Thanksgiving in the USA signifies the unofficial beginning of the holiday shopping season. Due to the final Thursday's government holiday, most firms also give their staff the following Friday off. Because of this, many merchants attempted to capitalize on the sudden availability of a sizable amount of employed shoppers by launching "one-day-only" specials to commence the holiday shopping season.
What exactly is cyber monday, and when did it start to rival the other holidays this year in terms of importance? How can your company capitalise on Cyber Monday to boost sales? Keep reading to find out more!
The history of Cyber Monday
The National Retail Federation's Shop.org branch used the phrase for the first time in 2005. It emphasized the fact that, for a number of years running, online sales peaked during the first Monday following the well-known US Thanksgiving holiday. The group had two basic hypotheses to explain this occurrence.
The very first hypothesis proposes that shoppers look for goods in supermarkets and chain outlets on weekends in anticipation of purchasing them via the internet. People back then had to wait until the start of their employment week before using workplace computers to conduct their shopping online due to the lack of accessibility to cell phones, tablets, and high-speed broadband.
Another explanation put forth the idea that the phenomenon was brought on by the unfavourable encounters consumers seemed to have the weekend after Thanksgiving. To some, it was a stressful experience because everyone was competing for the best deals and lowest prices. An alternative to the normal mayhem on Friday and future weekends was Cyber Monday. It offered a chance to buy needed stuff online while having tea and avoiding long lines to receive some merchandise at a bargain.
The National Retail Federation came up with the phrase to describe the online equivalent of Black Friday, enabling customers to find the things that they couldn't find there at prices they can now only find and purchase online.
Cyber Monday Vs. Black Friday
The very first Monday following Thanksgiving is recognized as "Cyber Monday," which typically lasts for 24 hours. To entice individuals to make online purchases, it provides significant discounts, fantastic deals, and promotional codes.
One of the busiest shopping occasions in the US is Black Friday, which takes place the day following Thanksgiving. Merchants provide shoppers with large discounts, the finest offers, bonuses, freebies, and promotional codes on this particular day to entice people to make purchases both in-person and online.
In essence, the fundamental distinction between Black Friday and Cyber Monday is their respective dates, as well as the fact that on Black Friday, shoppers can discover the right things both online and in shops, whereas Cyber Monday only permits online purchasing.
Seven Cyber Monday marketing ideas
To delight their clients and give consumers the finest online shopping experience at the same time, businesses develop a wide range of original concepts to please consumers and entice them to return soon.
Run a campaign on social media
Running ads over the most well-liked communication channels makes sense because most consumers choose to scan through social media feeds to learn about promotions, the best deals, reductions, freebies, and incentives. You can also use celebrity endorsements and seek advice from thought leaders.
Make use of email marketing
For years, brands have used email campaigns to alert subscribers to fantastic bargains. Email marketing is the most well-liked and dependable channel, with an estimated 4.03 billion online users globally.
Improve your website
It is best when web design is responsive so that users of mobile phones and tablets can make purchases. Additionally, analyze and improve the speed of the website so that users may access it in seconds or less. Next, determine whether your site is equipped to handle heavy traffic to prevent any mistakes from showing up on consumers' displays.
Invest in paid advertising
Your enterprise can greatly benefit from paid advertisements. They target particular audience groups, promote your Cyber Monday offer via the most well-liked channels, boost website traffic, and also produce quantifiable outcomes. Many big businesses use paid ads and see notable improvements in the performance of their Cyber Monday promotions.
Send SMS campaigns
SMS are useful, even though they may seem dated. As per TechJury, the open rate for SMS advertising is 98%. Additionally, 60% of customers receive these brief messages within one to five minutes of getting them.
Ensure you have enough stock to meet the demand
Make very sure that you have adequate inventory to accommodate the demands of numerous customers if you desire to improve client satisfaction and ensure a smooth experience with your brand. Remember that there could be more customers than you anticipate. Prepare to meet and satisfy the needs of your customers.
Team up with another company
To increase exposure and be known to a broader audience, think about collaborating with other businesses. You can advertise your company and the Cyber Monday bargains more effectively if a product is well-known and has a large following.
What then does this mean for your business?
As the year's end approaches this year, it is good to prepare for a better Cyber Monday promotion next year. Some of the most inventive Cyber Monday promotions have targeted pre-existing email lists, offering a discount on a product or service while subtly encouraging the consumer to forward the email as a form of recommendation. These "Secret Cyber Monday" deals assist all types of businesses in increasing contacts without fear of losing a large number of potential customers to different audiences.
Cyber Monday has expanded dramatically since its start in 2005. What began as a small transaction with a few retailers resulted in over $1 billion in sales in 2014. Every year onward, it is expected to be much greater.
Utilizing a campaign like Cyber Monday could allow many companies to establish their year-end objectives and provide a much-needed lift going into slower commercial seasons.
To sum up, Cyber Monday is the busiest day to shop online and the best opportunity to expand your company by raising sales and money. Prepare for the upcoming Cyber Monday using our top suggestions!