November has already started its walk, and that means only in 1 month we’ll have Cyber Monday. It is a great opportunity for the business owners to promote their brand and increase their sales drastically.
What is Cyber Monday?
Cyber Monday comes after Black Friday as a great opportunity for the online stores. It’s a perfect day for growing your sales online because people still continue to buy products at the online shops via their office computers.
This guide is based on the case study and results of the experts who gave the report on a webinar organized by Magento.
What We Plan to Do?
We are going to follow a 4-week plan of preparation for Cyber Monday on November 27th. You’ll get the cycle of articles, which will help you to prepare for any kind of holiday and event. Each of these articles will describe one step of our plan. Like before the sports competition, we’ll do several activities:
1. Warm-up. As a result of warm-up, you will be able to:
- see the moments that need improvement;
- count the supposed revenue from the successful campaign;
- estimate the necessary resources and needed budget.
2. Bulking up on content. As a result, you will be able to:
- organize a customers base and segment them for targeted campaign;
- create the targeted content for each channel and an audience group;
- develop the successful themed design for each campaign.
3. Outrunning the opponent. As a result, you’ll be able to:
- know what advantages and disadvantages has your opponent;
- plan your efficient promotional campaign before the Cyber Monday;
- prepare a customer for shopping in your online store on Cyber Monday.
4. Final stretch. As a result, you’ll be able to:
- finally, prepare your online store for Cyber Monday;
- plan all promotional campaigns for Cyber Monday;
- test everything and be sure that your campaigns work right.
then we’ll meet Cyber Monday and our victory on November 27th.
A bonus for winter holidays: you’ll learn how to get all benefits before and after the winter holidays in December and January and summarize the results.
Why is Cyber Monday So Important?
As the statistic says, if the campaign is successful, we can get the following results between November 1st and December 31st:
- up to 6% of holiday revenue in December;
- up to 70% increase in sales from November 20th to November 27th.
And you should also know that 40% of shoppers start their holiday shopping by Halloween. Following the statistics, we can create the calculation formula of supposed revenue.
Let’s imagine that:
- we have 5000 visitors on your website a week;
- our conversion rate is 5%;
- our average check is 100$ a week.
Let’s calculate our supposed revenue (SRev) from the week before Cyber Monday.
SRev = average weekly revenue + 70% growth in week before Cyber Monday revenue
Average weekly revenue: 5000 * 5% *100$ = 25000$
70% growth in week before Cyber Monday revenue: 25000$ * 70% = 17500$
SRev: 25000$ + 17500$ = 42500$
So, you can put your values to this formula and calculate your supposed revenue. If you prepare for the Cyber Monday correctly, you’ll get the high revenue.
And we’ll help you to be ready.
By the way, now we are working on the “white paper” on Cyber Monday and preparation for any holiday in the online stores. Subscribe to our newsletter, and we promise to send it to you when it is ready.
The Problems of Cyber Monday
Firstly, we should focus on the things that work and things that don’t work. The main task is to be aware of the common problems and find the solution for them.
Here are the main problems of Cyber Monday:
- Slow and crashing websites. When the number of your online store visitors increases in many times, the servers could be overloaded.
That’s why we should check the peak website load and page loading speed. In general, good speed is 1-2 seconds per page, not more. And page loading speed affects the conversion. So, pay a special attention to these moments and improve them if you need. The following tools can help you to test your website and know the page loading speed: Pingdom, Website Grader, Google PageSpeed insights.
- Not having channel-by-channel and overall measuring marketing plan. If we want to get results and take control of everything, the goals should be measurable and result fixed. We should create a step-by-step plan for our going to the victory.
Decide what channels you will use for promotion (social networks, email marketing, advertising, landing pages) and set up the goals in Google Analytics.
- Not planned budget. If we are going to create a marketing campaign, we should know how many resources we need and the main steps.
Estimate the necessary number of resources you can spend on each channel.
- Unprofitable discounts. It really happens. When everybody offers discounts, they lose their value.
So we need to come up with something new in order to stand out from the crowd.
- Timing. Again, when everybody starts to send promotional email newsletters on Monday, you can’t predict the best time for the successful email campaign.
Launch your marketing campaigns a week before Cyber Monday and offer profitable discounts and coupons, which people we’ll be able to use on Cyber Monday shopping. Start to prepare your customers.
So, we offer you the following. First of all, consider these problems and try to find the solutions for them. Create a sheet and fill it with ideas.
Click on the image below, and you’ll get the access to the sheet we prepared for you. You can copy it and fill with your data.
Stay with us, and the next time we’ll do the warm-up. Hurry up – it’s 3 weeks between Now and Cyber Monday. The time is on.
Ready, steady, go!
P.S. Don’t forget to subscribe to our newsletter and get the Cyber Monday “white paper” for free after its release.