Black Friday is one of the most significant peak seasons for not only ecommerce brands, but retailers as well, and it can make or break a brand. So, what should you consider as we enter a peak trading period? We've compiled some key considerations for Black Friday in 2023.
Despite UK consumers planning to spend an estimated £3 billion during the 2023 Black Friday and Cyber Monday period, the overall spending will be down 23% compared with 2022.
But it's not all doom and gloom. According to Finder, "half of UK adults (51%) plan to spend during the Black Friday weekend, 12 percentage points more than the 39% planning to spend in 2022". So, with more shoppers on the market with a tighter pocket than in previous years, it's even more important that brands personalise those offers and bring those urgent 'buy now' messages and feelings to the forefront of campaigns.
- Clarify your objectives
Behind the Black Friday frenzy, you need to keep a clear head. What are you hoping to achieve: shifting outdated stock ready for a new collection? Building brand loyalty? High volume sales? Attracting new customers?
They’re all valid aims, but each requires a different marketing strategy.
- Build your customer base
This really is a great opportunity to grow your marketing lists. Promote sign-up on your social media and website with banner ads, pop-ups and offers. Let customers know that subscribers to your newsletter will be the first to hear about your deals. If you have a bricks-and-mortar store, your shop assistants could enlist subscribers too.
- Stay true to your brand
If you’re a niche, luxury or specialist company, suddenly pivoting to knock-down prices won’t resonate with your customer base – it could even turn them off. And any new customers you attract could quickly fall away.
So stick to your values in terms of what you offer and how you communicate it. Money off will always attract attention – but Amazon can probably do it better!
A few ideas are: free next-day delivery; trade-ins (popular among phone brands); and free customisation. Use your customer data to see what could work for your brand.
- Sustainable messaging
Although most of us will consider Black Friday a free-for-all period of buying where price takes top priority, that's not necessarily the case in 2023.
With new, younger consumers spending more, the spotlight is on a brand's ethics and sustainable values. A recent survey by Statista looking at the preference for ethical retailers found that "18 to 24 year-olds, the youngest age group polled, are the most likely to buy products from a brand that has strong ethical and sustainable credentials".
So, before you go in for messages around price drops and discounts, remember to consider what your brand stands for and, of course, what your customers are driven by when they purchase your products.
- Personalisation is king
Black Friday is a crowded time. So you want as many of your messages, such as in email campaigns, to resonate with your consumers.
With more data analytics than ever before, and thanks to all those digital touchpoints, those brands that utilise consumer behaviour insights to serve relevant content to their customers are sure to stand out. According to a report by Statista, 62% of consumers said that a brand would "lose their loyalty if it delivered a non-personalised experience". So, make sure your campaigns can segment content down to the individual rather than a cohort. Recommendation and abandoned basket emails or in-app notifications are a great place to start.
Don't miss out on a great Black Friday trading period. Help is at hand. At Linney, we're experts in creative marketing, using data insights and cutting-edge technology to connect you with your audiences.
Contact us today to discuss working together.