Do you sell your products or services online? If so, you’ll want to make sure your business is ready for Cyber Monday! Cyber Monday, November 26, is a day when businesses give deep discounts on their products to encourage online sales. But do people really spend the big bucks on Cyber Monday? Yes, they do! Kyle Psaty at Daily Perk rounded up some statistics that show last year’s Cyber Monday sales topping $125 billion, with this year’s sales only expected to go higher. Find out how you can cash in on Cyber Money (err, Monday) sales below!
Cyber Monday tips for business owners:
- Offer a discount on Cyber Monday, of course, but why limit yourself to just one? Erik Sherman from Inc.com wisely notes, “All good marketing starts with a strong offer. Cyber Monday simply emphasizes it. But you learn in direct marketing (and online marketing is one version of it), there is no such thing as a single good offer for all customers. Create a set of offers for a given marketing campaign that will help attract different segments of people.”
- Consider offering free shipping in conjunction with another offer, but not as your sole Cyber Monday incentive. “Free shipping [won’t] make a consumer want to take action. Free shipping, in this case, is a hurdle clearer,” Erik notes. “Make sure you have your own hurdle clearers in place so you don’t lose sales. Just know that you’ll need something else to get people in through the door.”
- Give your sales a deadline. “Few things say ‘Buy now!’ to a customer like a deadline,” explains Erik. “Maybe it triggers customers’ survival of the fittest instinct. Whatever the reason, putting a cap on when someone can redeem a special is a powerful marketing aid. Cyber Monday acts as a natural limit — get the specials today only. In addition, some companies are running their own flash sales, with deals that last an hour or so and then are replaced by something else.”
- PriceGrabber, as reported by Daily Perk, says most consumers shop in the morning on Cyber Monday, with 33% shopping during 5 a.m. to 9 a.m., so you may want to think about giving extra discounts for early bird shoppers.
- Most importantly, take the time now to make sure your website will be running at peak performance on Cyber Monday. Nothing will make you lose sales faster than confusing navigation (can shoppers easily locate the cart and checkout button?) and slow-loading pages. We found some great Cyber Monday tips and advice for preparing your website (or for practicing safe cyber as we like to say) in this article by Michael Quinn for Entrepreneur.