Consumer habits are continuously evolving, and for many industries, 2020 has proven just how fast they need to adapt to changes. Business owners looking to capitalize on this year’s Black Friday and Cyber Monday (BFCM) sales need to start preparing as early as now.
Last year, the ecommerce growth agency ECOM HOUSE ran quite a successful BFCM campaign for their clients. They were able to generate $2.8 million in sales for Black Friday week alone, and they converted a total of $5 million in November.
According to the two founders Emanuele Maragno and Daniel Bidmon, “Successful Digital Marketing is Art and Science simultaneously. You need to master the combination of marketing principles, consumer psychology, converting creatives, and copywriting, all together with advanced media buying, business KPIs analysis, and data-driven decision making.”
Before November, Emanuele and Daniel had already started testing offers using smaller discounts. They looked at how much revenue (and profit) a specific front-end offer was generating and how cheaper the cost per new customer was. Their strategy stayed the same when Black Friday week finally came, exploiting the winning offers and leveraging even more urgency. The outcome was a higher and more profitable worldwide scaling.
According to Emanuele, their most significant learning was that the consumers’ attention span is much shorter during BFCM, because people are constantly bombarded with promotions. During this period, brands have only 1 second or less to capture the customers’ attention. Despite this, the buying intent among consumers is exceptionally high. After conducting a behavioral data analysis, the company decided to spend the biggest portion of the advertising budget between 8 AM and 6 PM. According to their analysis, people were converting much more in those time frames, meaning the impressions bought had higher quality and value.
One mistake they made? “Our biggest regret was not spending even more aggressively on paid advertising after seeing the positive ROI we were generating,” says Daniel.
Learn more about ECOM HOUSE at https://www.ecomhouse.com.
About ECOM HOUSE
ECOM HOUSE is an ecommerce growth agency that specializes in helping ecommerce brands scale profitably to 7 and 8 figures a year through their proven growth frameworks and advertising strategies.