing good customer experience can attract and retain new customers, resulting in increased brand awareness.

BFCM Best Practices For Soaring E-Commerce Sales

As you think about your strategy for next season’s BFCM, consider my top best practices for success:

Plan In Advance

Don’t come up with your strategy for BFCM at the last minute. Start making plans a few months in advance so that everything gets in place and you’re all set to go. Based on my experience and interactions with digital marketing experts who conduct research and surveys within the industry, larger retailers usually start planning the BFCM sales strategy during early summer.

Create a comprehensive timeline with certain tasks and milestones, such as developing a marketing plan, designing promotional materials and optimizing your website for BFCM campaigns.

Create A Compelling Offer

Create a deal or offer promotion for your store that’s attractive enough to bring buyers to your store. It can be a discount, free shipping or a bundled deal. Try experimenting with different deal types and promotions to see what resonates best with your target audience. Consider offering exclusive deals to your email subscribers or social media followers.

Optimize Your Website

Your website must be optimized for BFCM, which means it should be fast, easy to navigate and mobile-friendly. Product pages also need to be clear and informative. Some renowned retailers like MAC Cosmetics and Coco Village design landing pages that are easy to browse with good category and filtering options, making their shopping experience well-suited for BFCM.

The general notion commonly shared among experts is that users will typically leave a website if it doesn’t load within a few seconds. To optimize your website for BFCM, you need to identify your website’s areas of improvement using tools such as Google PageSpeed Insights. Consider hiring a web developer to optimize your website for BFCM.

Build Anticipation

In the weeks leading up to the event, run marketing campaigns to create anticipation for BFCM. This might include social media posts, email marketing and paid advertising. For example, retailers such as Bath & Body Works, Nintendo, GoPro and more often use social media to tease upcoming BFCM deals and build enthusiasm for their customers.

Craft a social media calendar for the weeks leading up to BFCM. Experiment with different types of content, such as behind-the-scenes videos, customer testimonials and product giveaways.

Provide Excellent Customer Service

Make sure your customer service team is prepared for the increased volume of orders during BFCM. Offer fast and efficient shipping and returns, and be responsive to customer inquiries. According to research by PwC, nearly 80% of Americans say that friendly service and knowledgeable help, alongside speed and convenience, are the most important elements of a positive customer experience.

To ensure 100% customer satisfaction, train your customer service team on how to handle common BFCM inquiries and issues around shipping, returns and inquiries. Consider outsourcing your customer service to a third-party provider if you anticipate a high volume of inquiries.

Monitor Your Performance

Keep a close eye on your sales and website traffic during BFCM to help you identify any areas where you can improve your strategy. For instance, using tools like Google Analytics, online store owners can track their website traffic, conversion rates and other key performance indicators during BFCM.

Set specific goals for your BFCM performance, such as increasing sales by a certain percentage or acquiring a certain number of new customers. Use analytics tools to track your progress and make adjustments as needed.

Learn From Your Experience

Spend some time introspecting into the performance after BFCM. Note what went right and what didn’t, and then revise your strategy for the next year. You can conduct a post-BFCM analysis to identify your strengths and weaknesses. Use this information to inform your planning for next year’s BFCM.

Conclusion

The BFCM season enables online stores to attract new customers and develop greater brand awareness. Remember, BFCM is not short-term gain alone but a strategic opportunity to build relationships with customers and put your brand in the best position for long-term prosperity. Following up on the best practices outlined here and adapting to the ever-evolving e-commerce landscape could be the catalyst for your online store’s growth.

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