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Cyber Monday (as well as Black Friday, of course) represents a huge selling opportunity for everyone — including affiliates and brands with affiliate programs. Everyone wants to leverage the “Cyber Weekend” but how could one make the most of it?
Standing on the threshold of the big day, I’d like to share a few of my thoughts on it all in my today’s blog post…
1. Cyber Monday (and Black Friday)
Regardless of what you’re selling (either as an affiliate or as a brand that relies on affiliate marketers), Cyber Monday (just as Black Friday) is a great marketing opportunity that no business can afford to miss.
Is it all overblown? 100%! As a shopper, comparing pricing throughout the year, I am well-aware that Black Friday/Cyber Monday “discounts” are often not any better than those offered during any other seasonal “sale”. As a marketer, however, I know that this is the time when consumers are especially primed to respond to a sale. This hunger for shopping creates a perfect selling opportunity: for everyone!
2. What to Expect in 2019
Let’s first look at some data (which always speaks louder than any speculations). Analyzing last year’s Thanksgiving/Black Friday/Cyber Monday sales, comScore reported a 28% YoY growth, with nearly $15 billion spent online during this fairly short time period. Marrying the trend with the current state of economy, this year I expect a significant further growth. My prediction is that in 2019 we’re going to be up at least 20% (versus 2018).
3. A Strategy to Explore
Last year, Amazon (the business that claims nearly 37% of all U.S. e-commerce) was especially aggressive with their “Black Friday Deals Week.” They started it a week before Black Friday! Many other major online storefronts motivated earlier purchases by starting their promotions earlier as well. Just as marketers had trained consumers to treat Black Friday/Cyber Monday as the best time to shop, I expect the same to happen with this motivating to start shopping earlier. This year I already encourage our clients to do the same and make the most of it.
4. How to Make the Most of It
On top of everything that I’ve mentioned above, I would also like to add something for those merchants who either do not have enough of margins to offer coupons, or just don’t want to position themselves as a brand that offers discounts. First of all, don’t mistake Black Friday (and Cyber Monday) for a coupons/discounts time meant for coupon-oriented affiliates only. Any deal has the power to increase conversion rates for any type of affiliate. Secondly, keep in mind that you can benefit from Black Friday without discounting. Free shipping is, in fact, the most popular Black Friday deal. You could also offer bundles and other ways of increasing your AOV and everyone’s profit.
Good luck with BF/CM this year, and beyond!!