2018 Black Friday: Survival Kit For E-Store Owners

Black Friday ideas for WooCommerce / Ecommerce
A young woman texting on the phone outdoors.

2018 Black Friday is here. Increase in sales, converting slow sales products into demand full products, Customer acquisition, and Whatnot.

This is how 2017 black Friday was,

  • The E-commerce sales of blender increased 10 times than the usual sale in 2017 Black Friday. And expects to quadruple in this year.
  • Gymshark, who provides workout essentials had increased their holiday revenue by 197% and is growing to settle for $128M in the coming year.
  • The Due outages faced by SweetLegs in 2016 was settled just a month before black Friday. And Effectively proceeded to break all the previous records.

With no doubt, this is for what we prepare for when Black Friday is approaching.

Yes, I’ve quoted only the glorious stories which happen during a Black Friday season sale. This is not always the same.

But there are some unexpected guests popping up. Like what?
  • Out of control inventory management – OMG, what’s happening
  • A pile of product orders – which to set of first?
  • People go unnoticing your 70% off tag – Unbelievable
  • Angry shoppers – Mind the reviews.

The crazy sale ideas that you implement at your store has all the potential to drive you crazy. Not to mention the competition that is out there during this day.

Seeking the bright side, we have brought you some essential ideas and strategies to gear up your online business during this black Friday.

 

Don’t wait for Thanksgiving

Thanks giving for WooCommerce

Start the prep at the earliest because shoppers start window shopping at the end of October itself. And make your store discoverable so that the users can look around. Sure, they’ll be evaluating whether to buy the products from your store and guess what? Most of them will be buying some.

 

  • Start with optimizing your app:

Store app should be highly optimized in order to make sure all the customers arriving at the store has a good user experience. This will do miracles on converting the store visitors into buyers.

Start optimizing your WooCommerce app and website. The images that are added to the app and website effects the loading time and performance of the app. Appropriate size for images has to be chosen so that it does not intrude the working of the app.

 

Campaign:

Email:

Email marketing for wooCommerce apps

Connect with customers in order to keep them informed about the deals and offers that are up to come.  Send Emails to give the users a clear idea about how the store is going to be in Black Friday. Moreover, Emails are always an initiative for starting a conversation with the users.

The Emails can be of informative and if necessary you can add a questionnaire regarding their personal interests. This data can be used to give special offers for that potential user and learn user expectation. The reports of the custora state that 25% of the online sales during Black Friday is generated through Email Campaign.

So why not make the fullest of it?

 

Social media:

Social Media marketing for wooCommerce

Social media networks are just new channels for your brand. Reaching new customers and Spreading a word about the brand is easier nowadays. With just Email marketing, the inbound traffic of your WooCommerce store is limited. It is more like reaching out the same set of users who know about your brand.

With social media marketing, you can generate more inbound traffic. More Leads increases the probability of having more conversion rates.

 

Inventory under control:

Offering several deals for this day is easy. Stocking up the inventory with the right amount of commodities to fulfill all the orders fails most of the times.

Let’s be careful that this doesn’t happen this year.

To start with, taking the numbers will be the best way. Examine the financial data and sales record of the last year. Look for a trend or sequence with which you can take an estimate of the inventory cost. Then, you can use the gross profit method and retail method to look up the inventory cost.

 

Fake Scarcity 

Creating a sense of scarcity can be advantageous even when you have surplus products. The limited products can induce curiosity and eagerness among the users.

  • The users think the limited supplies were limited because the products were either high of demand or were popular. That’s the reason why people opt products that are scare.

Notify the users that there are only a handful of products at your store.

 

Incentives at the exit doors

Even after putting up the banner “Hurry up! Few more left“, shoppers may abandon their shopping cart. Giving an exigent offer just before the user leaving your app will increase the likelihood for the user to buy the product.

For example, Along with an irresistible offer, enable countdown whenever a user is not proceeding with the checkout procedure. This gives 2 choices for the user, either to refuse the offer or proceed with the checkout.

 

Don’t forget Staffing

The rush at the store during the holiday season is not uncommon. Proper customer support has to be given during these days or else you will be dealing with angry customers.  Assigning staffs for shipping can help you lessen work load and concentrate on the business.

Discount Tactics To Drive More Sales in E-Commerce Business

 

At first glance, it appears that implementing discounts in E-commerce won’t be a profitable move. This is not the case. The only thing is, proper objectives and studies should be conducted before offering any discounts. Even after implementing an offer, It has to be carefully monitored to see whether the intended results and outcomes are the same. Make the customers come back to the store is the first intention while offering a discount. This is for nothing but to increase the sales.

 

Why give a discount?

I know people who wait for festival season to buy products. Buy One – Get one free, 50% off, save Rs33 – These are the ever winning words that customers fall for.

There aren’t any particular reasons to include discounts and offers to your business at the same time that part cannot be excluded either meaning that discounts are a part of a business. Some situations in the business are favorable to put up an offer, while some are not. What matters is when we choose to give a discount and how it is done.

If you are an Estore owner, probably you’ll be looking for a ‘profitable’ reason to raise some discounts at your Estore. Normally the E-commerce business owners say that implementing discounts hurt the business. Sometimes yes, this can be the condition but not necessarily always. With certain tactics, you can overcome this problem. For example, if the shop owner raises some offer every weekend and when the shoppers identify this pattern, then during the weekdays the sales will be low and your business will suffer. To avoid this situation give discounts randomly.

A proper understanding of different methods of discounts are necessary to discover whether a discount is a lucrative tool for your business or not. Continue reading to know more about discount strategies and methods used in E-commerce.

 

When to put an offer?

 

DIcount coupons with WooCommerce Appmaker

Every discount strategy that is going to be implemented will depend on the type of store being run. Discounts are most suitable for stores with large margins because it can help increase sales and achieve desired revenue goals. This is not the case for small-scale businesses. Comparatively, they have a smaller profit margin to be met and offering discounts for customer acquisition alone will have negative impacts. Instead, the strategy which can be used here is offering discount coupons.

 

Here are some effective ways to implement discounts for E-commerce businesses

#1 New Collections:

Announcing the arrival of the new collections or products along with the offers. This method can easily grab customers attention. Introducing the arrival of new products reaches the customers with word of mouth while offering a quite good discount.

 

#2 Clear excess and old commodities:

There are situations where you mistakenly over- order products for your Store. During such a situation give a discount to move the products instantly.

 

#3 Festivals and season sales:

Festivals and seasons are mostly known as the offer season. There are plenty of holidays and celebrations throughout the year which gives the opportunity to offer a discount. Among them, there are some events where you provide a discount naturally and for some events, you get to creatively implement a promotion strategy. During these days customers will be actively looking for offers.

 

#4 Large customer orders:

Buy more save more is a typical discount which can make people buy more products and at the same time, the store owner can move the stock. This type of offers encourages the shoppers to buy products in bulk. Moreover, it is observed that buy more get more offers are more effective in business to business sales.

 

#5 A group of people( Students, Mothers, etc):

Public awareness can be easily built while targeting a particular group of audience. Making offers and deals with such group creates a goodwill for the business and they will refer the products a person of the same group.

 

#6 Products that are perishable: 

Sell the products which are perishable at lower prices as itis much better than finding a method to decompose bulks of such products whose expiration dates are closer.

 

Pro strategies for discounting in E-commerce

 

#1 The loyal customers

If a user has made a purchase in the past. Don’t wait till the next time he stops at the store. You can reach out to the customer with an offer for the product that he is going to purchase. This can be prudent and also a way to thank a loyal customer for maintaining the business with you.

#2 Discount for influencers:

Forming allies with social influencers such as industry bloggers are common in the E-commerce field. While getting in touch with them, including discounts. This as an incentive encourages them to try out the product and promote it through their social channels. This results in a good Exposure for the business.

#3 Emails for carts abandoned:

To engage the customer with the same product that has been abandoned by him, one can send a discount coupon valid for a time period. This invokes the customer to come back and buy the product.

#4 Referral offers:

Offers can be made for the current customers when he refers a new customer. This is worth implementing as customer acquisition can be met.

#5 Instead of discounts:

Implementing seamless discounts may result in decreased Return Over Investment  (ROI) and also it will be hard to obtain long-term customers. Instead of deploying discounts, store owners may follow an adaptive pricing model. A product could have varying versions and one can sell them under varying prices. This could catch the attention of different types of shoppers.

#6 Free shipping:

This is a popular discounting strategy which is widely implemented in the E-commerce business. People opt to buy products which provides a free shipping.

Implement free shipping if it goes with the profit margins.

According to bargainfox the consumer psychology about free shipping works like this

  • The #1 criterion for a user to make a purchase online is free shipping.
  • 47% of users would abandon the cart if they find out that free shipping isn’t included during checkout.

Various discount methods

It is to be understood that not all type of discounts are created the same. To apply some discounts the user’s participation is required whereas the others don’t. Store owners can give away free discounts or make the shoppers earn their discount.

Read on to know different discount methods and their benefits

 

  • Discount codes

These are the common types of discounts which you can see on E-commerce websites. It is a series containing numbers, letters or special character. The shoppers can avail the offer only after entering the series.

The store owner can use this method because they are easy to distribute. Social networks and Emails can be used for this purpose.

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  • Conditional Discounts

In this type of offers, Before the discount is applied,  certain conditions have to be met.  For example, consider the offer is applicable only when a combination of products are purchased within a single transaction.

Normally these discounts are automated ie, In such cases, the shopping cart will detect whether the conditions are met.

These types of discounts are usually automatic, meaning the shopping cart will detect whether or not the conditions are met and apply the discount if they are, rather than the customer having to take action to apply the discount.

The store owners can set on what conditions the discount should be applied.

 

  • Incentive Discounts

Accessing the incentive discounts requires an action from the user’s side. For example, The discount will only be applied after the shopper shares about the store in a social media and like in facebook. These types of discounts are called incentive discounts. The shopper can be rewarded with both the discount codes and conditional discounts.

 

Understanding the discounts measures for the E-commerce business type that you are into powers your Ecommerce store. Set goals and take real-time data into account to find out what types of discount strategies drives customers. Remember, the value of the discounts are entirely dependent on how you use them.