11/07/2019 Industry news
Black Friday is a holiday celebrated by many and is also the reason for the biggest yearly peak in online sales! The term first originated in Philadelphia by police officers to describe the enormous shopping traffic that would occur after Thanksgiving period in the 1950s. Last year’s Black Friday broke an all-time record, with online shoppers spending $6.22 billion worldwide, an increase of 23.6% compared to the year before. All things considered, Black Friday has become a sales pinnacle for ecommerce.
“An offer they can’t refuse”
Ultimately, in order to thrive during this year’s Black Friday & Cyber Monday, you will have to craft an irresistible BFCM offer. Here’s some inspiration:
- Put together a mystery bundle
Bundling together your products is a convenient way to increase value for customers while also increasing the average order value of your webshop.
- Gamifying your deals
Gamification is applying typical game elements (point scoring etc.) to, in this case, ecommerce. Allowing your customers to play to win, is a perfect strategy to engage your audience – especially during days like BFCM. Create an actual company branded game, go for the good old ‘share & win’ campaign on your social media outlets, or set up a co-creation campaign, be creative and increase your brand awareness. More awareness ultimately means higher sales.
- Go with daily deals
A strategy that proofs successful during seasonal peaks are daily deals. Providing online customers with versatile offers with exclusive 1-day deals helps in highlighting your product line in a more comprehensive way and engages your audience while creating suspense. What will they have in store tomorrow? Let’s find out.
- Newsletter leveraging
Effective in bringing your audience up to speed about your deals is using your newsletter.
- Shipping fees bargains
The number one reason for online customers to abandon a shopping cart is too high shipping fees. If you do not have shipping fees, convey it to your audience! It is likely to positively influence conversion.
- Keep cart alive
When your customers are coming back to your webshop, it is a great addition to find their added products back in the shopping cart. The MultiSafepay ‘Keep Cart Alive’ function is also a way to prevent shopping cart abandonment.
How to prepare for Black Friday & Cyber Monday
Black Friday & Cyber Monday are very well anticipated within the ecommerce industry. By targeting the right target group at the right time, via the right channels and with special discounts, business is inevitable to boom!
To prepare for the online war - where one is not likely to fall victim of physical injuries – there are many factors to keep in mind. Firstly, preparing early for customers who are already researching your products is of the essence. That is why, MultiSafepay offers a second chance solution to re-engage your online customers. Subsequently, your online offer on Black Friday might be the main factor that will lead to a purchase decision.
How can MultiSafepay help?
Pay After Delivery
Today’s customers expect instant gratification, any delay could impact the user experience and diminish customer satisfaction. As customers are more concerned with here-and-now buying decisions, delayed payments can dramatically increase their readiness to buy. Furthermore, November is an expensive month, so postponing payments will be an attractive payment option for your customers.
During special dates like Black Friday, Cyber Monday, Christmas day and Green Monday; the online customer’s readiness to buy is already high and post-pay solutions enhance this readiness. Making it a highly effective way to increase revenue and conversion during Black Friday and Cyber Monday.
As last year, it was found that mobile purchases during Black Friday have outgrown desktop purchases. It is wise to have your mobile ecommerce platforms in check for upcoming Black Friday and Cyber Monday. MultiSafepay has recently started with integrating the newest Progressive Web App technology for merchants to collect payments by means of the newest cutting-edge mobile solutions.
Cyber Criminality during BFCM
The yearly online shopping traffic explosion usually also attracts cybercriminals, this means merchants should be wary of their cyber pockets! MultiSafepay provides payment services like Tokenization for fraud protection.
Furthermore, MultiSafepay has recently achieved full Acquirer and Processor status with Visa and Mastercard. This means we centralize the whole risk management process, creating an enhanced, stronger and aggregate security layer. Controlling the entire credit card payment flow between merchant and customer, MultiSafepay maintains a bulletproof payment environment.
Are you interested in our payment service technologies? Do not hesitate to contact our experts
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