BFCM: The Ultimate Guide to ECommerce Sales [2021]

November 15, 2021

BFCM SHOPPING

Karlyn McKell

Is your online business ready for the busiest sales week of the year? Black Friday Cyber Monday, referred to in the business as BFCM, is a weeklong holiday shopping extravaganza full of discounts and heavy traffic immediately following the Thanksgiving holiday.

For eCommerce sellers, Black Friday Cyber Monday is a huge revenue opportunity – especially as more shoppers move online. This year, inventory is the biggest challenge for retailers due to global supply chain disruptions. The good news is that if you have your product in stock, selling it should be easy with the right tools and plan in place.

Keep reading to learn all about BFCM and how to increase sales this holiday shopping period, including scaling your supply chain through continuous capital.

 

Black Friday Cyber Monday: Fast Facts

While the origins of Black Friday date back much further, retailers didn’t begin refining strategies with steep discounts and early shopping hours until the 1990s. Cyber Monday followed in 2005, offering an alternative to long lines on holiday weekends: now, consumers could shop for eCommerce deals from the comfort of their own homes or offices.

Today, Black Friday Cyber Monday is bigger than ever before, starts earlier and lasts longer, too. Here are some surprising BFCM facts:

 

 

  • 186.4 million consumers shopped online and in-store Thanksgiving weekend 2020. (NRF)
  • Last year, shoppers spent $9.81 billion on Cyber Monday. (ComScore)
  • 44% more consumers shopped only online in 2020 compared to 2019. (NRF)
  • 30% of all retail sales occur from Black Friday-Christmas. (SpendMeNot)
  • An estimated 55% of purchases happen on Amazon during Black Friday. (SpendMeNot)

 

Black Friday Cyber Monday Tools and Tips

You’re an 8-figure seller in the making, and BFCM is a huge once-a-year opportunity to help get you there. Close out the year strong with these tools and tips.

 

1. Focus on Lead Generation Before BFCM Begins

 

Extend your reach this BFCM by capturing as many email leads as possible in the weeks leading up to the event. There are many ways to grow your email sign ups, such as giveaways, loyalty and rewards programs, social media and more.

Another way to get qualified leads is with an email popup on your site teasing Black Friday deals and asking users to opt-in alerts. To encourage popup engagement, incentivize users with a sign up offer.

 

 

2. Offer “early bird” deals to increase conversions

 

This year, BFCM will start earlier and last longer than previous years. Many shoppers are aware of supply chain disruptions leading up to the holidays and are eager to place their orders early. Decide what early bird deals you’ll offer and begin promoting them as soon as possible.

Take a page from large retailers such as Best Buy and Target and offer holiday price matching throughout the Q4 sales period. This means you’ll refund the difference of items purchased early if the prices drop during BFCM, easing shopper anxiety about purchasing before the deals begin.

 

3. Feature Discounts on Your Online Storefront and Pre-launch Page

 

Your customers should be able to find your discounts at every touch point, including your online storefront and pre-launch pages. Advertising future deals in the days and weeks leading up to the event will get your buyers excited and it also puts you a step ahead of the competition.

If you host your store on Shopify, the pre-launch page feature makes it easy to tease deals. The page allows customers to learn more about your BFCM offers and is a lead generation opportunity to capture their contact information. Amazon stores can promote upcoming deals on the online storefront and listing pages.

 

4. Engage With Multichannel Influencers

 

Consumers love feeling like they’ve discovered a product organically, which is why influencers are a great way to widen your reach on multiple platforms. This year, go beyond traditional Instagram influencers and add an emerging platform into the mix.

TikTok is a powerful, widely untapped marketing tool with over 1 billion users worldwide, and statistics show that influencer engagement rates on TikTok outshine those on Instagram – and it’s not close. According to Upfluence, TikTok micro-influencers had an average engagement rate of 17.96% compared to 3.86% on Instagram and 1.63% on Youtube.

 

PERSONALIZED MARKETING BFCM

 

5. Send Shoppers Personalized Texts and Emails

 

Nearly 3 in 4 customers say they only engage with personalized messaging and 8 in 10 are more likely to purchase from brands that offer personalized experiences. During the holiday shopping season, competition is fierce so standing out is essential.

You can personalize your marketing in a number of ways, including user-based landing pages, text messages, behavior-triggered emails and more. Sales events are also a great time to re-engage casual customers with personalized offers and incentives.

 

6. Offer Free Shipping with Minimum Purchase

 

Did you know that 49% of shoppers abandon their carts because of extra costs such as shipping? In fact, unexpected costs during checkout are the number one reason consumers will abandon their shopping cart. Prevent this frustration with a free shipping plan in place during BFCM.

If Amazon Prime has taught us anything, it’s that customers love free and fast shipping. If you aren’t an Amazon FBA seller, offering free shipping may mean footing the bill yourself. To offset the cost, include a minimum purchase amount such as “free shipping on purchases of $75 or more.”

 

7. Use Retargeting to Convert Abandoned Customers

 

Even with free shipping, cart abandonment is bound to happen during the shopping frenzy — and that’s okay. With that said, it’s easier to convert a customer who has already expressed an interest in your product than to replace them with a new customer, which is why a retargeting strategy will help convert more sales on BFCM.

Here are a few ways to retarget customers effectively:

  1. Segment your audiences so you can retarget customers in different sales funnels, and send the top deals to loyal customers who are more likely to convert.
  2. Use social media ads to remind customers about products they viewed but didn’t purchase.
  3. Send an email with an exclusive discount immediately after cart abandonment occurs.

 

fomo marketing bfcm

 

8. Use FOMO Marketing Tactics When Inventory Runs Low

 

The biggest challenge for eCommerce sellers in 2021 is going to be staying in stock. Supply chain disruptions are going to make it difficult for inventory to last through the holidays, or even BFCM weekend. If you don’t already have a supply chain Growth Plan in place for Q4, it’s important to make the most of the inventory you do have.

FOMO marketing taps into shoppers’ fear of missing out on deals and opportunities. When inventory is low, you can highlight stock levels to let customers know there are only a few items left to purchase. Another idea is to highlight missed opportunities by showing customers similar items that are still available for purchase once an item they viewed has sold out.

 

This November, use the tips above to get the most out of your increased site traffic. Impress potential customers with smart marketing, good deals, and a store stocked with the inventory they need this holiday season.

If your inventory is at risk of stock outs during BFCM, we’re here to help you make a plan. 8fig offers a free supply chain planning software and can fund your supply chain with our continuous, adaptable capital. Learn more today.

Karlyn McKell

Karlyn McKell

Karlyn is an eCommerce writer and Content Marketing Manager for 8fig. She's on a mission to democratize online retail by empowering small and medium-sized businesses with resources and tools they need to compete in dynamic marketplaces.