Why eCommerce brands need to rethink Black Friday/Cyber Monday

For many eCommerce brands, Black Friday and Cyber Monday sales have now become vital sources of revenue in Q4 and in some cases, the entire year. eCommerce brands pour a wealth of resources into preparing for these major sales events, aiming to capitalise on the increased demand to boost their year-end sales. But is this strategy the best way to ensure long-term growth and success?

At Impressive, we believe it is crucial for eCommerce brands to re-evaluate their Q4 strategies in light of evolving consumer needs and uncertainty. Rather than relying solely on seasonal peaks or retail sales events to drive revenue, a more sustainable and profitable approach involves adopting a consistent, year-round plan that fosters growth and enables strong customer relationships.

Embracing an 'Always On' eCommerce Strategy
An 'always on' approach shifts the narrative from relying on competing in a crowded marketplace during peak sales to consistently engaging and ensuring customers throughout the year. Here's why this strategy is often more effective:

1. Consistent Revenue Stream: 
By spreading out promotions and new product offerings throughout the year, you create multiple touchpoints with your customers, leading to more consistent revenue generation. This steady flow reduces dependency on a few critical sales periods. 

2. Enhanced Customer Loyalty: 
Regular engagement keeps your brand top of mind. Customers are more likely to return if they know they can always find value and new products rather than waiting for a specific sale event. Incentivise and personalise an existing customer's return to drive repeat purchases and lower churn overall.

3. Strategic Promotions: 
Tailor your promotions to align with your brand's goals and customer behaviour. For example, offering exclusive deals for loyal customers or bundling products that add real value rather than merely cutting prices helps to maintain brand integrity. Align your business with key retail events or moments that help support your brand's message and deliver a unified approach to your value proposition.

4. Data-Driven Decisions: 
A robust 'always on' strategy allows you to use foundational data to identify trends and optimise your marketing efforts. By continuously testing and refining your approach, you can better understand what drives your customers and adjust your tactics accordingly. Ensure to review the metrics that mean the most to your business over time to focus on driving sustainable growth.

5. Building Brand Equity: 
By not relying solely on discounting, you preserve the perceived value of your products. This approach and focus on brand-building activities, enhance customer perception and long-term loyalty.

Retaining Customers For The Long Run
Yotpo, one of Impressive's integrated partners, delivers optimised eCommerce retention solutions for brands wanting to engage with their customers continually. Remarking on the highly competitive and fleeting nature of the Black Friday Cyber Monday season, Yotpo's Head of Brand Advocacy Rad Mitic urged brands to consider a few important tactics ahead of time.

"You should be doing everything you can to encourage loyalty program sign-ups before BFCM. By increasing promotion of your loyalty program in the months leading up to Black Friday and Cyber Monday, your brand can increase engagement down the line. Try promoting your program on multiple channels, including email, SMS, social, and banner ads," he said.

"Set your holiday shipping strategy. Defining a shipping and delivery strategy is important for every business, but it's not a one-and-done deal. Customers expect fast and free shipping—ideally, a combination of the two. And if there's a delay, communication to your customer is important."

Implementing an 'Always On' Strategy
Transitioning to a robust  'always on' strategy doesn't mean abandoning Black Friday or Cyber Monday. However, it does involve integrating these events into a broader, evergreen marketing approach. Here are a few steps to get started:

1. Choose Your Sales Wisely:
Be conscientious with your key sales and offers, and only participate in events that are relevant to your business and brand, with the capability to drive profitability.
For example, tactically leveraging deeper discounts on higher margin, stale product inventory on select sales dates can be a stronger approach than pushing sitewide/storewide discounts on low-margin products at every sales opportunity.

2. Prioritise Test & Learn:
Develop a commitment to continuously test and learn to understand what works well across on-peak and off-peak periods. Leverage historical data on sales and seasonality, and prioritise incrementality testing and agile measurement frameworks to support sustainable performance long term, not just through peak sales periods.

3. Uncover your value proposition:
Increase your brand's ability to have cut-through by addressing the 'why' of why people decide to either buy or not buy from you, and endeavour to communicate and test this through your creatives, content and messaging. Where possible, identify your key 'hero' products or services to drive more efficient engagement and new customer acquisition.
Shifting the narrative from solely discounting in off peak periods to testing different value propositions helps to position your brand well in times of high competition and of low demand, further driving salience.

4. Continuous Engagement: 
Invest in strategies that keep customers engaged throughout the year, such as loyalty and affiliate programs, email marketing, and organic social media content. This ensures that when your big sales do come around, your audience is already primed, engaged and ready to buy.

The Future of eCommerce is 'Always On' 

To successfully navigate the ever-evolving retail landscape, eCommerce brands must embrace a strategic shift beyond the traditional focus on Black Friday and Cyber Monday. The competitive nature of these peak periods highlights the importance of maintaining a strong, value-driven approach throughout the year. This consistent engagement helps brands stay relevant, build customer loyalty, and maximise sales when it counts.