Yep, it’s Cyber Monday.
In 2020, Cyber Monday pulled in an eye-watering $10.8 billion, the largest US ecommerce takings ever, up more than 15% from 2019’s results. And 2021 is predicted to be even bigger.
With these exciting figures in sight, you might be wondering how your store can sweep up some extra sales this Cyber Monday.
We’ve got just the ticket. Here’s why you shouldn’t sleep on Cyber Monday sales (no matter how successful your Black Friday was).
The scoop on Cyber Monday
- What is Cyber Monday? (And why every seller should take advantage)
- How to get your online store ready to shine on Cyber Monday
- The path to victory this Cyber Monday
Need some cash to fund your Cyber Monday sales? Get backing from SellersFunding.
What is Cyber Monday? (And why every seller should take advantage)
Cyber Monday is the Monday after Black Friday. This year, it falls on November 29th.
But in Q4, there are so many events to take advantage of. And with so much on your to do list this time of year, you might wonder whether Cyber Monday is really worth the effort. The answer is a resounding YES!
Let’s take a closer look at a few reasons why investing in a show-stopping Cyber Monday is completely worth it for growing brands:
- Expand your fan base: Cyber Monday gives you another chance to introduce your brand to potential buyers and gain a mass influx of raving fans. Nurture that relationship beyond Cyber Monday, and you’ll soon see the positive effects a bigger customer pool can have on your year-round revenue.
- Black Friday + Cyber Monday = a whole new growth level: If Black Friday is the golden child, popular and confident with the results to back it up, Cyber Monday is the quiet but powerful underdog. Together, Black Friday and Cyber Monday’s results eclipse the sales figures seen on other big shopping days like Mother’s Day and Boxing Day. Think of these two as the power couple of ecommerce sales.
- Cyber Monday can put your brand on the map📍: With so many shoppers on the hunt for goods, Cyber Monday gives you a second chance to connect with those who may have slipped through the net during Black Friday. Nurture relationships with these shoppers and you’ll improve your conversion rates, drive ad costs down and increase your store’s profitability.
This Cyber Monday is going to be unforgettable. Ensure your store is up for the job with flexible ecommerce funding.
How to get your online store ready to shine this Cyber Monday
Now that you know why Cyber Monday is a big deal for your brand, it’s time to prep your store to win when the big day rolls around. Let’s dive into some must-know tips for a successful day of sales.
Use social media to get shoppers geared up
When it comes to hyping up shoppers for a big event, social media is the ultimate sidekick. 👯 Use your social channels to tease shoppers about what’s yet to come and position your Cyber Monday event as the place to be.
For example, you can tap into social media to:
- Fuel excitement with interactive content like polls, Q&As, and hashtag competitions.
- Hint at exclusive deals and create a waitlist.
- Hype up the perks you’ll be offering like free shipping and double loyalty points.
- Aid shoppers in picking gifts for their family, friends, or anyone else who might be special to them.
- Encourage your community to spread the word by incentivising reviews and referrals.
💡Inside scoop: User-generated content is great for winning shoppers’ trust (and dollars). Repurpose influencer content on your Cyber Monday-related pages to easily win shoppers over!
Drip feed promotions from Black Friday to Cyber Monday
Black Friday may be the headline act in the Q4 showdown, but who says it should have all the fun?
To keep shoppers coming back for more, spread out your promotions over the weekend, saving some of your best deals for Cyber Monday. Let shoppers know they’ll need to return if they want first dibs on these limited time, exclusive offers.
For example, if you own a homeware brand you could:
- Publish a countdown for sales on popular products leading up to the big day.
- Host hide-and-seek competitions on your website so customers can hunt for discount codes (while exploring your product catalogue 😉).
- Hold a flash sale on your site with even larger deals than Black Friday. For this one, make sure your email subscribers and social media followers are the first to know about it.
Create custom Cyber Monday landing pages
Many shoppers rush around for multiple items in Q4, so they’re often pressed for time and can’t sift through endless product pages.
To give shoppers everything they need in a glance, create landing pages that act as a hub for all your Cyber Monday deals. You can even take these pages up a notch by breaking them down into gift categories, such as gifts for:
- Secret Santa
- And more!
When shopping is more convenient — especially on busy sales days — you’ll have an easier time boosting your average order value and sales volume.
Keep extra inventory just for Cyber Monday
Stockouts are very common on Black Friday and can impact your product availability and sales for Cyber Monday. In fact, during 2018’s Black Friday shopping week, retailers suffered a $484 million loss in unrealised sales due to out-of-stock items. Ouch!
Luckily, there are some tips and tricks you can apply to prevent stockouts from stalling your sales. Here are a few steps that can help:
- Forecast demand for both Black Friday and Cyber Monday bulk orders.
- Earmark stock for specific days in your warehouse.
- Have your buffer stock in place.
- Set up accounts with local suppliers in case of emergency.
Turn new shoppers into loyal fans with customised email marketing
As Cyber Monday approaches, brands far and wide will have their foot firmly on the marketing pedal to reel shoppers into their store, and you should definitely do the same.
A great vehicle for grabbing shoppers’ attention is, you guessed it, email marketing. When you use emails to make readers feel special and valued, they’ll return the favour with that all-mighty cha-ching.
Remember, while Cyber Monday sales are great, the real cash lies in your ability to build a long-term relationship with customers after the big day.
Here are some ways you can use email marketing to let shoppers know the party’s just getting started:
- Offer exclusive gifts to your subscribers if they sign up by a certain date.
- Customise your email marketing campaigns based on your subscribers’ shopping preferences and engagement.
- Create an email nurture sequence for before, during, and after your Cyber Monday event.
Mix in successful marketing initiatives from the past
Many times, there’s no need to reinvent the wheel to get shoppers’ attention.
In fact, relaunching your best promotions from past events can help breed familiarity and build anticipation from year-to-year, because your customers know what to expect.
So, make life easier for yourself and your team. Run through your past marketing campaigns and pick out the ones that got the best results — whether that’s high engagement, lead generation, or sales conversions. Then ask yourself how you can repurpose the promotion to add some new flavour, while keeping its winning formula in tact.
For example, you could ask yourself:
- Do we have any bundles that worked well on Mother’s Day and could be replicated for the Christmas season?
- Are there any promotional tactics like tiers that have been a hit with our customers in the past?
Once you’ve used your past marketing data to pinpoint your winning formats, all you need to do is fill in the campaign with your awesome Cyber Monday content and watch the sales roll in.
Make sure you’ve got enough cash flow
Ads, promotions, extra inventory — setting up for Cyber Monday on top of all the other Q4 events can be expensive.
With a strong baseline of working capital, you can cover all your Cyber Monday expenses while leaving enough liquidity for your existing operations.
But for funding to be profitable for your store, it’s essential you pick the right partner.
Here’s what to look for before you sign on the dotted line:
- A partner who has experience and knowledge in ecommerce to help guide you through the highs and lows.
- A credit line that matches your store’s current needs and future ambitions so that you can scale easily.
- A simple application process, flexible payment options, and fair rates. For example, at SellersFunding we can take stores from application to $1 million in funding in 48 hours or less.
The path to victory this Cyber Monday
Cyber Monday offers a fantastic opportunity to close out the infamous shopping weekend with a bang. When your store is prepared for the Cyber Monday rush, you’ll gain more leads, sales, and happy customers.
But it’s going to take some groundwork to make Cyber Monday a winner. So start now. Get your stock, marketing, and finances in order. Create memorable products and shopping experiences, work with suppliers and team members to make sure you can deliver, and be patient in the run up. Soon you’ll be miles ahead of your competition and eyeing up your next big break.
Ready for your best Cyber Monday yet? Learn more about how the right ecommerce funding can help.
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