It's the biggest season of the year for retailers and it's just around the corner. That's right, it's time to gear up for Black Friday and Cyber Monday (BFCM). The 2024 BFCM season promises to be even more dynamic and competitive, with unique challenges and opportunities for retailers to boost their revenue. Below, we've got a guide that will help you in your preparations for BFCM, as well as guides that are tailored specifically to your industry. Keep reading to get some tips and find your guide.
Early preparation is key
With the holiday shopping season starting earlier every year, it's crucial to have your marketing strategies, campaigns, and technological implementations ready well before Halloween. In 2023, eMarketer data showed that holiday spending began as early as the first half of October. This trend is expected to continue, so the earlier you start, the better. This means locking in your partners, too - get your identity resolution solution in place ASAP.Rethink your advertising strategies
The 2024 election cycle is bringing about increased political ad spending, making it harder for retailers to stand out. This increased competition for ad space is driving up costs, so consider reallocating some of your budget to owned channels like email and text messaging, where you can have more control and lower costs. Text messaging, in particular, is a powerful tool for direct and personal communication with customers.Leverage first-party data
While Google is pivoting on third-party cookie access, putting the responsibility in the hands of consumers, it's still important for marketers to capitalize on first-party data instead of relying on the third-party cookie. Collecting consent-based, first-party data allows you to create hyper-personalized marketing messages that resonate with your audience. Implementing identification solutions early on will ensure you can capture and use this data effectively by the time the holiday season kicks in.Optimize your mobile experience
Mobile devices continue to dominate holiday shopping. In previous years, mobile accounted for a significant portion of both website visits and conversions during Cyber Week. Ensuring your website is optimized for mobile should be a top priority, followed by enhancements for desktop and tablet experiences.Manage cart abandonment
Cart abandonment spikes during the holiday shopping season as consumers browse and compare deals. Implementing strategies to capture and retarget these shoppers can significantly boost conversions. Personalized emails and texts reminding customers of their abandoned carts and offering incentives can help bring them back to complete their purchases.Download our comprehensive BFCM Playbook
To navigate the complexities of the 2024 BFCM season, download our comprehensive BFCM Playbook. This ebook is packed with insights, data, and actionable strategies to help you maximize your revenue during this crucial period.Download the BFCM Playbook