Brace yourselves as 2023 Black Friday is gearing up to be one for the history books. The CEO and founder of Ridge, a prominent e-commerce site, has just dropped some truth bombs about the state of the economy, and it’s enough to send shockwaves through the world of commerce. Hold tight; we’ll unravel strategies, insights, and tips to navigate this Black Friday storm in the following paragraphs.
Ad performance has taken a nosedive, especially in the unforgiving month of September, which has proven to be worse than its predecessor, August. Gas prices are playing a relentless game of hopscotch, bouncing higher and higher, making consumers tighten their belts and adopt a strategic savings plan. The silver lining? The holiday sale is on the horizon, and people are counting the days until Black Friday 2023.
It’s not just consumers who are feeling the heat; businesses, too, are gearing up for what could be one of the most colossal Black Fridays in history. Marketers across the board echo the sentiment, and the race has begun earlier than ever. Everyone’s pitching in their pennies, preparing for the Black Friday Sale storm.
The CEO of Ridge spilled some Black Friday secrets on navigating the impending sale tsunami. Their company’s genius move involves running a giveaway, enticing people to sign up via text message and email. A brilliant strategy, considering ad costs can skyrocket during 2023 Black Friday, one of the most significant shopping days of the year.
2022 Black Friday Stats
Let’s take a moment to reflect on the Black Friday saga of 2022. US retail sales on Black Friday witnessed a jaw-dropping 12% increase year over year, a trend that shows no signs of slowing down. Consumers, however, weren’t immune to regrets, with 60% admitting to post-Black Friday purchase remorse. Chatbot messages surged by 57%, and Black Friday solidified its place as the biggest in-store shopping day in the US, growing at an impressive 15% annually.
Online sales soared to new heights, reaching a staggering $65.3 billion globally in 2022, marking a 3.5% increase. The numbers don’t lie – spending is on the rise, and Black Friday is the epicenter of the shopping universe.
But here’s the kicker: as the anticipation for Black Friday 2023 intensifies, advertisers are preparing for an all-out war. Campaign costs are poised to skyrocket as more advertisers vie for the coveted spotlight. The battleground is set, and the stakes have never been higher.
2021 Black Friday Stats
Looking back at the 2021 stats, a whopping 180 million people participated in the Black Friday frenzy, with the average American consumer spending $381 and budgeting an average of $574 for those irresistible Black Friday deals. E-commerce retailers saw a jaw-dropping 240% increase in revenue on Black Friday 2021 and a mind-blowing 380% surge on Cyber Monday.
Precision Targeting for 2023 Black Friday Success
Ever wondered how to reach the high spenders, those individuals with a penchant for luxurious shopping sprees? Well, here’s the secret: we’ve curated an exclusive list of Black Friday and Cyber Monday shoppers who not only boast high net worth and home values but also possess a myriad of interests spanning clothing, cosmetics, and jewelry.
But we don’t stop there – armed with their donor history, and essential details like phone numbers, emails, and names, we’ve crafted a goldmine of information. Imagine the possibilities of targeting these potential consumers online! By uploading this custom audience list, you can effortlessly connect with individuals wielding significant spending power, ensuring they make purchasing decisions without a second thought.
The best part? You’ll be spending less to reach these high-value individuals, maximizing your return on investment. It’s a strategic move to focus your efforts where they matter most, especially during the Black Friday frenzy.
With ad costs skyrocketing, the need for a well-thought-out plan is more critical than ever. Here are some 2023 Black Friday marketing strategies that can revolutionize your campaigns.
2023 Black Friday Marketing Strategies
Elevate your 2023 Black Friday game with the following data-driven strategies.
Optimizing your Black Friday strategy? Don’t miss OptiMonster’s insights. Crucial tip: a crash-free website is non-negotiable. Prioritize speed, especially for mobile users—slow loading can lead to abandoned checkouts. Ensure a seamless experience from product pages to checkout, addressing objections and offering guarantees. A well-optimized site is your 2023 Black Friday powerhouse.
Optimize Your Audience
In the world of advertising, connecting with the right audience is paramount. Segment and analyze behaviors, create audiences from your databases, and focus on the most brilliant, willing, and profitable targets—target specific interest groups such as engaged shoppers, luxury goods enthusiasts, and more. Want to advertise to big spenders? Consider utilizing a curated list of Black Friday and Cyber Monday shoppers with high net worth and diverse interests.
Conversion is Key
Once your audience is primed, focus on conversion rates. Optimize the shopping experience by ensuring your website is ready for the traffic surge. Speed is crucial, especially for mobile shoppers. A sluggish site can turn away potential buyers. Streamline the checkout process, including product reviews, payment options, FAQs, and shipping and return policies. A seamless experience increases the likelihood of completing a purchase.
Maximize Average Revenue Per Visitor
With rising advertising costs, it’s essential to make the most of every customer’s purchase. Increase the average basket value through cross offers, bundles, or even offering free shipping on a particular order amount. Leverage conditional discounts, upsells, cross-sells, and special gifts to entice buyers to spend more. Drive urgency through inventory notifications or time-limited offers to encourage swift decision-making.
One site known for the art of upselling is onecommerce.io. One example is a strategic upsell on a Samsung 65-inch TV, where a $500 difference could shrink on Black Friday. Discover the power of enticing customers with free shipping—a proven incentive for 9 out of 10 shoppers.
Harness the Power of Urgency and Scarcity
Infuse urgency and scarcity into your marketing tactics. Across channels, create a sense of exclusivity and time sensitivity. Highlight limited stock, time-limited offers, and exclusive deals. Implement countdown timers on your website and send reminders via email or text as the sale end draws near.
Check out Madgicx, a hub of ingenious ideas for the big sale day. Dive into the world of cross-channel marketing, where the strategic use of urgency and scarcity takes center stage. The key to success? Ensuring your offerings grace multiple platforms, placing your brand in front of potential buyers across various channels.
Cross-channel marketing, especially with the help of AI, can ensure your message reaches potential buyers in every corner of the digital landscape. Make it clear that your 2023 Black Friday deals are both great and fleeting.
Bundle, Bundle, Bundle
As the curtain rises on 2023 Black Friday, consider the power of bundling to skyrocket your order values. Create enticing packages combining popular and complementary products, turning a simple purchase into a lavish care bundle. Think shampoo, soap, conditioner, loofa, and shaving cream – all bundled together at an irresistible price, driving customers to spend more and increasing your average order value.
Break Down Barriers with Interest-Free Payments
To encourage customers to open their wallets wider, sellers offer interest-free payment options through tools like Afterpay, Klarna, or Shop Pay. Break down the total cost into manageable, interest-free installments, making high-ticket items more accessible. It’s not just about what they spend but how comfortable they feel doing it; flexible payment options can be the tipping point.
Activate Your First-Party Data
In the battle for consumer attention, your first-party data is your secret weapon. Leverage the information captured through giveaways and sweepstakes to fuel targeted marketing efforts. Instead of solely relying on costly platforms like Meta and Google, use emails, text messages, and even direct mail to reach your audience. A year-round data acquisition strategy ensures a well-stocked arsenal for Black Friday campaigns.
Dive into AI-Powered Creativity
In the era of AI, let technology be your ally. Leverage artificial intelligence to generate high-quality content, streamline your marketing funnels, and conduct A/B tests. As the Black Friday Sale battlefield gets crowded, innovative and dynamic content can set you apart.
Explore Ad Libraries for Inspiration
Explore the Ads libraries like the one on foreplay.co for a treasure trove of marketing ideas. Type in “Black Friday,” and discover how brands build anticipation and subscriber lists before the big day. Learn from their strategies, whether exclusive early access or limited-time offers, and adapt them to suit your brand.
Ready to revolutionize your 2023 Black Friday campaigns? Dive into our Black Friday, Cyber Monday list in the description – your gateway to expert guidance. Click to connect with our data advisors, and discover innovative database strategies for ads, emails, and more. From holiday sales to year-round success, build your customer base efficiently at giantpartners.com. Join us on a data-driven journey to marketing excellence – chat with an advisor now!