Right, so what does this mean for SaaS businesses like yours? Now you know the clear benefits of taking part, it’s time to make your BFCM plan.
Here are our top tips and tactics on how to prepare for Black Friday and Cyber Monday:
Our main top tip for Black Friday is to start early.
We mean it. There’s a reason we started talking about it in August - we don’t want you wasting a very big opportunity for revenue gains.
Starting early gives you more time to make noise about your Black Friday offers. It’s time to up the communications; social, email, and website content will all help to get the buzz going.
We’ve got a few more pointers on the comms side of things later on in this guide. ✏️
Segment your audience
You’ve got to remember that your customer base can’t all be put under the same umbrella. To get the most revenue, customize your discounts to the specific customer.
Ideally, you want to split your customers into segments of where they are in the customer journey:
- Customers who trialed your product but never purchased
- Customers who entered the checkout but never purchased
- Customers who churned recently
- Customers who churned a long time ago
- Existing customers
- New customers entirely
To apply this, your comms can come in the form of different email marketing flows for each segment, different target ads, and/or different landing pages.
Consider different styles of campaigns
If you’re new to the BFCM game, whether you just haven’t thought about it before or because you’re a newly launched business, you won’t know for sure what’s going to work for you and what isn’t. Experimentation is key to figuring this out.
On top of creating varying campaigns for different customer segments, it’s worth experimenting with different styles of campaigns too.
For example, the length of your campaign. Here’s a secret: your sale can go beyond Cyber Weekend.
Razeware is a great example. They realized there was no reason to stop at the typical four days, and chose to expand the campaign to fourteen days.
They saw a 30% increase in revenue as a result.
Create specific landing pages for Black Friday
Some of the best Black Friday campaigns we’ve seen over the years have invested time and energy into creating compelling landing pages. This page (or pages) should be highly visual with calls to action that emphasize that the discount you’re offering is a once-in-a-year opportunity.
Use it in your social media and Google Ad promotions to clue your audience up on what to expect over Cyber Weekend.
Another top tip: put a countdown on the page to create a sense of anticipation and urgency closer to the time.
Keep your creatives crystal clear
Make sure what your offering is clearly presented across your landing page. You want to highlight price points and discounts in a clear and appealing design.
Check out digiDNA’s imazing.com and how they clearly portray the savings their users will be making - you want them to act fast after all, not wait for them to get their calculators out.
And don’t stop there.
Think about your Black Friday creatives across all the platforms you use to promote the sale: the website itself, but also across your social media, forum presence, and e-marketing campaigns too.
Having clarity and continuity throughout your campaign will help with your brand awareness so those users know when and where to return to, and what to expect when they click Buy.
Retain old and new customers
At the end of the day, the perfect discount - Black Friday or not - comes down to understanding your customers, what your company represents to them, and their willingness to pay.
This counts for capturing both prospective customers and existing customers. That’s right - while Black Friday is typically known as a means of acquiring new customers, you need to make sure your existing customers feel valued too. Here are three ideas for doing just that:
- Offer discounts for upgrades or add-ons: One easy way to encourage your existing customers to upgrade their subscriptions or packages.
- Consider where to apply your discount: Some SaaS businesses offer BFCM discounts to subsequent renewal billings, as well as to the checkout.
- Introduce sneak sale previews: This can be exclusive to existing customers or new email sign-ups to reward loyalty prior to the big Black Friday event itself - apply a lower or more limited discount to the official BFCM offer, for example.
Be ready for the big day itself
It’s not all about the lead-up to the day, you’ve got to make sure your payment and billing process is 10/10. The last thing you need on the day is a checkout that causes failed payments or a payment experience that drives customers away.
What you do want is the maximum amount of revenue coming through to your business, and here’s how to help guarantee that:
- Streamlined checkout process Not only do we mean an easy-to-use website and localized checkout, but also making sure that your coupon or discount codes are already applied to make the transaction as easy as possible for these potential (and hopefully, soon-to-be) customers. This will help the realization of the great offer and push them to click “buy now” or “subscribe” even faster.
- Support team on hand For the times that might not go quite as planned, have a support team on hand to cover questions, queries, and all that jazz. Customer care is all part of the process when it comes to acquisition and retention, and with this being one of the busiest days of the year for retail and online shopping, it’s not a day you want people (or revenue) to slide through the net because they couldn’t get the support they needed.
- Specific B2B care and communications With Black Friday landing towards the end of Q4, be aware of timing when selling B2B, especially and to enterprise businesses.
We’ve already mentioned the benefits of running the campaign for longer than just four days, with Razeware seeing a change of 30% more revenue keeping it live for two weeks. Another tip from Chris at Razeware is the idea of keeping communications open to make sure corporate approvals can go through, even if it’s past the campaign period.
The offer of holding a discount to work to their timings of budget approvals and new quarter planning will put you a level above your competitors.