SURPRISING WAYS ADVANCED MERCHANDISING CAN SKYROCKET YOUR BFCM REVENUE

Dan Smith

Published on: May 11, 2024
Last Updated on: April 12, 2024

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Introduction

As the retail industry gears up for the lucrative Black Friday and Cyber Monday (BFCM) period, it's crucial to have a solid strategy in place to stay ahead of the competition. One effective approach is utilizing advanced merchandising strategies, which involve leveraging data-driven insights to optimize your online store's product displays, recommendations, and search results.

With advanced merchandising, you're not just showcasing products on a website. You're creating a personalized shopping experience that can significantly increase conversions and sales during BFCM.

In this article, we delve into how you can seize this advantage. We'll explore:

• The significance of the BFCM period in the retail industry,
• Key challenges faced by retailers during BFCM,
• How advanced merchandising can drive BFCM success,
• The role of personalization and product recommendations in boosting sales,
• Tactics to create urgency among customers, including time-limited offers and exclusive deals,
• Strategies to optimize mobile experience for BFCM shoppers.

Additionally, if you're looking for new product ideas to sell in your online store beyond BFCM, we recommend checking out this comprehensive guide on the top 23 dropshipping niches for 2023. It provides a wealth of information to help you diversify your offerings and stay competitive in the ever-evolving ecommerce landscape.

Understanding the Significance of the BFCM Period

Black Friday and Cyber Monday, collectively known as BFCM (Black Friday Cyber Monday), have become the most important events in the retail holiday calendar. These global shopping sprees are characterized by massive discounts and mark the beginning of the festive season.

The significance of BFCM has evolved over time:

1. Initially, these events were limited to physical stores, but now they have expanded to include online shops as well.
2. Rather than being confined to a single day, BFCM now lasts for an extended period.
3. Consumers plan their shopping lists and budgets weeks in advance, knowing that there will be deals throughout this period.

For retailers, BFCM presents both opportunities and challenges:

1. The competition is fierce during this period, with customers having high expectations.
2. Shoppers demand seamless shopping experiences, exclusive deals, and exceptional service. Any shortcomings could result in lost sales or negative reviews.

To grasp the importance of BFCM for online businesses and gain insights into effective marketing strategies, it's worth exploring BigCommerce's comprehensive analysis on the history of Black Friday and how to maximize sales during these days.

Moreover, leveraging tools like Anstrex's dropship product finder can prove immensely valuable for retailers looking to stock up on trendy items that will sell well during BFCM.

If you're a retailer aiming to maximize your BFCM sales, it's crucial to understand two key aspects:

1. The historical significance of BFCM and its evolution over time.
2. The specific challenges that retailers face during this period.

In the next section, we will delve into advanced merchandising strategies that can help you overcome these challenges and achieve unprecedented growth.

How Advanced Merchandising Can Drive BFCM Success

Merchandising has a profound impact on customer behavior and ultimately on sales figures. During Black Friday and Cyber Monday (BFCM), when consumer activity reaches its peak, the strategic presentation of products can make all the difference. Here's how advanced merchandising strategies are essential for BFCM success:

1. Influence on Customer Behavior

By carefully curating product displays and positioning, you guide the customers through a narrative, leading them towards items they are likely to purchase. This strategic placement is key in converting browsing into sales.

2. Driving Sales

With data-driven insights, you can not only present products attractively but also predict and respond to customer trends in real-time, which can significantly boost your BFCM sales.

3. Advanced Merchandising Techniques

These involve utilizing sophisticated tools that leverage big data, machine learning, and AI to deliver personalized experiences.

• Dynamic Displays: Showcase trending products or time-sensitive deals prominently to capture customer interest.
• Personalized Recommendations: Use past behavior to suggest relevant products, increasing the likelihood of a purchase.
• Enhanced Search: Help customers find exactly what they're looking for quickly, which is crucial during the fast-paced BFCM period.

The key takeaway here is that by adopting advanced merchandising techniques, you're not just selling a product; you're crafting an irresistible shopping experience tailored to each customer. This approach not only motivates customers to make a purchase but also fosters loyalty and repeat business long after the BFCM sales have concluded.

1. Personalization

In the competitive rush of the BFCM period, personalization in marketing strategy can distinguish your brand and forge deeper connections with customers. Imagine receiving an email from a retailer that not only knows your name but also suggests products based on your past purchases—it feels less like a mass marketing attempt and more like a personal shopping experience. Brands that have harnessed this strategy effectively see their customers transforming into loyal advocates.

Understanding Your Audience for Effective Personalization

Before you can personalize, you must understand who is on the receiving end:

• Utilize customer data platforms (CDPs) to collect data across various touchpoints.
• Analyze purchase history, browsing behavior, and engagement metrics.
• Conduct surveys or use feedback tools to gather direct input from your customers.

This granular understanding allows you to segment your audience and tailor your messaging and offers to match their specific needs and interests.

Implementing Dynamic Content to Deliver Personalized Experiences

With insights in hand, it's time to put personalization into action:

• Tailored Product Displays: Use AI-powered tools like Findify to dynamically showcase products that align with individual customer preferences.
• Customized Promotions: Send out discount codes or special offers based on items that a customer has shown interest in or added to their cart but hasn't purchased yet.
• Behavior-Based Recommendations: Set up triggers for recommendations, such as “Customers who bought this item also bought…” which resonate with the users' shopping patterns.

By weaving personalized elements into every aspect of the online shopping journey, you create an environment where customers feel understood and valued, significantly increasing the likelihood of conversion during the high-stakes BFCM sales period.

2. Product Recommendations

Product recommendations are crucial for generating more sales, especially during the BFCM sales frenzy. By using data-driven insights, you can provide personalized product suggestions that appeal to your customers' specific needs and preferences.

2.1 Types of Product Recommendations to Use

There are different types of product recommendations you can use to improve the shopping experience for your customers:

1. Related Products: These are items that go well with the product your customer is currently looking at or has added to their cart.
2. Frequently Bought Together: Showcase products that are commonly purchased alongside each other to encourage customers to buy more.
3. Top-Rated Products: Highlighting products with high ratings or positive reviews can increase trust and confidence in your offerings.
4. Recently Viewed: Remind customers about items they have previously shown interest in, nudging them towards making a purchase.

Cross-selling vs Upselling: Best Practices for BFCM

Understanding the difference between cross-selling and upselling is crucial for maximizing your sales:

• Cross-Selling: This involves recommending complementary products. For example, if a customer adds a smartphone to their cart, suggest related accessories like phone cases or screen protectors.
• Upselling: Here, you encourage the customer to buy a higher-end product or upgrade their current choice. If a customer is looking at an entry-level DSLR camera, suggest a professional-grade model as an alternative.

During BFCM, competition intensifies and customers are bombarded with numerous offers. To stand out and maximize conversions:

• Keep Your Suggestions Relevant: Ensure the recommended products align with customers' browsing history, purchase patterns, or items in their shopping cart.
• Offer Value: Whether it's through bundles (cross-selling) or superior features (upselling), make sure your suggestions offer clear value.
• Use Clear Calls-To-Action: Make it easy for customers to add recommended products to their cart with clear, persuasive calls-to-action.

By incorporating these product recommendation strategies into your BFCM plan, you have a great opportunity to attract your customers' attention and increase your overall sales.

3. Creating Urgency with Scarcity Tactics

Scarcity tactics are a powerful tool during BFCM campaigns. They tap into the innate human response of not wanting to miss out, often referred to as the fear of missing out (FOMO). This psychological trigger can compel shoppers to make quick purchase decisions, driving immediate conversions and sales.

Leverage FOMO for Immediate Purchases

To effectively leverage FOMO, it's essential to create a sense of urgency in your marketing messages and on your product pages. This can be achieved in several ways:

• Limited Time Offers: By setting a deadline for special deals or discounts, you push consumers to act immediately rather than postponing their purchasing decision. For instance, a message such as "BFCM Sale! 50% off on all items, only for the next 24 hours!" creates an urgent need for customers to take advantage of the deal before it expires.
• Low Stock Alerts: Highlighting that only a few items are left in stock can prompt buyers to purchase quickly before the product runs out. A simple line like "Only 3 items left in stock!" can spur an immediate purchase.
• Exclusive Offers: Offering exclusive products or deals available only during the BFCM period can create a unique buying opportunity that shoppers won't want to miss.

Practical Examples of Scarcity Tactics

Implementing scarcity tactics effectively requires careful planning and execution. Here are some practical examples:

1. Countdown Timers: A visual countdown on your website emphasizes the limited time left to take advantage of BFCM deals. This constant reminder adds pressure and encourages immediate action.
2. Real-Time Stock Updates: Providing real-time updates on product availability creates a sense of urgency by showing customers that items are selling fast.
3. Abandoned Cart Emails: If customers add products to their cart but don't complete the purchase, you can send an email reminding them of the limited time offer or low stock availability.

By incorporating these scarcity tactics into your BFCM campaigns, you can effectively create a sense of urgency and encourage shoppers to take immediate action.

4. Optimizing Mobile Experience for BFCM Shoppers

Mobile commerce has grown significantly in recent years. During the BFCM period, having a well-designed mobile site or app becomes even more important. A smooth mobile shopping experience can keep your customers interested and encourage them to buy.

The Connection Between Mobile Commerce and BFCM

More and more people are using their smartphones to shop during the BFCM sales. According to data from Adobe Analytics, 39% of online sales on Black Friday in 2019 were made through smartphones, which is a 21% increase from the previous year. This trend is expected to continue as consumers seek convenience in shopping on their phones.

Strategies to Improve Mobile Experience

To meet the needs of BFCM shoppers, it's crucial to have a mobile site or app that is easy to use, fast, and intuitive. Here are some strategies you can implement:

1. Simplify Your Design: A clean and simple design makes it easier for users to navigate your site or app. Remove any unnecessary clutter, ensure important information is visible, and use clear call-to-action buttons.
2. Optimize Load Times: Slow loading speeds can lead to higher cart abandonment rates. To speed up your website, consider compressing images, leveraging browser caching, and minimizing HTTP requests.
3. Streamline Checkout Process: Complicated checkout processes often discourage customers from completing their purchase. Make it as simple as possible for them to buy with minimal steps involved.
4. Responsive Design: Your website should be able to adapt smoothly to different screen sizes, providing a consistent shopping experience across all devices.
5. Use Mobile-Specific Features: Take advantage of features that are specifically designed for mobile devices, such as tappable buttons, swipeable image galleries, or location-based services.

Remember, the ultimate goal is not just to drive traffic to your site but to convert that traffic into actual sales. By focusing on optimizing the mobile experience, you can increase customer satisfaction, reduce bounce rates, and ultimately generate higher revenue during the BFCM period.

Conclusion

Using advanced merchandising strategies is crucial for maximizing the Black Friday and Cyber Monday (BFCM) period, a time when every click could result in significant revenue. Intelligent merchandising goes beyond just displaying products; it involves creating personalized, immersive, and persuasive shopping experiences that deeply resonate with customers.

Here are some key takeaways:

• Stay Innovative: In the fast-paced retail world, innovation is essential. Continuously explore new technologies and tactics to stay ahead of the competition.
• Put Customers First: Always prioritize your customers. Understand their needs and preferences to tailor experiences that genuinely delight and surprise them.
• Take Action: You now have valuable insights on personalization, product recommendations, scarcity techniques, and mobile optimization. It's time to implement them confidently.

Remember, BFCM is not just an event; it's a chance to showcase the best of what your brand has to offer. As you gear up for this busy shopping season, use these strategies to not only boost conversions and sales but also foster long-term connections with your customers.

Make the most of advanced merchandising tools like Findify by Maropost to dynamically adapt to your customer's journey and ensure a successful BFCM period.