Black Friday has become a worldwide phenomenon. On the fourth Friday of every November, right after Thanksgiving, you cannot miss this ever so important event in marketing and sales. .
Black Friday emerged in 1960 as an American offline event, created to increase sales before Christmas.
Now, according to the Spanish Association of the Digital Economy, 93% of Spanish companies participated in launching offers during Black Friday 2018. And half of them continued until Cyber Monday.
Analyzing Black Friday
The data speaks for itself:
- From the last week of November to the end of the year, 2020 global sales were 1.1 billion.
- 13 million Spanish adults are planning to shop on this day. According to data from Deloitte Spain, average spend per person will be of 127 euros.
- The expected increase this year exceeds 11% and sales will grow a further 35%.
- The sectors with the most sales will be technology, fashion and leisure.
Tips to take advantage of Black Friday
Making the most of this opportunity requires planning ahead and applying a well-defined strategy. It is mandatory that you coordinate both your online and offline channels to reach your target with the best offers.
Among the online channels, on of the keys to success has to do with Affiliate Marketing. This is the time to take advantage of big data to offer business proposals that meet the expectations of your customers and followers. You can also use relevant affiliates to persuade them or reach other segments.
Here in Affilired we’ve summarised some of the essential key tips that allow you to make this date profitable through Affiliate Marketing.
1. Do your homework in advance
Improvisation is the worst idea in any marketing strategy. Except in specific sectors, September and October are a low season for e-commerce. It is the perfect period to decide how to approach your Black Friday business plan. It involves defining which products and discounts you will prioritize, which segments you will focus on and which communication plan you will activate.
In terms of affiliates, it is essential to send offers to the publishers in advance. Only this way, they will be able to develop their newsletters and landing pages with the required notice. In fact, you will allow them to design and conceive them more neatly and publish them on time.
2. Competitor analysis
Ideally, good deals will attract customers on such a commercial day. In practice, our promotions rival those of our competitors and are often can vanish if you do not stand out.
It is vital, therefore, to investigate the history of our rivals and their current sales approaches. Only when you manage to stand out from your competitors, you have an option to make your target decide to buy in your store and not another one. In this sense, a market research will help to make the most effective strategic decisions.
3. Aggressive offers
The essence of Black Friday is to promote advantageous discounts to activate purchases. All brands are aware of this and act accordingly.
Therefore, your promotions must be very attractive. Irrefutable. Only if they stand out and outperform the competition, customers will opt for those products or services.
4. Segmentation and recognition
In the analytical phase prior to the strategy, it is necessary to identify the most powerful publishers or affiliates. It is convenient to target them with promotions with even more powerful prices and discounts. Developing a tactic based on improved discount codes will make them sell more and stimulate their shoppers.
In parallel, you must reward affiliate loyalty. Sending a newsletter or an email with special offers will generate more interest. It will also offer a return to create a landing page with promotions and incentives tailored for their needs.
5. Coupon range
There are online webs whose purpose is to gather and present bargains classified by sectors and products. During the dates leading up to Black Friday, many Internet users browse these references while deciding on their purchases.
Reaching partnership agreements with these sites and placing prominent coupons on them can attract new customers at this time of year. Also, when it comes to little-known or not famous brands, these intermediaries provide great exposure and brand recognition.
Create and invest in advertising ads, especially on Google Display, aimed at those who have already interacted on your website. Since they are people who have already been attracted to your products or services, retargeting will convert them more quickly into consumers.
An additional advantage? You can customize your advertising based on their interests and behaviors.
Stimulate the purchase impulse with other incentives, beyond discounts. For example, you can create product packs for combined purchases. Or when talking about travel and leisure, adding packages offers will make your products stand out even more., such as Spas, gastronomic experiences,etc…
To summarize, to make substantial profits, it is in your hands to make the most of Black Friday, and the following Cyber Monday. Affiliate marketing is the greatest asset that you can use. Plan ahead and put yourself in the hands of a prestigious company with a successful track record like Affilired