If you run an eCommerce store, you know that Cyber Monday and Christmas are just around the corner. You need to start as soon as possible to make sure you’re prepped in time. Fortunately, we’ve put together eight of our best tips to help your eCommerce business make more sales and save on expenses.
We’ve looked into a range of sources, worked closely with eCommerce consultants, and learned from a range of the eCommerce businesses in our coworking spaces. From this, we’ve put together unique insights as well as tips you can actually put into action when preparing for the hectic Cyber Monday and Christmas season.
eCommerce store tips for Cyber Monday and Christmas
- eCommerce marketing: When do people purchase the most?
- Cyber Monday: Flash sales to get rid of slow moving inventory
- Cross-promote items on your eCommerce store
- Promote major sales and events (like Christmas) EARLY
- Connect your eCommerce store with local businesses
- Don’t forget the gents! Male consumers dominate eCommerce
- Minimise the risk of returns from customers
- Reduce payment transaction fees to increase revenue
eCommerce marketing: When do people purchase the most?
Most online purchases now happen later in the day or early in the evening. In particular, higher volumes of purchases are occurring after 7pm until 10pm. How can you use this knowledge to optimise your eCommerce marketing strategy? Well, you can adjust the delivery of your ads and organic content to align with the 7pm to 10pm window.
Cyber Monday: Flash sales to get rid of slow moving inventory
If your eCommerce business has items that have been in stock for a long time, 30 to 90 days depending on your situation, Cyber Monday or branded flash sales are an excellent opportunity for you. You could even create bundles with a mix of fast and slow moving stock to help with getting more products out of your storage space.
Cross-promote items on your eCommerce store
In 2020, online purchasing was less frequent. However, the value of purchases per checkout was 1.6 times higher. How can you take advantage of this trend? Cross-promote full-priced items on your sale page and in related products sections. Buyers are more likely to add an additional item to their cart if they feel they’re getting more value from sale items.
Read our new article on eCommerce trends to take advantage of in 2021 →
Promote major sales and events (like Christmas) EARLY
Based on search volumes and trends across Google, we see that consumers are looking to spread out the cost of major spending events like Christmas rather than making all their purchases at once. This is likely to have been exacerbated by the expectation that COVID-19 will impact supply chains and delivery times.
To meet the change in consumer behaviour, your eCommerce store will have to communicate promotions and shopping events to your audience earlier on. For example, run email campaigns to your existing customer base or run prospecting ads to potential customers. To tie this all in, don’t forget to communicate any forecasted changes in demand to your distribution channels.
Connect your eCommerce store with local businesses
On the back of Australia’s devastating bushfires and COVID-19 lockdowns, we got to see the nation move to buying local. As an Australian eCommerce business, you could benefit from the increased support for the local economy. If you’re running an eCommerce business elsewhere, consider what your local community is like.
Australians can reach out to ‘buy local’ marketplaces on social media including Buy from the Bush and BuyAussieNow. In your marketing, it might be helpful to use key hashtags like: #supportlocal #buyaussienow #buyfromthebush #buyaussie #aussiemade. You could use similar keywords in your organic content and on-page copy as well.
Don’t forget the gents! Male consumers dominate eCommerce
When we think online shopping, or even just shopping in general, we tend to imagine women shopping for clothes, shoes etc. However, men have emerged as power online buyers this year. Though they shop less frequently, their average cart value per transaction is 1.6 times more than women.
What do men typically buy online? High ticket items in technology categories such as TVs and home gadgets are particularly popular. Men also like buying from curated collections that present options to them and avoid navigation. For example, Gifts for Dad, Gifts for the Home Cook, and Gifts for the Sports Fan. This is perfect for cross-promoting.
In terms of eCommerce marketing for men, there are a few differences. Men have shown a higher likelihood of responding to time-of-day and personalised advertising, particularly when based on their prior consumer behaviour. Ensure you’re using segmentation of your customer behaviour to connect with men.
Minimise the risk of returns from customers
In 2020, Australia Post found that returned goods have risen across the board. The apparel industry suffered the largest increase with a 30% rate of return. Obviously, returns are costly for eCommerce businesses, typing up inventory and customer support services. You should aim to reduce returns as much as possible.
The first thing you can do to minimise the risk of returns is make sure your FAQs are up to date and easy to find. Make customers aware of your policies and their rights. For shoppers that might not take the time to search for FAQs, using a chat bot can help to answer their common questions as well.
Secondly, make sure important information that helps to guide a customer’s purchase is easy to find. For example, if you’re in the apparel industry, size charts need to be accessible and clear. Part of this involves ensuring it’s in a machine readable format, such as a page table and not an image.
Reduce payment transaction fees to increase revenue
Our last tip is a quick change that could make a massive difference. If you’re using a payment processor that takes a fair chunk of online sales in fees, look at your plan and see if there’s a higher plan that’s available on a month-to-month basis. If you can temporarily upgrade to a no fee or lower fee threshold plan during peak sales such as November and December, you could save thousands.
Want more key insights into taking advantage of Cyber Monday and Christmas in 2020? Download our free (no strings attached!) PDF for eCommerce businesses. Prepared by Macmar Digital for Workit’s eCommerce Cyber Monday event.
This time of year is busy no matter who you are. If you’re running an eCommerce store, you’ll undoubtedly be running around non-stop for at least a few weeks. Despite this, don’t let the opportunity of Cyber Monday and Christmas fall through the cracks. Make sure you take the time to consider what actions you can make to boost your chances of an incredible sale season.